(2 points) Oil is pumped continuously from a well at a rate proportional to the amount of oil lef...
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(2 points) An oil company discovered an oil reserve of 130 million barrels. For time t > 0, in years, the company's extraction plan is a linear declining function of time as follows: where q(t) is the rate of extraction of oil in millions of barrels per year at time t and b 0.05 and a -14. (a) How long does it take to exhaust the entire reserve? time years (b) The oil price is a constant 30...
Consider the extraction of oil from a well. Let x(t) be the rate of extraction in barrels per day and p(t) the price in dollars per barrel at time t. Then R(t) = pt)x(t) is the revenue in dollars per day. Find an expression for Rt), and give it an economic interpretation in the case when p() and x(1) are both increasing. (Hint: R(t) increases for two reasons...)
4. Exendine Oil, an exploration and development company located in Okesa, Oklahoma plans to bid for a one-year option to horizontally drill and fracture the old Drummond oil field. The option gives Exendine the right to drill the well anytime during the next year. The option expires at the end of one year if the firm fails to begin drilling. The total costs of drilling and fracturing the well would be $3.10 million. The well is certain to produce 20,000...
Sam inherited $2 million at age 20 and put this amount in an investment account earning an rate of return of 5.5%, compounded monthly. Today, Sam turns to age 50 and deposits the accumulated amount from the inheritance in a 25-year annuity due plan at an interest rate of 5.5% that he can withdraw a set amount of monthly income immediately to pay for mortgage payments, property tax and living expenses on the first day upon his retirement.Sam loves nature...
[2 points] Suppose that 15 years ago you bought a home for $500,000, paying 20% as a down payment, and financing the rest at 5% interest for 30 years. How much money did you pay as your down payment? [2 points] How much money was your existing mortgage (loan) for? [2 points] What is your current monthly payment on your existing mortgage? Note: Carry at least 4 decimal places during calculations, but round your final answer to the nearest cent....
Case 5-1 Accounting for BP P:C's Deep water Horizon Oil Spill Case 5-1 Accounting for BP PLC’s Deepwater Horizon Oil Spill On April 20, 2010, an explosion at BP PLC’s Macondo well in the Gulf of Mexico caused the largest oil spill and one of the worst environmental disasters in U.S. history. Because the incident occurred at the Deepwater Horizon drilling rig, this incident is often referred to as the Deepwater Horizon spill. Approximately 4.9 million barrels of oil were...
Case 27 To Use or Not to Use?
Beaufort Sea Production Company (BSPC) operates a medium-sized oil
field on Alaska’s north coast. The field is still producing at its
maximum rate, 325,000 barrels of oil per day (BOPD). However, to
sustain this rate the company started a waterflood of the reservoir
two years ago. Now a capacity bottleneck in the water disposal
process is threatening to curtail production. In waterflooding,
salt water from the Beaufort Sea is treated to remove...
Apple Inc.: Capital Budgeting Analysis Apple Inc. (ticker: AAPL) is considering installing a new and highly sophisticated computer system in one of its manufacturing facilities, which would cost $71.0 million. Delivery and installation would add another $1.2 million to the initial cost. The new computer system has a 5-year class life under MACRS. Because of the half-year convention, it will take six years for Apple to fully depreciate the cost of the system (MACRS percentages: 20, 32, 19, 12, 11...
Exercises 1. Verify equation (3) 2. Use the techniques of Section 13.7 and the fact that P(0) = 10 to solve equation (5). 3. The carrying capacity of Atlantic harp seals has been estimated to be C = 10 million seals. Let 1 = 0 correspond to the year 1980 when this seal population was estimated to be about 2 mil- lion. (Data from: Fisheries and Oceans Canada.) (a) Use a logistic growth model = kP(C - P) with k...
1-Summarize the article briefly in your own words. 2-Explain the main theme of this case and its implications for the future of forensic science. 3-Several genealogy sites (including ancestry.com, 23andme.com, familytreedna.com, findmypast.com) were used in this case -- do you believe that law enforcement should have access to these databases as a standard practice? Why or why n Article How a Jane Doe child case uncovered a serial killer, identified victims and changed the use of DNA forensics Investigators and...