Questions from Business Mathematics

Q: Mary sews for a clothing manufacturer. She is paid $7

Mary sews for a clothing manufacturer. She is paid $7.50 per hour plus a piecework rate that depends on the type of garment in production. The current production run is men’s shirts, for which she is...

Q: Using the information given in Problem 8, calculate the interest earned

Using the information given in Problem 8, calculate the interest earned in the second year from a $1000 investment in each GIC. Data from Problem 8: Sun Life Financial offers a five-year compound int...

Q: Scheduled payments of $3000 due today and $2000 due in

Scheduled payments of $3000 due today and $2000 due in 15 months are to be replaced by two payments—$1500 due in 15 months and a second payment of undetermined size due in 24 months. What must the sec...

Q: The owner of a residential building lot has received two purchase offers

The owner of a residential building lot has received two purchase offers. Mrs. A is offering a $20,000 down payment plus $40,000 payable in one year. Mr. B’s offer is $15,000 down plus two $25,000 pay...

Q: During its January Sale, Furniture City is offering terms of 25

During its January Sale, Furniture City is offering terms of 25% down with no further payments and no interest charges for six months, when the balance is due. Furniture City sells the conditional sal...

Q: Henri has decided to purchase a $25,000 car.

Henri has decided to purchase a $25,000 car. He can either liquidate some of his investments and pay cash, or accept the dealer’s proposal that Henri pay $5000 down and $8000 at the end of each of the...

Q: A lottery prize gives the winner a choice between (1)

A lottery prize gives the winner a choice between (1) $10,000 now and another $10,000 in 5 years, or (2) four $6700 payments—now and in 5, 10, and 15 years. 1. Which alternative should the winner choo...

Q: CompuSystems was supposed to pay a manufacturer $19,000 on

CompuSystems was supposed to pay a manufacturer $19,000 on a date four months ago and another $14,000 on a date two months from now. Instead, CompuSystems is proposing to pay $10,000 today and the bal...

Q: Payments of $5000 due three years from today and $7000

Payments of $5000 due three years from today and $7000 due five years from today are to be replaced by two payments due 1 1 2 and four years from today. The first payment is to be half the amount of t...

Q: Two payments of $3000 each are due today and five years

Two payments of $3000 each are due today and five years from today. The creditor has agreed to accept three equal payments due one, three, and five years from today. Assuming that money can earn 7.5%...