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Math Help - Minimum Price?

  1. #1
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    Minimum Price?

    The price P of a certain computer system decreases immediately after its introduction and then increases. If the price P is estimated by the formula  P = 160t^2 - 1700t + 6700, where t is the time in months from its introduction, find the time until the minimum price is reached.

    First derivative of P = 320t - 1700 = 0.
    320t = 1700.
    t = 5.3125.

    160(5.3125)^2 - 1700(5.3125) + 6700 = 2184.375

    I've made it this far, but how do I solve for the minimum price?
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  2. #2
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    Quote Originally Posted by akuczma86 View Post
    The price P of a certain computer system decreases immediately after its introduction and then increases. If the price P is estimated by the formula  P = 160t^2 - 1700t + 6700, where t is the time in months from its introduction, find the time until the minimum price is reached.

    First derivative of P = 320t - 1700 = 0.
    320t = 1700.
    t = 5.3125.

    160(5.3125)^2 - 1700(5.3125) + 6700 = 2184.375

    I've made it this far, but how do I solve for the minimum price?
    Didn't you just do that?
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  3. #3
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    You've solved it already!
    Time untill until minimum price is 5.3125
    Minimum price is 2184.375
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  4. #4
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    lol This is why I come here to check. Thanks!
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