Michael spent $18 at a local farmers' market. The apples
2 answers:
You might be interested in
<h2>Answer:</h2>
In the 5th year
<h2>Step-by-step explanation:</h2>For the first year, the salary is 1.2million = 1,200,000
For the second year, the salary is 1.2million + 75000 = 1,200,000 + 75,000 = 1,275,000
.
.
.
For the last year, the salary is 1.5million = 1,500,000
This gives the following sequence...
1,200,000 1,275,000 . . . 1,500,000
This follows an arithmetic progression with an increment of 75,000.
<em>Remember that,</em>
The last term, L, of an arithmetic progression is given by;
L = a + (n - 1)d ---------------(i)
<em>Where;</em>
a = first term of the sequence
n = number of terms in the sequence (which is the number of years)
d = the common difference or increment of the sequence
<em>From the given sequence,</em>
a = 1,200,000 [which is the first salary]
d = 75,000 [which is the increment in salary]
L = 1,500,000 [which is the maximum salary]
<em>Substitute these values into equation (i) as follows;</em>
1,500,000 = 1,200,00 + (n - 1) 75,000
1,500,000 - 1,200,000 = 75,000(n-1)
300,000 = 75,000(n - 1)
4 = n - 1
n = 5
Therefore, in the 5th year the maximum salary will be reached.
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.