Which of the following is not an example of a primary fieldwork position?
2 answers:
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Answer: $40
Explanation:
Selling price can be calculated through the contribution margin equation;
Contribution margin = (Selling Price - Variable cost) / Selling Price
Contribution margin = Fixed costs/break-even point
= 660,000/1,100,000
= 60%
60% = (Selling Price - 16) / Selling Price
Selling price * 60% = Selling price - 16
16 = Selling price - (0.6 * selling price)
16 = Selling price * 40%
16/40% = Selling price
Selling price = $40
Answer:
The lump sum amount to be deposited should be $27,020.67
Explanation:
Data provided in the question:
Future value = $60,000
Time, t = 10 years
Interest rate, r = 8% = 0.08
Compounded monthly i.e number of periods n = 12
Now,
Future value = Amount deposited ×
Therefore,
on substituting the respective values, we get
$60,000 = Amount deposited ×
or
$60,000 = Amount deposited × ( 1.00667 )¹²⁰
or
$60,000 = Amount deposited × 2.220522
or
Amount deposited = $60,000 ÷ 2.220522
or
Amount deposited = $27,020.67
Hence,
The lump sum amount to be deposited should be $27,020.67