A + B + C = 518 ft^3
A = 1/3B, or 3A = B
B = C
A + B + C = 518 ft^3
1/3B + B + B = 518
7/3B = 518
B = 518×3/7 = 222 ft^3
A = 1/3B = 1/3×222 = 74 ft^3
C = B = 222 ft^3
Answer:
there is an economic principle that states that 1 dollar today is worth more than 1 dollar in the future, since an invested dollar could earn interests and gain value.
For example, we can assume a 6% interest rate (0.5% monthly interest rate), and using the present value formula we can determine the present value of $100:
- given to us in 30 days = $100 / (1 + 0.5%)¹ = $99.50
- given to us in 150 days = $100 / (1 + 0.5%)⁵ = $97.54
- given to us in 300 days = $100 / (1 + 0.5%)¹⁰ = $95.13
In order to calculate the value of $100 given to us tomorrow, we would need to determine a daily interest rate = 6% / 360 = 0.00017
- $100 given to us tomorrow = $100 / (1 + 0.00017)¹ = $99.98
since the amount of money is not that large and the interest rate is rather low, the difference in value is not that large. But imagine if you used a 24% interest rate instead of 6% (monthly interest rate = 2%)
- $100 given to us in 30 days = $100 / (1 + 2%)¹ = $98.04
- $100 given to us in 150 days = $100 / (1 + 2%)⁵ = $90.57
- $100 given to us in 300 days = $100 / (1 + 2%)¹⁰ = $82.03
as the interest rate increases, the present value decreases.
Answer: Inconsistent
<u>Step-by-step explanation:</u>
y = 3x + 4 → m = 3, b = 4
y = 3x + 3 → m = 3, b = 3
These equations have the same slope but different y-intercepts so they are parallel lines <em>which means they will never intersect.</em>
NOTES
- one solution: consistent & independent <em>lines cross</em>
- infinite solutions: consistent & dependent <em>same line</em>
- no solution: inconsistent <em>parallel lines</em>
