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Gre4nikov [31]
3 years ago
12

Ruben worked in a union motorcycle factory for 20 years before returning to school to become a paramedic instead. He is 45 now.

He has a pension from his previous employer, which would pay him $1500/month after his retirement at 65. Assuming he will live to 80 (which is slightly higher than the life expectancy for an American man) he would earn $270000 over 15 years. The company has stopped offering pensions and wants to buy out his pension today. Should Ruben accept a buyout offer of $125,000? Assume that he could invest the money at an interest rate of 3% with a monthly compounding.
Mathematics
1 answer:
MaRussiya [10]3 years ago
6 0

Answer:

Ruben needs a new job

Step-by-step explanation:

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Answer:

(a) y = 350,000 \times (1 + 0.07132)^t

(b) (i) The population after 8 hours is 607,325

(ii) The population after 24 hours is 1,828,643

(c) The rate of increase of the population as a percentage per hour is 7.132%

(d) The doubling time of the population is approximately, 10.06 hours

Step-by-step explanation:

(a) The initial population of the bacteria, y₁ = a = 350,000

The time the colony grows, t = 12 hours

The final population of bacteria in the colony, y₂ = 800,000

The exponential growth model, can be written as follows;

y = a \cdot (1 + r)^t

Plugging in the values, we get;

800,000 = 350,000 \times (1 + r)^{12}

Therefore;

(1 + r)¹² = 800,000/350,000 = 16/7

12·㏑(1 + r) = ㏑(16/7)

㏑(1 + r) = (㏑(16/7))/12

r = e^((㏑(16/7))/12) - 1 ≈ 0.07132

The  model is therefore;

y = 350,000 \times (1 + 0.07132)^t

(b) (i) The population after 8 hours is given as follows;

y = 350,000 × (1 + 0.07132)⁸ ≈ 607,325.82

By rounding down, we have;

The population after 8 hours, y = 607,325

(ii) The population after 24 hours is given as follows;

y = 350,000 × (1 + 0.07132)²⁴ ≈ 1,828,643.92571

By rounding down, we have;

The population after 24 hours, y = 1,828,643

(c) The rate of increase of the population as a percentage per hour =  r × 100

∴   The rate of increase of the population as a percentage = 0.07132 × 100 = 7.132%

(d) The doubling time of the population is the time it takes the population to double, which is given as follows;

Initial population = y

Final population = 2·y

The doubling time of the population is therefore;

2 \cdot y = y \times (1 + 0.07132)^t

Therefore, we have;

2·y/y =2 = (1 + 0.07132)^t

t = ln2/(ln(1 + 0.07132)) ≈ 10.06

The doubling time of the population is approximately, 10.06 hours.

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Answer:

Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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