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Daniel N.
MBA from Duke University, M.S. from MS&T
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Linear Programming
TutorMe
Question:

The area of a parking lot is 600 square meters. A car requires 6 square meters. A bus requires 30 square meters. The attendant can handle only 60 vehicles. If a car is charged $2.50 and a bus $7.50, how many of each should be accepted to maximize income?

Daniel N.
Answer:

Answer: 50 cars, 10 buses

Personal Finance
TutorMe
Question:

What has been considered a "safe withdrawal" rate rule of thumb for a balanced retirement portfolio?

Daniel N.
Answer:

4% has been a standard recommendation for a retirement portfolio withdrawal rate. This suggests that a $1 million dollar portfolio provides $40,000 of income per year. I would caution against blindly following this rule.

Finance
TutorMe
Question:

What is the future value of an initial $1000 investment in 5 years, compounded annually at a rate of 10%?

Daniel N.
Answer:

The future value of your investment is $1,610.51.

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