Those questions are related to Financial Mathematics: Mario’s regular pay is $23.00 per hour. The regular...

90.2K

Verified Solution

Question

Finance

Those questions are related to Financial Mathematics:
Mario’s regular pay is $23.00 per hour. The regular workweek is40 hours, and overtime is paid at time-and-a-half the regularhourly rate. If Mario worked 46.5 hours last week, what were hisgross earnings?
You are buying a pack of milk (priced at 3.49CAD) and papertowels (priced at 6.99CAD) in a grocery store in Ontario. Onlypaper towels are subject to HST in Ontario. How much would be yourtotal bill at the grocery store?
The CPI was 125.2 for 2014. Determine the purchasing power ofthe Canadian dollar for the 2014 and interpret the meaning of theresult.
Calculate the net price of an item, worth $5,000, after threetrade discounts of 20%, 10%, and 5%.
Calculate the amount of interest on $1560 earning 7% p.a.,starting on October 1, 2018, for the next 10 months.
On January 15, Sheridan Service received a shipment with aninvoice dated January 14, terms 4/10 E.O.M., for $2592. On February9, Sheridan Service mailed a cheque for $1392 in partial payment ofthe invoice. By how much did Sheridan Service reduce its debt?
Compute the face value of a 90-day promissory note datedOctober 22, 2018 that has a maturity value of $76,386.99 and aninterest rate of 7.5% p.a.
Scheduled payments of $1010 due five months ago and $1280 duetoday are to be repaid by a payment of $615 in four months andbalance in seven months. If money is worth 7.75% p.a. and the focaldate is in seven months, what is the amount of the final payment?(Hint: Set the size the final payment be $x. Set up an equality ofamount which supposed to be payed due today and the repaidamount.)

Answer & Explanation Solved by verified expert

3.9 Ratings (493 Votes)

1 Regular pay P 23 per hour overtime pay OT 15P 1523 345 per hour Number of hours worked N 465 hours regular work hours H 40 hours so overtime hours OH N H 465 40 65 hours Total gross earnings See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

Transcribed Image Text

Those questions are related to Financial Mathematics:Mario’s regular pay is $23.00 per hour. The regular workweek is40 hours, and overtime is paid at time-and-a-half the regularhourly rate. If Mario worked 46.5 hours last week, what were hisgross earnings?You are buying a pack of milk (priced at 3.49CAD) and papertowels (priced at 6.99CAD) in a grocery store in Ontario. Onlypaper towels are subject to HST in Ontario. How much would be yourtotal bill at the grocery store?The CPI was 125.2 for 2014. Determine the purchasing power ofthe Canadian dollar for the 2014 and interpret the meaning of theresult.Calculate the net price of an item, worth $5,000, after threetrade discounts of 20%, 10%, and 5%.Calculate the amount of interest on $1560 earning 7% p.a.,starting on October 1, 2018, for the next 10 months.On January 15, Sheridan Service received a shipment with aninvoice dated January 14, terms 4/10 E.O.M., for $2592. On February9, Sheridan Service mailed a cheque for $1392 in partial payment ofthe invoice. By how much did Sheridan Service reduce its debt?Compute the face value of a 90-day promissory note datedOctober 22, 2018 that has a maturity value of $76,386.99 and aninterest rate of 7.5% p.a.Scheduled payments of $1010 due five months ago and $1280 duetoday are to be repaid by a payment of $615 in four months andbalance in seven months. If money is worth 7.75% p.a. and the focaldate is in seven months, what is the amount of the final payment?(Hint: Set the size the final payment be $x. Set up an equality ofamount which supposed to be payed due today and the repaidamount.)