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rjkz [21]
3 years ago
10

Michelle is attending a university where tuition for one year costs $17,300. She has a scholarship worth $5,000 per year. She ea

rns $2,700 per year at her part-time job. She plans to take out a loan to cover the remaining tuition costs. Tuition will increase by $500 each year. If she completes college in 4 years, how much money will Michelle need to borrow
Business
1 answer:
Dmitry_Shevchenko [17]3 years ago
6 0

Answer:

$41,400

Explanation:

Tuition will increase by $500 each year

Year 1 tuition = $17,300

Year 2 tuition = $17,800

Year 3 tuition = $18,300

Year 4 tuition = $18,800

Total = $72,200

Scholarship per year = $5000

Total scholarship for 4 years = 4 * $5000

= $20,000

Earnings per year = $2,700

Total earnings for four years = 4 * $2,700

= $10,800

She plans to take out a loan to cover the remaining tuition costs

Loan = Total tuition - (Total scholarship for 4 years + Total earnings for four years)

= $72,200 - ( $20,000 + $10,800)

= 72,200 - (30,800)

= 72,200 - 30,800

= 41,400

Loan = $41,400

Michelle need to borrow $41,400

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<u>Full question:</u>

The symbol in flowcharting that is used to mark the point in the process where the analysis skips to another common point of the process is called:

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The symbol in flow-charting that is used to mark the point in the process where the analysis skips to another common point of the process is called connector icon

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Amber's employer, Lavender, Inc., has a § 401(k) plan that permits salary deferral elections by its employees. Amber's salary is
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in this case, Amber earns much more than $19,000, so the lesser amount would be $19,000.

If Amber contributes more than $19,000 to her 401k account, then she would have to pay taxes for the extra amount contributed.

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Label demand as elastic, unit elastic, or inelastic for each scenario. Use the midpoint method when applicable to calculate the
oksian1 [2.3K]

Answer:

  1. Contain Yourself!, a plastic container company, raises the price of its signature Lunchbox container from $3.00 to $4.00 . As a result, the quantity sold drops from 20,000 to 15,000 = unit elastic
  2. Economists working for the United States have determined that the elasticity of demand for gasoline is 0.5 = inelastic
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Demand is the number of consumers willing and able to purchase a product at various prices over a period of time. Demand for goods refers to consumers' desire to purchase goods and their willingness and ability to pay for them.

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