Step-by-step explanation:
(i) 12 months × fixed salary
= 12 × 3140
= 37680 $
(ii) commission = total × 2%
= 720000 × 0.02
= 14400 $
(iii) fixed salary + commission
= 37680 + 14400 = 52080 $
Answer:
56
Step-by-step explanation:
The median is the middle number of a sorted set from least to greatest. After sorting the set 61, 48, 52, 65, 56, 77, 54 the set is 48, 52, 54, 56, 61, 65, 77.
The middle number in this set is 56 so the median is 56
Answer:
9%
Step-by-step explanation:
Given that
The invested amount is $1,000
The future value is $2,400
The time period is 12 years
We need to find out the annual rate that compounded continously
So,
As we know that
Amount = Present value × e^(rate × time)
$2,500 = $1,000 × e^(rate × 12)
2.5 = e^(rate × 12)
ln 2.5 = 10r
ln 2.5 ÷ 10 = r
r = 9%
