Concept explainers
Business: Cost of Oreo Cookies. The average cost, C, of Oreo Cookies was $2.69/lb in 1990 and $5.14/lb in 2013. (Source: foodtimeline.org.) Assuming that the exponential growth model applies:
a. Find the exponential growth rate to three decimal places, and write the function that models the situation.
b. What will the cost of 1lb of Oreo Cookies be in 2020? In 2030?
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Calculus and Its Applications Plus MyLab Math with Pearson eText -- Access Card Package (11th Edition) (Bittinger, Ellenbogen & Surgent, The Calculus and Its Applications Series)
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