Math

In order to cover upfront expenses, Pinecrest Enterprises must be able to come up with $50 million of its own capital reserves. Presently, Pinecrest has $37 million in capital reserves available, and can add $1.5 million per month .

After how many months will Pinecrest Enterprises meet the reserve requirement? Round up to the next month.





OOPS
8
HINT
Find the formula for the amount the company has after n months. Hint: this can be expressed using an arithmetic sequence. Then, solve the appropriate equation when using this formula. Note that since the payments are made monthly, your answer must be an integer value.

  1. πŸ‘ 0
  2. πŸ‘Ž 0
  3. πŸ‘ 90
asked by Angela
  1. people here check your ansers they dont give them to you

    1. πŸ‘ 0
    2. πŸ‘Ž 0
    posted by Jojo
  2. I don’t know how to set this problem up.

    1. πŸ‘ 0
    2. πŸ‘Ž 0
    posted by Kim

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math

    In order to cover upfront expenses, Pinecrest Enterprises must be able to come up with $50 million of its own capital reserves. Presently, Pinecrest has $37 million in capital reserves available, and can add $1.5 million per month

    asked by Anonymous on November 5, 2017
  2. Math

    In order to cover upfront expenses, Pinecrest Enterprises must be able to come up with $50 million of its own capital reserves. Presently, Pinecrest has $37 million in capital reserves available, and can add $1.5 million per month

    asked by Sharnii on November 6, 2017
  3. Math

    In addition to using its own capital reserves for the development, Pinecrest Enterprises must have access to a line of credit. Robert, the manager of the local bank, is concerned about Pinecrest’s existing debt. The total debt

    asked by Stacy on November 6, 2017
  4. Adding and subtracting positive and negative numb

    Betty is in the process of opening her own business – a coffee shop in downtown Fargo, North Dakota. With the Grand Opening a month away, she runs the numbers involved in her upfront expenses: $5,400 for local advertising,

    asked by Kim on November 8, 2017
  5. Math

    A 3500-seat theater sells tickets for $75 and $110. Each night the theater's expenses total $245,000. When all 3500 seats sell, the owners want ticket revenues to cover expenses plus earn a profit of 25% of expenses. How many

    asked by Anonymous on April 8, 2014
  6. Math

    Marianna's cell phone company charged her an upfront fee and a monthly fee. After three months of service, she had paid a total of $154.95. After a year of service, she had paid a total of $559.95. Her monthly fee was $______. The

    asked by John Doswell on March 23, 2016
  7. math

    Marianna's cell phone company charged her an upfront fee and a monthly fee. After three months of service, she had paid a total of $154.95. After a year of service, she had paid a total of $559.95. Her monthly fee was $______. The

    asked by John Doswell on March 23, 2016
  8. Math

    To obtain a rough estimate of the development cost, Abigail, the accountant working for Pinecrest Enterprises, assumes that the total cost C (in millions of dollars) is given by the formula C= 20y + 15, where y is the cost per

    asked by Angela on November 6, 2017
  9. math

    please check my answers below and correct me if i am wrong please 1. At Lexi Corp., sales revenue is $20 million, the cost of goods sold is $14 million, operating expenses are $3 million, and income taxes are $1 million. What is

    asked by polly on November 26, 2016
  10. Math

    Joe is the owner and CEO of Pinecrest Enterprises, a real estate development company in Boise, Idaho. The company has taken on a new development project outside of town, and Joe wants to drive out to survey the proposed

    asked by Kim on November 6, 2017

More Similar Questions