please help!!!!!! 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) = .29(1.046)t would represent the cost of mailing a first-class letter as a function of years since 1991.

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

Question

please help!!!!!! 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) = .29(1.046)t would represent the cost of mailing a first-class letter as a function of years since 1991.

If the function given holds true, in what year would the cost of mailing a first-class letter reach 60 cents?

tkhunny · Answer

Everything is given.  All there is left is to substitute.

anonymous · Answer

@tkhunny thanks what do i substitute?

tkhunny · Answer

It's in the probelm statement: "in what year would the cost of mailing a first-class letter reach 60 cents?"

$C(t) = .29(1.046)^{t}$

$0.60 = .29(1.046)^{t}$

anonymous · Answer

@tkhunny thanks, so what would be the correct answer then?

tkhunny · Answer

You must utilize your knowledge of logarithms to tell me what the answer is.  Let's see your best effort and I'll be delighted to see that you don't wander off at all.

Go!