Chapter 3.5, Problem 4E

Reminder Round all answers to two decimal places unless otherwise indicated.

Cost and Revenue The cost $C$ and the revenue $R$ for a brokerage firm depend on the number $T$ of transactions executed. (Both $C$ and $R$ are measured in dollars.) It costs $750 per day to keep the office open, and brokers are paid an average of $25 per transaction. Also, $35 in fees are collected for each transaction.

a. Find a formula that gives $C$ as a function of $T$.

b. Find a formula that gives $R$ as a function of $T$.

c. Find the number of daily transactions that are needed to make the revenue $1500 more than the cost.