A Methods and Measurements Analyst needs to develop a time standard for a certain task. The task involves use of a ruler, square
, and portable electric saw to mark and cut the "notch" in a rafter (a standard carpentry task of home construction). In a preliminary study, he observed one of his workers performing this task five times. The observations were made in an airconditioned, well-lit training facility, at ground level, with all tools and equipment clean and readily available. Observation: 1 2 3 4 5 Task time (seconds): 82 74 80 83 76 a. What is the actual average time for this task? b. What is the normal time for this task if the employee worked at a 20% faster pace than is typical for adequately trained workers? c. What is standard time for this task if allowances sum to 14%? d. If the analyst then thought more carefully about his experiment and decided that the allowances needed to be increased to match the real (outside, not air-conditioned) work environment, and that the proper allowance was not 14% but 20%, what is the revised standard time?
1 answer:
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Answer:
Ans. a) $769.27 is the amount of money that you can withdraw every month for 120 months at a rate of 3.2% compounded monthly if you deposit $235.15 every month, for 20 years.
Explanation:
Hi, first we have to turn this compounded rate into an effective rate, in this case, effective monthly, that is by doing the following.
that is 0.267% effective monthly.
Now, we need to take all this annuities to 20 years in the future, which is going to be the present value to use in order to find the amount of moneuy that you can withdraw every month, for 120 months (10 years).
For A = 235.15; r =0,00267; n=240
Now, in order to find the amount of money to withdraw for 10 years, every month, we have to use the following equation.
Since the future value 20 years from now is the present value of the annuity we are looking for, all should look like this.
So the answer is a) $769.27
Best of luck.