Jaime needs to buy a new refrigerator for his apartment. He found what he needed for $1,300 at a well-known appliance store. The store is offering two options for Jaime to finance the appliance: Option I:

A store credit card with a $1,500 limit:

1) The credit card charges 16.5% annual interest rate.

2) The minimum monthly payment is $100 plus the monthly finance charge.

3) No down payment required

4) The loan is expected to be paid off in 12 months to avoid additional penalties.

Option II: The appliance store offers an installment loan for his purchase: 1) Loan charges a simple interest rate of 12.5%.

2) Loan must be paid off in 12 equal payments to avoid penalties. 3) A $300 down payment is required.

A. Which Option should Jaime choose if he wants the interest he pays to be as small as possible?

B. How much interest paid will he save by choosing this option?

What is the inverse of the function f(x)=4x+8

Twelve less than a number is at most 20

Acaterer knows he will need 60, 50, 80, 40 and 50 dinner napkins on five successive evenings. he can purchase new napkins initially at 25 cents each, after which he can have dirty napkins laundered by a fast one-day laundry service (i.e., dirty napkins given at the end of the day will be ready for use the following day) at 15 cents each, or by a slow two-day service at 8 cents each or both. the caterer wants to know how many napkins he should purchase initially and how many dirty napkins should be laundered by fast and slow service on each of the days in order to minimize his total costs. formulate the caterer’s problem as a linear program as follows (you must state any assumptions you make): a. define all variables clearly. how many are there? b. write out the constraints that must be satisfied, briefly explaining each. (do not simplify.) write out the objective function to be minimized. (do not simplify.)