Math Problem Statement

A company is producing and selling a product, with the production cost per unit being $10 and the selling price per unit being $15. The company's initial production rate is 100 units per month, and it is increasing by 10% every month. The company's total revenue can be modeled by the differential equation $\frac{dR}{dt} = (15 - 10) \cdot (100 \cdot 1.1^t)$, where R is the total revenue and t is the time in months. Find the total revenue after 6 months, rounded to the nearest dollar.

Solution

Ask a new question for Free

By Image

Drop file here or Click Here to upload

Math Problem Analysis

Mathematical Concepts

Calculus
Differential Equations
Exponential Growth

Formulas

Differential equation \( \frac{dR}{dt} = 5 \cdot 100 \cdot 1.1^t \)
Integration of exponential functions: \( \int a^t dt = \frac{a^t}{\ln(a)} \)

Theorems

Fundamental Theorem of Calculus

Suitable Grade Level

Grades 11-12, College Level