The value of this account in 10 years is given by the formula:
FV = P*(1+r)^t
where FV is the future value in the account after 10 years(to be calculated)
P is the principal invested at the beginning
r is the interest rate and
t is the time horizon in years
Given, Invested Amount (P) = 20,000
Interest rate (r) = 5.5% = 0.055
Time horizon (t) = 10 years = 10
Substituting the formula, FV = 20,000*(1+0.055)^10 = 20,000*1.055^10 = 20,000*1.708144458 = 34,162.89
The value of this account after 10 years =$34,162.89 (Rounded to the nearest cent)
Answer:
y = .75x + 1 or y= 3/4x +1
Step-by-step explanation:
Answer:
a. Based on this information, construct a linear demand equation for Yoda vs. Alien T-shirts, and hence obtain the weekly revenue R as a function of the unit price x.
- y = 640 - 80x ⇒ demand equation
- xy = - 80x² + 640x ⇒ weekly revenue
b. The university administration charges the fraternities a weekly fee of $500 for use of the Student Center. Write down the monthly profit P as a function of the unit price x, and hence determine how much the fraternities should charge to obtain the largest possible weekly profit. What is the largest possible weekly profit?
Step-by-step explanation:
first, we must determine the slope = (400 - 240) / (3 - 5) = 160 / -2 = -80
the demand equation:
y - 240 = -80 (x - 5)
y = -80x + 400 + 240
y = 640 - 80x
total weekly revenue:
xy = -80x² + 640x
xy - 500 = -80x² + 640x - 500
max. profit ⇒ x = -640 / (2 x -80) = -640 / -160 = 4
maximum weekly profit = -80($4²) + 640($4) - $500 = -$1,280 + $2,560 - $500 = $780
<span>SALES: 5x² + 2x – 80
</span>- COST: 5x² – x + 100
= ------------------
PROFIT: 0x²+3x-180
(+3x because we subtracted a negative (-x), which is called adding, similarly taking away 100 from negative 80 is -180.)
Checking:
5x² + 2x – 80
5(500)²+2(500)-80 = 1,250,920
5x² – x + 100
5(500)² – (500) + 100= 1,249,600
Profit = 1,250,920 - 1,249,600 = 1,320
0(500)²+3(500)-180 = 1,320 YAY! {:-)
Double Checking:
5x² + 2x – 80
5(5000)²+2(5000)-80 = 125,009,920
5x² – x + 100
5(5000)² – (5000) + 100= 124,995,100
Profit = 125,009,920 - 124,995,100 = 14,820
0(5000)²+3(5000)-180 = <span>14,820</span> YAY! {:-)
Is there a picture to go with is
