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3 years ago

You want to purchase a new car in 55

Mathematics

1 answer:

Tanzania [10]3 years ago

5 0

Answer:

Ans. you should deposit each month to end up with $38,000 the amount of $533.33 every month for 5 years at a APR of 6.5%

Step-by-step explanation:

Hi, first we have to convert all the data to monthly basis, that is, 5 years (5*12=60 months) and the rate of 6.5% APR offered by the bank (Monthly rate = 0.065/12=0,005666667 or 0.5667% monthly)

With that in mind, we need to solve for "A" the following equation.

$FV=\frac{A((1+r)^{n}-1) }{r}$

Where:

FV = Future value of the car

r = rate of return offered by the bank

n = number of periods that you are going to make the monthly deposit

That is:

$38,000=\frac{A((1+0,005667)^{60}-1) }{0,005667}$

$38,000=\frac{A(0,403599896)}{0,005667}$

$38,000=A(71,22351103)$

$A= 533,53$

Best of luck.

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3 years ago

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Answer:

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3 years ago

A certain company manufactures skateboards and rollerskates. It takes them 2 units of labor and 1 unit of materials to produce a

Alisiya [41]

Answer: The company should produce 7 skateboards and 16 rollerskates in order to maximize profit.

Step-by-step explanation: Let the skateboards be represented by s and the rollerskates be represented by r. The available amount of labour is 30 units, and to produce a skateboard requires 2 units of labor while to produce a rollerskate requires 1 unit. This can be expressed as follows;

2s + r = 30 ------(1)

Also there are 40 units of materials available, and to produce a skateboard requires 1 unit while a rollerskate requires 2 units. This too can be expressed as follows;

s + 2r = 40 ------(2)

With the pair of simultaneous equations we can now solve for both variables by using the substitution method as follows;

In equation (1), let r = 30 - 2s

Substitute for r into equation (2)

s + 2(30 - 2s) = 40

s + 60 - 4s = 40

Collect like terms,

s - 4s = 40 - 60

-3s = -20

Divide both sides of the equation by -3

s = 6.67

(Rounded up to the nearest whole number, s = 7)

Substitute for the value of s into equation (1)

2s + r = 30

2(7) + r = 30

14 + r = 30

Subtract 14 from both sides of the equation

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Therefore in order to maximize profit, the company should produce 7 skateboards and 16 rollerskates.

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4 years ago

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Answer:

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Step-by-step explanation:

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