Write the Word or Phrase That Best Completes Each Statement $\mathrm { T }$

question 328

Short Answer

Write the word or phrase that best completes each statement or answers the question.
-The average daily temperature $\mathrm { T }$ of a city in the United States is approximated by
$$\mathrm { T } = 55 - 23 \cos \frac { 2 \pi } { 365 } ( \mathrm { t } - 30 )$$
where $t$ is in days, $1 \leq t \leq 365$ , and $t = 1$ corresponds to January 1 . For what range of values of $t$ is the average dail temperature above $70 ^ { \circ } \mathrm { F }$ ? Use a calculator and round answers to the nearest whole number.

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Definitions:

Present Value

A payment’s economically equivalent amount at a prior date, allowing for the time value of money.

Compounded Annually

Describes the process of calculating interest on both the initial principal and the accumulated interest from previous periods once a year.

Present Value

The present value of a future amount of money or series of cash flows using a predetermined rate of return.

Perpetuity

A financial term for a stream of cash payments that continue indefinitely.