Jolene entered an 18-month investment contract that guarantees to pay 2 percent interest at the end of 6 months, another 3 percent interest at the end of 12 months, and 4 percent interest at the end of the 18 month contract. if each interest payment is reinvested in the contract, and jolene invested $10,000 initially, what will be the total amount of interest paid during the 18-month contract?
a. $506.00
b. $726.24
c. $900.00
d. $920.24
e. $926.24

E. $926.24

Step-by-step explanation:

The total amount of interest paid is shown below:

1. For 6 months, the interest would be

= Invested amount × interest rate

= $10,000 × 2%

= $200

2. For 12 months, the interest would be

= (Invested amount + interest paid for 6 months)  × interest rate

= ($10,000 + $200) × 3%

= $10,200 × 3%

= $306

3. For 18 months, the interest would be

= (Invested amount + interest paid for 6 months + interest paid for 12 months )  × interest rate

=  ($10,000 + $200 + $306) × 4%

= $420

Now the total interest would be

= $200 + $306 + $420.24

= $926.24

answer: 204

step-by-step explanation:

we are told that the revenue is

x⋅(4080−10x)=−10x^2+4080x

this is a quadratic function, so to maximize it we should find the x-value of its vertex. recall that the x-value of the vertex of the parabola ax^2+bx+c is given by the formula −b/2a.

so in this case, we have a=−10 and b=4080, so the x-value of the vertex is

−b/2a= −(4080)/2(−10)=204