An account earning 6.6% interest compounded continuously for 10 years would have a balance
of how much if the principal was $550.
$984.96
$1046.41
O$1064.14

Answers

Answer 1

Answer:

To find the final balance of an account earning interest compounded continuously, you can use the formula:

A = Pe^(rt)

where A is the final account balance, P is the initial principal (or starting) amount, r is the interest rate, and t is the time (in years) for which the interest is being calculated.

Substituting in the given values:

A = 550 * e^(0.066 * 10)

Therefore, the final balance would be approximately $1064.14.

Answer 2

Answer:

C)  $1064.14

Step-by-step explanation:

[tex]\boxed{\begin{minipage}{8.5 cm}\underline{Continuous Compounding Formula}\\\\$ A=Pe^{rt}$\\\\where:\\\\ \phantom{ww}$\bullet$ $A =$ final amount \\\phantom{ww}$\bullet$ $P =$ principal amount \\\phantom{ww}$\bullet$ $e =$ Euler's number (constant) \\\phantom{ww}$\bullet$ $r =$ annual interest rate (in decimal form) \\\phantom{ww}$\bullet$ $t =$ time (in years) \\\end{minipage}}[/tex]

Given:

P = $550r = 6.6% = 0.066t = 10 years

Substitute the given values into the continuous compounding formula and solve for A:

[tex]\implies A=550e^{0.066 \times 10}[/tex]

[tex]\implies A=550e^{0.66}[/tex]

[tex]\implies A=550(1.93479233...)[/tex]

[tex]\implies A=1064.13578...[/tex]

Therefore, the balance of the account after 10 years would be $1064.14.


Related Questions

Please help meeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

Answers

Answer:

a) x = 1.5 or x = -0.3

b) x = 5 or x = -8

Explanation:

Quadratic formula:

[tex]\sf x = \dfrac{ -b \pm \sqrt{b^2 - 4ac}}{2a} \quad when \:\: ax^2 + bx + c = 0[/tex]

Here given equation: 5x² - 6x  - 2 = 0

Identify variable constants: a = 5, b = -6, c = -2

Putting these values into equation:

[tex]\sf x = \dfrac{ -(-6) \pm \sqrt{(-6)^2 - 4(5)(-2)}}{2(5)}[/tex]

[tex]\sf x = \dfrac{ 6 \pm \sqrt{36 + 40}}{10}[/tex]

[tex]\sf x = \dfrac{ 6 \pm \sqrt{76}}{10}[/tex]

[tex]\sf x = \dfrac{ 3\pm \sqrt{76}}{5}[/tex]

[tex]\sf x = \dfrac{ 3+ \sqrt{76}}{5} \quad or \quad \dfrac{ 3- \sqrt{76}}{5}[/tex]

In one decimal point:

[tex]\sf x = 1.5 \quad or \quad -0.3[/tex]

b) Here use "middle term split" method

⇒ x² + 3x = 40

relocate

⇒ x² + 3x - 40 = 0

The factors of 40 are 8 and 5

⇒ x² + 8x - 5x - 40 = 0

factor common terms

⇒ x(x + 8) - 5(x + 8) = 0

collect into groups

⇒ (x - 5)(x + 8) = 0

set to zero

⇒ x - 5 = 0 or x + 8 = 0

relocate

⇒ x = 5 or x = -8

Step-by-step explanation:

a) The quadratic formula can help find answers to a quadratic equation when it is equal to 0. The formula is [tex]x=\frac{-b\pm\sqrt{b^2-4ac}}{2a}[/tex] for a quadratic equation of the form [tex]ax^2+bx+c=0[/tex].

In this question, a is 5, b is -6, and c is -2. Let's put them in the equation and solve.

[tex]x=\frac{6\pm\sqrt{(-6)^2-4(5)(-2)}}{2(5)}\\x=\frac{6\pm\sqrt{36+40}}{10}\\x=\frac{6\pm\sqrt{76}}{10}\\x=\frac{6\pm2\sqrt{19}}{10}\\x=\frac{3\pm\sqrt{19}}{5}[/tex]

This means that the value of x is both [tex]\frac{3+\sqrt{19}}5[/tex] and [tex]\frac{3-\sqrt{19}}5[/tex], since both values make x equal to 0. Putting both into the calculator, we get that [tex]x=1.5[/tex] or [tex]x=-0.3[/tex].

b) We can easily solve this equation using factoring, which turns a quadratic into two factors, and finds the solutions by setting both to 0. This will only work if the quadratic is equal to 0.

[tex]x^2+3x-40=0[/tex]

Now, we have to find two numbers that add to 3 and multiply to -40. The numbers 8 and -5 work, as 8-5=3 and 8*-5 is -40.

we can now make our factors x+8 and x-5

[tex](x+8)(x-5)=0[/tex]

If two numbers, say A and B, are being multiplied and equal 0, then either A is 0, or b is 0, or both. Similarly, if x+8 and x-5 are being multiplied and equal 0, either x+8 = 0, or x-5=0.

[tex]x+8=0\\x=-8[/tex]    [tex]x-5=0\\x=5[/tex]

This makes our solutions x=-8 and x=5.

If you are not familiar with factoring or the process I have went through above, I highly recommend learning about it.

A number is chosen at random from the first 100 positive integers. find the probability that the number is divisible by 5. 1/10 1/5 1/4

Answers

The probability that the number chosen is divisible by 5 is; 1/5.

What is the probability that the number chosen is divisible by 5?

It follows from the task content that the number of possible outcomes in the probability event is; 100. Additionally, the number of required outcomes is 20 as only 20 numbers are divisible by 5.

Ultimately, the required probability is; 20/100 = 1/5.

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7. In a regular polygon, adjacent interior and exterior angles are congruent
What is the name of the polygon?
(1) triangle
(2) rectangle
(4) hexagon
lor
(3) square

Answers

Answer:

This would be true for a rectangle and a square.

Step-by-step explanation:

Rectangles and square have 90 angles.  The exterior angles would also equal 90 because 90 + 90 is 180.  An interior angle and the exterior angle are supplements (add together to 180).

Which set describes the domain of p(h)? {h| 0 ≤ h ≤ 40} {h| 0 ≤ h ≤ 60} {p(h)| 0 ≤ p(h) ≤ 1,400} {p(h)| 0 ≤ p(h) ≤ 1,800}

Answers

The set {h| 0 ≤ h ≤ 60} describe the domain of p(h).

According to the statement

We have given that the brenton gets paid $20 per hour for the first 40 hours he works in a week. For any hours above that, he is paid overtime at $30 per hour.

and we have to find that the those set which describes the domain of p(h).

So,for this purpose

In this case, the domain represents the set of hours he is permitted to work

From the question, we understand that he cannot work more than 60 hours

This means that, the least number of hours to work is 0, and the highest is 60

So, the domain is 0 to 60

When represented properly, the domain of P(h) is (b)  {h| 0 ≤ h ≤ 60}.

So, The set {h| 0 ≤ h ≤ 60} describe the domain of p(h).

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Disclaimer: This question was incomplete. Please find the full content below.

Question:

Brenton’s weekly pay, P(h) , in dollars, is a function of the number of hours he works, h. He gets paid $20 per hour for the first 40 hours he works in a week. For any hours above that, he is paid overtime at $30 per hour. He is not permitted to work more than 60 hours in a week. Which set describes the domain of P(h)? {h| 0 ≤ h ≤ 40} {h| 0 ≤ h ≤ 60} {P(h)| 0 ≤ P(h) ≤ 1,400} {P(h)| 0 ≤ P(h) ≤ 1,800

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Answer:

B.{h|0<h<60}

Step-by-step explanation:

N=
Help me please!!! Asap thanks so much :)

Answers

Answer:

n = 100

Step-by-step explanation:

the area (A) of the sector is calculated as

A = area of circle × fraction of circle

given A = 40π , then

πr² × [tex]\frac{n}{360}[/tex] = 40π

π × 12² × [tex]\frac{n}{360}[/tex] = 40π

144π × [tex]\frac{n}{360}[/tex] = 40π ( divide both sides by π )

144 × [tex]\frac{n}{360}[/tex] = 40 ( multiply both sides by 360 to clear the fraction )

144n = 14400 ( divide both sides by 144 )

n = 100

PLEASE HELP ASAP!!!!

Answers

The location of the points on Cartesian plane are listed below:

Figure 1: A(x, y) = (0, 4), B(x, y) = (5, 0)

Figure 2: A(x, y) = (8.5, 4), B(x, y) = (2.5, 1.5)

How to write coordinates in a rectangular system

A point on a Cartesian plane can be represented by rectangular system of coordinates with the form:

(x, y)

Where:

x - Distance along the x-axis respect to origin.y - Distance along the y-axis respect to origin.

Now we proceed to represent each point:

Figure 1: A(x, y) = (0, 4), B(x, y) = (5, 0)

Figure 2: A(x, y) = (8.5, 4), B(x, y) = (2.5, 1.5)

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The ratio of oil vinegar in a certain salad dressing is 8:5. How much oil must be blended with 7 liters of vinegar for that recipe?

Answers

the answer is 1:4 hope this helps
Answer is 11.2 liters of vinegar
Step by step
8:5 is 8 oil / 5 vinegar
So we know
8/5 = x/7
Cross multiply 5x = 56
Solve for x by dividing both sides by 5
X = 11.2 liters vinegar

A classroom contains an equal number of boys and girls. if 10 girls leave, twice as many boys as girls remain. what was the original number of students present?

Answers

the answer of this question is 38 and i hope it s  correct

Ali and Baba discovered an underground palace and set out to map all the treasure in it. After carefully mapping the interior, they found that the palace had a vault filled with treasure chests. In each chest, they found either 7 gold bars or 11 silver bars. There were 90 bars in total. How many of them were gold bars?

Answers

Answer:

396 gold bars

Step-by-step explanation:

first of all we will find numbers of gold bar 7*99

which is 693 and

we will find number of silver bars 11*99

which is 1089

then 1089-693=

396

On a coordinate plane, line k l goes through (negative 6, 8) and (6, 0). point m is at (negative 4, negative 2). which point could be on the line that is parallel to line kl and passes through point m?

Answers

The equation of the line parallel to the line KL passing through the points (-6, 8) and (6, 0), and going through the point M (-4, -2) is 2x + 3y = -6. The point satisfying this equation is (-6, 2). Thus, the 2nd option is the right choice.

Slope of the line KL = (8 - 0)/(-6 - 6) = 8/(-12) = -2/3.

Using the formula of the slope of the line passing through the points (x₂, y₂) and (x₁, y₁), as m = (y₂ - y₁)/(x₂ - x₁).

The slope of the line parallel to the line KL will be equal to the slope of KL.

Thus, the slope of the required line is m = -2/3.

The required line also passes through point M (-4, -2).

Thus, the equation of the required line will be,

y - (-2) = (-2/3)(x - (-4)) {Using the equation of the line passing through the point (x₁, y₁) and a slope m, as y - y₁ = m(x - x₁)},

or, y + 2 = (-2/3)(x + 4),

or, 3(y + 2) = -2x - 8,

or, 2x + 3y = -6.

From the given points, only the point (-6, 2) satisfies the equation.

Thus, the equation of the line parallel to the line KL passing through the points (-6, 8) and (6, 0), and going through the point M (-4, -2) is 2x + 3y = -6. The point satisfying this equation is (-6, 2). Thus, the 2nd option is the right choice.

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The provided question is incomplete. The complete question is:

"On a coordinate plane, line K L goes through (negative 6, 8) and (6, 0). Point M is at (negative 4, negative 2). Which point could be on the line that is parallel to line KL and passes through point M?

(–10, 0)

(–6, 2)

(0, –6)

(8, –10)"

[tex]\frac{2x}{x+1} +\frac{3(x-1)}{x} =5[/tex]

Answers

Answer:

[tex]x=-3[/tex]

Step-by-step explanation:

Given equation:

[tex]\dfrac{2x}{x+1}+\dfrac{3(x+1)}{x}=5[/tex]

Make the denominators the same:

[tex]\implies \dfrac{2x}{x+1} \cdot\dfrac{x}{x}+\dfrac{3(x+1)}{x} \cdot \dfrac{x+1}{x+1}=5[/tex]

[tex]\implies \dfrac{2x^2}{x(x+1)}+\dfrac{3(x+1)^2}{x(x+1)} =5[/tex]

Combine the fractions:

[tex]\implies \dfrac{2x^2+3(x+1)^2}{x(x+1)} =5[/tex]

Multiply both sides by x(x+1):

[tex]\implies 2x^2+3(x+1)^2 =5x(x+1)[/tex]

Expand the brackets:

[tex]\implies 2x^2+3(x^2+2x+1) =5x^2+5x[/tex]

[tex]\implies 2x^2+3x^2+6x+3 =5x^2+5x[/tex]

Combine like terms:

[tex]\implies 5x^2+6x+3=5x^2+5x[/tex]

Subtract 5x² from both sides:

[tex]\implies 6x+3=5x[/tex]

Subtract 5x from both sides:

[tex]\implies x+3=0[/tex]

Subtract 3 from both sides:

[tex]\implies x=-3[/tex]

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If there are 4 green apple and 3 red apples, what's the probability that a red apple is picked?

Answers

Answer: 3/7

Step-by-step explanation:

Quick algebra 1 question for 25 points!

Only answer if you know the answer, quick shout-out to Dinofish32, tysm for the help!

Answers

Yes

It's inverse variation

See

3 contractors took 8hours

4 contractors took 6hours

We observe

No of contracter increases hence time decreases

So it's inverse variation

Answer:

[tex]\fbox {Yes}[/tex]

Step-by-step explanation:

An inverse variation can be seen when two factors are compared, if one factor is seen to be increasing, then naturally the factor should be decreasing.

Here, as the number of contractors increase, the time taken to complete the work decreases.

∴ Hence, this represents an inverse variation.

Are the ratios 2:1 and 14:6 equivalent?
yes
no

Answers

Answer:

Step-by-step explanation:

To check this, we need to know whether

2

1

=

3

2

We have,  

2

1

=

2×3

1×3

=

6

3

and  

3

2

=

3×2

2×2

=

6

4

We find that

6

3

<

6

4

, which means that  

2

1

<

3

2

.

Therefore, The ratio 1:2 is not equivalent to the ratio 2:3

Answer:

No, they aren't equal.

Step-by-step explanation:

In a right triangle, one acute angle is 22 degrees less than 3 times the other acute angle. What is the measure of the larger acute angle

Answers

The measure of the acute angles are 62° and 28° .

What is the larger acute angle in a right triangle?The Triangle Angle Sum Theorem states that the sum of all interior angles in a triangle is . Additionally, the Right Triangle Acute Angle Theorem states that the two non-right angles in a right triangle are acute; that is to say, the right angle is always the largest angle in a right triangle.

Let x represent the measure of one of the acute angles of the right angle triangle.

Let y represent the measure of the other acute angle of the right angle triangle.

One of the acute angles in a right triangle measures 22 degrees less than 3 times the other acute angle. This means that

x = 3y - 22

The sum of two acute angles in a right triangle is 90 degrees.

We write as

x + y = 90 - - - - - - - (1)

Substituting x = 3y - 22 into equation 1, it becomes

3y - 22 + y = 90

4y = 90 + 22= 112

y = 112/4 = 28

x = 90 - y = 90 - 28

x = 62

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Quick algebra 1 question for 50 points!

Only answer if you know the answer, quick shout-out to Yeony2202, tysm for the help!

Answers

Answer:

Yes.

Step-by-step explanation:

Yes, the given line can be used to make reasonable predictions of the number of cheese pizzas that will be sold, since the scatter points clearly show a trend.

As time goes on, the number of pizzas sold is getting bigger, and the trend is what created the line.

The data was taken over 8 consecutive weeks, so we can assume that it can be used in our prediction.

Since the trend has been pretty consistent over periods of time, we can expect it to continue in the upcoming weeks.

You are _____ to commit a Type I error using the 0.05 level of significance than using the 0.01 level of significance. Group of answer choices more likely less likely equally likely twice as likely

Answers

More likely -You are more likely to commit a Type I error

According to statement

we have to find the type 1 error by using the significant levels.

we are commit a MORE LIKELY to find the error by rejecting a true null hypothesis using the 0.05 level of significance than using the 0.01 level of significance.

So, More likely -You are more likely to commit a Type I error

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The volume of a cone is 37x³ cubic units and its height is x units.
Which expression represents the radius of the cone's base, in units?
3x
6x
О Злх2
97X2

Answers

The radius of the cone's base in the unit is 9*7x².

Which expression represents the radius of the cone's base, in units?

Given:

The volume of a cone is 3*7x³ cubic units Its height is x units.

To find:

The expression represents the radius of the cone's base, in units.

Solution:

As we know, the volume of the cone formula is

V = πr²h/3

So, lets us compare the above formula with the given expression;

πr²h/3 = 3*7x³

Here, h is represented as x, we get;

πr²x/3 = 3*7x³

πr²/3 = 3*7x²

r²= 9*7x²

Hence, the radius of the cone's base, in units, is 9*7x².

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Refer to Table 9-8. Suppose that the data in the table above reflect the price levels in the economy. What is the inflation rate in between 2017 and 2018

Answers

The inflation rate between 2017 and 2018 is 2.86%.

What is the inflation rate?

Inflation rate is used to determine the rate at which the general price levels in an economy is increasing with the passage of time.

The inflation rate = (2018 CPI / 2017 CPI) - 1

(180 / 175) - 1 = 0.0286 = 2.86%

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Oops, looks like I’m stuck. Can someone please explain to me in detail why 1 plus 1 isn’t 3? (Giving brainliest to the lengthiest and best answer)

Answers

By assuming that 1 + 1 = 3, we will reach an absurd.

How to prove that 1 + 1 isn't 3?

To do this, we need to reach an absurd.

Let's assume that we are working with integer numbers, and let's assume that 1 + 1 is equal to 3.

Then we can write:

1 + 1 = 3

Now, if we subtract 1 in both sides, we get:

(1 + 1) - 1 = 3 - 1

1  = 2

Now we can subtract 1 again so we get:

1 - 1 = 2 - 1

0 = 1

This is an absurd, then the statement:

1 + 1 = 3

is false.

So we conclude that:

1 + 1 isn't 3.

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Drag the values to the correct locations to write this series using sigma notation and find the sum of the terms. Not all values will be used.

45 + [45 − 2.5] + ⋯ + [45 − 4(2.5)]

Answers

Answer:

[tex]\displaystyle \\\sum_{k=0}^4 45-2.5k=200[/tex]

Step-by-step explanation:

We start off with the term 45 and decrease by 2.5 each term, ending with four 2.5's subtracted from 45.

Therefore, our index starts at k=0 and ends at 4. The general term can be defined then as [tex]\displaystyle \\\sum_{k=0}^4 45-2.5k[/tex] and evaluating yields 200.

Line a is perpendicular to line b. if the slope of line a is 7 what is the slope of line b

Answers

Answer:

1/7

Step-by-step explanation:

When 2 lines are perpendicular the gradient of one is the reciprocal of the other :

If the gradient of A was 2 the gradient of B would be 1/2.

If the gradient of a is 7 the gradient of b would be 1/7 .

Hope this helped and have a good day

make m the subject!

Answers

how to:
a+b-mx=0
a+b=mx
(a+b)/x=m

solve for x

A)8
B)9
C)-9
D)-8

Answers

Answer:

C) -9

Step-by-step explanation:

x + 19 must be half x + 29 because triangles RBC and RST are similar by SAS and RB is half of RS and RC is half of RT.

2(x + 19) = x + 29

2x + 38 = x + 29

x + 38 = 29

x = -9

Please help. will give brainliest

Answers

Answer:

the 4th answer option. W = 153°, P = 71°

Step-by-step explanation:

PQRS ~ TUVW

that means both figures are similar.

and that means that the angles at the corresponding vertexes are the same, and all 4 corresponding sides (and any other pair of corresponding lines like diagonals) have the same scaling factor.

we see due to the proportions of the different parts of the shapes

U corresponds to Q.

T corresponds to P.

W corresponds to S.

V corresponds to R.

therefore, as the angle at S = 153°, so is W.

and as the angle at T = 71°, so is P.

Joe is thinking of an integer. The opposite of his number is greater than
the number itself. Which of the following must be true of Joe’s number?

Answers

Answer: Joe's number is a negative number.

Since the number's opposite is greater in value, the number's value is in the negatives.

Find the mode of the following data: 18, 17, 12, 14, 8, 21, 10, 11, 19, 20, 10, 5, 17, 12, 10, 20  A. 16  B. 14  C. 13  D. 10

Answers

Answer:

D.10

Step-by-step explanation:

Mode is the number that is repeated the most as we can see the number 10 is there 3 times in the data. 13 isn't there, 14 is only there once and 16 is also not there

The mode would be answer D, 10

Which equation has an a-value of 1 a b-value of -3 and a c-value of -5

Answers

The equation which has the values as given in the task content is; y= x² -3x -5.

What is the quadratic equation with the given values?

By convention, the general form representation of a quadratic equations is;

y = ax² + bx +c.

Hence, it follows that when the equation has an a-value of 1 a b-value of -3 and a c-value of -5, the equation is; y= x² -3x -5.

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can someone pls help me on this

Answers

Answer:

The answer is X=3/4 or -1/2

Help please!!!!
Will give brainliest

Answers

The amplitude, Period, Horizontal Shift and Vertical Shift of both graphs are as detailed below.

How to interpret features of trigonometric Graphs?

3)a. Amplitude is the distance between the center line and the positive or negative peak of the graph. Thus, the amplitude is 0.5.

b. The period is the time it takes for the graph to repeat or complete one cycle and in this graph, it is 3.

c. Looking at the graph, ideally the coordinate (3, -1.5) should have been on the y-axis which is at (0, -1.5). This means it was shifted by 3 units to the right side.

d. The positive peak should be equal to the negative peak but in this case, it is not so and as such the center should be on the x-axis which means that the graph was shifted down vertically by 2 units.

4) a. Amplitude is the distance between the center line and the positive or negative peak of the graph. Thus, the amplitude is 3 - 1 = 2

b. The period is the time it takes for the graph to repeat or complete one cycle and in this graph, it is 6.

c. Looking at the graph, ideally the coordinate (4, -1) should have been on the y-axis which is at (0, -1). This means it was shifted by 4 units to the right side.

d. The positive peak should be equal to the negative peak but in this case, it is not so and as such the center should be on the x-axis which means that the graph was shifted up vertically by 1 unit.

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(b) x2 x2 + x + 20 Incorrect: Your answer is incorrect. 16The sum of two numbers is 1130. Their difference is 470. Write a system of equations thatcould be used to find the value of the two numbers then find the value of the smallest number(1 Point)30033018050017 if the force acting on a body of mass 4kg accelerates it at a constant rate of 4m/s. what would be the acceleration of the mass is doubled? 1) Write the symbol and charge for each individual ion2) Balance the charge so that they equal to zero3)Write the formula based on how many of each ion you used in step 211) Beryllium and Phosphorus12) cesium and Sulfur13) Lithium and phosphorus14) fluorine and rubidium15) Francium and oxygen The African Diaspora can best be defined as A. the blended European and African culture as a result of the slave trade. B. the smaller numbers of people in West Africa because of the slave trade. C. the spread of African people to parts of the Americas and the Caribbean because of the slave trade. D. the sea route taken by African slaves to the Americas during the trans-Atlantic slave trade. Given the sequence of DNA nucleotide bases TTAGCCTTG, give the complementary strand of RNA. What is a simple diffusion? A computer laboratory manager was in charge of purchasing new battery packs for her lab of laptop computers. She narrowed her choices to two models that were available for her machines. Since the models cost about the same, she was interested in determining whether there was a difference in the average time the battery packs would function before needing to be recharged. She took two independent samples and computed the following summary information: Battery Pack Model 1 Battery Pack Model 2Sample Size 9 9Sample Mean 5 hours 5.5 hoursStandard Deviation 1.5 hours 1.3 hoursUsing the null and alternate hypothesis:H0:mu1-mu2=0 vs. Ha: mu1-mu2 not equal 0Calculate the test statistic for this test. 47. Health care costs per capita Rising health care costsare a growing concern for everyone in the UnitedStates. Using U.S. Centers for Medicare andMedicaid Services data from 2006 and projected to2021, U.S. per capita health care costs can be modeledbyy = 20.61x? - 116.4x + 7406where x is the number of years past 2000. Use thisequation to find, to the nearest dollar, the average rateof change of U.S. per capita health care costs from 2010to 2015 and from 2015 to 2020. The Scenario: Your cousin Caleb has a dog-walking business, and you'd like to start one in your own neighborhood. Caleb has had his business for more than a year and has experimented with different prices for his services. He is willing to share what he has learned with you as you begin to plan your business. The Project: Use the information provided in the Performance Task to learn more about your competition and the costs of your business. See what you can discover by looking at Caleb's sales records to help you decide how to set up and price your own dog-walking services. Use the questions below to help you gather information and get your new business off to a profitable start. Understanding the Competition 1. Explore the three competitors in your area to learn more about the services they offer and how they reach their customers. Fill in the table below to help you compare their businesses. (12 points: 1 point for each table cell) Outward HoundA1-Pet Services Debbie's Daily Dog Walks What services does the business offer? What do you know about the type of business and its staff? Who are the target customers? How much does the business charge?2. Now that you know a bit about the competition, it's time to get more specific about your business offering. (6 points: 3 points for describing services, 1 point for each of the other questions) List three services you would like to offer. Do any of these services require you to buy special items? If so, what would you need to buy? Describe the type of customer you believe your business will appeal to and explain why. If you had to guess now, how much do you think you should charge for a 30-minute dog walk? Calculating Your Business Costs 3. Use the table below to summarize your monthly business costs. Record each option you choose in the "Options selected" column. (9 points: 1 point for each completed table cell) Cost type Total cost per month Options selected Advertising Goods Transportation Licensing TOTAL 4. Explain the choices you made that determined your business costs in each cost category. (4 points: 1 point for each explanation) In your explanation, be sure to describe: Your advertising choices The goods you will purchase Your transportation needs Whether you chose bonding The reasons for your choices Advertising: Goods: Transportation: Bonding:loading...With every price decrease of $1, Caleb (gained/lost) ___________ customers. 6. Write a profit equation for Caleb's business. Profit = Price Number of customers Cost To write the profit equation, use the following assumptions: Express price and number of customers in terms of the same variable, x. Let x = the change in price from the price that gave Caleb the greatest revenue. Use the information in the table to answer these questions. (9 points: 1 point per blank) a. At what price did Caleb make the most revenue per month? How many customers did he serve at that price? Price: _________ Number of customers: _________ b. Write an expression for price. Use the price identified in part a. Let x represent the change in Caleb's price from this price. Price = __________ + ____________ c. Write an expression for the number of customers. Use the number of customers identified in part a, and the decrease in number of customers when Caleb increases his price by $1 (from question 5). Number of customers = _________ __________x d. Write Caleb's profit equation. Use the expressions you identified in parts b and c. Assume Caleb's costs amounted to $200 each month. Profit = Price Number of customers Cost Profit = ___________ ____________ _________Maximizing Your Profits You've done a lot of research. Now it's time to try to maximize the profit of your new business. 7. Write and simplify your personalized profit equation. Complete the profit equation, using the price and customer expressions from question 6 and your total cost from question 3. (6 points: 1 point for each element: price, number of customers, and cost; 3 points for writing and simplifying the profit equation) 8. Now find the maximum point on the graph of your profit equation (the vertex). (5 points: 1 point for each box in part a; 2 points for part b) a. b. Substitute x into the profit function to find the maximum profit. Maximum profit: . According to your model, what price should you charge to maximize profit? Explain how you know this is the best price. (Hint: Remember that x represents change in price from $22, not price.) (3 points: 1 point for price and 2 points for explanation) 10. What are the break-even points of the profit function (the values of x where profit equals 0)? Use the quadratic formula. (4 points: 2 points for each x-value) 11. According to your model, between what two prices should you price your service? Why would you want to keep your price between those limits? (4 points: 2 points for the break-even values, and 2.+1 Can new knowledge change established values or beliefs? Simplify the expression. 4(5x + 2) + 7x + 6 =12x + 827x + 1427x + 827 + 14x Ali Clara and Shane raise money for new books for the school library all Ellie rays 20% more than Clara and $58 more than Shan Claries 1/4 times Does anyone have some questions about art