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- ave $60 and your sister has $120. You are saving $14 per week and your sister is saving $10 per week. How long will it be before you and your sister have the same amount of money? What amount would you have the same?You need to get gasoline for your car. You can drive ten miles (round trip) to a gas station on the outskirts of town and save 15 cents per gallon on the price of gasoline. If gasoline costs $3.55 per gallon and your car gets 37 miles per gallon for in-town driving, how many gallons of gasoline must you buy at the edge-of-town station to save enough on your fill up to pay for the cost to going to the station and back? Ignore the wear- and-tear cost of operating your car in this example. (Enter your answer as a number without the units of gallons.)Mary's job position is being transferred to Lexington Kentucky from Orlando Florida. She and her husband George are currently running their home in Orlando but they have decided they want to purchase a home in Lexington. Mary's annual salary is $48,500. George has been able to find employment in Lexington at a factory making $39,000 per year. Mary is a planner and has saved $6,200 that she can use towards the down payment on the new house. To save the down payment Mary deposited in a savings account monthly earning 2.5 compounded monthly. If it took Mary 5 years to save up the down payment how much money was mary depositing each month
- Justin builds furniture for a living. Justin's out-of-pocket expenses (for wood, paint, etc.) plus the value that he places on his own time amount to hisWhat is the main difference between personal and disposable personal income?For Elizabeth, one of the most exciting aspects of landing a full-time job was being able to buy a different car! Even though she will be working in an urban area, she will need a reliable vehicle to travel to client locations outside the city. Elizabeth is trying to decide if she should buy a new vehicle or a slightly used vehicle, or lease a new(er) vehicle. She has had her eye on a dazzling blue SUV; it stares at her every time she drives by the lot. But she's not sure if she can justify its cost. Here are the costs and benefits she has gathered for each of these options: Monthly payment Time frame Warranty Full coverage Isurance Buy New $550 6 years Excellent for 100,000 miles $205 per month $350 Buy Used 4 years Excellent for next 40,000 miles only $155 per month Lease Midnight- Blue SUV $310 plus $2 per mile if over 10,000 miles per year 2 years Excellent for length of lease $185 per month
- Give typed solution only You are deciding whether to buy a car for $22,000 or to accept a lease agreement. The lease entails a $800 fee plus monthly payments of $260 for 48 months. Under the lease agreement, you are responsible for service on the car and insurance. At the end of the lease, you may purchase the car for $9000. Does the total cost of purchasing the car at the end of the lease agreement exceed the cost of purchasing the car at the outset? A.Yes, the total cost of the car at the end of the lease is B.No, the total cost of the car at the end of the lease is What will be the Savings given that income is $3200 and APS is 0.48Mark is currently earning $44,000 a year. He has worked for this firm for 5 years. He is considering a job that will increase his lifetime earnings by $240,000 but that requires a Ph.D. in finance. The job will mean also attending a full-time finance program for four years at an annual cost of $28,500. Mark already completed an MBA, for which he spent $86,000 in tuition and books. Would he take the job and attend the Ph.D. program? Calculate: Insutructions: Use ono decimals. Use commas (30,000, not 30000). Opportunity costs of this decision = $ MC = $ MB = $ Sunk Costs = $
- You have been working as a manager of fashion store. During your work you have saved $50,000. You decided to use the money you saved to start your own business. You decided to use the money you saved to buy the materials. You also decided to utilize a store you own to home your business. The store you used for your business could have been rented for year. You hired a clerk to help you in the store that will cost $20,000 per year. The interest you could have earned on the $50,000 you used to buy the materials was $3,000 per year. Furthermore, you decided to manage your own business and you decided to quit your job that was paying $28,000 per yearYou paid $8,000 for utility. What is your explicit cost? Assume that your total sale for the year was $160,000. What is your implicit cost, what is the accounting profit? What is your economic profit?Only typed answer Barney decides to quit his job as a corporate accountant, which pays $11,000 a month, and goes into business for himself as a certified public accountant. He runs his business from his converted garage apartment, which he could rent out for $305 a month if he wasn’t using it as a home office. He must purchase office supplies worth $70 a month, and his monthly electricity bill has increased by $50 now that he is working out of his home office. After six months of working from home, Barney has earned an average of $19,000 per month. Instructions: Enter your answers as a whole number. a. What are Barney’s monthly explicit costs? $ b. What are Barney’s monthly implicit costs? $ c. What are Barney’s monthly economic costs? $Pat used to work as an aerobics instructor at the local gym earning $35,000 a year. Pat quit that job and started working as a personal trainer. Pat makes $50,000 in total annual revenue. Pat's only out- of-pocket costs are $12,000 per year for rent and utilities, $1,000 per year for advertising and $3,000 per year for equipment. Please enter your answers as whole numbers with no decimal places (ie. 5000 or $5000 not 5000.00 or "Five thousand dollars"). If you want to enter a negative number use a negative sign "-" and do not use parenthesis (ie. -2000 or -$2000 not (2000) or (-$2000)). What is Pat's accounting profit? What is Pat's economic profit? Did Pat make the right decision by becoming a personal trainer? (Yes or No)
