Jamie need to earn more than $4,000 to pa his monthly bills. he earns a monthly salary of $2,500 plus an extra $75 for every ele
1 answer:
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Answer:
- <u>The rate of return is 8.15%</u>
- <u>This is a good investment</u>
<u></u>
Explanation:
For the first question, you need to find the rate that makes the present value of a stream of ten constant annual payments of $15,000 equal to the $100,000 investment.
The formula that returns the present value of a constant payment is called the annuity formula and is:
In your problem you know:
- Present value: $100,000
- payment: $15,000
- r: ?
- t: 10
You cannot solve for r directly. You must guess a value and calculate the right side of the equation until to you find the rate that makes it equal to 100,000.
Try 5%:
Then, the rate of return is greater than 5%. After several trials you will find that the rate of return is 8.15%.
Since this rate is higher than 8%, which is what the company requires, this is a good investment.
Answer:
4.74 hours
Step-by-step explanation:
Given that both person have to place same number of rivets that is
11209
first person take 9 hours to complete the work
hence 1 hour work of 1st person is of total work
second person takes 10 hours to complete the same work
hence 1 hour work of 2nd person is
Now if both work together then
1 hour work of both person = =
thus working together they need hours = 4.74 hours to complete the whole work which is placing 11209 rivets
