Business math of interest rates and formulas
Solve the following problems showing all your work every
step of the way.
1. You have been given information that if a student is a
resident and they enroll for more than 12 hours, then their tuition will equal
$120 plus $10 per hour for every hour greater than 12. Create an equation that
would allow a student to simply plug in their number of hours enrolled and
calculate their tuition. Give a specific example to show your equation works.
2. Research: There are many formulas that are used in our
everyday lives. Use the library or the internet to research an example of a
formula, explain the variables of the formula, and show a specific example by
plugging in values for the particular formula.
3. Set up three different equations that have the solution
of 8. Solve your equations for your particular variable to prove the solution
is 8.
4. A business buys magazines for $2.50 each and sells the
same magazine for $3.50 each. How many magazines should the business sell in
order to profit $125? Create an equation by letting m equal the number of
magazines. Solve the equation for m.
II. Research. Research interest rates and find the reasons
that interest rates rise and fall. Who sets the interest rates? The discussion
should be at least two paragraphs long with at least two sources.
III. You have received an invoice for computer equipment. On
the invoice you have ordered 35 servers for a list price of $1200 each. The
invoice shows a trade discount series of 3/8/5. Find the net price and the
discount of the computer equipment.
IV. The same invoice in part III, gives another option of a
total of 16% discount. Are the net prices and the discount for the computer
equipment the same? Explain.
ScholarMatic: Explanation & Answer
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