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Question 5: (10 points) A water bottle company pays its machine operators the greater of $2.50 for each item produced or a graduated piecework
Question 5: (10 points) A water bottle company pays its machine operators the greater of $2.50 for each item produced or a graduated piecework rate piecework rate of $2.15 per unit for the first 55 items and $2.65 per unit thereafter. Don, a machine operator, produced 425 water bottles last week. (a) What was his gross pay for last week? (6 points) (b) Last year Don earned a annual salary of $55,020.13. How much federal income tax did he have to pay? (4 points) Question 6: (5 points) Nicole found 150 in her attic and sold it to a bank that charged her a commission of 0.25%. How much did she receive from the bank? Assume that the exchange rate was C$1.4533 = 1.0000 Question 7: (10 points) Brian, an investment banker, invests all his yearly earnings in stocks of Bitcoin, Steel Dynamics, and Upstart Holdings in the ratio of 2:5:8, respectively. Calculate his investment in Steel Dynamics and Upstart Holdings if his investment in Bitcoin stocks was $17,450.
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