mandilynn22

08.03.2021 • 

Mathematics

Adam works as an account manager for a local insurance company. He makes 53500 per month, after taces. He sticks to a strict monthly budget to make sure that he is able to pay for all of his expenses each month. Look at the list below of the items Adam must budget for each month. He gives a specific
percentage of his income to each item. Use his monthly income and the percentage of each item to determine how much Adam will need to budget for
each expense
30% for rent/mortgage
15% for Insurances
12% for foods
8% for utilities
10% for savings
5% for fun
7% for clothings
3% for personal items
10% charitable givings
How much money will Adam have left over after budgeting for each item on the list?

Ответ:

lilpetals

30.12.2020

Mathematics

---

$ 1,965,334

Step-by-step explanation:

Annual sales of company in 1999 = $ 1,200,000

Geometric mean growth rate = 10.37 % = 0.1037

In order to forecast we have to use the concept of Geometric sequence. The annual sales of company in 1999 constitute the first term of the sequence, so:

The growth rate is 10.37% more, this means compared to previous year the growth factor will be

r =1 + 0.1037 = 1.1037

We have to forecast the sales in 2004 which will be the 6th term of the sequence with 1999 being the first term. The general formula for n-th term of the sequence is given as:

So, for 6th term or the year 2004, the forecast will be:

Thus, the forecasted sales for 2004 are $ 1,965,334

---

0,0(0 оценок)