17. (10 points) Bob loans $10,000 to Jim at a nominal annual rate of 8%, convertible...

 

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17. (10 points) Bob loans $10,000 to Jim at a nominal annual rate of 8%, convertible monthly. You are given the following information: 1. Jim makes payments at the beginning of each month, starting one month after the loan is made. 2. Jim's first payment is $7. Each subsequent payment is $7 more than the previous one. This pattern continues through the first 59 payments. 3. Jim's 60th payment pays off the remaining outstanding balance and any interest accrued during the 60th period. 4. Bob reinvests each payment in a bank account paying 6% nominal annual interest, convertible monthly. How much money does Bob have in the bank account immediately after depositing Jim's final payment? A. $14,100 B. $14,500 C. $14,600 D. $11,700 E. $14,800 The total cost of producing x units of a commodity per week is C(x) = 200 + 4x+0,1x² (a) Find the marginal cost when the production level is 100 units. (b) Use the marginal cost to approximate the cost of producing the 101 st unit. (c) Find the exact cost of producing the 101 st unit. (d) Assuming that the commodity is sold for R10 per unit, find the marginal revenue and the marginal profit function. Question 5 A firm determines that x units of its product can be sold daily at p rands per unit, where The cost of producing x units per day is (a) Find the revenue function R(x) (b) Find the profit function P(x) x=1000-p. C(x) = 3000+x. (c) Assuming that the production capacity is at most 500 units per day, determine how many units the company must produce and sell each day to maximise the profit. (d) Find the maximum profit. (e) What price per unit must be charged to obtain the maximum profit? 17. (10 points) Bob loans $10,000 to Jim at a nominal annual rate of 8%, convertible monthly. You are given the following information: 1. Jim makes payments at the beginning of each month, starting one month after the loan is made. 2. Jim's first payment is $7. Each subsequent payment is $7 more than the previous one. This pattern continues through the first 59 payments. 3. Jim's 60th payment pays off the remaining outstanding balance and any interest accrued during the 60th period. 4. Bob reinvests each payment in a bank account paying 6% nominal annual interest, convertible monthly. How much money does Bob have in the bank account immediately after depositing Jim's final payment? A. $14,100 B. $14,500 C. $14,600 D. $11,700 E. $14,800 The total cost of producing x units of a commodity per week is C(x) = 200 + 4x+0,1x² (a) Find the marginal cost when the production level is 100 units. (b) Use the marginal cost to approximate the cost of producing the 101 st unit. (c) Find the exact cost of producing the 101 st unit. (d) Assuming that the commodity is sold for R10 per unit, find the marginal revenue and the marginal profit function. Question 5 A firm determines that x units of its product can be sold daily at p rands per unit, where The cost of producing x units per day is (a) Find the revenue function R(x) (b) Find the profit function P(x) x=1000-p. C(x) = 3000+x. (c) Assuming that the production capacity is at most 500 units per day, determine how many units the company must produce and sell each day to maximise the profit. (d) Find the maximum profit. (e) What price per unit must be charged to obtain the maximum profit?

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To answer these questions lets go through them one by one 17 Bob loans 10000 to Jim at a nominal ann... View the full answer