Shamrock's Sports Store has a customer loyalty program in which it issues points to customers for every cash purchase that can be applied to future purchases. For every dollar spent, a customer receives three points. Each point is worth one cent. There is no expiry date on the points. Shamrock's estimates that 31% of the points issued will eventually be redeemed. Shamrock's has a December 31 year end. The program was started in 2023. During 2023, 1.032,000 points were issued. Sales for 2023 were $344,000. In 2024, 1,416,000 points were issued. Total sales for 2024 were $472,000. (a) What is the stand-alone value of the points issued in 2023? In 2024? 2023 2024 $ S
Shamrock's Sports Store has a customer loyalty program in which it issues points to customers for every cash purchase that can be applied to future purchases. For every dollar spent, a customer receives three points. Each point is worth one cent. There is no expiry date on the points. Shamrock's estimates that 31% of the points issued will eventually be redeemed. Shamrock's has a December 31 year end. The program was started in 2023. During 2023, 1.032,000 points were issued. Sales for 2023 were $344,000. In 2024, 1,416,000 points were issued. Total sales for 2024 were $472,000. (a) What is the stand-alone value of the points issued in 2023? In 2024? 2023 2024 $ S
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:Shamrock's Sports Store has a customer loyalty program in which it issues points to customers for every cash purchase that can be
applied to future purchases. For every dollar spent, a customer receives three points. Each point is worth one cent. There is no expiry
date on the points. Shamrock's estimates that 31% of the points issued will eventually be redeemed. Shamrock's has a December 31
year end.
The program was started in 2023. During 2023, 1,032,000 points were issued. Sales for 2023 were $344,000. In 2024, 1,416,000
points were issued. Total sales for 2024 were $472,000.
(a)
What is the stand-alone value of the points issued in 2023? In 2024?
2023
2024
$
S
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