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defon
2 years ago
13

Fine line trucks rents an 18-ft truck for $42 plus 35 cents per mile. Judy needs a truck for one day to deliver a shipment of pl

ants. How far can she drive and stay within a budget of $70?
Mathematics
1 answer:
r-ruslan [8.4K]2 years ago
8 0
Set it up as an equation:
m=miles she can drive

42+.35m=70

Subtract the 42, so

.35m= 28
Divide by .35, so

m=80

She can drive 80 miles
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2 years ago
Kristen invests $ 5745 in a bank. The bank 6.5% interest compounded monthly. How long must she leave the money in the bank for i
podryga [215]

Answer:

1. 10.7 years

2. 17.0 years

3. 2nd option

Step-by-step explanation:

Use formula for compounded interest

A=P\cdot \left(1+\dfrac{r}{n}\right)^{nt},

where

A is final value, P is initial value, r is interest rate (as decimal), n is number of periods and t is number of years.

In your case,

1. P=$5745, A=2P=$11490, n=12 (compounded monthly), r=0.065 (6.5%) and t is unknown. Then

11490=5745\cdot \left(1+\dfrac{0.065}{12}\right)^{12t},\\ \\2=(1.0054)^{12t},\\ \\12t=\log_{1.0054}2,\\ \\t=\dfrac{1}{12}\log_ {1.0054}2\approx 10.7\ years.

2. P=$5745, A=3P=$17235, n=12 (compounded monthly), r=0.065 (6.5%) and t is unknown. Then


17235=5745\cdot \left(1+\dfrac{0.065}{12}\right)^{12t},

3=(1.0054)^{12t},

12t=\log_{1.0054}3,

t=\dfrac{1}{12}\log_{1.0054}3\approx 17.0\ years.

3. <u>1 choice:</u> P=$5745, n=12 (compounded monthly), r=0.065 (6.5%), t=5 years and A is unknown. Then

A=5745\cdot \left(1+\dfrac{0.065}{12}\right)^{12\cdot 5},\\ \\A=5745\cdot (1.0054)^{60}\approx \$7936.39.

<u>2 choice:</u> P=$5745, n=4 (compounded monthly), r=0.0675 (6.75%), t=5 years and A is unknown. Then

A=5745\cdot \left(1+\dfrac{0.0675}{4}\right)^{4\cdot 5},\\ \\A=5745\cdot (1.0169)^{20}\approx \$8032.58.

The best will be 2nd option, because $8032.58>$7936.39

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2 years ago
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