Question Help Data from an independent research company found that the annual co

Question

Question Help Data from an independent research company found that the annual cost per worker for insurance (health,lie, liabilit,ec) was increasing the cost in dollars at tme x, and x is the number of years measured from the beginnning of the year 1995. That is, x-0 corresponds to the start next 6 years, beginning in 1995 according to the fundion ty)-64 48e0 4 where 00)s of 1995 Find the total increase in costs dauring the The total increase in costs is s (Round to the nearest cent as needed) Enter your answer in the answer box and then click Check Answer here to search

Explanation / Answer

The annual cost is increasing according to the function:

f(x) = 64.48 e0.44x

where x is the number of years beginning from the year 1995

f(x) is the cost in dollars at time x

After the next 6 years, starting from 1996,

the cost in dollars is = f(6)

f(6)

= 64.48 e0.44 * 6

= 64.48 e2.64

= 64.48 * 14.0132

= 903.5714

The cost in dollars at the beginning, in 1995

= f(0)

= 64.48 e0.44 * 0

= 64.48

Hence, the total increase in cost in 6 years, starting from 1996

= f(6) - f(0)

=  903.5714 - 64.48

= 839.0914 dollars

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