You run a school in Florida. Fixed monthly cost is $5,128.00 for rent and utilities, $5,990.00 is spent in salaries and $1,478.00 in insurance. Also every student adds up to $102.00 per month in stationary, food etc. You charge $708.00 per month from every student now. You are considering moving the school to another neighborhood where the rent and utilities will increase to $10,370.00, salaries to $6,095.00 and insurance to $2,136.00 per month. Variable cost per student will increase up to $171.00 per month. However you can charge $1,193.00 per student. You want to determine in percent the new charge compared to the previous charge. To calculate this, divide the new charge per student by the previous charge per student, keep in a decimal form and round to 3 decimal points. Submit Answer format: Number: Round to: 3 decimal places.

You run a school in Florida. Fixed monthly cost is $5,128.00 for rent and utilities, $5,990.00 is spent in salaries and $1,478.00 in insurance. Also every student adds up to $102.00 per month in stationary, food etc. You charge $708.00 per month from every student now. You are considering moving the school to another neighborhood where the rent and utilities will increase to $10,370.00, salaries to $6,095.00 and insurance to $2,136.00 per month. Variable cost per student will increase up to $171.00 per month. However you can charge $1,193.00 per student. You want to determine in percent the new charge compared to the previous charge. To calculate this, divide the new charge per student by the previous charge per student, keep in a decimal form and round to 3 decimal points. Submit Answer format: Number: Round to: 3 decimal places.

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter9: Obtaining Affordable Housing

Section: Chapter Questions

Problem 1DTM

See similar textbooks

Similar questions

You run a school in Florida. Fixed monthly cost is $5,220.00 for rent and utilities, $5,974.00 is spent in salaries and $1,762.00 in insurance. Also every student adds up to $102.00 per month in stationary, food etc. You charge $612.00 per month from every student now. You are considering moving the school to another neighborhood where the rent and utilities will increase to $10,325.00, salaries to $6,544.00 and insurance to $2,172.00 per month. Variable cost per student will increase up to $157.00 per month. However you can charge $1,180.00 per student. At what point will you be indifferent between your current of operation and the new option? PLEASE SHOW EASIEST MOST SIMPLE WAY TO FIND THE ANSWER
1. You run a school in Florida. Fixed monthly cost is $5,764.00 for rent and utilities, $5,522.00 is spent in salaries and $1,525.00 in insurance. Also every student adds up to $103.00 per month in stationary, food etc. You charge $652.00 per month from every student now. You are considering moving the school to another neighborhood where the rent and utilities will increase to $10,802.00, salaries to $6,041.00 and insurance to $2,231.00 per month. Variable cost per student will increase up to $188.00 per month. However you can charge $1,165.00 per student. How much do you currently charge per student? 2.You run a school in Florida. Fixed monthly cost is $5,674.00 for rent and utilities, $5,963.00 is spent in salaries and $1,605.00 in insurance. Also every student adds up to $94.00 per month in stationary, food etc. You charge $632.00 per month from every student now. You are considering moving the school to another neighborhood where the rent and utilities will increase to $10,116.00,…
Hannah Byers and Kathleen Taylor are considering the possibility of teaching swimming to kids during the summer. A local swim club opens its pool at noon each day, so it is available to rent during the morning. The cost of renting the pool during the10-week period for which Hannah and Kathleen would need it is $1,700. The pool would also charge Hannah and Kathleen an admission, towel service, and life guarding fee of $7 per pupil, and Hannah and Kathleen estimate an additional $5 cost per student to hire several assistants. Hannah and Kathleen plan to charge $75 per student for the 10-week swimming class. a. How many pupils do Hannah and Kathleen need to enroll in their class to break even? b. If Hannah and Kathleen want to make a profit of $5,000 for the summer, how many pupils do they need to enroll? c. Hannah and Kathleen estimate that they might not be able to enroll more than 60 pupils. If they enroll this many pupils, how much would they need to charge per pupil in order to…
Suppose your expenses for this term are as follows: tuition: $12,000, room and board: $6,500, books and other educational supplies: $1,500. Further, during the term, you can only work part-time and earn $3,500 instead of your full-time salary of $14,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college? $13,500 $20,000 $24,000 $30,500
Suppose your expenses for summer school are as follows: tuition: $5,000, room and board: $3,000, books and other educational supplies: $500. Further, during the term, you can only work part-time and earn $4,000 instead of your full-time salary of $10,000. What is the opportunity cost of going to college this term?
A school is saving to buy a new $12000 printer in 3 years, with the local bank paying 6% annually. How much needs to be deposited each month to have the needed amount? Compare your answer to the piggy bank method of saving.
A father is now planning a savings program to put his daughter through college. She is 13, plans to enroll at the university in 5 years, and she should graduate 4 years later. Currently, the annual cost (for everything - food, clothing, tuition, books, transportation, and so forth) is $19,000, but these costs are expected to increase by 6% annually. The college requires total payment at the start of the year. She now has $8,500 in a college savings account that pays 8% annually. Her father will make six equal annual deposits into her account; the first deposit today and sixth on the day she starts college. How large must each of the six payments be? Do not round intermediate calculations. Round your answer to the nearest dollar. (Hint: Calculate the cost (inflated at 6%) for each year of college and find the total present value of those costs, discounted at 8%, as of the day she enters college. Then find the compounded value of her initial $8,500 on that same day. The difference…
Suppose that you earned a bachelorʹs degree and now youʹre teaching middle school. The school district offers teachers the opportunity to take a year off to earn a masterʹs degree. To achieve this goal, you deposit $1500 at the end of every three months in an annuity that pays 5.5% compounded quarterly. How much will you have saved at the end of 6 years? Find the interest.
A father is now planning a savings program to put his daughter through college. She is 13, plans to enroll at the university in 5 years, and she should graduate 4 years later. Currently, the annual cost (for everything - food, clothing, tuition, books, transportation, and so forth) is $15,000, but these costs are expected to increase by 6% annually. The college requires total payment at the start of the year. She now has $9,000 in a college savings account that pays 8% annually. Her father will make six equal annual deposits into her account; the first deposit today and sixth on the day she starts college. How large must each of the six payments be? (Hint: Calculate the cost (inflated at 6%) for each year of college and find the total present value of those costs, discounted at 8%, as of the day she enters college. Then find the compounded value of her initial $9,000 on that same day. The difference between the PV of costs and the amount that would be in the savings account must be…
A school is saving to buy a new $12000 printer in 3 years, with the local bank paying 6% annually. How much needs to be deposited each month to have the needed amount? Compare your answer to the piggy bank method of saving. SHOW ALL WORK TO RECEIVE POINTS!
You're a graduate and the company that hires you offers a job that includes a paid apartment in Austin. You only need to pay for services and maintenance. You go ahead and make calculations and come up that each year you need to pay $36,000 to cover all expenses. Each year it sums up to $36,500 and every consequent year increasing by $500 through year 10. At an interest rate of 10% per year, the present worth of the maintenance costs are going to be how much?
you live in the mobile home for four years, but your roommate also pays you $3,000 a year, paid to you at the beginning of each year. The cost of the mobile home is $15,000, paid immediately. At the end of four years, you can sell the mobile home for $9,000. You have no maintenance on the home because you were such a smart manager. Using Future Value, what is the cost of your college housing, assuming the 8% interest rate?