In 1991, the cost of mailing a 1 oz. first-class letter was 29 cents, and the inflation rate was 4.6%. If the inflation rate stayed constant, the function C(t) = 0.29(1.046) would represent the cost of mailing a first-class letter as a function of years since 1991. 1. If the function given holds true, in what year would the cost of mailing a first-class letter reach 60 cents?

Trigonometry (11th Edition)
11th Edition
ISBN:9780134217437
Author:Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
Publisher:Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
Chapter1: Trigonometric Functions
Section: Chapter Questions
Problem 1RE: 1. Give the measures of the complement and the supplement of an angle measuring 35°.
icon
Related questions
Question
Show work
### Cost of Mailing a First-Class Letter Over Time

In 1991, the cost of mailing a 1 oz. first-class letter was 29 cents, and the inflation rate was 4.6%. If the inflation rate stayed constant, the function \( C(t) = 0.29(1.046)^t \) would represent the cost of mailing a first-class letter as a function of years since 1991.

1. **Question**: If the function given holds true, in what year would the cost of mailing a first-class letter reach 60 cents?

To find the year in which the cost reaches 60 cents, we need to solve for \( t \) in the equation:
\[ 0.29(1.046)^t = 0.60 \]

This simplifies to:
\[ (1.046)^t = \frac{0.60}{0.29} \]

\[ t = \log_{1.046} \left( \frac{0.60}{0.29} \right) \]

Using a calculator to find the value:
\[ t = \log_{1.046} (2.069) \approx 16.47 \]

So, approximately 16.47 years after 1991, the cost would reach 60 cents.

Since the question asks for the year:
\[ 1991 + 16.47 \approx 2007.47 \]

Therefore, according to the given function, the cost of mailing a first-class letter would reach 60 cents around the year 2008.
Transcribed Image Text:### Cost of Mailing a First-Class Letter Over Time In 1991, the cost of mailing a 1 oz. first-class letter was 29 cents, and the inflation rate was 4.6%. If the inflation rate stayed constant, the function \( C(t) = 0.29(1.046)^t \) would represent the cost of mailing a first-class letter as a function of years since 1991. 1. **Question**: If the function given holds true, in what year would the cost of mailing a first-class letter reach 60 cents? To find the year in which the cost reaches 60 cents, we need to solve for \( t \) in the equation: \[ 0.29(1.046)^t = 0.60 \] This simplifies to: \[ (1.046)^t = \frac{0.60}{0.29} \] \[ t = \log_{1.046} \left( \frac{0.60}{0.29} \right) \] Using a calculator to find the value: \[ t = \log_{1.046} (2.069) \approx 16.47 \] So, approximately 16.47 years after 1991, the cost would reach 60 cents. Since the question asks for the year: \[ 1991 + 16.47 \approx 2007.47 \] Therefore, according to the given function, the cost of mailing a first-class letter would reach 60 cents around the year 2008.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Trigonometry (11th Edition)
Trigonometry (11th Edition)
Trigonometry
ISBN:
9780134217437
Author:
Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
Publisher:
PEARSON
Trigonometry (MindTap Course List)
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781305652224
Author:
Charles P. McKeague, Mark D. Turner
Publisher:
Cengage Learning
Algebra and Trigonometry
Algebra and Trigonometry
Trigonometry
ISBN:
9781938168376
Author:
Jay Abramson
Publisher:
OpenStax
Trigonometry (MindTap Course List)
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning