Question
1. Tristan Sandino is selling his motorcycle. He has been offered $500 cash plus monthly payments of $250 for 3 years, followed by $150 monthly
1. Tristan Sandino is selling his motorcycle. He has been offered $500 cash plus monthly payments of $250 for 3 years, followed by $150 monthly for the next year. What is the net present value of these payments (NPV)? Assume money is worth 1.2% compounded monthly. Round to the nearest cent.
2. Francesca Deltoro is selling an elliptical that she had purchased for $1,295. She would like to make a profit of 15% based on selling price. What should she charge?
3. Sports Haven produces a brand of running shoe priced at $145.90. Fixed costs are $10,200 a month; variable cost per pair of shoes is $15. How many pair of shoes must be sold each month to break even?
4. Gundersons Hardware paid $3,118.40 last year in property taxes. Find the fair market value of the property if the tax rate is $2.60 per $100 with an assessment rate of 80% of fair market value. Round to the nearest whole dollar.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started