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Contemporary Business Mathematics with Canadian Applications 10th edition S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs - Solutions
Calculate the dollar and percent difference in each city relative to the national average by job description.
What might account for the salary differences among the four cities?
Solve each of the following. a. What percent more than 30 is 45? b. What percent less than $90 is $72? c. The amount of $240 is what percent more than $80? d. The amount of $110 is what percent less than $165? e. What percent less than $300 is $294?
Assuming that an employee works a 40-hour week, calculate the hourly rate of each job function by location.
Of FasDelivery’s 1200 employees, 2 1/4% did not report to work last Friday due to an outbreak of the flu. How many employees were absent?
A retail outlet is offered a discount of 2 1/2% for payment in cash of an invoice of $840. If it accepted the offer, how much was the cash payment?
The 13% harmonized sales tax on a pair of shoes amounted to $9.62. What was the total cost of the shoes?
Ms. Daisy pays 37 1/2% of her monthly gross salary as rent on a townhouse. If the monthly rent is $880, what is her monthly salary?
After a reduction of 33 1/3% of the marked price, a fan was sold for $64.46. What was the marked price?
A special purpose index has increased 125% during the past 10 years. If the index is now 279, what was the index 10 years ago?
After a cash discount of 5%, an invoice was settled by a payment of $646. What was the invoice amount?
Sales in May increased 16 2/3% over April sales. If May sales amounted to $24 535, what were April sales?
The working capital at the end of the third quarter was 75% higher than at the end of the second quarter. What was the amount of working capital at the end of the second quarter if the working capital at the end of the third quarter was $78 400?
After real estate fees of 8% had been deducted from the proceeds of a property sale, the vendor of the property received $88 090. What was the amount of the real estate fee?
A company’s employee compensation expense for August, consisting of the gross pay plus 4% vacation pay based on gross pay, was $23 400. How much was the amount of vacation pay expense?
A storekeeper bought merchandise for $1575. If she sells the merchandise at 33 1/2% above cost, how much gross profit does she make?
In Newfoundland, a car was sold for $16 385 including 13% HST. How much was the harmonized sales tax on the car?
The annual interest on a bond is 4 1/2% of its face value and amounts to $225. What is the face value of the bond?
A brokerage house charges a fee of 2 1/4%. If its fee on a stock purchase was $432, what was the amount of the purchase?
A bicycle shop reduced its selling price on a bicycle by 33 1/2%. If the regular selling price was $195, what was the reduced price?
From August 2013 to June 2016, the price of gasoline increased 13%. If the price in 2013 was $1.29 per liter, what was the price per liter in 2016?
A sales representative receives a commission of 16 2/3% on all sales. How much must 3 his weekly sales be so that he will make a commission of $720 per week?
HRH Collection Agency retains a collection fee of 25% of any amounts collected. How much did the agency collect on a bad debt if the agency forwarded $2490 to a client?
A commercial building is insured under a fire policy that has a face value of 80% of the building’s appraised value. The annual insurance premium is 3/8% of the face value of the policy and the premium for one year amounts to $675.(a) What is the face value of the policy?(b) What is the
A residential property is assessed for tax purposes at 40% of its market value. The residential property tax rate is 3 1/3% of the assessed value and the tax is $1200.(a) What is the assessed value of the property?(b) What is the market value of the property?
A merchant bought an article for $7.92. How much did the article sell for if he sold it at an increase of 83 1/3%?
How many U.S. dollars can you buy for C$750 if one Canadian dollar is worth US$1.0268?
How many Canadian dollars can you buy for US$750 if one Canadian dollar is worth US$1.0268?
Suppose the exchange rate was US$1.01 for each Canadian dollar. What is the price, in Canadian dollars, of a flight to Florida costing US$299?
What is the price of gasoline per liter in Canadian dollars if a U.S. gallon of gasoline costs US$3.74? One U.S. dollar is worth C$0.9739 and one U.S. gallon is equivalent to 3.8 liters.
Use Table 3.2 to make each of the following conversions. a. Convert US$350 to Canadian dollars. b. Convert C$200 to euros. c. Convert US$175 to Swiss francs. d. Convert 250 United Kingdom pounds to Japanese yen. e. Convert 550 euros to Canadian dollars.
Using 2011 as a base period, compute a simple price index for each of the following commodities. Interpret your results.
Using 2004 as the base period, compute a series of simple price indexes for the prices of gold and silver for the period 2004 to 2009, Interpret your results.
The Consumer Price Index for 2010 was 116.5 and for 2012 it was 121.7. (a) Determine the purchasing power of the dollar in 2010 and 2012 relative to the base year 2002. (b) Compute the purchasing power of the dollar in 2012 relative to 2010.
Kim’s annual incomes for 2005, 2007, and 2011 were $50 000, $60 000, and $65 000, respectively. Given that the Consumer Price Index for the three years was 107.0, 111.5, and 119.9, respectively, compute Kim’s real income for 2005, 2007, and 2011.
Tamara earned $74 000 in 2009. If the Consumer Price Index in 2009 was 114.4 and in 2012 was 121.7, what did Tamara have to earn in 2012 just to keep up with inflation?
The S&P/TSX Composite Index was $11 944.54 on January 6, 2010 and $9472.09 on January 6, 2009. Josh holds an investment portfolio representative of the stocks in the index. If the value of the portfolio on January 6, 2009, was $279 510, what was the value of the portfolio on January 6, 2010?
Victor calculated his 2012 taxable income to be $49 450. How much federal income tax should he report? Use the 2012 federal income tax brackets and rates in Table 3.3 to answer the question.
Sonja reported a taxable income of $86 300 on her 2012 income tax return. How much federal income tax should she report? Use the 2012 federal income tax brackets and rates in Table 3.3 to answer the question.
How much federal income tax should Aman report if she earned taxable income of $32 920 and $17 700 from her two jobs? Use the 2012 federal income tax brackets and rates in Table 3.3 to answer the question.
In early 2012, Mei Ling’s gross pay increased from $75 000 per year to $83 000 per year. (a) What was the annual percent increase in Mei Ling’s pay before federal income taxes? (b) What was the annual percent increase in Mei Ling’s pay after federal income taxes were deducted? Use the 2012
Solve each of the following systems of equations and check your solutions.(a). x + y = −9x − y = −7(b). x + 5y = 0x + 2y = 6(c). 5x + 2y = 747x − 2y = 46(d).
Solve each of the following systems of equations and check your solutions.(a). 4x + y = −13 x −5y = −19 (b). 6x + 3y = 24 2x + 9y = −8(c). 7x − 5y = −22 4x + 3y = 5(d). 8x + 9y =129 6x + 7y = 99(e). 12y = 5x =16 6x +10y - 54 = 0
Solve each of the following systems of equations.(a). 0.4x +1.5y =16.8 1.1x − 0.9y = 6.0(b). 6.5x + 3.5y =128 2.5x + 4.5y =106(c). 2.4x + 1.6y = 7.60 3.8x + 0.6y = 7.20(d). 2.25x + 0.75y = 2.25 1.25x +1.75y = 2.05(e). 3x/4 – 2y/3 = -13/6 4x/5 + 3y/4 = 123/10
a. What is the cost of borrowing if Amarjit borrows $28 500 and repays it over a four-year period?b. How many shares of each stock would he get if he used the $28 500 and invested equally in all four companies?c. Suppose Amarjit decided to buy shares in only TELUS and Goldcorp. How many shares of
Write the coordinates of the points A, B, C, D, E, F, G, and H marked in the diagram below.
Plot the given sets of points in a system of rectangular axes. (a) A(-4, -5), B(3, -2), C(-3, 5), D(0, -4), E(4, 1), F(-2, 0) (b) K(4, -2), L(-3, 2), M(0, 4), N(-2, -4), P(0, -5), Q(-3, 0)
Construct a table of values for each of the following equations as shown. (a) x = y - 2 for integral values of y from -3 to +5 (b) y = 2x - 1 for integral values of x from +3 to -2 (c) y = 2x for integral values of x from +3 to -3 (d) x = -y for integral values of y from +5 to -5
Using algebra, find the slope and y-intercept of the lines represented by each of the following equations.(a) 4x + 5y = 11(b) 2y – 5x = 10(c). 1 – ½ y = 2x(d) 3y + 6 = 0(e). √ (2x – y) = 3(f) 0.15x + 0.3y – 0.12 = 0(g) 2 – ½ x = 0(h) (x - 2) (y + 1) – xy = 2
Graph each of the following equations.a. x – y = 3b. x + 2y = 4c. y = -xd. x = 2ye. 3x – 4y = 12
Graph each of the following equations for all of the values of x indicated.a. y = 3x + 20 for x = 0 to x = 40b. y = - 2/5 x + 40 for x = 0 to x = 100 c. 3x + 4y = 1200 for x = 0 to x = 400d. 3y - 12x - 2400 = 0 for x = 0 to x = 300
Solve each of the following linear systems graphically.a. x + y = 4 and x - y = -4b. x - y = 3 and x + y = 5c. x = 2y - 1 and y = 4 - 3xd. 2x + 3y = 10 and 3x - 4y = -2 e. 3x - 4y = 18 and 2y = -3x
Graph each of the following systems of equations for all values of x indicated.a. y - 4x = 0 and y - 2x - 10 000 = 0 for x = 0 to x = 10 000b. 4x + 2y = 200 for x = 0 to x = 50 and x + 2y = 80 for x = 0 to x = 80c. 3x + 3y = 2400 and x = 500 for x = 0 to x = 800d. 2y = 5x and y = 5000 for x = 0 to
Mega Brands (TSX:MB) is a Canadian toy manufacturing company based in Montreal, Quebec. It employs more than 1000 people (over half of its global work- force) at its Montreal facility. It also operates manufacturing plants in China and in Tennessee. Recently, Mega Brands embarked on a three-year
A manufacturer makes two types of products. Profit on Product A is $30 per unit, while profit on Product B is $40 per unit. Budgeted monthly profit is $6000.Set up an equation that describes the relationship between the two variables in following. Graph that relationship.
Nakia Company manufactures two products. Product 1 requires three hours of machine time per unit, while Product 2 requires four hours of machine time per unit. There are 120 hours of machine time available per week. Set up an equation that describes the relationship between the two variables in
U-Save-Bucks tax consulting service rents space at $200 per week and pays the accounting personnel $4 per completed tax return. Set up an equation that describes the relationship between the two variables in following. Graph that relationship.
Raimi is offered a position as a sales representative. The job pays a salary of $500 per month plus a commission of 10% on all sales. Set up an equation that describes the relationship between the two variables in following. Graph that relationship.
Career Printers Ltd. has two locations with a total of 24 employees. If twice the number of employees at the larger location is three more than three times the number of employees at the smaller location, how many employees are at each location?Set up a system of simultaneous equations to solve the
The local amateur football club spent $675 on tickets to a professional football game. If the club bought three fewer 15-dollar tickets than four-fifths the number of 12-dollar tickets, how many tickets of each did the club buy? Set up a system of simultaneous equations to solve the problems.
A restaurant is offering two dinner specials. The difference between seven times the orders for the first special and four times the orders for the second special is 12. The sum of three-fourths of the orders for the first special and two-thirds of the orders for the second special is 21. Find the
Loblaws sells two brands of jam. Brand X sells for $2.25 per jar, while the No-Name brand sells for $1.75 per jar. If 140 jars were sold for a total of $290, how many jars of each brand were sold?Set up a system of simultaneous equations to solve the problems.
Nancy’s sales last week were $140 less than three times Andrea’s sales. Together they sold $940. Determine how much each person sold last week. Set up a system of simultaneous equations to solve the problems.
Kaya and Fred agree to form a partnership. The partnership agreement requires that Fred invest $2500 more than two-thirds of what Kaya is to invest. If the total investment in the partnership is to be $55 000, how much should each partner invest? Set up a system of simultaneous equations to solve
A Brush with Wood has been producing 2320 chairs a day working two shifts. The second shift has produced 60 chairs less than four-thirds of the number of chairs produced by the first shift. Determine the number of chairs each shift has produced. Set up a system of simultaneous equations to solve
An inventory of two types of floodlights showed a total of 60 lights valued at $2580. If Type A cost $40 each and Type B cost $50 each, how many of each type of flood- light were in inventory?Set up a system of simultaneous equations to solve the problems.
A machine requires four hours to make a unit of Product A and three hours to make a unit of Product B. Last month the machine operated for 200 hours, producing a total of 60 units. How many units of each type of product did it produce? Set up a system of simultaneous equations to solve the problems.
Marysia has saved $85.75 in quarters and loonies. If she has one quarter more than three-fourths the number of loonies, how many coins of each type does Marysia have?Set up a system of simultaneous equations to solve the problems.
Recognizing the importance of planning for their future, Sean and Karen sat down to determine their net worth. They compiled a list of the assets and liabilities each one of them is bringing into the marriage.Then they identified their monthly income and debts as follows:a. Net worth is calculated
Using algebra, find the slope and y-intercept of the line represented by each of the following equations.(a) 7x + 3y = 6(b) 10y = 5x(c) (2y – 3x)/2 = 4(d) 1.8x + 0.3y – 3 = 0(e) 1/3x = -2(f) 11x -33y = 99(g) xy – (x + 4) (y – 1) = 8(h) 2.5y – 12.5 = 0
Graph each of the following.(a) 2x – y = 6(b) 3x + 4y = 0(c) 5x + 2y = 10(d) y = -3(e) 5y = −3x +15(f) 5x – 4y = 0(g) x = -2(h) 3y = −4x −12
Graphically solve each of the following.(a) 3x + y = 6 and x − y = 2(b) x + 4y = −8 and 3x + 4y = 0(c) 5x = 3y and y = −5(d) 2x + 6y = 8 and x = −2(e) y = 3x − 2 and y = 3(f) y = −2x and x = 4(g) x = −2 and 3x + 4y =12(h) y = −2 and 5x + 3y =15
Solve each of the following systems of equations. (a) 3x + 2y = −1 5x + 3y = −2 (b) 4x −5y = 25 3x + 2y =13 (c) y = -10x 3y = 29 – x (d) 2y = 3x + 17 3x = 11 – 5y (e) 2x −3y =13 3x − 2y =12 (f) 2x = 3y -11 y =13+ 3x (g) 2a = -3b -14 = 0 a + b – 2 = 0 (h) a + c = - 10 8a + 4c = 0 (i)
Write an equation describing the relation- ship between the two variables in each of the following problems and graph the relationship. (a) Sun & Ski Travel pays for radio advertising at the fixed rate of $1000 per week plus $75 per announcement during the week. (b) The Kirkland Company markets two
Set up a system of equations to solve each of the following problems.(a) A tire store sold two types of tires, a sports tire and an all-season tire. The sum of six times the sports tire and five times the all-season tire is 93, and the difference between three- quarters of the sports tire and
Using algebra, find the slope and y-intercept of the line represented by each of the following equations.(a) 4y + 11 = y(b) 2/3 x – 1/9 y = 1(c) x + 3y = 0(d) -6y – 18 = 0(e) 13 – ½ x = 0(f) ax + by = c
Graphically solve each of the following systems of equations. (a) y = -x - 2 and x - y = 4(b) 3x = -2y and x = 2
Graph each of the following systems of equations for all values of x indicated.(a) –x = -55 + y and y = 30 for x = 0 to x = 200(b) x = 125 and 3x + 2y = 600; for x = 0 to x = 200
Solve each of the following systems of equations. (a) 6x + 5y = 9 4x – 3y = 25 (b) 12 – 7x = 4y 6 – 2y = 3x (c) 0.2a + 0.3b = 0 0.7a – 0.2b = 250 (d) 4/3 b – 3/5 c = -17/3 5/6 b + 4/9 c = 5/9
Erica Lottsbriner invests $12 000 so that part of her investment earns interest at 4% per annum and part earns 6% per annum. If the total annual interest on the investment is $560, how much has Erica invested at each rate?
Eyad and Rahia divide a profit of $12 700. If Eyad is to receive $2200 more than two fifth fo Rahia’s share, how much will Rahia receive?
Terry invested a total of $4500. A portion was invested at 4% and the rest was invested at 6%. The amount of Terry’s annual return on each portion is the same. Find the average rate of interest Terry earned on the $4500.
In September, Polar Bay Wines had net revenue of $574.56 from the sale of 3216 new wine bottles less the refund paid for 1824 returned bottles. In October, net revenue was $944.88 from the sale of 5208 bottles less the refund paid on 2232 returned bottles. How much did Polar Bay Wines charge per
Ezhno, the owner of AAA College Painting, pays wages totaling $29 760 for a 40-hour workweek to a crew consisting of 16 painters and 24 helpers. To keep their jobs, the painters accepted a wage cut of 10% and the helpers a wage cut of 8%. The wage cut reduces Ezhno’s weekly payroll by $2688. What
Engineering estimates show that the variable cost of manufacturing a new product will be $35 per unit. Based on market research, the selling price of the product is to be $120 per unit and variable selling expense is expected to be $15 per unit. The fixed costs applicable to the new product are
Melinda and Morris sell soft drinks at basketball tournaments. They charge $2 per can. The cost to purchase the soft drinks is $0.60 per can. They estimate that they can sell at least 200 cans at each game. (a) To break even, what is the most that they can pay in fixed costs? (b) If they sell 300
Woody Woodworks makes and sells cedar planter boxes, charging $35 for each box. Woody had purchased tools costing $756 to make the planter boxes. Wood and other supplies cost $8 per box if the boxes are unfinished. An additional amount for supplies would be spent if the boxes were painted. (a) To
Little Hands Daycare charges $40 per day per child. Fixed expenses include $120 per day for wages and $300 per day for space rental and insurance. The daycare can take in up to 20 children each day and is expected to be full. (a) To break even, what is the most that can be spent on supplies per
Tara makes and sells scarves for children and adults. She is able to sell the scarves for $18 per unit. Materials for the scarves cost $4 each. She has fixed costs per month of $280, and estimates that she can make and sell 80 scarves each month. How many scarves does Tara need to sell to break
Bargain Toys has just acquired the rights to merchandise the latest video game. It can purchase these games for $16. If Bargain Toys advertises the games at a cost of $630 per month, and sells them for $30 each, how many games does it need to sell each month to break even?
Old-Tyme Fashions specializes in hats modeled after fashions from the past. It purchases these hats for $ 42 each. It can provide a custom service to print the new owner’s name on the hatband. The printing machine costs $243 per month to rent. If Old-Tyme sells the hats at a price of $69 each,
The neighborhood bookstore sells novels for $6.95 per unit. The cost to purchase one book is $3.95. The store has fixed costs per month of $1800. The store estimates that it can sell 1000 books every month. How many books does it need to sell to break even?
A firm manufactures a product that sells for $12 per unit. Variable cost per unit is $8 and fixed cost per period is $1200. Capacity per period is 1000 units. For each of the following, perform a break-even analysis showing (a) An algebraic statement of (i) The revenue function, (ii) The cost
The following data pertain to the operating budget of Matt Manufacturing. Capacity per period is sales of $800 000.For each of the following, perform a break-even analysis showing (a) An algebraic statement of (i) The revenue function, (ii) The cost function; (b) Computation of the break-even
Harrow Seed and Fertilizer compiled the following estimates for its operations. Capacity per period is sales of $150 000.For each of the following, perform a break-even analysis showing (a) An algebraic statement of (i) The revenue function, (ii) The cost function; (b) Computation of the break-even
The operating budget for Packard Machinery Company shows a net income of $469 300. To achieve this, the company is targeting sales of $740 000, variable costs of $259 000, and fixed costs of $11 700. Based on this information, what is the total revenue at the break-even point?
The Scarlet Letter bookstore has $85 000 of sales, variable costs of $36 550, and fixed costs of $27 360. What would its sales have to be to break even?
Parma is considering the expansion of her picture-framing business to include the printing of oversize pictures. She would need to lease equipment, at a cost of $417 per month. To process the pictures, she estimates that she would have sup- plies expenses of $3 per picture. If she can sell 60
Jay and his friends have set up a baseball tournament. He can rent a baseball field for a daily charge of $200 and equipment for $150 per day. If he hires independent umpires, he would need to pay $280 for the day. He would arrange to have caps made for each player at a cost of $4 each. If John can
John wants to earn money this summer by maintaining gardens and lawns. He would have variable costs for each job of $2 for supplies. To be competitive, he can charge $22 per job, and would be able to maintain at least 80 jobs. (a) To break even, what is the most he could pay for equipment? (b) If
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