algebra word problem-commercial banks?

Question

from 1987 to 1997 the #'s of banks could be found by this equation, N(t) = -458t + 923,769. where "t" is the year. approx. what is the # of banks in 1987 and 1997?

do i need to find the "t" first? but how do i find that if it only gives me 1987 and 1997? do i need to subtract the years to find "t"?

thanks for the help.

Answer 1

I just saw an answer that said we had more than 900,000 banks in 1987 and 1997. I know it seems there's a bank on every street corner, but 900,000? I don't know about that. With 300 million people in this country, that's one bank for every 330 people, children included. I don't think I buy that.

I'm going to rewrite your formula as N(t) = 923,769 - 458t.

For 1987, the formula is

N(1987) = 923,769 - 458*1987 = 13,723

For 1997:

N(1997) = 923,769 - 458*1997 = 9,143

This says that the number of banks in this country declined by 4,580, or 33%, in the ten-year period between 1987 and 1997.

That doesn't surprise me. There has been a lot of bank consolidation. Big banks gobble up small ones. Big banks can afford to automate; small banks can't compete.

Anyway, your problem is worked out above, both for 1987 and 1997.

Answer 2

Simple. Look that it is saying what is the number of banks in 1987 and 1997, not between 1987 to 1997. So no you don't subtract. You must do this:

Equation is given from 1987 to 1997 over or below this range the equation is useless. Anyways, at year one, so 1987, t=1 since that is the time it has passed since the equation was found to be so. Sub 1 to t and get the answer.

Then, at year 1997 10 years have passed so you want to know the number of banks after 10 years. Sub 10 for t and find the answer. Then you have the # of banks at year one and year 10. So at 1987 and 1997. Your final answer can be given either as a sum of two or just by stating that at 1987 we had 923311 banks and at 1997 we had 919189 banks.

Answer 3

Isn't the question, how many banks existed in each year, 1987 and 1997?

I think it a simple calculation:
-458 * 1987 + 923,769 = # of banks in 1987
-458 * 1997 + 923,769 = # of banks in 1997 (4580 banks less than 1987)

If I read this correctly, the formula would be roughly accurate for any date between 1987 and 1997, but the specific question asked for the end year values.

Answer 4

For 1987:

N(1987) = -458*1987 + 923, 769

For 1997:

N(1997) = -458*1997 + 923,769

t is the year.

Answer 5

If you subtract 1987 from 1997 you will get the number of years (and you said t is supposed to be the year)...so I don't think that's what you're supposed to do. You need to find the sum of all t = -485t + 923769, where t ranges from 1987 to 1997. Have you done the summation method yet? You'll need it to do this.

Answer 6

for questions like those all you ought to do is examine the sentence and make a formula. i be responsive to that for novices it ought to not be as person-friendly because it sounds yet i will tutor you step by making use of step: The Randolphs used 12 greater gal of gasoline oil in October than in September: From this you be responsive to that they used greater gas in october than september suitable? and that they used 12 gal greater in october. so: if i permit septembers gas be x gal consequently: octobers gas would be 12 gal greater = (x + 12)gal if youre questioning how the hell i knew to call september x gal and not october, to be honest it doesnt count. permit's see what happens if its any incorrect way around. if october is = x gal then: september would be 12 gal lesser than october = (x - 12)gal so which you notice? it particularly doesnt count. as long as you needless to say state what's your x and artwork from there and not stray, you may not pass incorrect. and the clarification i chosen to make september x is becasue i want working with (x + 12) then (x - 12). : ) shifting on... so youve settled october: (x +12) gal september: (x) gal now for the seond area of the sentence: and two times as lots oil in November as in September. that's comparatively basic now which you already be responsive to that september is x gal. seeing that november is two times as greater as september: november's gas = 2x gal so now you be responsive to: september: x gal october: x + 12 gal november: 2x gal the subsequent sentence is: in the event that they used 132 gal for the three months, how lots substitute into used throughout each and each month? now that's basic. seeing that they used 132 gal for 3 months, it tells you that the completed intake for the three months could be equivalent to 132 gal. subsequently, x + (x + 12) + 2x = 132 bringing the 12 over: x + x + 2x = 132 - 12 4x = a hundred and twenty x = 30 Now that youve have been given x and you be responsive to the quantity of gas utilized in each and each month in terms of x, all you ought to do is replace x = 30 into them and you have have been given your solutions! i'm hoping this made you realize algebra somewhat greater. in simple terms make particular to examine and understand what's happening interior the question. call your unkown and stick to it! Write down your mandatory equations in terms of your unknown and you ought to have not any subject! have relaxing with math.