What is Amy and Penny’s opportunity cost of producing one meal (in terms of baskets given up)?

PART 1. Gains from trade [36 points] Suppose Amy and Penny are housemates and there are two chores that need to be completed: cooking meals and laundry. Assume the hours needed to cook a meal or finish a basket of laundry are different for Amy and Penny and are described in the table below. 1 […]

What is the exact instantaneous rate of change of the value of the account at exactly 8 years?

When an initial amount of money, A,A, in dollars, is invested into an account that earns interest continuously, the Future Value of the account after tt years is given by the formula: F(t)=Aert,F(t)=Aert, where rr is the annual interest rate earned by the account. Let A=$15,000A=$15,000 and r=7%r=7%. A) What is the value of the […]