c. what is the probability that sally will have more than $1 million in her retirement fund when she reaches age 60? d. how much should she invest each year if she wants there to be a 90% chance of having at least $1 million in her retirement fund at age 60? e. suppose that sally contributes $3,000 annually to her retirement fund for eight years and then terminates these annual contributions. how much of her salary would she have contributed to this retirement plan and how much money could she expect (the average amount) to have accumulated at age 60? f. now suppose that sally contributes nothing to her retirement fund for eight years and then begins contributing $3,000 annually until age 60. how much of her salary would she expect to have accumulated at age 60? g. what should sally (and you) learn from the answers to questions e and f?
Answers
To have a probability of at least 50% of having more than $1 million at age 60, Sally would need to increase her annual contribution to around $10,000.
To answer the first question, we need to consider the expected rate of return on Sally's retirement fund and the number of years until she reaches age 60.
Let's assume a conservative rate of return of 5%. Using a financial calculator or spreadsheet, we can find that the future value of Sally's retirement fund with an annual contribution of $3,000 over 35 years (from age 25 to age 60) is approximately $314,000.
To have a probability of at least 50% of having more than $1 million at age 60, Sally would need to increase her annual contribution to around $10,000.
For question d, we can use the same assumptions and use a financial calculator or spreadsheet to solve for the annuity payment required to achieve a future value of $1 million with a 90% probability. The result is approximately $5,500 per year.For question e, Sally's total contribution over eight years would be $24,000.
Assuming the same 5% rate of return, the future value of this contribution at age 60 would be approximately $35,000.
For question f, we can use the same assumptions as before and find that Sally would need to contribute approximately $5,000 per year to achieve a future value of $1 million at age 60.From the answers to questions e and f, we can learn that early contributions to a retirement fund have a significant impact on the eventual value. Sally's contributions over eight years in her 20s resulted in a much lower future value compared to the same contributions over eight years in her 40s.
This highlights the importance of starting to save for retirement early. It also shows the impact of compounding returns over time.
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Related Questions
A single taxpayer, operates a business that produces of income before any amounts are paid to her. she has no dependents and no other income. she has itemized deductions of:________
Answers
She has itemized deductions of Taxable income. An itemized deduction is a cost that can be deducted from your adjusted gross income (AGI) to lower your taxable income and, as a result, the amount of taxes you owe. Such deductions allow taxpayers who qualify to pay less tax than if they had taken the standard deduction.
Which is a fixed cash amount that fluctuates depending on filing status. Mortgage interest, charity gifts, and unreimbursed medical expenses are all allowable itemized deductions that may be subject to limits. An itemized deduction is a tax deduction that can be deducted from your adjusted gross income (AGI) to lower your taxable burden.
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What does "Certeris Paribus" assume when
calculating how people spend money?
A. The person has held the same job with the same amount of
pay
B. The person has been promoted and makes more money than
before.
C. The person has lost their job and is unemployed at the
moment.
D. The person has taken a second job for additional income.
Answers
Explain the different sources of business ideas
Answers
Answer:
Hobby.
Complaints.
Exhibitions.
Experience.
Brainstorming.
Surveys.
Mass media etc…
Explanation:
1. HOBBY:
An activity you do when you’re not working.
Do you know that you can make money from whatever it is you like or enjoy doing? All you have to do is to identify the things you do most often especially when you’re free, evaluate them and act. (Just have a quiet time and reflect on how to make money from what you enjoy doing).
2. COMPLAINTS:
Expressing unhappiness.
Critically evaluate the following statements…
“I wish there was…”
“If only there were a product that could…”
“If only there were services that could…”
See Also: How to Generate Business Ideas
Most of these come up maybe when a customer is not satisfied with a product/service that he or she has tried. Your role here is to put those complaints into consideration then generate ideas to solve such problems because from what you heard above, there is a problem that needs a solution.
3. EXHIBITION:
A demonstration of a particular skill or craft.
Attending exhibition and trade fairs regularly will help you discover new products or services and give you an opportunity to meet with manufacturers, sales representatives, wholesalers, distributors, etc… They can help you with information on getting started or might need your services.
4. EXPERIENCE:
Knowledge or skill gained through been involved in or exposed to something over a period of time.
Don’t look down on any skill or training you learned or passed through because over half of the ideas of successful businesses come from the experience in the work. The background of a potential entrepreneur plays a crucial role in the decision to go into the business as well as the type of venture to be created. Your skills and experience are your most important resources, therefore, be productive and capitalize on them.
See Also: Entrepreneur - Practice of Entrepreneurship (Summary)
5. BRAINSTORMING:
This is a way of making a group of people all think about something at the same time.
Often, in order to solve a problem or to create good ideas. It usually starts with a question or problem statement and each idea leads to one or more additional ideas, resulting in a good number.
Ensure you don’t criticize or judge the ideas of others.
Consider all ideas even those that seem to be wild or crazy.
The greater the number of ideas, the better.
Combine and improve upon the idea of others.
6. SURVEY:
To look at or consider something in a general or very broadway.
This has to do with an investigation on the opinions, behavior, etc… of a particular group of people which is usually done by asking them questions. Such a survey can be or might be conducted formally or informally by talking to people, usually using a questionnaire or through interviews and, or through observation.
See Also: How to Generate Business Ideas
7. MASS MEDIA:
This is a great source of information and news such as newspapers, magazines, radio, the internet and television.
They reach and influence a large number of people from the advertisements and offers and even information you derive from the mass media, you can come up with ideas to work on.
polling agency is investigating the voter support for_ regions have equal number of voters ballot measure in an upcoming city election The City is divided in two in them: The agency will select _ random regions Region A and region B. Both population proportion of voters who would sample of 500 voters from one region, Region A of the city Assume that support the ballot measure in Region A is 0.47 . the What is the probability that the proportion of voters in the sample of Region who support the ballot measure greater than 0.50 ? The polling agency will take another sample from different region, Region B, of the city: The the population proportion of voters who would agency plans to select random sample of 400 voters. Assume that support the ballot measure in Region B is 0.51 What is the probability that , measure might pass?
Answers
The polling agency is investigating voter support for a ballot measure in an upcoming city election in regions A and B, which have an equal number of voters.
They plan to select random regions to conduct polls and determine the proportion of voters who support the ballot measure.The polling agency will randomly select two regions, Region A and Region B. A sample of 500 voters will be taken from Region A. Assuming that the proportion of voters who support the ballot measure in Region A is 0.47, the probability that the proportion of voters in the sample of Region A who support the ballot measure is greater than 0.50 is required. This will help to understand if the support for the ballot measure in Region A is significant or not.Using the central limit theorem, we can assume that the sampling distribution is normal because the sample size n = 500 is greater than or equal to 30 and the population proportion of voters who support the ballot measure is greater than or equal to 10
Therefore, we can conclude that there is only a small probability that the support for the ballot measure in Region A is significant, and further analysis is required.
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List three (3) Safety measures the cashier must take into consideration when doing/making a lodgment at any Financial Institution.
Answers
A cashier must accurately check the number of notes and currency; check the authenticity of the notes with a vending machine, and also ensure the offer of receipt to the person.
What are the roles of a cashier?A cashier is someone who handles the daily inflow and outflow of cash in any financial institution. There shall be zero to less fungibility in the work of a cashier.
To ensure that the cash transactions are true and correct, a cashier must take the following safety measures :
Accuracy in number of notes and currencies received throughout the day. Authenticate the notes and currencies with the help of vending machine. When a transaction is completed, a cashier must give the receipt of the same to the customer.Hence, the aforementioned safety measures are to be taken by the cashier while making transactions at a financial institution.
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Suppose General Electric payed its line workers $12 per hour
Answers
The relevant answers with regard to real wages are as follows:
A) $10.08
B) 10.89
C) 19.05. See explanation below.
What is the computation justifying the above results?[A]
Recall that Real Wages are computed as follows;
Real Wages = (Nominal Wage/CPI in the Given Year) x CPI in the base year
12 = (N/84) x 100
= 10.08
[B]
The formula for real wage still stands:
Hence,
12 x 1.08 = (N/84) x 100
= 10.89
One thing to keep in mind is that the percentage rise in real wages is always equal to the percentage increase in nominal wages. The same may be demonstrated with other values.
[C]
It is to be noted that the real wage is pegged at $12 which is same from the prior year.
Hence, percentage increase = 0
But because $12 is Nominal in the incumbent year,
[(12 - 10.08)/10.08] x 100
= 92/10.08
= 19.05
What is real wages?Real wages are earnings adjusted for inflation, or pay expressed in terms of the quantity of goods and services that may be purchased. In contrast to nominal wages or unadjusted wages, this word is used.
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Full Question:
Suppose General Electric paid its line workers $12 per hour in 2015 when the Consumer Price Index was 100. Suppose that deflation occurred and the aggregate price level fell to 84 in 2016. Instructions: Round your answers to two decimal places. a. GE needed to pay its workers $ in 2016 in order to keep the real wage fixed at $12. b. GE needed to pay its workers $ in 2016 if it wanted to increase the real wage by 8 percent. c. If GE kept the wage fixed at $12 per hour in 2016, in real terms, its workers got a % increase in wages.
why do you think that continuing to add employees, stops to be effective at a certain point ?
Answers
why is training important for a good job?plz answer
Answers
Advantages of training
Increased job satisfaction and morale among employees.
Increased employee motivation.
Increased efficiencies in processes, resulting in financial gain.
Increased capacity to adopt new technologies and methods.
Increased innovation in strategies and products.
Implicit costs are:A) regarded as costs by accountants but not by economistsB) payments that a firm makes to other firms or individuals who supply resources to itC) nonexpenditure costsD) costs that proportionately with output
Answers
Implicit costs are:
option C). non expenditure costs.
How Do Implicit Costs Work?
Any cost that has already occurred but isn't necessarily displayed or reported as a distinct item is known as an implicit cost. It stands for an opportunity cost that develops when a business devotes internal resources to a task without receiving any direct payment for the usage of such resources. This implies that there is never a financial transaction when a corporation allocates its resources since it always forfeits the chance to profit from the usage of those resources elsewhere. Simply put, there is an implicit cost associated with using an object as opposed to renting or purchasing it.
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what are three advantages of a high/low pricing strategy? multiple select question. it reduces advertising and operating expenses. it assures customers of continually low prices. it increases profits by allowing retailers to charge higher prices. it creates excitement for consumers. it improves inventory management. it provides a way to get rid of slow-selling merchandise.
Answers
Three advantages of a high/low pricing strategy are it reduces advertising and operating expenses. it assures customers of continually low prices. it increases profits by allowing retailers to charge higher prices.
By providing a discount to a product that is priced "high," buyers are more inclined to purchase the goods because they believe it is a good deal. In essence, the initial high price establishes the product's value to customers. Major advertising such as Macy's and Nordstrom, as well as specialty companies such as Adidas and Nike, use high-low pricing strategy extensively. They set high prices but then offer lower prices to customers on a regular basis through sales, promotions, or coupons.
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Which parts of your business are not profitable?
Answers
Answer:
7 Problems Preventing Your Business From Being Profitable
Low prices. Setting prices is one of the first and most important decisions you'll have to make for your business.Too much overhead.Too many ongoing costs.Unseen or hidden costs.Fierce competition.A lack of market awareness. Inconsistency.Any model is based on making assumptions because
Answers
Generally, the economic model is based on making assumptions because of an inability to analyze economic issue unless the complexity is reduced and the models have to be simplified to make it useful.
What is an economic model?This refers to a simplified description of reality that is designed to yield hypotheses about economic behavior that can be tested.
However, this economic model is based on making assumptions because of an inability to analyze economic issue unless the complexity is reduced and the models have to be simplified to make it useful.
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explain external economics and external diseconomics
Answers
Answer:
If the social cost of an activity exceeds the costs relevant to the decision makers in the activity , there is an external diseconomy . If the benefits of an activity exceed its marginal cost , there is an external economy .
Explanation:
Thaats whaaat upp
Explanation:
If the social cost of an activity exceeds the costs relevant to the decision makers in the activity, there is an external diseconomy. If the benefits of an activity exceed its marginal cost, there is an external economy.
which of the following statements is true of a conglomerate investment? multiple choice it runs the risk of being taken over by the government because it is export-oriented. it is typically made with an eye toward satisfying the host country's market demands. it includes the production of raw materials or intermediate goods that are to be processed into final products. it is a type of high-risk investment in which goods or services produced are different from those produced at home.
Answers
A conglomerate investment is a type of high-risk investment in which goods or services produced are different from those produced at home.
It includes the production of raw materials or intermediate goods that are to be processed into final products. This type of investment is typically made with an eye toward satisfying the host country's market demands, as it allows for diversification and reduces dependence on a single market or product.
However, it also runs the risk of being taken over by the government, especially if it is export-oriented. Therefore, it is important for investors to carefully assess the political and economic risks of investing in a conglomerate, and to have a detailed understanding of the market dynamics and regulatory environment in the host country.
Overall, a conglomerate investment can offer significant rewards but also carries significant risks, and investors should conduct thorough due diligence before making any investment decisions.
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Briefly explain the following terms.
Production =
Labour intensive =
& Capital intensive =
Answers
Explanation:
1.Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output). It is the act of creating an output, a good or service which has value and contributes to the utility of individuals.
2 . Labour intensive =The term "labor-intensive" refers to a process or industry that requires a large amount of labor to produce its goods or services.
3.Capital intensive =
The term "capital intensive" refers to business processes or industries that require large amounts of investment to produce a good or service and thus have a high percentage of fixed assets, such as property, plant, and equipment
an inferior good is one that: select one: a. no consumers are willing to buy. b. gets poor reviews from objective, independent evaluators. c. is of low quality or not very durable. d. experiences decreased demand when income increases.
Answers
Option d: An inferior good is one that experiences decreased demand when income increases.
Inferior goods are goods that have a negative relationship with income. This means that as income increases, demand decreases and vice versa.
Unlike ordinary goods, it can be said to have a negative income elasticity. As consumer incomes fall, demand increases as inferior goods become affordable alternatives.
A basic example of adulteration is public transport. When consumers have low incomes, they commute by public transport, buses, trains, etc. When incomes increase, they prefer to drive their own cars instead.
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A theater has fixed operating costs, such as electricity, salaries, and rent. What is this break-even point called
Answers
The fixed operating cost in the question is one of the requirement to be used to calculate the Break even units not the break-even point.
Usually, the break-even point is the point where the total revenue equals the total costs of the business.
In other word, the break-even point means that the expenses and revenue are equal and thus, the company will record neither a net loss or gain.
The formula used to derive the Break even unit is [Fixed Costs / (Sales price per unit – Variable costs per unit)}
Therefore, the fixed operating cost in the question is one of the requirement to be used to calculate the Break even units not the break-even point.
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which of the following statements is true of service employees? a. they require good human interaction skills and strong cross-selling skills. b. they perform mechanized and rigid processes. c. they have little or no interaction with customers.
Answers
The statement that is true of service employees is they require good human interaction skills and strong cross-selling skills. Therefore the correct option is option A.
Service employees are often in direct contact with customers, so they need to have excellent communication and interpersonal skills in order to provide a satisfactory experience. They must also be knowledgeable about the product or service they are selling, so that they can suggest items that the customer may not have considered.
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D=8 H000, S=45. 00,H=2 wh hingat is EOQ, what happens if double,What happen if holding cost drop to half
Answers
The optimal order quantity for this product is approximately 848 units. The business could order fewer units to meet the same level of demand, which could result in lower holding costs.
In inventory management, EOQ stands for Economic Order Quantity. It is a mathematical formula that helps to determine the optimal order quantity that a business should place for a particular product to minimize the total cost of ordering and holding inventory.
Given the information provided, we can calculate the EOQ as follows:
EOQ = √(2DS/H)
where D = annual demand, S = setup cost per order, and H = holding cost per unit per year.
Substituting the given values, we get:
EOQ = √(2 x 8,000 x 45 / 2)
EOQ = √(720,000)
EOQ ≈ 848 units
If the demand doubles to 16,000 units, the EOQ formula would yield a new value, assuming that the other factors remain the same. The new EOQ would be approximately 1,196 units. This means that the business would need to place larger orders to meet the increased demand, which could result in higher ordering and holding costs.
If the holding cost drops to half, the EOQ formula would yield a lower value, assuming that the other factors remain the same. The new EOQ would be approximately 602 units. However, it is important to note that decreasing the holding cost too much could lead to stockouts and lost sales, which would negatively impact the business's revenue and customer satisfaction.
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Which type of facility layout is seen in the given example? George works as an operations manager for a machine manufacturer. With the help of George's advice, the manufacturing plant has installed a separate set of machines for various processes, such as shearing, milling, drilling, and packing the product. The business is thus using _________ a layout
Answers
Answer: process
Explanation:just did the test on edmentum
Answer:
process
Explanation:
plato edmentum answer
"Social/Environmental issues are more complex than business issues,"
Agree or disagree with this statement and explain.
Answers
I agree with the statement. Social and environmental issues are more complex than business issues. This is an agreeable statement because social and environmental issues cannot be solved by merely making a profit. Environmental and social problems are complex and require long-term investments and sustainable solutions.
Business issues, in contrast, are more straightforward and can be resolved with the right resources and strategy. When businesses encounter problems, they can hire experts to analyze and come up with a solution. This solution can be implemented quickly and effectively, leading to the problem being resolved.
Social and environmental problems are often deeply rooted and intertwined with historical, social, cultural, and political factors. For example, environmental problems can be traced back to centuries of colonialism, resource exploitation, and disregard for indigenous knowledge.
Addressing these problems involves acknowledging and addressing historical injustices, challenging political systems, and adopting sustainable development practices. Social issues such as poverty, gender inequality, and racism are equally complex.
These issues are not just economic in nature but are a result of cultural and societal norms and values. Thus, solving these issues requires a multifaceted approach that involves addressing systemic inequalities and creating opportunities for marginalized groups.
In conclusion, social and environmental issues are complex and require a long-term, sustainable approach that considers historical, social, and political factors.
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Your house is for sale for $210,000. A realtor will charge you a 3% sales commission. If you choose a "sale by owner" option bypassing a realtor, you will pay no commission, but you will have to pay an attorney an average of $950 at your closing. What will you save by choosing the "sale by owner" option?
Answers
Answer:
5350
Explanation:
If your house is for sale for $210,000. What you will save by choosing the "sale by owner" option is $5350.
What is Sales?Sales can be defined as the way of selling a product in exchange for cash.
Using this formula
Amount saved=(Selling price×Sales commission)- Closing price
Let plug in the formula
Amount saved=($210,000×3%)-$950
Amount saved=$6,300-$950
Amount saved=$5,350
Therefore If your house is for sale for $210,000. What you will save by choosing the "sale by owner" option is $5350.
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what applies to any business that sells its products or services to consumers over the internet?
Answers
Any business that sells its products or services to consumers over the internet is subject to various laws and regulations.
One of the most important regulations that applies to e-commerce businesses is the Electronic Commerce (EC Directive) Regulations 2002, which governs the way in which businesses interact with customers online. The regulations require businesses to provide certain information to customers, including their contact details, VAT number, and information about how to make a complaint.
In addition to the EC Directive, businesses that sell products or services online must comply with a range of other laws and regulations, including consumer protection laws, data protection laws, and advertising standards. These regulations are designed to ensure that businesses treat customers fairly and transparently, and that they protect customer data and privacy.
To ensure compliance with these regulations, businesses that sell products or services online must take a proactive approach to legal and regulatory compliance.
This may involve working with legal experts to ensure that their websites and marketing materials are compliant, implementing robust data protection measures, and regularly reviewing and updating their compliance policies and procedures. Ultimately, by prioritizing legal and regulatory compliance, businesses can build trust and confidence among their customers, and avoid costly legal issues down the line.
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For what reason can you infer that it might be relevant for a policy analyst to have a law degree?
A) Departments of education are in the executive branch, and most executive-branch officials have law degrees.
B) Policy analysis is a volatile job market, and it is helpful to have another field to fall back on.
C) Education policy needs to be enacted into law by our legislators and needs to comply with other state and federal laws.
D) Policy analysts tend to get sued by ideological foes, so legal knowledge is good protection.
Answers
Explanation:
i think is answer b.....m.
On January 1, 2017, Trinity Company loaned $901,560 to Litton Industries in exchange for a 3 year, zero-interest-bearing note with a face amount, $1,200,000. The prevailing rate of interest for a loan of this type is 10%. The adjusting journal entry made by Litton at December 31, 2017 with regard to the note will include:___.
a. a credit to Interest Payable for $60,000.
b. a credit to Discount on Notes Payable for $90,156.
c. a debit to Interest Expense for $120,000.
d. a debit to Interest Expense for $29,850.
Answers
The adjusting journal entry made by Litton at December 31, 2017, with regard to the note will include: a debit to Interest Expense for $29,850. The correct answer is option d.
In this scenario, the note was issued at a discount because the prevailing interest rate (10%) is higher than the zero-interest rate. The discount is the difference between the face amount of the note ($1,200,000) and the present value of the note at the prevailing interest rate.
To calculate the discount, we can find the present value of the note using the formula:
Present Value = Face Amount / (1 + Interest Rate)^Number of Periods
Present Value = $1,200,000 / (1 + 0.10)^3 = $1,200,000 / 1.331 = $901,560 (approx.)
Therefore, the discount on the note is $1,200,000 - $901,560 = $298,440.
Since the note is for a period of one year, the interest expense for Litton will be the discount multiplied by the prevailing interest rate:
Interest Expense = Discount * Interest Rate = $298,440 * 0.10 = $29,844 (approx.)
The correct answer option is not listed, but the closest option is:
d. a debit to Interest Expense for $29,850.
Please note that this option has a slight discrepancy in the amount, likely due to rounding in the calculations.
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A method of cost assignment where a cost can be associated to the particular cost object in an economically feasible way is called ________.
Answers
Answer:
indirect costs
Explanation:
costs related to a particular cost object that cannot be traced to that cost object in an economically feasible way. cost assignment. general term for assigning costs, whether indirect or direct.
I hope it helps.
Russell United has 28,500 shares of stock outstanding and has two open seats on its board of directors. Each share of common stock is granted one vote. How many additional votes are required to guarantee a seat on the board if the company were to use straight voting rather than cumulative voting
Answers
Answer:
4,750
Explanation:
Calculation for How many additional votes are required to guarantee a seat on the board
First step is to Calculate for STRAIGHT VOTING
Using this formula
Additional Votes= ((Shares of stock outstanding/2)+1)
Let plug in the formula
Additional Votes=((28,500/2)+1)
Additional Votes=14,251
Second step is to calculate for CUMULATIVE VOTING
Using this formula
Additional Votes= ((Shares of stock outstanding/(Number of seats +1))+1)
Let plug in the formula
Additional Votes=((28,500/(2 +1))+1)
Additional Votes=9,501
Last step is to calculate How many additional votes are required
Using this formula
Additional votes =STRAIGHT VOTING additional vote-CUMULATIVE VOTING additional Votes
Let plug in the formula
Additional votes = 14,251-9,501
Additional votes = 4,750
Therefore How many additional votes are required to guarantee a seat on the board if the company were to use straight voting rather than cumulative voting is 4,750
first person get brianlyeist
Answers
Answer:
yay
Explanation:
Money is a ______ of some item or group of items that is used as a medium of exchange.
Answers
The fact that money can be used as a medium of exchange is as a result of it being a stock of some items.
What can money do?Money allows for us to trade goods and services which makes it invaluable as a medium of exchange.
The reason money can do this is because it can be denoted as the stock or value of some items.
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(b)
Your warehouse manager reports that there were four king-size sheets and three queen-size sheets returned, along with five packages of queen pillow cases. Calculate the revised total due (in $).
$
(c)
The vendor has offered a 8% early payment discount that applies only to the merchandise, not the shipping or insurance. What is the amount of the discount (in $)? (Round your answer to the nearest cent.)
$
(d)
What is the new balance due after the discount (in $)? (Round your answer to the nearest cent.)
$
Answers
The revised overall due is $6,117.60. The early fee bargain amount is $416.88, and the new stability due after the bargain is $5,700.72.
(a) After correcting the mistakes within the itemization, the revised invoice desk must be as follows:
QTY. Ordered QTY. Shipped Description Unit Amount
44 ea. Sheets, king $45.10 $1,984.40
65 ea. Sheets, queen $39.60 $2,574.00
28 pkg. Pillow Cases, queen $17.85 $498.80
55 pkg. Pillow Cases, std. $17.35 $954.25
6 ea. Shams $33.25 $199.50
Invoice Subtotal $5,210.95
Shipping Charges of $131.50
Insurance $23.35
Invoice Total $5,365.80
(b) The variety of king-size sheets back is 4, and the quantity of queen-size sheets returned is three. The total cost of the back sheets may be calculated as follows:
4 * $45.10 (king-length sheet fee) + 3 * $39.60 (queen-length sheet rate) = $180.40 + $118.80 = $299.20
(c) The early fee bargain provided via the vendor is 8% of the product's fee. To calculate the bargain, we need to subtract the value of shipping and insurance from the invoice subtotal and practice the bargain percent:
Discount = 8% * (Invoice Subtotal - Shipping Charges - Insurance)
Discount = 8% * ($5,210.95 - $131.50 - $23.35) = 8% * $5,056.10 = $404.49
(d) The new balance due after making use of the cut price may be calculated by using subtracting the discount quantity from the bill overall:
New Balance Due = Invoice Total - Discount
New Balance Due = $5,365.80 - $404.49 = $4,961.31
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The correct question is:
"INVOICE Hamilton Mills No. 49485 INVOICE DATE July 9, 20xx 115 Rock Creek Road CUSTOMER'S Charlotte, North Carolina 28235 ORDER NO. 49485 SOLD TO: SHIP TO: SAME The Bedding Warehouse 406 Maple Road Franklin, VA 23851 SALESMAN SHIPPED VIA Federal Express TERMS Net 30 Days F.O.B. Charlotte, N.C. QTY. ORDERED QTY. SHIPPED DESCRIPTION UNIT AMOUNT 44 ea. Sheets, king $45.10 $1,984 40 65 ea. Sheets, queen $39.60 $2,57400 28 pkg. Pillow Cases, queen $17.85 $44980 55 pkg. Pillow Cases, std. $17.35 $954 25 6 ea. Shams $33.25 $299 50 $6,261.95 INVOICE SUBTOTAL SHIPPING CHARGES $131.50 Insurance $23.35 INVOICE TOTAL $6,416.80 Invoice Table QTY. Ordered QTY. Shipped Description Unit Amount 44 ea. Sheets, king $45.10 $1,984.40 65 ea. Sheets, queen $39.60 $2,574.00 28 pkg. Pillow Cases, queen $17.85 $449.8 55 pkg. Pillow Cases, std. $17.35 $954.25 6 ea. Shams $33.25 $299.5 Invoice Subtotal $6,261.95 Shipping Charges $131.50 Insurance $23.35 Invoice Total $6,416.80 (a) You notice several errors in the itemization of the invoice. Correct the errors in the itemization ing the fol table $). QTY. Ordered QTY. Shipped Description Unit Amount 44 ea. Sheets, king $45.10 $ 65 ea. Sheets, queen $39.60 $ 28 pkg. Pillow Cases, queen $17.85 $ 55 pkg. Pillow Cases, std. $17.35 $ 6 ea. Shams $33.25 $ $ Invoice Subtotal $ Shipping Charges $131.50 Insurance $23.35 Invoice Total $ (b)
Your warehouse manager reports that there were four king-size sheets and three queen-size sheets returned, along with five packages of queen pillow cases. Calculate the revised total due (in $).
$
(c)
The vendor has offered a 8% early payment discount that applies only to the merchandise, not the shipping or insurance. What is the amount of the discount (in $)? (Round your answer to the nearest cent.)
$
(d)
What is the new balance due after the discount (in $)? (Round your answer to the nearest cent.)
$ "