Solve the problem. An accountant receives a salary of $250,0…
Solve the problem. An accountant receives a salary of $250,075 per year. During the year, he plans to spend $92,000 on his mortgage, $51,000 on food, $32,000 on clothing, $41,000 on household expenses, and $25,000 on other expenses. With the money that is left, he expects to buy as many shares of stock at $275 per share as possible. How many shares will he be able to buy?
Read DetailsSolve the problem.Lonnie needs extra money to buy a truck to…
Solve the problem.Lonnie needs extra money to buy a truck to start up a delivery service. He takes out a simple interest loan for for 8 months at a rate of 5.25% . How much interest must he pay, and what is the future value of the loan?
Read DetailsSolve the problem. Show your work.A boxer takes 2 drinks of…
Solve the problem. Show your work.A boxer takes 2 drinks of water after each of the first four rounds of a championship fight. After the fifth round he increases the number of drinks by 1. If he continues to increase his drinks by 1 after each round, how many drinks will he take between the 14th and 15th rounds (that is, after the 14th round)?
Read DetailsSolve the problem.The price of a home is $280,000. The bank…
Solve the problem.The price of a home is $280,000. The bank requires a 5% down payment. After the down payment, the balance is financed with a 30-year fixed-rate mortgage at 8.5%. Determine the monthly mortgage payment (excluding escrowed taxes and insurance) to the nearest dollar.
Read DetailsUse the four-step method in problem solving to solve the pro…
Use the four-step method in problem solving to solve the problem.A college cafeteria pays student cashiers $5.30 per hour. Cashiers earn an additional $1.40 per hour for each hour worked over 35 hours per week. A cashier worked 43 hours one week and 40 hours the second week. How much did this cashier earn in this two-week period?
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