Four partners (Adams, Benson, Cagle, and Duncan) jointly own a piece of land with a market value of $400,000. Suppose that the land is subdivided into four parcels s 1 , s 2 , s 3 , and s 4 . The partners are planning to split up, with each partner getting one of the four parcels. a. To Adams, s 1 is worth $40,000 more than s 2 , s 2 and s 3 are equal in value, and s 4 is worth $20,000 more than s 1 . Determine which of the four parcels are fair shares to Adams. b. To Benson, s 1 is worth $40,000 more than s 2 , s 4 is worth $8,000 more than s 3 , and together s 4 and s 3 have a combined value equal to 40% of the value of the land. Determine which of the four parcels are fair shares to Benson. c. To Cagle, s 1 is worth $40,000 more than s 2 and $20,000 more than s 4 , and s 3 is worth twice as much as s 4 . Determine which of the four parcels are fair shares to Cagle. d. To Duncan, s 1 is worth $4,000 more than s 2 ; s 2 and s 3 have equal value; and s 1 , s 2 , and s 3 have a combined value equal to 70% of the value of the land. Determine which of the four parcels are fair shares to Duncan. e. Find a fair division of the land using the parcels s 1 , s 2 , s 3 , and s 4 as fair shares.
Four partners (Adams, Benson, Cagle, and Duncan) jointly own a piece of land with a market value of $400,000. Suppose that the land is subdivided into four parcels s 1 , s 2 , s 3 , and s 4 . The partners are planning to split up, with each partner getting one of the four parcels. a. To Adams, s 1 is worth $40,000 more than s 2 , s 2 and s 3 are equal in value, and s 4 is worth $20,000 more than s 1 . Determine which of the four parcels are fair shares to Adams. b. To Benson, s 1 is worth $40,000 more than s 2 , s 4 is worth $8,000 more than s 3 , and together s 4 and s 3 have a combined value equal to 40% of the value of the land. Determine which of the four parcels are fair shares to Benson. c. To Cagle, s 1 is worth $40,000 more than s 2 and $20,000 more than s 4 , and s 3 is worth twice as much as s 4 . Determine which of the four parcels are fair shares to Cagle. d. To Duncan, s 1 is worth $4,000 more than s 2 ; s 2 and s 3 have equal value; and s 1 , s 2 , and s 3 have a combined value equal to 70% of the value of the land. Determine which of the four parcels are fair shares to Duncan. e. Find a fair division of the land using the parcels s 1 , s 2 , s 3 , and s 4 as fair shares.
Four partners (Adams, Benson, Cagle, and Duncan) jointly own a piece of land with a market value of $400,000. Suppose that the land is subdivided into four parcels
s
1
,
s
2
,
s
3
, and
s
4
. The partners are planning to split up, with each partner getting one of the four parcels.
a. To Adams,
s
1
is worth $40,000 more than
s
2
,
s
2
and
s
3
are equal in value, and
s
4
is worth $20,000 more than
s
1
. Determine which of the four parcels are fair shares to Adams.
b. To Benson,
s
1
is worth $40,000 more than
s
2
,
s
4
is worth $8,000 more than
s
3
, and together
s
4
and
s
3
have a combined value equal to 40% of the value of the land. Determine which of the four parcels are fair shares to Benson.
c. To Cagle,
s
1
is worth $40,000 more than
s
2
and $20,000 more than
s
4
, and
s
3
is worth twice as much as
s
4
. Determine which of the four parcels are fair shares to Cagle.
d. To Duncan,
s
1
is worth $4,000 more than
s
2
;
s
2
and
s
3
have equal value; and
s
1
,
s
2
, and
s
3
have a combined value equal to 70% of the value of the land. Determine which of the four parcels are fair shares to Duncan.
e. Find a fair division of the land using the parcels
s
1
,
s
2
,
s
3
, and
s
4
as fair shares.
Suppose the chamber of commerce in Pinehurst, North Carolina decided to hold a professional golf tournament at the famous Pinehurst Country Club. They would probably be able to get a TV contract from a major network. The TV revenue would be about $4 million, and they would sell 60,000 tickets at $8 apiece. The fund for prizes would be 20% of their total revenue (TV plus tickets) rounded to the nearest $10,000. The prizes would be as follows (all prizes are rounded to the nearest dollar):
First prize: 18% of the total prize money
Second prize: 60% of the first prize
Third prize: 65% of the second prize
Fourth prize: 70% of the third prize
Fifth prize: 75% of the fourth prize
Sixth prize: 6% of the remaining prize money
Seventh prize: $900 less than sixth prize
Eighth prize: $900 less than seventh prize
And so on, with each subsequent prize $900 less than the previous prize. The final prize would be whatever was left over, even if it…
A US firm, having prior knowledge that Russia would invade Ukraine, bought 100,000 barrels of oil from Heritage Limited , a Trinidad firm . If in January 2022, the US firm enters into a forward contract to purchase the oil at US$65 per barrel to settle in November 2022, what is the gain/loss on the contract to the US firm? The spot price of oil in November averages US$100 per barrel.
a.
US$35,000 loss
b.
US$40,000 gain
c.
US$40,000 loss
d.
US$35,000 gain
Which of these methods to pay for college will rashad need to pay back
Chapter 3 Solutions
MyLab Math with Pearson eText -- Standalone Access Card -- for Excursions in Modern Mathematics (9th Edition)
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