INTRODUCTORY EXERCISES - Logarithms and Modelling

(1) The cost of a Hershey chocolate bar in 1962 was 5 cents. The exponential function describing the growth of the cost of the chocolate bar is given by:

C(t) = 0.05 e0.097t

  1. What is the cost of the Hershey Bar now?
  2. What is the cost in the year 2000?
  3. According to this model, when will the Hershey Bar cost $5.00?


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(2) The number of compact discs purchased each year is increasing exponentially. The number N, in millions, purchased is gived by:

N(t) = 7.5(6)0.5t

where t is time in years and t=0 corresponds to the year 1990. After what amount of time will 1 billion compact discs be sold in a year?

( HINT , SOLUTION )
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