Becky received a statement on her Certificate of Deposit showing that her investment had returned $6,336 over its life. If the C
1 answer:
The amount of money returned as interest depends on the initial
amount, the interest rate and the number of years.
Response:
- The money has been invested for <u>9 years</u>
Given:
The return on investment = $6,336
Amount the Certificate of Deposit pays = 4.4% simple interest
The initial investment (the principal), P= $16,000
Required:
The duration the initial amount of money had been invested.
Solution:
Interest = Principal × Rate × Time
Which gives;
Therefore;
- The duration the money had been invested = <u>9 years</u>
Learn more about simple interest here:
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Answer:
0 < t <
After 1.67 days the stocks would be sold out.
Step-by-step explanation:
The price of a certain computer stock after t days is modeled by
p(t) = 100 + 20t - 6t²
Now we will take the derivative of the given function and equate it to zero to find the critical points,
p'(t) = 20 - 12t = 0
t =
t = days
Therefore, there are two intervals in which the given function is defined
(0, ) and (
, ∞)
For the interval (0, ),
p'(1) = 20 - 12(1) = 20
For the interval (, ∞),
p'(2) = 20 - 12(2) = -4
Positive value of p'(t) in the interval (0, ) indicates that the function is increasing.
0 < t <
Since at the point t = 1.67 days curve is showing the maximum, so the stocks should be sold after 1.67 days.