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A company has introduced two new products to the market. The revenue generated by product A was $63,000 in the first year, and the revenue increases by 3.5% every year.

The revenue generated by product B was $81,000 in the first year, and the revenue increases by 2.1% every year.

Which function can the company use to determine its total revenue from the two products, R(x), after they have been on the market for x years, and approximately what will be the revenue generated by sales of the products after 6 years?

Respuesta :

sqdancefan
The general revenue function can be described by
  r(x) = r0·(1+i)^x
where r0 is the first-year revenue and i is the rate of increase each year.

a) The total revenue will be the sum of the revenues from each product.
  R(x) = 63000·1.035^x + 81000·1.021^x

b) After the products have been on the market for 6 years, the revenue predicted by this model is
  R(6) = $63000·1.035^6 + 81000·1.021^6 ≈ $169,200
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