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kow [346]
3 years ago
13

The Rapid Delivery Service is considering the expansion of its business into afternoon retail delivery service. This would requi

re an additional $28,000 in labor costs per month. Company-owned vehicles now used to make morning deliveries to local manufacturers could be used in the afternoons to make retail deliveries. However, it is estimated that an additional $10,300 would be required per month for gas, oil, and maintenance. It is further estimated that the retail delivery use of the trucks would be allocated 40% of the existing $13,300 fixed vehicle costs. What is the differential delivery cost per month for expanding into the retail delivery market
Mathematics
1 answer:
gladu [14]3 years ago
7 0

Answer: $38,300

Step-by-step explanation:

$28,000 + $10,300 = $38,300

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A bank loaned out $14000, part of it at the rate of 9% per year and the rest at 17% per year. If the interest received in one ye
WINSTONCH [101]

Using simple interest, it is found that $13,872 was loaned at 9%.

<h3>Simple Interest</h3>

The amount of money after t years in simple interest is modeled by:

A(t) = P(1 + rt)

In which:

  • P is the initial amount.
  • r is the interest rate, as a decimal.

The interest earned is:

I(t) = Prt

A bank loaned out $14000, in two parts, hence:

P_2 = 14000 - P_1

Part of it at the rate of 9% per year and the rest at 17% per year, hence:

r_1 = 0.09, r_2 = 0.17

The interest received in one year totaled $2000, hence:

I_2 = 2000 - I_1

Then:

I_1 = 0.09P_1

I_2 = 0.17I_2

14000 - P_1 = 0.17(2000 - I_1)

Isolating I_1 as a function of P_1, then we can replace on the equation for the first interest.

14000 - P_1 = 340 - 0.17I_1

0.17I_1 = -13660 + P_1

I_1 = \frac{P_1 - 13660}{0.17}

Then:

I_1 = 0.09P_1

\frac{P_1 - 13660}{0.17} = 0.09P_1

P_1 - 13660 = 0.0153P_1

0.9847P_1 = 13660

P_1 = \frac{13660}{0.9847}

P_1 = 13872

$13,872 was loaned at 9%.

To learn more about simple interest, you can take a look at brainly.com/question/25296782

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