If the yearly membership for a professional organization is $250 per year for the current year and increases by $25 per year, find the average cost per year if a person joins for 5 yr, 10 yr, and 15 yr,
If the yearly membership for a professional organization is $250 per year for the current year and increases by $25 per year, find the average cost per year if a person joins for 5 yr, 10 yr, and 15 yr,
Solution Summary: The author calculates the average cost per year if a person joins for 5 years, 10 years and 15 years.
To calculate: If the yearly membership for a professional organization is $250 per year for the current year and increases by $25 per year, find the average cost per year if a person joins for 5 yr, 10 yr, and 15 yr,
b)
To determine
If the professional organization offers a one-time fee of $2000 for a lifetime membership, find the average cost per year C2¯(x) (in $) for x years of membership.
c)
To determine
To calculate: The yearly membership for a professional organization is $250 per year for the
Current year and increases by $25 per year, find the average cost per year for 5 yr, 10 yr, and 15 yr, if a person purchases a lifetime membership.
d)
To determine
For a graph of y=C2¯(x)=2000x, provide the meaning of the horizontal asymptote for the graph of y=C2¯(x).
How long will it take you to double your money if you invest it at a rate
of 8% compounded annually?
One hundred dollars is invested at 7.2% interest compounded annually.
Determine how much the investment is worth after:
a. I year
b. 5 years
c. 10 years
d. 20 years
e. Use your answers to parts (a)-(d) to estimate the doubling time for the
investment.
6) A farmer has 60 acres on which to plant oats or corn. Each acre of oats requires 100 lbs of fertilizer and 1 hour
of labor. Each acre of corn requires 50 lbs of fertilizer and 2 hours of labor. The farmer has 5000 lbs of
fertilizer and 100 hours available for labor. If the profit is $60 from each acre of oats and $100 from each acre
of corn, what planting combination will produce the greatest total profit?
a) Fill in the following chart to help organize the information given in the problem:
Oats
Labor
Fertilizer
Land
Profit
b) Write down the question of interest.
Corn
Available
c) Define variables to answer the question of interest. Call these x and y.
d) Write the objective function to answer the question of interest.
e) List any constraints given in the problem.
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