What is the future value of $500 to be received 3 years from now if the discount rate is 10%?
1 answer:
You might be interested in
Answer:
3.189 seconds
Step-by-step explanation:
You want f(t) = 0, so ...
0 = -16t^2 +13.4t +120
0 = t^2 -0.8375t -7.5 . . . . divide by -16
0 = (t^2 -0.8375t +0.41875^2) -7.5 -0.41875^2 . . . . complete the square*
0 = (t -0.41875)^2 -7.6753515625 . . . . write as a square
√7.6753515625 = t -0.41875 . . . . . . . . add 7.67... and take positive root
t = 0.41875 +√7.6753515625 ≈ 3.189192 . . . . add 0.41875
It will take the rock about 3.189 seconds to hit the ground.
_____
* We complete the square by adding the square of half the coefficient of the linear term (= (-0.8375/2)^2) inside parentheses and subtracting the same amount outside parentheses. This gives a form inside parentheses that is ...
(t^2 -2at +a^2) = (t -a)^2
Completing the square is complicated a little bit by a leading coefficient that is not 1. That is why we divided by -16 first.
_____
<em>Comment on the question</em>
We note that the rock "falls" from the 120 foot high balcony by first traveling upward at a rate of 13.4 feet per second. We also note that the height function is written f(x), but uses t as the variable. That is, it should be f(t) = ...
