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Anarel [89]
4 years ago
15

Rennie Norquist is a recent law school graduate. She is employed at Dillard Dobbs Dooley & Duncan, LLP, a 200 lawyer firm. R

ennie is well paid at $98,000 per year. However, she thinks she should be paid overtime for all the hours she works because she spends over 70 hours a week researching the law and writing legal memoranda. Which of the following is a correct statement?
a. Rennie is eligible for overtime under the new FLSA regulations because she makes less than $100,000 per year.
b. Rennie is not eligible for overtime under the new FLSA regulations because, as a professional worker, she is exempt from overtime regulations.
c. Rennie is entitled to overtime because, as a recent graduate, she is in training.
d. None of the above choices is correct.
Business
1 answer:
Sindrei [870]4 years ago
3 0

Answer:

b. Rennie is not eligible for overtime under the new FLSA regulations because, as a professional worker, she is exempt from overtime regulations.

Explanation:

According to the Fair Labor Standards Act (FLSA) certain employees are exempt from overtime regulations:

  1. executives (top management and board of directors)
  2. professionals: Rennie falls under this category because she already graduated from law school.
  3. administrative
  4. computer
  5. external sales

Anyone that falls under any of these categories, is exempt from overtime pay and other FLSA regulations.

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Lou Agent with Top Notch Realty had listed a 100 unit apartment complex for sale. Sam Agent also with Top Notch Realty had a buy
dybincka [34]

Answer:

2. Have both the buyer and seller sign required disclosures describing the designated sales agency relationship and stating that each the buyer and seller have assets of $1 million or more.

3 0
3 years ago
Which of the following is a period during which aggregate output, as measured by real GDP, declines
Klio2033 [76]

Answer:

D. Recession

Explanation:

Aggregate output in an economy declines during a recession. This is because economic activities are declining. When such occurs GDP declines. This is different from stagflation in the sense that during a recession, only real GDP declines. However, in a stagflation, the fall in GDP also results to the increase in inflation. During recessions, economic activities are low so is price level.

4 0
2 years ago
Once stimuli are in the brain, they are processed by what?
Anastasy [175]
Processed by the cerebral cortex only
5 0
4 years ago
1. Suppose that 10 years ago you bought a home for $150,000, paying 10% as a down payment, and financing the rest at 8% interest
Ierofanga [76]

Answer:

1. Down payment = $15,000

2. The existing mortgage (loan) was for $135,000

3. The current monthly payment on the existing mortgage is $990.58

4. The total interest over the life of the existing loan = $221,609.58

6. The amount of the original loan paid off is $22,319.

7. Total amount paid to the loan company over the last 10 years is $258,928.58 ($243,928.58 + $15,000)

8. Total interest paid over the last 10 years is $221,609.58

9. The equity in the home is $67,319 ($180,000 - $112,681)

10. The new monthly payments will be $675.58

11. Saving each month because of the lower monthly payment is $315 ($990.58 - $675.58)

12. Total Interest = $352,137.21 ($221,609.58 + $130,527.63)

13. It does not make sense to refinance because what is saved per month cannot compare with the additional interest expense to be incurred for prolonging the payments.

Explanation:

a) Data and Calculations:

1. Cost of a home = $150,000

10% down payment = $15,000

Existing Mortgage = $135,000 ($150,000 - $15,000)

Home Price  150000

 Down Payment  10 %

Loan Term  30  years

Interest Rate  8%

House Price $150,000.00

Loan Amount $135,000.00

Down Payment $15,000.00

Total of 360 (30 years * 12)

Mortgage Payments $356,609.58

Total Interest $221,609.58

Ten years after, the loan balance has been reduced by $22,319 ($135,000 - $112,682)

Refinancing calculations:

Home Price  112681

 Down Payment  0 %

Loan Term  30  years

Interest Rate  6

   

Monthly Pay:   $675.58 Monthly

Total Mortgage Payment $243,208.63

Total Out-of-Pocket $243,208.63

Total of 360 Mortgage Payments $243,208.63

Total Interest $130,527.63

 

4 0
3 years ago
What is the term for how much the insurance company will pay?
Annette [7]
C coverage because it’s money to pay for the accident etc.
4 0
3 years ago
Read 2 more answers
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