Can you help me set this up?
Suppose you are trying to decide whether to buy ski equipment. Typically it costs $60 day to rent skis and buy a lift ticket. You can buy ski equipment for about $400. A lift ticket alone costs $35 for one day. Find the break-even point.
Thanks.
break-even is where
60x = 400+35x
where x is the number of days skiing
Thank you!!!
The answer to part "b" of that question is no. It would take 25 years to break even. Therefore it is not worth it. Thumbs for asian persuasion.
The answer to part "b" of that question is no. It would take 25 years to break even. Therefore it is not worth it. Thumbs up for asian persuasion.
It is 16
Sure! To find the break-even point, we need to determine the number of days you would need to use the ski equipment and lift ticket in order for buying to be more cost-effective than renting.
Let's start by calculating the cost of renting skis and purchasing lift tickets for a specific number of days. If we assume you will rent skis and buy lift tickets for 'n' days, the cost would be:
Cost of renting skis and lift tickets = $60 * n
Next, let's calculate the cost of buying ski equipment and purchasing lift tickets separately. The cost of buying ski equipment is given as $400, and the cost of purchasing lift tickets would be $35 per day:
Cost of buying ski equipment = $400
Cost of purchasing lift tickets = $35 * n
To find the break-even point, we need to determine the number of days when the cost of buying ski equipment and lift tickets is equal to the cost of renting. In equation form, this can be represented as:
$60 * n = $400 + $35 * n
Now, let's solve for 'n':
$60n = $400 + $35n
$60n - $35n = $400
$25n = $400
n = 400 / 25
n = 16
So, the break-even point would be after 16 days. If you plan to use the ski equipment and lift tickets for more than 16 days, buying would be more cost-effective than renting.