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.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:1. 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.
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