Answer:
The indifference point is 8 weeks.
Step-by-step explanation:
<u>First, we establish the total cost formula for each:</u>
x= number of weeks
Club:
Total cost= 20 + 15*x
Retail:
Total cost= 17.5*x
<u>Now, we equal both formulas and isolate x:</u>
20 + 15x = 17.5x
20 = 2.5x
8=x
The indifference point is 8 weeks.
<u>Prove:</u>
Total cost= 20 + 15*8= $140
Total cost= 17.5*8= $140
Most secured loans are not <u>high-interest</u><u> </u>loans and they are usually backed by collateral.
<h3>What are secured loans?</h3>
Secured loans demand the borrower to dedicate an asset or security as an assurance or collateral for the loan in order to get it.
For example:
- A mortgage on a house or
- An auto loan.
Secured loans are often long-term loans; e.g, the average period of a house loan is 30 years, whereas vehicle loans run 4-5 years.
These kinds of loans are often repaid in monthly installments and have low-interest rates.
Learn more about secured loans here:
brainly.com/question/14997152
To solve this, you need to substitute the value of Y into the equation 8X - Y = -12
So, since Y = 4, plug 4 in for Y:
8X - Y = -12
8X - (4) = -12
Now solve for X.
Does that help? Do you have any questions?
Just as a heads up this technique also works for larger equations. If Y = 3X, then you'd just plug 3X in for Y:
8X - Y = -12
8X - (3X) = -12
You got this!
He spend $22 on a backpack and $3 on a binder. Hope that helps
