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Question 5 of 8 An engineering firm is owned by three partners (Alan, Barbara, and Chuck), with 4,000, 3,000, and 2,000 shares respectively. The company's net income for the year is $4,500,000 and 14% of that income has been set aside as a performance bonus. The bonus will be allocated as follows: $60,000 to be distributed amongst all staff, excluding the partners. Each partner will get $100,000. The remainder is to be divided among the partners in proportion to the number of shares held. What was the total amount of bonus received by each partner? Alan: Barbara: Chuck:

Question 5 of 8 An engineering firm is owned by three partners (Alan, Barbara, and Chuck), with 4,000, 3,000, and 2,000 shares respectively. The company's net income for the year is $4,500,000 and 14% of that income has been set aside as a performance bonus. The bonus will be allocated as follows: $60,000 to be distributed amongst all staff, excluding the partners. Each partner will get $100,000. The remainder is to be divided among the partners in proportion to the number of shares held. What was the total amount of bonus received by each partner? Alan: Barbara: Chuck:

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.2: Exponential Functions
Problem 54E
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Question 5 of 8 An engineering firm is owned by three partners (Alan, Barbara, and Chuck), with 4,000, 3,000, and 2,000 shares respectively. The company's net income for the year is $4,500,000 and 14% of that income has been set aside as a performance bonus. The bonus will be allocated as follows: $60,000 to be distributed amongst all staff, excluding the partners. Each partner will get $100,000. The remainder is to be divided among the partners in proportion to the number of shares held. What was the total amount of bonus received by each partner? Alan: Barbara: Chuck: Round to the nearest cent
Transcribed Image Text:Question 5 of 8 An engineering firm is owned by three partners (Alan, Barbara, and Chuck), with 4,000, 3,000, and 2,000 shares respectively. The company's net income for the year is $4,500,000 and 14% of that income has been set aside as a performance bonus. The bonus will be allocated as follows: $60,000 to be distributed amongst all staff, excluding the partners. Each partner will get $100,000. The remainder is to be divided among the partners in proportion to the number of shares held. What was the total amount of bonus received by each partner? Alan: Barbara: Chuck: Round to the nearest cent
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