A major bank offers a credit card which can be used domestically and internationally. Data gathered over time indicate that the collection percentage for credit issued in any month is an exponential function of the time since the credit was issued. Specifically, the function approximating this relationship is P = f(t) = 0.92(1- e-0.10t) Where P equals the percentage of accounts receivable collected t months after the credit is granted. Use Newton-Raphson method to approximate that after how many months the collected amount will reach 16.676 %. Consider to = 0 , and solve till tolerance level reaches less than 1x105

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Optimization

Optimization comes from the same root as "optimal". "Optimal" means the highest. When you do the optimization process, that is when you are "making it best" to maximize everything and to achieve optimal results, a set of parameters is the base for the selection of the best element for a given system.

Integration

Integration means to sum the things. In mathematics, it is the branch of Calculus which is used to find the area under the curve. The operation subtraction is the inverse of addition, division is the inverse of multiplication. In the same way, integration and differentiation are inverse operators. Differential equations give a relation between a function and its derivative.

Application of Integration

In mathematics, the process of integration is used to compute complex area related problems. With the application of integration, solving area related problems, whether they are a curve, or a curve between lines, can be done easily.

Volume

In mathematics, we describe the term volume as a quantity that can express the total space that an object occupies at any point in time. Usually, volumes can only be calculated for 3-dimensional objects. By 3-dimensional or 3D objects, we mean objects that have length, breadth, and height (or depth).

Area

Area refers to the amount of space a figure encloses and the number of square units that cover a shape. It is two-dimensional and is measured in square units.