10) Compute the simple interest on a loan of P= $9000 for n = 8 years at r = 12%

Question

10) Compute the simple interest on a loan of P= $9000 for n = 8 years at r = 12% simple interest per year. A small business pays $13,860 tax for $93,500 in taxable income. Find their tax rate, expressed as a percent rounded to the nearest hundredth. 11) 12) Suppose you manage human resources for a small company. Because the company's profits grew 30% last year, you've been allocated an additional 30% in your annual budget to hire new employees. If the newly allocated budget is $720,000, how much was your last year budget? 13) There are 251,500 potential customers for your company's services. If you plan to achieve a 16% market share after your new promotional campaign, how many new customers are you expecting? 14) A clerk needs to price a digital camera returned by a customer. The customer paid a total of $103.14, which included gift-wrapping charge of $3 and 8% sales tax. What price should the clerk mark on this tag? 15) Brad and Angie are travelling overseas. There are three international phone cards that they can buy: 1 More Talk 2. Talk On 3. Stay In Touch The "Stay In Touch" card costs 4 cents per minute plus a $1 call connection fee. The cost per call using the "Stay In Touch" card can be described by the equation: C = 4t + 100 where t = time (in minutes) for one call C-cost (in cents) per call.

Explanation / Answer

10)

simple interest per year=9000*12%=1080

11)

tax rate=13860/93500=14.82%

12)

last year budget=720000/1.30=553846.15

13)

new customers=16%*251500=40240

we do first 4 questions when the questions are small.

the above are the answers

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