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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 $6300 on 10,000 first-class postage stamps in 2009. Knowing it will need 10,000 first-class stamps in each of the years 2010-2026, it decides at the beginning of 2010 to try to save money by spending $6300 on 10,000 Forever Stamps, but also buying enough of the stamps to cover the years 2011 through 2026. Assuming there is a postage increase in each of the years 2019, 2022, and 2025 to the cost predicted in part (c), how much money will the firm save by buying the stamps?

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 $6300 on 10,000 first-class postage stamps in 2009. Knowing it will need 10,000 first-class stamps in each of the years 2010-2026, it decides at the beginning of 2010 to try to save money by spending $6300 on 10,000 Forever Stamps, but also buying enough of the stamps to cover the years 2011 through 2026. Assuming there is a postage increase in each of the years 2019, 2022, and 2025 to the cost predicted in part (c), how much money will the firm save by buying the stamps?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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please very soon full explanation. ONLY PART(D)

a) The cost of first-class postage stamp was 7¢ in 1964 and 63¢ in 2010. This increase represents exponential growth. Write the function S for the cost of a stamp t years after 1964 (t = 0). b) What was the growth rate in the cost? c) Predict the cost of a first-class postage stamp in 2019, 2022, and 2025. 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 $6300 on 10,000 first-class postage stamps in 2009. Knowing it will need 10,000 first-class stamps in each of the years 2010-2026, it decides at the beginning of 2010 to try to save money by spending $6300 on 10,000 Forever Stamps, but also buying enough of the stamps to cover the years 2011 through 2026. Assuming there is a postage increase in each of the years 2019, 2022, and 2025 to the cost predicted in part (c), how much money will the firm save by buying the stamps? a) Choose the correct answer below. S(t) = 7 e kt В. 7t S(t) = 0.05 e OC. S(t) = 0.05 e 63t S(t) = 7 e 0.05t b) The growth rate is approximately %. (Round to the nearest integer as needed.) c) The cost of a first-class postage stamp in 2019 is (Use the answer from part (a) to find this answer. Round to nearest integer as needed.) The cost of a first-class postage stamp in 2022 is (Use the answer from part (a) to find this answer. Round to the nearest integer as needed.) The cost of a first-class postage stamp in 2025 is (Use the answer from part (a) to find this answer. Round to the nearest integer as needed.) ¢. d) The firm will save $ by buying the stamps at the beginning of 2010. (Use the answers from part (c) to find this answer.)
Transcribed Image Text:a) The cost of first-class postage stamp was 7¢ in 1964 and 63¢ in 2010. This increase represents exponential growth. Write the function S for the cost of a stamp t years after 1964 (t = 0). b) What was the growth rate in the cost? c) Predict the cost of a first-class postage stamp in 2019, 2022, and 2025. 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 $6300 on 10,000 first-class postage stamps in 2009. Knowing it will need 10,000 first-class stamps in each of the years 2010-2026, it decides at the beginning of 2010 to try to save money by spending $6300 on 10,000 Forever Stamps, but also buying enough of the stamps to cover the years 2011 through 2026. Assuming there is a postage increase in each of the years 2019, 2022, and 2025 to the cost predicted in part (c), how much money will the firm save by buying the stamps? a) Choose the correct answer below. S(t) = 7 e kt В. 7t S(t) = 0.05 e OC. S(t) = 0.05 e 63t S(t) = 7 e 0.05t b) The growth rate is approximately %. (Round to the nearest integer as needed.) c) The cost of a first-class postage stamp in 2019 is (Use the answer from part (a) to find this answer. Round to nearest integer as needed.) The cost of a first-class postage stamp in 2022 is (Use the answer from part (a) to find this answer. Round to the nearest integer as needed.) The cost of a first-class postage stamp in 2025 is (Use the answer from part (a) to find this answer. Round to the nearest integer as needed.) ¢. d) The firm will save $ by buying the stamps at the beginning of 2010. (Use the answers from part (c) to find this answer.)
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