In the following exercises, translate to a system of equations and solve. 420. The manufacturer of a granola bar spends $1.20 to make each bar and sells them for $2. The manufacturer also has fixed costs each month of $8,000. (a) Find the cost function C when x granola bars are manufactured (b) Find the revenue function R when x granola bars are sold. (c) Show the break-even point by graphing both the Revenue and Cost functions on the same grid. (d) Find the break-even point. Interpret what the break-even point means.
In the following exercises, translate to a system of equations and solve. 420. The manufacturer of a granola bar spends $1.20 to make each bar and sells them for $2. The manufacturer also has fixed costs each month of $8,000. (a) Find the cost function C when x granola bars are manufactured (b) Find the revenue function R when x granola bars are sold. (c) Show the break-even point by graphing both the Revenue and Cost functions on the same grid. (d) Find the break-even point. Interpret what the break-even point means.
In the following exercises, translate to a system of equations and solve.
420. The manufacturer of a granola bar spends $1.20 to make each bar and sells them for $2. The manufacturer also has fixed costs each month of $8,000.
(a) Find the cost function C when x granola bars are manufactured
(b) Find the revenue function R when x granola bars are sold.
(c) Show the break-even point by graphing both the Revenue and Cost functions on the same grid.
(d) Find the break-even point. Interpret what the break-even point means.
Jamal wants to save $48,000 for a down payment on a home. How much will he need to invest in an
account with 11.8% APR, compounding daily, in order to reach his goal in 10 years? Round to the
nearest dollar.
r
nt
Use the compound interest formula, A (t) = P(1 + 1)".
An account is opened with an intial deposit of $7,500 and earns 3.8% interest compounded semi-
annually. Round all answers to the nearest dollar.
a. What will the account be worth in 10 years? $
b. What if the interest were compounding monthly? $
c. What if the interest were compounded daily (assume 365 days in a year)? $
Kyoko has $10,000 that she wants to invest. Her bank has several accounts to choose from. Her goal is
to have $15,000 by the time she finishes graduate school in 7 years. To the nearest hundredth of a
percent, what should her minimum annual interest rate be in order to reach her goal assuming they
compound daily? (Hint: solve the compound interest formula for the intrerest rate. Also, assume there
are 365 days in a year)
%
Elementary Statistics: Picturing the World (7th Edition)
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