Question

In: Finance

Joe bought 5 1/2 cords of maple at $85 per cord of maple. He also purchased...

Joe bought 5 1/2 cords of maple at $85 per cord of maple. He also purchased 6 3/4 cords of cedar at $60 per cord of cedar. Joe’s neighbor Dan offered to share the wood & pay Joe 2/5th of the total cost. How much did Joe receive from Dan?

Solutions

Expert Solution

1.Total cost

Cost of Maple = 5.50 * $85 = $467.5

Cost of Cedar = 6.75 * $60 = $405

Total cost = $872.5

2. DAN offered to Joe = $872.5 * 2/5 = $349


Related Solutions

4. Joe Levi bought a home in Arlington, Texas, for $127,000. He put down 25% and...
4. Joe Levi bought a home in Arlington, Texas, for $127,000. He put down 25% and obtained a mortgage for 30 years at 8.00%. What is the difference in interest cost if he had obtained a mortgage rate of 6.00%? (Use Table 15.1.) (Use 360 days a year. Round your intermediate values and final answer to the nearest cent.) Difference $
You purchased 500 shares in A Limited on 1 January 2015 for $85 per share. Now,...
You purchased 500 shares in A Limited on 1 January 2015 for $85 per share. Now, assume that the stock pays an annual dividend of $12 per share. On 31 December 2015, the market price is $91 per share. What is your total dollar return for the year? A. $3 000 B. $6 000 C. $9 000 D. $45 500
Exercise 5-1 On January 1, 2013, Pam Company purchased an 85% interest in Shaw Company for...
Exercise 5-1 On January 1, 2013, Pam Company purchased an 85% interest in Shaw Company for $541,800. On this date, Shaw Company had common stock of $398,100 and retained earnings of $143,700. An examination of Shaw Company’s assets and liabilities revealed that their book value was equal to their fair value except for marketable securities and equipment: Book Value Fair Value Marketable securities $19,800 $44,600 Equipment (net) 120,200 140,000 (b) Determine the amounts at which the above assets (plus goodwill,...
An investor bought a stock for $85 and sold it exactly 2 years later for $98....
An investor bought a stock for $85 and sold it exactly 2 years later for $98. He received two dividend payments of $3 each during his holding period (the first at the end of the first year and the second, just before he sold his shares). The re-investment rate was 5% per year. Calculate the following: The investor's capital gain: $    The future value of his reinvested dividends: $ The investor’s annual realized rate of return(ROR):
Tom Miller owns a house that he bought 5 years ago for $200,000. He financed the...
Tom Miller owns a house that he bought 5 years ago for $200,000. He financed the purchase with an 80% LTV loan at 7% interest and a 30-year amortization term with monthly payments. Interest rates have since fallen and a new loan (which is equal to the balance of the original loan) is now available at 5.25% interest rate with 4 discount points and is amortized over 25 years with monthly payments. Neither mortgage requires a prepayment penalty. Assume that...
Joe is planning to invest the following amounts at 5% interest. How much money will he...
Joe is planning to invest the following amounts at 5% interest. How much money will he have saved at the end of year 3? End of Year Amount Saved 1 $700 2 $600 3 800$
Maple Inc. owns equipment that it purchased on January 1, 2018 for $4 Million. The following...
Maple Inc. owns equipment that it purchased on January 1, 2018 for $4 Million. The following additional information is available: Depreciation: 10-year useful life, straight line basis, no residual. Dec 31, 2018 – Book value (after recording 2018 depreciation): $3,600,000 Dec 31, 2018 – Fair value: $4,500,000   Dec 31, 2019 – Fair value $3,000,000 The company uses the revaluation model (asset adjustment method) to account for its property, plant and equipment. Instructions Assuming the entry for the current year's depreciation...
Joe owns 1,500 shares of Eagle, Inc. stock that he purchased over ten years ago for...
Joe owns 1,500 shares of Eagle, Inc. stock that he purchased over ten years ago for $80,000. Although the stock has a current market value of $52,000, same still views the stock as being a solid long-term investment. He has sold other stock during the year with overall gains of $30,000, so he would like to sell the Eagle stock and offset the $28,000 loss against these gains - but somehow keep his Eagle investment. He has devised a plan...
Question 5 Lawrence bought a new house for RM388 000. He needed to pay a 5%...
Question 5 Lawrence bought a new house for RM388 000. He needed to pay a 5% down payment. The balance was borrowed from a finance company that charged interest at 7.23% compounded monthly. The period of the payment was 20 years. Find the amount he needed to borrow from the finance company. Find the monthly installment payment made to the finance company. After paying for 13 years, he decided to settle all the unsettled loan in one single payment, find:...
Joe buys 10 gallons of milk at $3.00 per gallon at Publix. He plans to buy...
Joe buys 10 gallons of milk at $3.00 per gallon at Publix. He plans to buy more milk at other grocery stores later this week and then compute the weighted mean cost of milk at the end of the week. What number will Joe plug in as his first "w" value when making this computation?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT