I = PRT....seeking T...rearrange......I / PR = T
I / PR = T
I = 720
P = 1000
R = 9% = 0.09
substituting values
720 / (1000)(0.09) = T
720 / 90 = T
8 = T <===
Assuming a maximum rental duration of 8 days, if we apply this to the equation, Happy Harry's Rentals costs $500, while Smilin' Sam's charges $600. Therefore, for the 7th and 8th days, Happy Harry's Rentals is a better option, while Smilin' Sam's is preferable for the first six days.
No. Allocate 2/3 of the space to Grano and 1/3 to Wheatie. This results in approximately 57% for Wheatie and 43% for Grano—meaning 60(.57)=34.2 ft² for Wheatie and 60(.43)=25.8 ft² for Grano. Therefore, there would be about 85.5 boxes of Wheatie and 129 boxes of Grano, leading to a total profit of 129(1)+85(1.35)=$243.75. The best choice would be to place 200 boxes of Grano and 50 boxes of Wheaties on the shelf. Allocating 40 ft² to Granos (200(.2)) and 20 ft² to Wheaties (50(.4)) means that 40/60=2/3=66.6% of the space would be for Granos, and 20/60=1/3=33.3% would be for Wheaties. The total profit would be 200(1)+50(1.35)=$267.5.