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forsale [732]
3 years ago
5

Marcus, a high school student, works at a lumberyard making $10.50 an hour. with his academic and sports schedule, he is able to

work 25 hours a week. he can pick up extra hours, but not consistently. marcus lives at home, so he has very few bills. he is responsible for his cell phone bill, which is $65 a month. he pays for his auto insurance, which is $1,200 a year, and he pays for gas, maintenance and repairs on his car. lastly, marcus is responsible for his spending money. he has a fully funded emergency fund of $500 but has a goal of saving additional money for new tires. (as a high school student, assume that groceries, health insurance, and utilities are expenses covered by his parents.) *remember to compute net pay by taking 20% out for taxes.
Business
1 answer:
max2010maxim [7]3 years ago
3 0
Given:
salary: <span>$10.50 an hour
25 hours a week

expenses:
Cellphone bill: $65/month
car insurance: $1,200/yr
*20% taxes.

There is no specific question but I will solve for Marcus net earnings for the year.

25 hours/week * 52 weeks/yr = 1,300 hours/year

Wages: 10.50 per hour * 1,300 hours/year = $13,650 Gross salary per year
Taxes: 13,650 * 20% = 2,730 

13,650 - 2,730 = 10,920 net salary for the year

Cell phone bill: 65 per month * 12 months = 780

Net salary:         10,920
Cell phone bill       (780)
Car insurance: <u>    (1,200)</u>
Net Income:       8,940 per annum.




</span>
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Credit card A offers an introductory APR of 3.4% for the first 3 months and a standard apr of 15.7% thereafter, while credit car
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Incomplete question. However, I answered based on the information.

Explanation:

We can determine which Credit card is best in terms of its interest rate by comparing both rates monthly:

Credit card A

<u>APR for the First 3 months:</u>

4.1% / 360 days = 0.009% x 30 = <u>0.27% </u>per month for the first 3 months.

<u>APR for Next 9 months:</u>

15.7% / 360 days = 0.04361% x 30 = <u>1.308% </u>per month for the next 9 months.

Credit card B:

<u>APR the First 3 months</u>

4.2% / 360 days = 0.011% x 30 = 0.33% per month for the first 3 months

<u>Next 9 months:</u>

15.5% / 360 = 0.04305% x 30 = <u>1.291%</u> per month for the next 9 months

Hence, we can conclude,

  • For the first 3 months, Credit Card A is best because it offers lower interest charges.
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7 0
2 years ago
Read 2 more answers
What is a turnkey operation? Group of answer choices A) the buying of another company B) a contract for a large construction pro
Artyom0805 [142]

Answer: Option B

                                                                         

Explanation: In simple words, turnkey operations refers to those projects which are related to the production of any good or service . These projects are intended to be sold or leased out once they are complete.

Thus, such kind of projects are usually made for the Govt. and after a long duration of completion the producer sells it to the govt.

Thus, the correct option is B

4 0
3 years ago
At December 31, 2017, Sager Co. had 1,200,000 shares of common stock outstanding. In addition, Sager had 450,000 shares of prefe
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Answer: $3.49

Explanation:

Diluted earnings per share = \frac{Net Income}{Outstanding Common Stock + Convertible shares}

Diluted Earnings per share = \frac{6,800,000}{1,200,000 + 750,000}

Diluted Earnings per share = 3.4871

Diluted Earnings per share = $3.49

8 0
3 years ago
Which of the following is one of the steps of the ethnographic research
jek_recluse [69]

Answer: participant observation, interviews and surveys. All of these ethnographic methods can be very valuable in gaining a deeper understanding of a design problem.

Explanation:

6 0
3 years ago
A stock has annual returns of 5 percent, 21 percent, -12 percent, 7 percent, and -6 percent for the past five years. The arithme
sergij07 [2.7K]

Answer:

Arithmetic = 3%

Geometric = 2.37%

Explanation:

The arithmetic average of 'n' returns is given by:

A = \frac{\sum r_i}{n}

For five returns of 5% ,21%, -12%, 7%, and -6%:

A=\frac{0.05+0.21-0.12+0.07-0.06}{5}\\ A=0.03=3\%

The geometric average of 'n' returns is given by:

G=\sqrt[n]{(1+r_1)*(1+r_2)*...*(1+r_n)}-1

For five returns of 5% ,21%, -12%, 7%, and -6%:

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8 0
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