A contractor can purchase a dump truck forP850,000. It is estimated that if sold at the endof 7 years it wil have a value of P100,000. Itsestimated annual maintainance cost is P12,000and daily operating expenses are estimated tobe P320, including the wage of the driver. It isalso possible to hire a similar unit for P1,200 aday including fuel cost. If money is worth 10%,how many days a year the dump truck to beused to justify the purchase of the truck?

It is estimated that if the truck is sold at the end of 7 years, it will have a value of…

Answered: A contractor can purchase a dump truck…

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Similar questions

Harrison has received a job offer from a large investment bank as a clerk to an associate banker. His base salary will be $55,000. He will receive his first annual salary payment one year from the day he begins to work. In addition, he will get an immediate $10,000 bonus for joining the company. His salary will grow at 3.5 percent each year. Each year he will receive a bonus equal to 10 percent of his salary. Harrison is expected to work for 25 years. What is the PV of the offer if the discount rate is 9 percent?
The city of Possibility has a budget of $750,000. Next year, the budget will increase by 3.8% What will the city's budget be next year?
Banks will often loan businesses large sums of money for short periods of time. If a companyneeds a $2000000 loan for 3 days, how much interest would it owe if interest is calculated at 12%per year, simple interest?
Suppose you owe $18,000 on a credit card that carries an APR of 24%. Because the balance is so high, you choose to stop charging and pay off the card. You can afford to make only the minimum monthly payment, which is 5% of the balance. Then your balance after t months is given by B = 18,000(1.02 ✕ 0.95)t dollars. How many payments will you have to make to get the balance below $100?
During 2022, Betty Simmons purchased 275 shares of common stock Issued by Doctor's Medical Supply for $9700 Including commission. Later in the same year,Betty sold the shares for $10,300 after commission. Calculate the following. (Round all answers to two decimal places.)1. Profit on this stock transaction:2. Percentage return on investment:
A store shows a net profit of $65,250 for the year. If the store profit increases by 3.75% per year for the next 15 years what will the net profit be at that point?
Ruby is 25 and has a good job at a biotechnology company. She currently has $11,000 in an IRA, an important part of her retirement nest egg. She believes her IRA will grow at an annual rate of 9 percent, and she plans to leave it untouched until she retires at age 65. Ruby estimates that she will need $875,000 in her total retirement nest egg by the time she is 65 in order to have retirement income of $20,000 a year (she expects that Social Security will pay her an additional $15,000 a year).
Your credit card has a balance of $4200 and an annual interest rate of 13%. You decide to pay off the balance over four years. If there are no further purchases charged to the card, you must pay $112.70 each month, and you will pay a total interest of $1209.60. Assume you decide to pay off the balance over one year rather than four. How much more must you pay each month and how much less will you pay in total interest? A. You will pay $__ more each month. B. You will pay $__ less each month.
A certain vehicle loses 10.4% of its value each year. If the vehicle has an initial value of $20800, construct a model that represents the value of the vehicle after a certain number of years. Use your model to compute the value of the vehicle at the end of 9 years.(Express your answer in dollars rounded correctly to the nearest cent.) $

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