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Nesterboy [21]
3 years ago
13

You are exploring a career in nursing in the state of MA. The average hourly wage for a RN is $33.37. You are planning to work 4

0 regular hours plus 8 hours overtime at time and a half every week. What will your weekly earnings be?
Business
1 answer:
yawa3891 [41]3 years ago
6 0

Answer:$1,735.24

half is 1.5

40 regular hours * $33.37 = $1334.8

8 overtime hours * (1.5 * $33.37) = $400.44

$1334.8 + $400.44 = $1735.24

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Troy will receive $7,500 at the end of Year 2. At the end of the following two years, he will receive $9,000 and $12,500, respec
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$33,445.44

Explanation:

The future value of an investment is its worth at a future date if the investment is done at a specific interest rate compounded yearly for certain number of years

It is computed as follows:

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FV = Future Value, PV = present value, r- interest rate, n- number of years

<em>Future value of $7500 after 3 years:</em>

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<em>Future Value of $9000 after 2 years:</em>

FV = 9000 × (1.08^2) = $10,497.6

<em>Future value of $12,500 after 1 year:</em>

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The future value of these cashflows at the end of year 5

= 9,447.8 + 10,497.6 + 13,500

= $33,445.44

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