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ss7ja [257]
3 years ago
9

Brad Edwards is earning $74,000 a year in a city located in the Midwest. He is interviewing for a position in a city with a cost

of living 10 percent higher than where he currently lives. What is the minimum salary Brad would need at his new job to maintain the same standard of living?
Business
1 answer:
arsen [322]3 years ago
8 0

Answer:

The correct answer is $81,400.

Explanation:

According to the scenario, the given data are as follows:

Current earning = $74,000

As Brad is searching for a city which is 10% higher than current city then to maintain same living he has to earn 10% more than he earns.

So, total earning needed = $74,000 + 10% of $74,000

  =  $74,000 + $7,400

  = $81400

Hence, the total earning brad needed is $81,400.

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Yield to maturity is 6.6%

Explanation:

Yield to maturity is the annual rate of return that an investor receives if a bond bond is held until the maturity.

Face value = F = $1,000

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Coupon payment = $1,000 x 8% = $80

Selling price = P = $1,100

Number of payment = n = 13 years

Yield to maturity = [ C + ( F - P ) / n ] / [ (F + P ) / 2 ]

Yield to maturity = [ $80 + ( 1000 - 1100 ) / 13 ] / [ (1,000 + 1100 ) / 2 ]

Yield to maturity = [ $80 - 7.7 ] / 1100 = $72.3 /1100 = 0.066 = 6.6%

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A company has the following liabilities at year end: Mortgage note payable; $16,000 due within 12 months $355,000 Short-term deb
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In markets where customers are sensitive to price and where internal efficiencies lead to cost advantages allowing for acceptabl
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