Tutors Answer Your Questions about Finance (FREE)
Question 1172731: Please solve this
A city centre tour guide currently charges $34 for a full dayβs tour. The average number of
customers is 48. Market research suggests that for every $1 increase in tour price, the guide can
expect to lose two customers per tour.
(a) Show that if the price increase is $x, then the expected revenue from each tour is
β2x2β 20x + 1632
(b) The guide needs to ensure that the expected revenue is at least $1440. By solving a quadratic
inequality, find the range of prices that need to be charged.
(c) What price should be charged to maximize expected revenue?
Click here to see answer by Solver92311(821)   |
Question 1172728: Please solve this
A city centre tour guide currently charges $34 for a full dayβs tour. The average number of
customers is 48. Market research suggests that for every $1 increase in tour price, the guide can
expect to lose two customers per tour.
(a) Show that if the price increase is $x, then the expected revenue from each tour is
β2x2β 20x + 1632
(b) The guide needs to ensure that the expected revenue is at least $1440. By solving a quadratic
inequality, find the range of prices that need to be charged.
(c) What price should be charged to maximize expected revenue?
Click here to see answer by Solver92311(821) |
Question 1172730: : A distribution centre sends three different types of parcels. One consignment has 6 small, 8
medium and 9 large parcels which cost $173.20 to post. Another consignment has 7 small, 13
medium and 17 large parcels with total postage $291.05. A large parcel costs twice as much to
post as a small one. Work out the total cost of posting 3 small parcels, 9 medium parcels and 2
large parcels.
Please solve this
Click here to see answer by Solver92311(821) |
Question 1172724: Please solve this
A distribution centre sends three different types of parcels. One consignment has 6 small, 8
medium and 9 large parcels which cost $173.20 to post. Another consignment has 7 small, 13
medium and 17 large parcels with total postage $291.05. A large parcel costs twice as much to
post as a small one. Work out the total cost of posting 3 small parcels, 9 medium parcels and 2
large parcels.
Click here to see answer by Solver92311(821) |
Question 1172714: A distribution centre sends three different types of parcels. One consignment has 6 small, 8
medium and 9 large parcels which cost $173.20 to post. Another consignment has 7 small, 13
medium and 17 large parcels with total postage $291.05. A large parcel costs twice as much to
post as a small one. Work out the total cost of posting 3 small parcels, 9 medium parcels and 2
large parcels.
Click here to see answer by Solver92311(821) |
Question 1172713: A distribution centre sends three different types of parcels. One consignment has 6 small, 8
medium and 9 large parcels which cost $173.20 to post. Another consignment has 7 small, 13
medium and 17 large parcels with total postage $291.05. A large parcel costs twice as much to
post as a small one. Work out the total cost of posting 3 small parcels, 9 medium parcels and 2
large parcels.
Q3: The demand
Click here to see answer by Solver92311(821) |
Question 1172717: A city centre tour guide currently charges $34 for a full dayβs tour. The average number of
customers is 48. Market research suggests that for every $1 increase in tour price, the guide can
expect to lose two customers per tour.
(a) Show that if the price increase is $x, then the expected revenue from each tour is
β2x
2
β 20x + 1632
(b) The guide needs to ensure that the expected revenue is at least $1440. By solving a quadratic
inequality, find the range of prices that need to be charged.
(c) What price should be charged to maximize expected revenue?
Click here to see answer by Solver92311(821) |
Question 1172717: A city centre tour guide currently charges $34 for a full dayβs tour. The average number of
customers is 48. Market research suggests that for every $1 increase in tour price, the guide can
expect to lose two customers per tour.
(a) Show that if the price increase is $x, then the expected revenue from each tour is
β2x
2
β 20x + 1632
(b) The guide needs to ensure that the expected revenue is at least $1440. By solving a quadratic
inequality, find the range of prices that need to be charged.
(c) What price should be charged to maximize expected revenue?
Click here to see answer by ankor@dixie-net.com(22740)  |
Question 1172740: Latron believes if he cuts back on his part-time job he can spend some additional time working out over the next 20 weeks and earn an athletic scholarship to the local college however coming back at work means he will forgo making $10 an hour at his uncle shop assuming he now works only 10 hours a week with his reduced schedule instead of the normal 22 hours a week how much will the scholarship have to pay for him to break even
Click here to see answer by ikleyn(52781)  |
Question 1172736: Using daily compounding, calculate the compound amount (in $) of a $7,000 investment for each of the three CDs.
The First National Bank is offering a 5 year CD at 3% interest.
The Second National Bank is offering a 5 year CD at 4% interest.
The Third National Bank has a 5 year CD at 4.5% interest.
I used the formula A=P (1 + i/365)^n
I got 7065.31 and 7002.88 for the first national bank but they were marked wrong. Is there another formula I should follow?
Click here to see answer by ikleyn(52781) |
Question 1172726: Please solve this
The number of complaints, N, received by a small company each month can be modeled by
N = 80log10(7 + 10t)
where t denotes the number of months since the companyβs launch.
(a) Estimate the number of complaints received by the company each month for the first six
months of trading.
(b) Plot a graph of N against t and hence comment on how N varies with t.
Click here to see answer by ikleyn(52781) |
Question 1172744: The First National Bank is offering a 5 year certificate of deposit (CD) at 4% interest compounded quarterly. (Round your answers to two decimal places.)
What is the annual percentage yield of each CD?
I got the compound amount, which is $8541.33.
I'm having trouble getting the APY. I got 22.02% which was wrong.
Click here to see answer by ikleyn(52781) |
Question 1172747: Paul and Donna Kelsch are planning a Mediterranean cruise in 3 years and will need $9,500 for the trip. They decide to set up a "sinking fund" savings account for the vacation. They intend to make regular payments at the end of each 3 month period into the account that pays 6% interest compounded quarterly. What periodic sinking fund payment (in $) will allow them to achieve their vacation goal? (Round your answer to the nearest cent.)
Click here to see answer by ikleyn(52781) |
Question 1172705: Suppose Jorge Otero has set up an annuity due with a certain credit union. At the beginning of each month, $130 is electronically debited from his checking account and placed into a savings account earning 6% interest compounded monthly. What is the value (in $) of Jorge's account after 17 months? (Round your answer to the nearest cent.)
I got the answer 46149.6
I put my numbers in this formula FV (annuity due) payment x (1+i)^n-1/i x (1+i)
Click here to see answer by math_helper(2461)  |
Question 1172784: Please solve this fast my test is tomorrow
Q6: The number of complaints, N, received by a small company each month can be modeled by
N = 80log10(7 + 10t)
where t denotes the number of months since the companyβs launch.
(a) Estimate the number of complaints received by the company each month for the first six
months of trading.
(b) Plot a graph of N against t and hence comment on how N varies with t.
Q7: The value of a second-hand car reduces exponentially with age, so that it
Click here to see answer by Theo(13342)  |
Question 1172778: Will you please kindly help with this question on compound interest.800 is invested at r% per annum simple interest for 3 years to 168, use formula SI=PRT all divided by 100 to calculate the value of r.
Click here to see answer by Theo(13342) |
Question 1172779: A team of financial advisers guiding the launch of a national newspaper has modeled the
future circulation of the newspaper by the equation
π = π(1 β πβππ‘)
where N is the daily circulation after t days of publication, and c and k are positive constants.
Transpose this formula to show that
π‘ =1πππ ππ β π
When the paper is launched, audits show that
c = 700 000 and k = (1/30) ln2
(a) Calculate the daily circulation after 30 days of publication.
(b) After how many days will the daily circulation first reach 525 000?
(c) What advice can you give the newspaper proprietor if it is known that the paper will break
even only if the daily circulation exceeds 750 000?
Click here to see answer by Solver92311(821) |
Question 1172780: A distribution centre sends three different types of parcels. One consignment has 6 small, 8
medium and 9 large parcels which cost $173.20 to post. Another consignment has 7 small, 13
medium and 17 large parcels with total postage $291.05. A large parcel costs twice as much to
post as a small one. Work out the total cost of posting 3 small parcels, 9 medium parcels and 2
large parcels.
Click here to see answer by greenestamps(13200)  |
Question 1172796: You are the vice president of finance for a manufacturer of scuba diving gear. The company is planning a major plant expansion in 5 years. You have decided to start a sinking fund to accumulate the funds necessary for the project. Your company's investments yield 12% compounded quarterly. It is estimated that $3,000,000 in today's dollars will be required; however, the inflation rate on construction costs and plant equipment is expected to average 6% per year for the next 5 years.
A) Use the compound interest concept to determine how much (in $) will be required for the project, taking inflation into account.
B) What sinking fund payments (in $) will be required at the end of every 3-month period to accumulate the necessary funds?
For A, I used the compound interest formula of compound amount - principal. I got 1,040,580 and 2,418,330. Both answers were wrong.
For B, I used the sinking value formula: future value x i/(1+i)^n-1. My answers were 129,737.21 and 111,647.12
Click here to see answer by Theo(13342) |
Question 1172818: Tickets in the ocean park cost 500$ for adults and 400$ for children. The management collected a total amount of not more than 80 000$ from 120 adults and children. What are the possible number of adults and children in the Ocean Park? (find the inequality then GRAPH)
Click here to see answer by mahikab(11) |
Question 1172818: Tickets in the ocean park cost 500$ for adults and 400$ for children. The management collected a total amount of not more than 80 000$ from 120 adults and children. What are the possible number of adults and children in the Ocean Park? (find the inequality then GRAPH)
Click here to see answer by ikleyn(52781) |
Question 1172839: Suppose a certain manufacturer deposits $9,000 at the beginning of each 3 month period for 6 years in an account paying 8% interest compounded quarterly. (Round your answers to the nearest cent.)
How much (in $) will be in the account at the end of the 6 year period?
What is the total amount (in $) of interest earned in this account?
I was able to find how much the account will be in 6 years which is $279272.7
I'm not sure how to find the total amount of interest earned.
Click here to see answer by ikleyn(52781) |
Question 1172840: Jennifer Kaufman bought a used Toyota Prius for $17,500. She made a $4,500 down payment and is financing the balance at a particular bank over a 3 year period at 12% interest. As her banker, calculate what equal monthly payments (in $) will be required by Jennifer to amortize the car loan. (Round your answer to the nearest cent.)
I subtracted $17,500 to $4,500 and got $13,000.
I then did 13,000 x .001/1-(1+.001)^36 = -354.83, which was wrong.
Click here to see answer by Boreal(15235)  |
Question 1172746: Suppose Jorge Otero has set up an annuity due with a certain credit union. At the beginning of each month, $130 is electronically debited from his checking account and placed into a savings account earning 6% interest compounded monthly. What is the value (in $) of Jorge's account after 17 months? (Round your answer to the nearest cent.)
I used this formula: FV (annuity due) = payment x (1+i)^n-1/i x (1+i)
Click here to see answer by Theo(13342) |
Question 1172824: A car leaves town X for town Y 120 km away at an average speed of 80 km/hr at 8:30 a.m. At the same time a bus leaves town Y for town X at an average speed of 60 km/hr. At 8:30 a.m, a cyclist leaves town Y for town X at an average speed of 30 km/hr
(a)Calculate the time when the bus meets the car to the nearest minute. (3mks)
(b)Calculate the distance between the car and the bus by the time the cyclist meets the car (4marks)
(c)If the bus upon reaching town X stops for 10 minutes then starts its journey back to Y. Calculate how far from X the bus meets the cyclist
Click here to see answer by Boreal(15235) |
Question 1172953: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on interest loan. (Round your answers to the nearest cent.)
purchase price: $2,000
down payment: 15%
amount financed: $1700
add on interest: 13.25%
number of payments: 30
finance charge: ____
monthly payment: ______
I was able to get the amount finance but I'm having a hard time getting the finance charge and monthly payment. I tired I=PRT and put in 1700 x .1325 x 12 and got 2703 which was wrong. I just used 12 because of monthly payments..
Click here to see answer by Theo(13342) |
Question 1172985: The Candido PILI Delicacies has 3 stores (A, B, C) which supplies it's 3 provincial customers (D, E, F) with their best selling product. Below is a table showing the capacity of each store, the requirements of each customer and the unit cost for shipping to each customer.
Store D E F Capacity
A 30 40 10 150
B 20 10 50 100
C 70 20 20 250
Demand 200 160 140
Find the optimal strategy and minimum cost of transporting their best selling product from store to customer.
Click here to see answer by ikleyn(52781) |
Question 1173012: In a non-leap year, the city of Montreal experienced 12 days less frost than the city of Quebec. In all, the two cities experienced 224 days of frost. How many frost-free days did the city of Montreal experience that year?
Click here to see answer by ikleyn(52781) |
Question 1173018: A person wishes to deposit $5,000 per year in a savings account which earns interest of 8 percent per year compounded annually. Assume the first deposit is made at the end of this current year and additional deposita at the end of each following year. (a) To what sum will the investment grow at the time of the 10th deposit?
(b) How much interest will be earned?
2 A company wants to deposit $500,000 per year in an investment which earns interest of10 percent per year compounded annually. Assume the first deposit is made at the end of the current year and additional deposits at the end of each following year. (a) To what sum will the investment grow at the time of the 10th deposit? (b) How much interest will be earned?
3 A mother wishes to set up a savings account for her son's education. She plans on investing $750 when her son is 6 months old and every 6 months thereafter. The account earns interest of 8 percent per year, compounded semiannually.
(a) To what amount will the account grow by the time of her son's 18th birthday? (b) How much interest will be earned during this period?
4 A local university is planning to invest $500,000 every 3 months in an investment which earns interest at the rate of 12 percent per year compounded quarterly. The first investment will be at the end of this current quarter. (a) To what sum will the investment grow at the end of 5 years?
(b) How much interest will be earned during this period? 5 A person wants to deposit $10,000 per year for 6 years. If interest is earned at the rate of
10 percent per year, compute the amount to which the deposits will grow by the end of the 6 years if:
(a) Deposits of $10,000 are made at the end of each year with interest compounded annually.
(b) Deposits of $5,000 are made at the end of each 6-month period with interest com pounded semiannually.
(e) Deposits of $2,500 are made at the end of every quarter with interest compounded
Question no 02:
1. Find the simple interest earned on a deposit of $5,750 that is left on deposit for 3.5 years and earns an annual interest rate of 4.5%.
2. Three years after investing $15,000, a retired couple received a check for $3,375 in simple interest.Find the annual interest rate their money earned during that time.
3. For their newborn child, parents deposit $10,000 in a college account that pays 8% interest, compounded annually. How much will be in the account on the child's 17th birthday?
4. If the parents in part e invested $10,000 in an account paying 8%, compounded quarterly, how much
more money would they have after 17 years?
5. What sum must be deposited today at 18% per year compounded monthly if the goal is to a compound
amount of $50, 000 six years from today? How much interest will be earned during this period?
Question no 03:
1. Determine the present value of a series of 60 monthly payments of $2,500 each which begins 1 month from today. Assume interest of 12 percent per year compounded monthly
2. Determine the present value of a series of 36 monthly payments of $5,000 each which begins 1 month from today. Assume interest of 18 percent per year compounded monthly
3. A person wants to buy a life insurance policy which would yield a large enough sum of
money to provide for 20 annual payments of $50,000 to surviving members of the family. The payments would begin 1 year from the time of death. It is assumed that interest could be earned on the sum received from the policy at a rate of 8 percent per year compounded annually.
(a) What amount of insurance should be taken out so as to ensure the desired annuity? (b) How much interest will be earned on the policy benefits over the 20-year period?
Question no 04:
Solve the following system of equations Using Inverse Matrix Method
X-3y +z = 2 3x - 4y +z = 0
4x + 2y-z=1
Click here to see answer by ikleyn(52781) |
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Older solutions: 1..45, 46..90, 91..135, 136..180, 181..225, 226..270, 271..315, 316..360, 361..405, 406..450, 451..495, 496..540, 541..585, 586..630, 631..675, 676..720, 721..765, 766..810, 811..855, 856..900, 901..945, 946..990, 991..1035, 1036..1080, 1081..1125, 1126..1170, 1171..1215, 1216..1260, 1261..1305, 1306..1350, 1351..1395, 1396..1440, 1441..1485, 1486..1530, 1531..1575, 1576..1620, 1621..1665, 1666..1710, 1711..1755, 1756..1800, 1801..1845, 1846..1890, 1891..1935, 1936..1980, 1981..2025, 2026..2070, 2071..2115, 2116..2160, 2161..2205, 2206..2250, 2251..2295, 2296..2340, 2341..2385, 2386..2430, 2431..2475, 2476..2520, 2521..2565, 2566..2610, 2611..2655, 2656..2700, 2701..2745, 2746..2790, 2791..2835, 2836..2880, 2881..2925, 2926..2970, 2971..3015, 3016..3060, 3061..3105, 3106..3150, 3151..3195, 3196..3240, 3241..3285, 3286..3330, 3331..3375, 3376..3420, 3421..3465, 3466..3510, 3511..3555, 3556..3600, 3601..3645, 3646..3690, 3691..3735, 3736..3780, 3781..3825, 3826..3870, 3871..3915, 3916..3960, 3961..4005, 4006..4050, 4051..4095, 4096..4140, 4141..4185, 4186..4230, 4231..4275, 4276..4320, 4321..4365, 4366..4410, 4411..4455, 4456..4500, 4501..4545, 4546..4590, 4591..4635, 4636..4680, 4681..4725, 4726..4770, 4771..4815, 4816..4860, 4861..4905, 4906..4950, 4951..4995, 4996..5040, 5041..5085, 5086..5130, 5131..5175, 5176..5220, 5221..5265, 5266..5310, 5311..5355, 5356..5400, 5401..5445, 5446..5490, 5491..5535, 5536..5580, 5581..5625, 5626..5670, 5671..5715, 5716..5760, 5761..5805, 5806..5850, 5851..5895, 5896..5940, 5941..5985, 5986..6030, 6031..6075, 6076..6120, 6121..6165, 6166..6210, 6211..6255, 6256..6300, 6301..6345, 6346..6390, 6391..6435, 6436..6480, 6481..6525, 6526..6570, 6571..6615, 6616..6660, 6661..6705, 6706..6750, 6751..6795, 6796..6840, 6841..6885, 6886..6930, 6931..6975, 6976..7020, 7021..7065, 7066..7110, 7111..7155, 7156..7200, 7201..7245, 7246..7290, 7291..7335, 7336..7380, 7381..7425, 7426..7470, 7471..7515, 7516..7560, 7561..7605, 7606..7650, 7651..7695, 7696..7740, 7741..7785, 7786..7830, 7831..7875, 7876..7920, 7921..7965, 7966..8010, 8011..8055, 8056..8100, 8101..8145, 8146..8190, 8191..8235, 8236..8280, 8281..8325, 8326..8370, 8371..8415, 8416..8460, 8461..8505, 8506..8550, 8551..8595, 8596..8640, 8641..8685, 8686..8730, 8731..8775, 8776..8820, 8821..8865, 8866..8910, 8911..8955, 8956..9000, 9001..9045, 9046..9090, 9091..9135, 9136..9180, 9181..9225, 9226..9270, 9271..9315, 9316..9360, 9361..9405, 9406..9450, 9451..9495, 9496..9540, 9541..9585, 9586..9630, 9631..9675, 9676..9720, 9721..9765, 9766..9810, 9811..9855, 9856..9900, 9901..9945, 9946..9990, 9991..10035, 10036..10080, 10081..10125, 10126..10170, 10171..10215, 10216..10260, 10261..10305, 10306..10350, 10351..10395, 10396..10440, 10441..10485, 10486..10530, 10531..10575, 10576..10620, 10621..10665, 10666..10710, 10711..10755, 10756..10800, 10801..10845, 10846..10890, 10891..10935, 10936..10980, 10981..11025, 11026..11070, 11071..11115, 11116..11160, 11161..11205, 11206..11250, 11251..11295, 11296..11340, 11341..11385, 11386..11430, 11431..11475, 11476..11520, 11521..11565, 11566..11610, 11611..11655, 11656..11700, 11701..11745, 11746..11790, 11791..11835, 11836..11880, 11881..11925, 11926..11970, 11971..12015, 12016..12060, 12061..12105, 12106..12150, 12151..12195, 12196..12240, 12241..12285, 12286..12330, 12331..12375, 12376..12420, 12421..12465, 12466..12510, 12511..12555, 12556..12600, 12601..12645, 12646..12690, 12691..12735, 12736..12780, 12781..12825, 12826..12870, 12871..12915, 12916..12960, 12961..13005, 13006..13050, 13051..13095, 13096..13140, 13141..13185, 13186..13230, 13231..13275, 13276..13320, 13321..13365, 13366..13410, 13411..13455, 13456..13500, 13501..13545, 13546..13590, 13591..13635, 13636..13680, 13681..13725, 13726..13770, 13771..13815, 13816..13860, 13861..13905, 13906..13950, 13951..13995, 13996..14040, 14041..14085, 14086..14130, 14131..14175, 14176..14220, 14221..14265, 14266..14310, 14311..14355, 14356..14400, 14401..14445, 14446..14490, 14491..14535, 14536..14580, 14581..14625, 14626..14670, 14671..14715, 14716..14760, 14761..14805, 14806..14850, 14851..14895, 14896..14940, 14941..14985, 14986..15030, 15031..15075, 15076..15120, 15121..15165, 15166..15210, 15211..15255, 15256..15300, 15301..15345, 15346..15390, 15391..15435, 15436..15480, 15481..15525, 15526..15570, 15571..15615, 15616..15660, 15661..15705, 15706..15750, 15751..15795, 15796..15840, 15841..15885, 15886..15930, 15931..15975, 15976..16020, 16021..16065, 16066..16110, 16111..16155, 16156..16200, 16201..16245, 16246..16290, 16291..16335, 16336..16380, 16381..16425, 16426..16470, 16471..16515, 16516..16560
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