Question

Help please. I think I am setting up the problem wrong

Answer 1

P = 300 + 60t
540 = 300 + 60t
540-300 = 60t
240 = 60t
240/60 = 4 (4 years after 2010)

So the year should be 2014

Answer 2

Set P equal to 540 dollars then solve for t

> 540=300+60t
>>(540-300)/60=t

This is because you're looking for the time (in years) at which your profit is equal to 540. You know what your profit is going to be you just don't know at which year(s)...