A road building contractor has received a major highway construction contract that will require 60,000 m3 of crushed stone each year for 5 years. The stone can be obtained from a quarry for $7.8/m3. As an alternative, the contractor has decided to try to buy the quarry. He believes that if he owned the quarry, the stone would cost him only $6.30/m3. He thinks he could resell the quarry at the end of 5 years for $300,000. If the contractor uses a 10% interest rate, how much would he be willing to pay for the quarry?
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
A road building contractor has received a major highway construction contract that will require 60,000 m3 of crushed stone each year for 5 years. The stone can be obtained from a quarry for $7.8/m3. As an alternative, the contractor has decided to try to buy the quarry. He believes that if he owned the quarry, the stone would cost him only $6.30/m3. He thinks he could resell the quarry at the end of 5 years for $300,000. If the contractor uses a 10% interest rate, how much would he be willing to pay for the quarry?
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