A lighting Products company has put a new brand of solar lightbulbs on the market the graph shows the estimated revenue in milli
ons of dollars as the selling price of the lightbulb varies.
What selling price is to be expected to produce the maximum revenue
What selling price is to be expected to produce the maximum revenue
2 answers:
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MN = 6 in
add the parts of the ratio, 1 + 2 + 3 = 6
divide AB by 6 to find 1 part of the ratio
= 3 ← 1 part
AM = 3 in ← 1 part
MN = 2 × 3 = 6 in ← 2 parts
NB = 3 × 3 = 9 in ← 3 parts
and 3 + 6 + 9 = 18 in = AB
Answer:
9.694 years
Step-by-step explanation:
Let the investment is $P.
So, we are asked to determine the time it will grow to triple with the compound interest rate of 12%.
Let the time is y years.
So, from the formula of compound interest we can write
⇒
⇒
Now, taking log both sides we get,
y log 1.12 = log 3 {Since, }
⇒ 0.04922y = 0.477712
⇒ y = 9.694 years (Answer)