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Elanso [62]
3 years ago
7

Jed goes to the deli to purchase turkey that costs $6.71 per pound. State regulations indicate that the scale used in the deli m

ust be accurate to within 1 20 pound. According to the scale, Jed's purchase weighs one-fourth pound and costs $1.68. How much might he have been undercharged or overcharged due to a scale error
Business
1 answer:
Neporo4naja [7]3 years ago
5 0

Answer:

$0.333

Explanation:

Given :

Price per pound = $6.71

Accuracy should be within 1/20 pound

Weight of Purchase = 1/4 pound

Cost of purchase = $1.68

Since accuracy is within 1/20 pound ;

The weight of purchase will be within :

(1/4 - 1/20 ; 1/4 + 1/20)

(0.2 ; 0.3)

The weight of purchase would be within (0.2 ; 0.3) including factoring in the accuracy level.

Price per pound = $6.71

If weight is 0.2 pounds ; ($6.71 * 0.2) = 1.342

If weight is 0.3 pounds ; ($6.71 * 0.3) = 2.013

Difference :

$(2.013 - 1.68) = $0.333

Owing to scale error, Jed might have been under charged or overcharged an amount of $0.333

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3 years ago
A storeowner orders 25 calculators that cost ​$4747 each. The storeowner can sell each calculator for ​$5656. The storeowner sol
leva [86]

Answer:

$5,592

Explanation:

Given:

Number of calculators ordered = 25

Cost of each calculator = $4747

thus,

Total cost of the calculators ordered = 25 × $4747 = $118,675

Selling cost of each calculator = $5656

Number of calculators sold = 22

Total revenue = 22 ×$5656 = $124432

Number of calculators returned = 3

Charges for returning the calculator = $55

Total charges for returning the calculators = 3 × $55 = $165

Now,

The total profit

= Total revenue - Total cost of the calculators - Total charges for returning

= $124432 - $118,675 - $165

= $5,592

6 0
3 years ago
Assets that you purchase for the purpose of accumulating wealth to satisfy your financial goals are called
Phantasy [73]

Answer:

Investment assets.

Explanation:

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3 0
3 years ago
If I'd like to take 1000 and put it into a savings account for a long period of time in the hopes of earning a higher interest r
nevsk [136]

Answer:

Fixed Deposit Account

Explanation:

Commercial Banks perform this crucial role of accepting deposits & advancing loans.

3 Types of Deposits :

Current Account - Used by businesses, has liberal depositing & withdrawal rules for payments & receipts, negligible interest by bank (rather bank charges for their service).

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8 0
3 years ago
Two oil wells are for sale. The first will yield payments of $9,300 at the end of each of the next 15 years, while the second wi
Zina [86]

Answer:

The first oil well has a higher present value of $83,266.24 as compared to the present value of the second oil well of $74,804.25

Explanation:

Step 1: Determine the total yield for both oil wells

Total yield of the first oil wells=Yield payments per year×number of yield years

where;

Yield payments per year=$9,300

Number of yield years=15

replacing;

Total yield of the first oil wells=(9,300×15)=$139,500

The future value of the first oil well=$139,500

Total yield of the second oil well=Yield payment per year×number of yield  years

where;

Yield payments per year=$7,000

Number of payment years=28

replacing;

Total yield of the second oil well=(7,000×28)=$196,000

The future value of the second oil well=$196,000

Step 2: Determine the present value of the two oil wells

First oil well present value=Future value/(1+r)^15

r=3.5%=3.5/100=0.035

First oil well present value=$139,500/(1+0.035)^15

=139,500/(1.035^15)=83,266.24

The present value of the first oil well=$83,266.24

Second oil well present value=Future value/(1+r)^28

r=3.5%=3.5/100=0.035

Second oil well present value=$196,000/(1+0.035)^28

=196,000/(1.035^28)=74,804.25

The present value of the second oil well=$74,804.25

The first oil well has a higher present value of $83,266.24 as compared to the present value of the second oil well of $74,804.25

8 0
3 years ago
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