Marissa has just won a contest. She must decide between two…
Marissa has just won a contest. She must decide between two prize options: collect a lum-sum payment of $40 000 or receive $800 at the end of every quarter for 10 years from an investment. The investment earns 8%/a compounded quarterly. Which is the best option and by how much?
Read DetailsIt costs a bus company $225 to run a minibus on a ski trip,…
It costs a bus company $225 to run a minibus on a ski trip, plus $30 per passenger. The bus has seating for 22 passengers, and the company charges $60 per fare if the bus is full. For each empty seat the company has to increase the ticket price by $5. How many empty seats should the bus run with to maximize the profit for this trip?
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