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(1) Ahmad wants to deposit 4,500 in a bank account that pays 8 percent annually. How many years will it take for his investment to grow to 10,0002 (Round off to the nearest year.) (2) Essam is looking to purchase an apartment for a price of 125,000. Essam plans to put down €20,000 and will pay the rest by taking on a 12% percent two-year bank loan, what is the monthly payment on this car loan?

SIS.O0 S16.000 se the follosins to answer questions 67 d each week a cafeteria for its employees. The number of meals served ing the cafeteria are given over the last seven weeks, along with the total costs of operat Week Meals served Cafeteria costs 1,500 1,600 1,800 1,450 1,200 S4,800 $5,080 $5,280 $4,900 $4,000 $5,100 $5,400 6 1,650 1.900 Assume that the relevant range includes all of the activity levels mentioned in this problem. 6. Using the high-low method of analysis, the variable cost per meal served in the cafe would be estimated to be: A) S1.50 B) $2.00 C) $2.80. D) $1.00 7. Assume that the cafeteria expects to serve 1,850 meals during Wek 8. Using th low method, the expected total cost of the cafeteria would be: A) $5,340. B) $5,180 C) $5,300. D) $4,375.

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High-low method is the mathematical technique used to split mixed cost into Variable cost and Fixed Cost. Under the High-Low method, calculating expected total cost at an activity is a 4 step process. Step 1- Identifying the highest, lowest activities and costs at the respective activities. Xi = Lowest activity in the given data = 1,200 meals Xı -Highest activity in the given data -1,900 meals Yi - Cost at lowest activity (1,200 meals) in the given data - S4,000 = Cost at highest activity (1,900 meals) in the given data= $5,400 Step 2 - Calculation of Variable Cost per Unit (meal) using the following formula: Y2-Y1 Variable cost per unit X2 - X1 Y2-Y1 S5,400 - $4,000 1,900 mcals - 1,200 mcals $1,400 刊ー- S2 per me:a l Variable cost per meal X2-X1 700 meals Step 3-Calculation of fixed cost using the following formula Fixed cost = Yi-bX, (or) Y2-DX2 (b = Variable cost pcr unit) Fixed cost-Y-BX,-$4,000-($2 x 1 ,200 meals)-$4,000-$2,400-$1,600 Step 4- Calculation of expected total cost at an activity Expected total cost of serving 1,850 meals - (1,850 meals x Variable Cost per meal) +Fixed Cost = (1,850 meals x $2 per meal) + $1.600 - S3,700+$1,600 $5,300 Expected total Cost-$5,300 -> (Answer is c)​​​​​​​

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