D. Basic Applications. Solve for the following problems: 1. Dean works as a manager in Jo's Hardware where he earns a monthly salary of P20,000. Also, he invested in a bond that has a face value P300,000 and earns at an annual simple interest rate of 5%. How much is Richard's gross earning in a year? 2. As a sales agent, Ashton has a basic monthly salary of P17,000 plus a commission of 15% of his total sales in a month. If his total sales was P25,000 last month, how much was his gross earnings? 3. A company allots P500,000 for the monthly salaries of its 10 newly hired employees and 20 senior employees. If each newly hired employee is paid P7,000 monthly, how much is the monthly salary of each senior employee? Assume that the senior employees have equal salaries.
D. Basic Applications. Solve for the following problems: 1. Dean works as a manager in Jo's Hardware where he earns a monthly salary of P20,000. Also, he invested in a bond that has a face value P300,000 and earns at an annual simple interest rate of 5%. How much is Richard's gross earning in a year? 2. As a sales agent, Ashton has a basic monthly salary of P17,000 plus a commission of 15% of his total sales in a month. If his total sales was P25,000 last month, how much was his gross earnings? 3. A company allots P500,000 for the monthly salaries of its 10 newly hired employees and 20 senior employees. If each newly hired employee is paid P7,000 monthly, how much is the monthly salary of each senior employee? Assume that the senior employees have equal salaries.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:D. Basic Applications. Solve for the following problems:
1. Dean works as a manager in Jo's Hardware where he earns a monthly salary of
P20,000. Also, he invested in a bond that has a face value P300,000 and earns at an
annual simple interest rate of 5%. How much is Richard's gross earning in a year?
2. As a sales agent, Ashton has a basic monthly salary of P17,000 plus a commission of
15% of his total sales in a month. If his total sales was P25,000 last month, how much
was his gross earnings?
3. A company allots P500,000 for the monthly salaries of its 10 newly hired employees
and 20 senior employees. If each newly hired employee is paid P7,000 monthly, how
much is the monthly salary of each senior employee? Assume that the senior
employees have equal salaries.
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