Olivia is going to invest $32,000 and leave it in an account for 15 years. Assuming the interest is compounded monthly, what int
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The problem can be solved step by step, if we know certain basic rules of summation. Following rules assume summation limits are identical.
Armed with the above rules, we can split up the summation into simple terms:
=> (a) f(x)=28n-n^2
=> f'(x)=28-2n
=> at f'(x)=0 => x=14
Since f''(x)=-2 <0 therefore f(14) is a maximum
(b) f(x) is a maximum when n=14
(c) the maximum value of f(x) is f(14)=196
Armed with the above rules, we can split up the summation into simple terms:
=> (a) f(x)=28n-n^2
=> f'(x)=28-2n
=> at f'(x)=0 => x=14
Since f''(x)=-2 <0 therefore f(14) is a maximum
(b) f(x) is a maximum when n=14
(c) the maximum value of f(x) is f(14)=196