Example 20. The monthly salary of a person was Rs. 320 for each of the firstthree years. He next goi annual increments of Rs. 40 per month for each of thefollowing successive 12 years. His Salary remained stationary till retirement whenhe found that his average monthly salary during the service period was Rs. 698.Find the period of his service.

Answered: Image /qna-images/answer/1ea58bb7-ea26-4b45-b6b7-ebca9866ac4b.jpg

Answered: Example 20. The monthly salary of a…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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You are the accountant for a company that owns a chain of 18 fast food restaurants in a state which adjusts the minimum wage for inflation. Each restaurant employs 45 workers, each averaging 20 hours per week at the current federal minimum wage, $7.25 per hour.(a)How many hours at minimum wage are paid out each week by the company?hr(b)At the current rate of $7.25 per hour, what is the amount (in $) of the weekly "minimum wage" portion of the restaurant's payroll?$ (c)If the inflation rate this year is 0.7%, calculate the "adjusted" minimum wage rate (in $ per hour) to be paid next year. (Round your answer to two decimal places.)$ per hour(d)How much in "additional wages" will the company have to pay out next year at the adjusted rate (in $)? (Round your answer to the nearest dollar.)$ (e)Suggest some ways that the restaurant chain or other small businesses can offset the increase in payroll and subsequent decrease in profit as a result of the minimum wage hike.
Enrollment at my college is increasing at a rate of 42% per decade. What is the yearly percentage increase?
3% during each of the past 6 years and that a member of COLAS Suppose the cost-of-living index had increased by the EUW Union had been guaranteed an annual increase 3% during each of the past 6 years and that a member e equal to 2% above the increase in the cost-of-living index over that period. What would be the present salary of a union member whose salary 6 years ago was $42,000?
I NEED TO KNOW HOW TO BREAK DOWN A SALARY OF 47,840 INTO A MONTHLY INCOME WITH 1/4 OF THE INCOME BEING DEDUCTED FOR VARIOUS TAXES.
Suppose that you have 5000$ in your bank account and each month you withdraw 14% of the money left in the account. How long will it take for there to be 1000$ left in the bank account?
What annual rate of simple interest is necessary to give interest of $416 on a principal of $800 invested for 8 years?
f. Now suppose that Lynn contributes nothing to her retirement fund for eight years and then begins contributing $3,000 annually until age 60. How much of her salary would she have contributed to this retirement plan and how much money could she expect to have accumulated at age 60? f?

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