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finlep [7]
2 years ago
8

A hardware store makes a profit of $30,000 during its first year. The store owner sets a goal of increasing profits by $4000 eac

h year for 6 years. Assuming that this goal is met, find the total profit during the first 7 years of business.
Business
1 answer:
MrMuchimi2 years ago
4 0

Answer:

$294,000

Explanation:

Data provided in the question:

Profit during the first year = $30,000

Increase in profit each year = $4,000

Now,

Profit for the current year = Profit for the previous year + $4,000

Therefore,

Year                 Current year profit

1                           $30,000

2                           $34,000                   [$30,000 + $4.000]

3                           $38,000                   [$34,000 + $4.000]

4                           $42,000                   [$38,000 + $4.000]

5                           $46,000                   [$42,000 + $4.000]

6                           $50,000                   [$46,000 + $4.000]

7                           $54,000                   [$50,000 + $4.000]

Hence,

The total profit during the first 7 years of business = ∑ (Current year profit)

= $30,000 + $34,000 + $38,000 + $42,000 + $46,000 + $50,000 + $54,000

= $294,000

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The newspaper reported last week that Bennington Enterprises earned $34.07 million this year. The report also stated that the fi
Arada [10]

Answer:

Earning growth rate will be 12 %

Explanation:

We have given that Bennington Enterprises earned $34.07 million this year.

Return equity = 16 % = 0.16

Retained earning = 75 % = 0.75

We have to find the firm's growth rate

We know that growth rate is given by

Growth rate = Return on equity × retained earning

So firm's growth rate will be equal to = 0.16×0.75 = 0.12

Therefore the earning growth rate will be 12 %

6 0
3 years ago
​"what has worked for you before?" identify the stage from the five-stage counseling model where an interviewer would most likel
taurus [48]

The Restory stage.

The 5 stages of the well-formed counseling session are:

1. Empathic relationship

2. Story and strengths

3. Goals

4. Restore - This question would fall under this stage because it's a recap of what worked well and what didn't work to figure out what are the next steps to take.

5. Action

3 0
3 years ago
Which of the following is NOT a proactive hiring procedure? a. ​conducting background investigations on prospective employees b.
velikii [3]

Answer:

The correct answer is letter "D": ​instilling in employees a desire to develop ethical awareness and courage to do the right thing.

Explanation:

Proactive hiring procedures are practices performed by the <em>Human Resources (HR) Department</em> of a company by which prospective employees are contacted not necessarily when there is an opening in the company but to establish a relationship with those individuals.  

Thus, <em>​instilling in employees a desire to develop ethical awareness and courage to do the right thing is an activity developed when people are already hired in a firm</em>. Then, it is not part of proactive hiring.

6 0
2 years ago
The manager of a publishing company plans to give a $23,000 bonus to the top 12 percent, $10,000 to the next 25 percent, and $6,
I am Lyosha [343]

Answer:

total expected bonus = $1262800

Explanation:

given data

bonus = $23,000

Probability = 12 percent

bonus =  $10,000

Probability = 25 percent

bonus =  $6,000

Probability = 8 percent

total sales = 220

solution

first we get probability for bonus amount = $0

probability = 1 - ( 12% + 25% + 8 % )

probability =  0.55

so here Expected bonus per employee company will pay is

Expected bonus = $23000 × (0.12) + $10000 × (0.25) + $6000 × (0.08) + $0 (0.55)

Expected bonus = $5740

so total expected bonus is

total expected bonus = $5740  ×  220

total expected bonus = $1262800

8 0
2 years ago
Andrew carnegie was a native of what country? ireland scotland switzerland united states 2. carnegie made his fortune primarily
slavikrds [6]
He was born in the city of Dunfermline which is in the country Scotland. 
7 0
3 years ago
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