
Concept explainers
Reminder Round all answers to two decimal places unless otherwise indicated.
Note Some of the formulas below use the special number
What if Interest is Compounded More Often than Monthly? Some lending institutions compound interest daily or even continuously. (The term continuous compounding is used when interest is being added as often as possible-that is, at each instant in time.) The point of this exercise is to show that, for most consumer loans, the answer you get with monthly compounding is very close to the right answer, even if the lending institution compounds more often. In part
a. Would you expect your monthly payment to be higher or lower if interest were compounded daily rather than monthly? Explain why.
b. Which would you expect to result in a larger monthly payment, daily compounding or continuous compounding? Explain your reasoning.
c. When interest is compounded continuously, you can calculate your monthly payment
where

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Chapter 1 Solutions
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
- Let R be field and X= R³/s Vector space over R M=(a,b,c)labic, e Rra+b= 3- <3 Show that Ms and why with proof. 1) is convexset and affine set of botost ii) is blanced set and symmetirs set of x iii) is hy per space and hyper plane ofx or hot iii) find f:MR st kerf = M 18/103 and finnd fiM→R/{0} st M= {xEX, f(t) = x, texiαER? jiii) show that Mis Maxsubspace or not and Mis a max. affine set or not.arrow_forwardFind The partial fraction decomposition for each The following 2× B) (x+3) a 3 6 X-3x+2x-6arrow_forward1) Find the partial feraction decomposition for each of 5- X 2 2x+x-1 The following: 3 B) 3 X + 3xarrow_forward
- Kate, Luke, Mary and Nancy are sharing a cake. The cake had previously been divided into four slices (s1, s2, s3 and s4). The following table shows the values of the slices in the eyes of each player. What is fair share to nancy? S1 S2 S3 S4 Kate $4.00 $6.00 $6.00 $4.00 Luke $5.30 $5.00 $5.25 $5.45 Mary $4.25 $4.50 $3.50 $3.75 Nancy $6.00 $4.00 $4.00 $6.00arrow_forwardKate, Luke, Mary and Nancy are sharing a cake. The cake had previously been divided into four slices (s1, s2, s3 and s4). The following table shows the values of the slices in the eyes of each player. S1 S2 S3 S4 Kate $4.00 $6.00 $6.00 $4.00 Luke $5.30 $5.00 $5.25 $5.45 Mary $4.25 $4.50 $3.50 $3.75 Nancy $6.00 $4.00 $4.00 $6.00 how much is the cak worth to maryarrow_forwardKate, Luke, Mary and Nancy are sharing a cake. The cake had previously been divided into four slices (s1, s2, s3 and s4). The following table shows the values of the slices in the eyes of each player. What is the threshold of fair share for Luke? S1 S2 S3 S4 Kate $4.00 $6.00 $6.00 $4.00 Luke $5.30 $5.00 $5.25 $5.45 Mary $4.25 $4.50 $3.50 $3.75 Nancy $6.00 $4.00 $4.00 $6.00arrow_forward
- 2. A microwave manufacturing firm has determined that their profit function is P(x)=-0.0014x+0.3x²+6x-355 , where is the number of microwaves sold annually. a. Graph the profit function using a calculator. b. Determine a reasonable viewing window for the function. c. Approximate all of the zeros of the function using the CALC menu of your calculator. d. What must be the range of microwaves sold in order for the firm to profit?arrow_forwardA clothing manufacturer's profitability can be modeled by p (x)=-x4 + 40x² - 144, where .x is the number of items sold in thousands and p (x) is the company's profit in thousands of dollars. a. Sketch the function on your calculator and describe the end behavior. b. Determine the zeros of the function. c. Between what two values should the company sell in order to be profitable? d. Explain why only two of the zeros are considered in part c.arrow_forwardCCSS REASONING The number of subscribers using pagers in the United States can be modeled by f(x) = 0.015x4 -0.44x³ +3.46x² - 2.7x+9.68 where x is the number of years after 1990 and f(x) is the number of subscribers in millions. a. Graph the function. b. Describe the end behavior of the graph. c. What does the end behavior suggest about the number of pager subscribers? d. Will this trend continue indefinitely? Explain your reasoning.arrow_forward
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillAlgebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage
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