What must be the annual payment you receive in order to earn 6.3% rate of return on a perpetuity that has a price of $245.1? (An
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<span>"The company pays $55 a day for food and lodging and $0.45 for each mile traveled" means that if she travels m miles and is on a trip for x days then Rita will receive:
55x + 0.45m dollars.
Rita drove 300 miles, means that m=300. Thus </span>55x + 0.45m becomes <span>
</span>
(dollars.)
She was reimbursed $2,335 means that
.
Part A:.
Part B:
We are given the equation 55x+135=2,335. Subtracting 135 from both sides we have:
55x=2,335-135=2,200.
Dividing both sides by 55, we get: x=2,200/55=40.
Part C: since x represents the number of days Rita spend on this trip, and x=40, then Rita spent 40 days on this trip.
55x + 0.45m dollars.
Rita drove 300 miles, means that m=300. Thus </span>55x + 0.45m becomes <span>
</span>
She was reimbursed $2,335 means that
Part A:
Part B:
We are given the equation 55x+135=2,335. Subtracting 135 from both sides we have:
55x=2,335-135=2,200.
Dividing both sides by 55, we get: x=2,200/55=40.
Part C: since x represents the number of days Rita spend on this trip, and x=40, then Rita spent 40 days on this trip.
If you are asking to simplify, this is what I got. Hope I was able to help
