Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You run a school in Florida. Fixed monthly cost is $5,887.00 for rent and utilities, $5,841.00 is spent in salaries and $1,092.00 in insurance. Also

image text in transcribed

You run a school in Florida. Fixed monthly cost is $5,887.00 for rent and utilities, $5,841.00 is spent in salaries and $1,092.00 in insurance. Also every student adds up to $103.00 per month in stationary, food etc. You charge $682.00 per month from every student now. You are considering moving the school to another neighborhood where the rent and utilities will increase to $10,682.00, salaries to $6,940.00 and insurance to $2,373.00 per month. Variable cost per student will increase up to $163.00 per month. However you can charge $1,123.00 per student You want to determine how much charge per student has increased in percent. To calculate this, divide the new change per student by the previous charge per student, keep in a decimal form and round to 3 decimal points. Submit Answer format: Number: Round to: 3 decimal places

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

Governing Global Finance

Authors: Michele Fratianni, Paolo Savona

1st Edition

1138742147, 978-1138742147

More Books

Students also viewed these Finance questions