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Loan problems The following initial value problems model the payoff of a loan. In each case, solve the initial value problem, for t ≥ 0, graph the solution, and determine the first month in which the loan balance is zero.
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- The scrap value of a machine at the end of its useful life is given by S(n) = C(1-r)", where C is the original cost, n is the useful life of the machine in years, and r is the constant annual percentage of value lost. Find the scrap value of the following machine. Original cost, $49,000; life, 11 years; annual rate of value lost, 13% S=$ (Round to the nearest cent.)arrow_forwardAn investor deposits an initial amount of money (Yo) into a bank account that offers a simple (annually compounding) interest rate (r). The bank charges a fixed annual fee (b). The bank charge is debited after the interest is accumulated. Write down a difference equation that describes how the account balance (Yt) changes over time (t), then solve the equation analytically. If the interest rate is r = 0.1(10%), the bank charge is b = 100 and the investor projects that the account balance in year t = 3 is $2,464, then the %3D initial amount of money is: Select one: Select one: O yo = $2,000 O yo = $2, 100 O yo = $2, 200 O yo = $1,900arrow_forwardThe monthly sales S (in hundreds of units) of baseball equipment for an Internet sporting goods site are approximated by S = 60.1 - 43.9 cost where t is the time (in months), with t = 1 corresponding to January. Determine the months when sales exceed 7700 units at any time during the month. August through April May through September April through August March through August March through Septemberarrow_forward
- If $1 dollar is deposited in an account paying 27% per year compounded annually, then after t years the account will contain y = (1 + 0.27) = 1.27 dollars. (a) Use a calculator to complete the table. (b) Graph 1.27'. (a) Use a calculator to complete the table. 1 2 4 5 6 y 1.27 1.61 3.3 4.2 (Round to two decimal places as needed.) Help me solve this View an example Get more help - R D G Harrow_forwardPresent value is the amount of money that must be invested now at a given rate of interest to produce a given future value. For a 1-year investment, the present value can be calculated using Present value = Future value 1 + r , where r is the yearly interest rate expressed as a decimal. (Thus, if the yearly interest rate is 8%, then 1 + r = 1.08.) If an investment yielding a yearly interest rate of 13% is available, what is the present value of an investment that will be worth $4000 at the end of 1 year? That is, how much must be invested today at 13% in order for the investment to have a value of $4000 at the end of a year? (Round your answer to two decimal places.)arrow_forward1) For the following problem use T=2πLg. Let π≈3.14 and g=32 feet per second2. A child is swinging on a rope 48 feet long over a river swimming hole. How long does it take (in seconds) to complete one swing back and forth? 2) Use the simple interest formula A=p(1+rt) to find the amount of principal plus interest to be repaid on a loan of $18,000 at a simple interest rate of 3% for 12 years. The amount to be repaid (principal plus interest) is $nothing. (Type an integer or a decimal.)arrow_forward
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- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage