A man formerly employed as a chief mechanic of an automobile repair shop has saved 4,000,000 deposited into a bank security bond which earns him 10% per year. He is thinking of quitting his 40,000 per month paying job to start his own business. He will hire 2 mechanics (500/day) and 8 helpers (250/day) which will be working around 300 days per year. He will be leasing a 40,000 per month and the other mscs. costs involved are projected to reach 25,000 per month. A.) Projecting an average of servicing at least 100 cars per month will this option be justifiable? Consider the average revenue per car serviced is at 2,500.

A man formerly employed as a chief mechanic of an automobile repair shop has saved 4,000,000 deposited into a bank security bond which earns him 10% per year. He is thinking of quitting his 40,000 per month paying job to start his own business. He will hire 2 mechanics (500/day) and 8 helpers (250/day) which will be working around 300 days per year. He will be leasing a 40,000 per month and the other mscs. costs involved are projected to reach 25,000 per month. A.) Projecting an average of servicing at least 100 cars per month will this option be justifiable? Consider the average revenue per car serviced is at 2,500.

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...

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