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Troyanec [42]
3 years ago
10

3200 dollars is placed in an account with an annual interest rate of 8.25%. To the nearest tenth of a year, how long will it tak

e for the account value to reach 9600 dollars?
Mathematics
1 answer:
frozen [14]3 years ago
6 0

It takes 24 years for the account value to reach the $9600.

<u>Step-by-step explanation:</u>

<u>From the given data, it can be determined that :</u>

  • Amount = $9600
  • Principal = $3200
  • Rate = 8.25% = 0.0825

Number of years should be calculated.

<u>To find the interest :</u>

Amount = Principal + Interest

Therefore, the interest can be calculated by the formula,

Interest = Amount - Principal

⇒ 9600 - 3200

⇒ 6400

The interest needed is 6400.

<u>To find the number of years required to reach this interest :</u>

Use the formula for simple interest,

Simple interest = Pnr /100

where,

  • P is the principal
  • n is the number of years
  • r is the rate

Substitute all the given values in the simple interest formula,

Simple interest = 3200 × n × 0.0825

6400 = 264 n

n = 6400 / 264

n = 24.2 which is approximately 24 years.

Therefore, it takes 24 years for the account value of 3200 dollars to reach 9600 dollars.

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Step-by-step explanation:

In Mix A, there is an equal amount of nuts and raisins.

Let x = kg of nuts = kg of raisins.

In Mix B, there is 3 times as much nuts as raisins.

Let y = kg of raisins, then 3y = kg of nuts.

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           Nuts    Raisins   Price  

mix A    x   +   x     =  $ 7.00

mix B    3y  +  y     =  $  9.50

Total:   150   90

Hence, the number of kilograms of each mix should company prepare for the maximum revenue is = 7x + 9.5y

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{x≥0y≥0x+3y≤150x+y≤90} (equation 1)

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R=14x+38y (equation 2).

Graph the region determined by [1] and locate its vertices.

You should get:

(0,0),(90,0),(0,50),(60,30)

Test the vertices into [2] and see which vertex produces maximum revenue

(0,0): R=14(0)+38(0)=0 Minimum revenue

(90,0):R=14(90)+38(0)=1260

(0,50): R=14(0)+38(50)=1900

(60,30):R=14(60)+38(30)=1980 Maximum revenue.

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