= 118
1 answer:
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We are given the function below;
PART A
We then proceed to find if the function has a minimum or maximum value. To find if the function has a minimum or maximum value. If the x^2 coefficient is positive, the function has a minimum. If it is negative, the function has a maximum.
ANSWER: From the above, we can see that x^2 is negative, hence the function has a maximum
PART B and C
To find the minimum or maximum value, we would plot the graph of the f(x). The graph can be seen below.
From the graph, the black point helps answer part A and part B.
ANSWER: The function's maximum value is f(x)=2.
This is the point where the slope of the graph is equal to zero
ANSWER: The maximum value then occurs at x= -1
We can also solve this by differentiating the function.
Given:
• Amount to save, A = $28,000
,• Time, t = 6 years
,• Interest rate, r = 5.3% ==> 0.053
,• Number of times compounded = quarterly = 4 times
Let's find the amount that must be deposited into the account quarterly.
Apply the formula:
Where:
FV is the future value = $28,000
r = 0.053
n = 4
t = 6 years
Thus, we have:
Let's solve for P.
We have:
Solving further:
Divide both sides by 28.0384237:
Therefore, the amount that must be deposited quarterly into the account is $998.60
ANSWER:
$998.60