Lindsay owns one-third the number of books that Destiny owns. Henry owns a fourth as many books as Destiny. Together they own 57
2 answers:
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Answer:
The amount needed as a one-time deposit to earn $7,500 in 3 years is <em>$4388.17</em>
Step-by-step explanation:
<u>Basic Finance Formulas </u>
One of the most-used formulas to compute present and future values is
Where FV is the future value, PV is the present value, r is the interest rate and n is the number of periods. It's vital to keep in mind that r and n must be referred to the same compounded time, e.g. r is compounded monthly and n is expressed in months
The question requires to compute the PV needed as a one-time deposit to earn a future value of $7,500 in 3 years at a 1.5% rate compounded monthly.
FV=7,500
r=1.5%=0.015
n=3*12=36 months
We converted n to months because r is compounded monthly . The formula
must be managed to make PV isolated
Answer: The amount needed as a one-time deposit to earn $7,500 in 3 years is $4388.17
The total cost of the factory will be the sum of its variable costs and it's fixed costs. The factory has fixed costs of $53,900 and variable costs of $12.50 per unit produced. Let be the number of toy's produced by this Toby's Tiny Toys, then the total variable costs will be
. From this information we can gather that the cost function for this factory is,
On the other hand, if we let be the number of toys sold, we can gather that at the selling price of 16.50, the revenue function will be ,
Toby's Tiny Toys will reach their break even point when the total costs are equal to the total revenue. At this break even point ,we have that
The company has to sell 134 750 units to break even.