1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dalvyx [7]
3 years ago
6

Mitch completes the course and his boss promotes him. Mitch receives a 25% increase on his previous pay of $40 000 per year afte

r tax.
However, Mitch took out a Study Assist loan from the government to pay his course fee. This means that 4% of his new after-tax salary goes towards repaying the loan.

How much extra pay does Mitch actually end up with for the year?
Mathematics
1 answer:
kolezko [41]3 years ago
4 0

Before her promotion, Mitch was receiving $40,000 per year after tax. Since the loan payment is 4%, therefore the money that goes to the loan is:

Loan payment = $40,000 * 0.04

Loan payment = $1,600

 

After her promotion, Mitch is now receiving:

 New salary = $40,000 * 1.25

New salary = $50,000

Therefore the new loan payment becomes:

New loan payment = $50,000 * 0.04

New loan payment = $2,000

 

Therefore Mitch is paying an extra payment of:

$2,000 - $1,600 = $400

 

Answer: $400

You might be interested in
two angles are supplementary. The measure of one is five times the measure of the other angle.Find each angle
Svetllana [295]
Let's say each side is 5 and 5 so all you have to do is times 5 bye 5 and divide the two numbers by 20 and when you get that then you add the numbers by 180 then your answer is 239cm
3 0
3 years ago
What is one thing that you found interesting about future value and present value for compound interest? 100 words ^
brilliants [131]

Answer:

Compound interest is that which, once generated, is added to the capital, in order to expand the calculation base on which, in turn, new interests will be generated. Thus, in short, if the interest is, for example, 5 percent, said interest will be added to the initial capital, with which that 5% generated will be increasing, since it will be calculated on an increasingly large basis.

Compound interest is very important for financial investments, as it maximizes the results of said investments, even more so when compared to simple interest, in which the interest generated is not added to the initial capital.

6 0
3 years ago
How do you solve 5y+34=-2 (1-7y)
sergiy2304 [10]
You just kind of do it
6 0
3 years ago
Read 2 more answers
Does two eighths equal one fourths ?
Aliun [14]
It does. 1/4 equals 2/8 2 times.
8 0
4 years ago
Read 2 more answers
The diameter of an insect cell is 1.7 × 10–11 meter. Ariel wants to find the length of the radius of the cell. If she performs t
Juli2301 [7.4K]

Answer:

8.5E-12

Step-by-step explanation:

According to the Question,

Given That, The diameter of an insect cell is 1.7 × 10^-11 meters.

Ariel wants to find the length of the radius of the cell. Radius Is Half of the Diameter.

  • Thus, R = D/2   ⇒  (1.7*10^-11)/2 = 0.85× 10^-11
  • If she performs the calculations on her calculator is 8.5E-12.
6 0
3 years ago
Other questions:
  • Stephon is buying some snacks for his siblings at a convenience store. He wants to buy at least 6 items, but he has only $12 in
    5·1 answer
  • A parallelogram is transformed according to the rule (x, y) → (x, y). Which is another way to state the transformation?
    9·1 answer
  • The area of the trapezoid is 40 square units.<br><br> What is the height of the trapezoid? __ Units
    13·2 answers
  • A rectangular prism is 6 inches long, 3 inches wide, and 2 inches high. What is its surface area?
    9·1 answer
  • You are shipping a box that weighs 5 pounds. Shipping charges are listed by ounces at the local mail center. The first ounce cos
    6·2 answers
  • Use FOIL to multiply the two binomials. (b + 3)(b – 9)
    6·2 answers
  • Question 3
    15·1 answer
  • Brian is a salesman for a wholesale computer parts company. He earns commission at the rate of 4%. Last month his total sales $8
    5·2 answers
  • (2)Please help with both questions
    7·1 answer
  • Each of ten tickets is marked with a different number from 1 to 10 and put in a box. If you draw a ticket from the box, what is
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!