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:
- What is the cost of the Hershey Bar now?
- What is the cost in the year 2000?
- According to this model, when will the Hershey Bar cost $5.00?
(2) The number of compact discs purchased each year is increasing exponentially. The number N, in millions, purchased is gived by:
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?