After an aggressive marketing campaign in the local community, Poe’s TV & Repair Co. discovered that their cost can now be modeled by the equation: C(n) = 25n 2 + 150n + 21500, where n represents the number of TV remote controls sold in a particular month.
How many TV remote controls must be sold in a month in order to minimize the company’s average cost? Show all steps and justify your answer.
What is that minimum average cost?
Assignment 3: Compounded Interest
a) How long does it take for money to double in value if it is invested in an account at 5% interest compounded annually? Show all work.
b) How long does it take for money to double in value if it is invested in an account at 5% interest compounded continuously? Show all work.
c) Finally, explain/discuss the differences in the methods used to solve these two problems.
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