Question

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Answer 1

Answer:

The function can the fast food chain use to determine its total profit, P(x), after x years : $P(x)=5000[10(1.04)^x+7(1.055)^x$

Total profit after 4 years = $101,851.79

Step-by-step explanation:

Branch A:

First year profit = $50,000

The profit increased by 4% every year

Formula : $A =P(1+r)^t$

So, Total profit after x years = $P(x)=50,000(1+0.04)^x$

                                              = $P(x)=50,000(1.04)^x$

Branch B:

First year profit = $35000

The profit increased by 5.5% every year

Formula : $A =P(1+r)^t$

So, Total profit after x years = $P(x)=35,000(1+0.055)^x$

                                              = $P(x)=35,000(1.055)^x$

Thus the function of total profit of fast food chain :

$P(x)=50,000(1.04)^x+35,000(1.055)^x$

$P(x)=5000[10(1.04)^x+7(1.055)^x$

Now to find total profit after four years .

Substitute x = 4

$P(4)=5000[10(1.04)^4+7(1.055)^4]$

$P(4)=101851.790772$

Hence Option D is correct.

The function can the fast food chain use to determine its total profit, P(x), after x years : $P(x)=5000[10(1.04)^x+7(1.055)^x$

Total profit after 4 years = $101,851.79                                            

Answer 2

Answer: D) P(x) = 5,000(10(1.04)x + 7(1.055)x); $101,851.79

Step-by-step explanation:

The exponential growth equation is given by :-

$y=I(1+r)^t$ , where x is time , I is the initial value and and r is the rate of growth.

For Branch A:

I= $50,000

r= 4%=0.04

Exponential growth equation for Branch A : $y_1=50000(1+0.04)^x$

$y_1=50000(1.04)^x$  (1)

For Branch B:

I= $35,000

r= 5.5%=0.055

Exponential growth equation for Branch A : $y_2=35000(1+0.055)^x$

$y_2=35000(1.055)^x$       (2)

Add (1) and (2)

$P(x)=y_2+y_2\\\\ P(x)=50000(1.04)^x+35000(1.055)^x\\\\ P(x)= 5,000(10(1.055)^x + 7(1.04)^x)$

For x= 4, we have

$P(x)=5000(10(1.055)^4 + 7(1.04)^4)\\\\=101851.790772\approx101851.79$

Hence, the function can the fast food chain use to determine its total profit, P(x), after x years, :

$P(x)= 5,000(10(1.055)^x + 7(1.04)^x)$

Amount of money will the chain have made in profit after 4 years = $101851.79