I shouldn't have answered this, I read it wrong at first.... I don't really understand it so sorry..... I would say ask your teacher, but sorry for "stealing points" :(
Answer:
A = $1,650.24
Step-by-step explanation:
A = P(1 + r/n)^nt
Where
A = future value
P = present value = $1,600
r = interest rate = 3.1% = 0.031
n = number of periods = 4
t = time = 1 year
A = P(1 + r/n)^nt
= 1,600( 1 + 0.031 / 4)^4*1
= 1600( 1 + 0.00775)^4
= 1600(1.00775)^4
= 1600(1.0314)
= 1,650.24
A = $1,650.24
Answer:
A.
Step-by-step explanation:
Answer:
Step-by-step explanation:
Derivatives problem! I love these!
To maximize revenue: Find where R(p) has a maximum
1. Find the derivative
-4p^2 + 2000p - 3000
= (2)(-4p) + (1)2000 - (0)3000
= -8p + 2000
2. Find where the derivative = 0
-8p + 2000 = 0
2000 = 8p
250 = p
<u>a. Price = 250</u>
3. Plug in p to your original equation
-4(250)^2 + 2000(250) - 3000
= 247,000
<u>b. Maximum revenue: $247,000</u>
