MTH302 Assignment 1 Solution 2021

MTH302 Assignment 1 Solution Spring 2021

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MTH302 ASSIGNMENT 1 SOLUTION SPRING 2021

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Question 1:

If a person provide payments of Rs.15000 at the end of each 3rd month for 7 years and interest is 13.5% compounded quarterly, then calculate how much money is deposited.

Solution:

First, convert R as a percent to r as a decimal
r = R/100
r = 13.5/100
r = 0.135 rate per year, Quarterly = 0.135/4 = 0.03375

Then solve the equation for A
A = P(1 + r)nt
A = 15,000(1 + 0.03375)(28)
A = Rs. 37,994.95

Summary:
The total amount accrued, principal plus interest, with compound interest on a principal of Rs. 15,000.00 at a rate of 13.5% per year compounded 4 times per year over 7 years is Rs.37,994.95.

Question 2:

Suppose two mobile phone companies sell their internet packages as 256KB connection for Rs.1500 per month, 512KB connection for Rs. 1900 per month, 1MB connection for Rs. 2800 per month, and 4MB connection for Rs. 3800 per month.

The table below summarizes the number of connections both companies have sold per month:

	256 KB	512KB	1MB	4MB
Company A	175	60	22	8
Company B	250	180	65	23

What is total annual revenue of Company A?

What is total quarterly revenue of Company B?

(Use Matrices to illustrate the above information)

Solution:

Speed	Prices	Company A Sold	Total Revenue of A Annual (Price * Sold * 12)	Company B Sold	Total Revenue of B per Quarterly (Price * Sold * 3)
256KB	1500	175	3150000	250	1125000
512KB	1900	60	1368000	180	1026000
1MB	2800	22	739200	65	546000
4MB	3800	8	364800	23	262200