1. Calculate the rent of a decreasing annuity at 8% interest compounded quarterly with payments made every quarter-year for 12 years and present value $200,000. (Show work)
2. An airline company wants to fly 1400 members of a ski club to Colorado. The airline owns two types of planes. Type A can carry 50 passengers, requires 3 flight attendants, and costs $14,000 for the trip. Type B can carry 300 passengers, requires 4 flight attendants, and costs $90,000 for the trip. If the airline must use at least as many tpe A planes as type B and has available only 42 flight attendants, how many of each type should be used to minimize the cost for the trip?
