Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

SHOW WORK PLEASE.. LONG ANSWERS AND TIMEDKarim works in a retail computer store. He receives a weekly base salary of $400 plus a commission of

SHOW WORK PLEASE.. LONG ANSWERS AND TIMEDKarim works in a retail computer store. He receives a weekly base salary of $400 plus a commission of 3% of sales exceeding his quota of $25,000 per week. What are his total sales for a week in which he earns $730.38? Answer to the nearest cent. Total: 3 marksArcelor Mittal Dofasco can buy iron ore pellets from Minnesota at US$130 per short ton (2000 pounds) or from Labrador at C$175 per metric tonne (1000 kg). Which source is more expensive and by how much in C$ per metric tonne? (1 pound = 0.4536 kg, C$1.1400 = US$1.00) Weight and currency calculations should be to 4 decimal places; final answer rounded to the nearest cent. Total: 5 marksCentral Ski and Cycle purchased 50 pairs of ski boots for $350 per pair less 30% and 10%. The regular rate of markup on selling price of the boots is 50%. The stores overhead is 25% of the selling price. During a January clearance sale, the price was reduced to $325 per pair. What is the rate of markdown and what was the profit or loss on each pair of boots at the sale price? Answer to the nearest cent. Total: 6 marksRamon wishes to replace payments of $900 due today and $500 due in 22 months by a single equivalent payment 18 months from now. If money is worth 4.8% compounded monthly, what should that payment be? Interim calculations to 3 decimals, final answer rounded to the nearest cent. Total: 7 marksRounded to the nearest quarter year, how long will it take an investment to quadruple if it earns 8% compounded semi-annually? Total: 7 marksA life insurance company pays investors 5% compounded annually on its five-year GICs. For you to be indifferent as to which compounding option you choose, what would the nominal rates have to be on GICs with quarterly compounding? Interim calculations should be to 5 decimal places; final answer to the nearest .01%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Real Estate Finance and Investments

Authors: William Brueggeman, Jeffrey Fisher

14th edition

73377333, 73377339, 978-0073377339

More Books

Students also viewed these Finance questions

Question

Write out the Fraud Function.

Answered: 1 week ago