Answer:
$871068.25
Step-by-step explanation:
Given the base of starting the business is $54300 and the total sale after the business is $950000.
Therefore, the profit of the business is $(950000-54300) = $895700.
Now, the commission has to be deducted from the profit at the rate of 2.75% of the profit.
Hence, total profit of the business is given by
895700 [1 - ] = $871068.25 (Answer)
Answer:
The interest is
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above
<em>Find the interest</em>
substitute