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Damm [24]
1 year ago
13

Bob Neff, owner of an automotive dealership, pays one of his salesmen, Mike, a $1,300 draw per week plus 6% on all commission sa

les. Mike sold seven cars over the four-week period, totaling $186,900 for the month. Mike's commission after the draw is:
Business
1 answer:
Dmitriy789 [7]1 year ago
5 0
The correct answer is 11 1/3. Hope this helps.<span>
The mixed number would be 11 1/3. This is because 3 goes into 34 11 times. 3 multiplied by 11 would equal 33. You have 1/3 left over after , so you get 1/3.</span>
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A University is offering a charitable gift program. A former student who is now 50 years old is consider the following offer: Th
xenn [34]

Answer:

The value of this deferred annuity today on his 50th birthday is <u>$2,621.27</u>.

Explanation:

Since the student's desired return of 6% will also start to be paid starting on his 65th birthday, the value of this deferred annuity today on his 50th birthday can be calculated by first calculating the value of the investment on the 65th birthday.

We therefore proceed with the following two steps:

Step 1: Calculation of the value of the investment on the 65th birthday

The value of the investment on the 65th birthday can be calculated using the formula for calculating the present value of an ordinary annuity as follows:

PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)

Where;

PV at 65 = Present value of the annuity at 65th birthday =?

P = Annuity payment = Invested amount * Student's desired return = $8,900 * 6% = $534

r = Student's desired return rate = 6%, or 0.06

n = number of more years anticipate to live after 65th birthday = 21

Substitute the values into equation (1) to have:

PV at 65 = $534 * ((1 - (1 / (1 + 0.06))^21) / 0.06)

PV at 65 = $534 * 11.764076621288

PV at 65 = $6,282.02

Therefore, the value of the investment on the 65th birthday is $6,282.02.

Step 2: Calculation of the value of this deferred annuity today on his 50th birthday

The value of this deferred annuity today on his 50th birthday can therefore be calculated using the simple present value for as follows:

PV at 50 = PV at 65 / (1 + r)^N …………………………….. (2)

Where;

PV at 50 = the value of this deferred annuity today on his 50th birthday = ?

PV at 65 = Present value of the annuity at 65th birthday = $6,282.02

r = Student's desired return rate = 6%, or 0.06

N = number of years from 50th birthday to 65th birthday = 65 - 50 = 15

Substitute the values into equation (2) to have:

PV at 50 = $6,282.02 / (1 + 0.06)^15

PV at 50 = $6,282.02 / 2.39655819309969

PV at 50 = $2,621.27

Therefore, the value of this deferred annuity today on his 50th birthday is <u>$2,621.27</u>.

5 0
1 year ago
Mojo Mining has a bond outstanding that sells for $2,201 and matures in 21 years. The bond pays semiannual coupons and has a cou
Ann [662]

Answer:

the after tax cost of debt is 3.90 %.

Explanation:

The Cost of debt is the rate required on the bond and this is calculated as follows :

PV = - $2,201

n = 21 × 2 = 42

PMT =  ($2,000 × 7.38 %) ÷ 2 = $73.80

P/YR = 2

FV = $2,000

r = ?

Using a Financial Calculator, the Pre-tax Cost of debt, r is 6.4963% or 6.50 % (2 decimal places)

After tax cost of debt = Interest rate × (1 - tax rate)

                                   = 6.50 % × (1 - 0.40)

                                   = 3.90 %

5 0
1 year ago
Toni makes apple pies for the local bakery. When Toni works with an assistant, she produces 60% more apple pies and works 20% fe
lions [1.4K]

Answer:

200 % is the answer.

Explanation:

Toni makes x be apple pies .

and Jane works for y hours.

therefore, he makes x apple pies in y hours

which implies he makes \frac{x}{y} apple pies per hour  

Now with help of an assistant:  

Toni  makes 60% more  apple pies  i.e. x + 0.6x = 1.6x  apple pies

works 20% less i.e. y - 0.2y = 0.8y hours

therefore, now together they make 1.6x/0.8y apple pies per hour \frac{\frac{1.6x}{0.8y} }{\frac{x}{y} } X 100

simplifying we get

200

Hence % increase in output PER HOUR is 200.

6 0
2 years ago
Read 2 more answers
Work specialization contributes to higher employee productivity, but at the price of __________. Select one: a. Reduced economie
Yakvenalex [24]

Answer:

The correct answer is letter "D": Reduced job satisfaction.

Explanation:

Work specialization refers to limiting the number of activities to employees so they can focus on determining duties only. This is implemented in an attempt of mastering workers in performing the work they are assigned to do. However, work specialization brings automation which does not allow employees to develop their skills at work and, consequently, leads to reduced job satisfaction.

6 0
1 year ago
Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May
JulijaS [17]

Answer

(a) cost per equivalent unit

Item                                Material         Labour      Overheads

Cost per EU($)           84.15         34.25      172.25

b) Total cost per equivalent = $290.65

Explanation:

<em>The weighted average method of valuation of work in progress does not separate opening work-in progress from the newly introduced. </em>

<em>The cost per equivalent units using  this method is computed by dividing the total equivalent units by the cost element. This repeated for each of cost element categories.</em>

Item                                Material         Labour      Overheads

Opening WIP                  36,900          61,650           299,715

Cost added                    <u>223,965</u>          <u>41,100</u>          1<u>99,810</u>

Total cost($)     a             260,865   102,750     499,525

Equivalent unit  b             3,100             3,000            2,900

Cost per EU($) (a/b)         84.15         34.25      172.25

Total cost per equivalent unit =   84.15 + 34.25 + 172.25

Total cost per equivalent=  $290.65

<u />

8 0
1 year ago
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