Mathematics, 23.02.2021 01:10 natlovesfood

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 (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?

Answers: 1

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In 1991, the cost of mailing a 1 oz. first-class letter was 29 cents, and the inflation rate was 4....