Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a) The cost of first-class postage stamp was 6 in 1961 and 664 in 2010. This increase represents exponential growth. Write the function for the

image text in transcribed
a) The cost of first-class postage stamp was 6 in 1961 and 664 in 2010. This increase represents exponential growth. Write the function for the cost of a stampt years after 1961 (t = 0). b) What was the growth rate in the cost? c) Predict the cost of a first-class postage stamp in 2018, 2021, and 2024 d) The Forever Stamp is always valid as first-class postage on standard envelopes weighing 1 ounce or less, regardless of any subsequent increases in the first-class rate. An advertising firm spent $6000 on 10,000 first-class postage stamps in 2009. Knowing it will need 10,000 first-class stamps in each of the years 2010-2025, it decides at the beginning of 2010 to try to save money by spending $6600 on 10,000 Forever Stamps, but also buying enough of the stamps to cover the years 2011 through 2025. Assuming there is a postage Increase in each of the years 2018, 2021, and 2024 to the cost predicted in part (c), how much money will the firm save by buying the stamps? a) The cost of first-class postage stamp was 6 in 1961 and 664 in 2010. This increase represents exponential growth. Write the function for the cost of a stampt years after 1961 (t = 0). b) What was the growth rate in the cost? c) Predict the cost of a first-class postage stamp in 2018, 2021, and 2024 d) The Forever Stamp is always valid as first-class postage on standard envelopes weighing 1 ounce or less, regardless of any subsequent increases in the first-class rate. An advertising firm spent $6000 on 10,000 first-class postage stamps in 2009. Knowing it will need 10,000 first-class stamps in each of the years 2010-2025, it decides at the beginning of 2010 to try to save money by spending $6600 on 10,000 Forever Stamps, but also buying enough of the stamps to cover the years 2011 through 2025. Assuming there is a postage Increase in each of the years 2018, 2021, and 2024 to the cost predicted in part (c), how much money will the firm save by buying the stamps

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Concept Audits A Philosophical Method

Authors: Nicholas Rescher

1st Edition

1498540392, 978-1498540391

More Books

Students also viewed these Accounting questions

Question

=+a. What is the probability that x is between 3.0% and 5.0%?

Answered: 1 week ago

Question

what will be the product of the reaction a) b) c) d)

Answered: 1 week ago

Question

Identify cultural barriers to communication.

Answered: 1 week ago