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kodGreya [7K]
3 years ago
7

A lease calls for a minimum rent of $2800 per month plus 4% of annual gross sales in excess of $500,000. What is the annual rent

if the annual gross sales were $725,500?
Business
1 answer:
bonufazy [111]3 years ago
8 0

Answer:

The annual rent is $42,620

Explanation:

The computation of annual rent is shown below:

= Annual rent + (rate × gross sales)

where,

The annual rent is

= Monthly rent × total number of months in a year

= $2,800 × 12

= $33,600

The rate is 4%

The excess gross sales is computed by

= Annual gross sales - gross sales

= $725,500 - $500,000

= $225,500

Now put these values to the above formula

So, the answer would be equal to

= $33,600 + (4% × $225,500)

= $33,600 + $9,020

= $42,620

Hence, the annual rent is $42,620

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Why are the real income levels of Americans affected by rising prices?
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1 year ago
The desired reserve ratio is 10 percent of deposits, and the currency drain ratio is 1 percent of deposits.
Flauer [41]

Answer:

Quantity of money changes by $50,000,000

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Currency drain ratio = 1% = 0.01

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It gives proper credit to the author, it helps you avoid plagiarism, and it helps to create more ideas in your mind.

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