If the rate of inflation is 2.8% per year, the future price p (t) (in dollars) of a certain item can be modeled by the following exponential function, where it is the
number of years from today.
p(t) = 800 (1.028)
Find the current price of the item and the price 10 years from today.
Round your answers to the nearest dollar as necessary.
Current price:
Price 10 years from today: $
