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The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with a

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by VJesus12 » Mon Sep 21, 2020 7:04 am

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\(C=\begin{cases} 0.10s, \; \text{if} \; s\le 60,000,\\ 0.10s +0.4(s-60,000), \; \text{if} \; s> 60,000. \end{cases}\)

The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with a salary of \(s\) dollars. How many more dollars is the contribution for a participant with a salary of \(\$70,000\) than for a participant with a salary of \(\$50,000 ?\)

A. \(\$800\)
B. \(\$1,400\)
C. \(\$2,000\)
D. \(\$2,400\)
E. \(\$2,800\)

Answer: D

Source: Official Guide
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Re: The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with

by gmatter2012 » Mon Sep 21, 2020 9:24 pm
VJesus12 wrote: ↑
Mon Sep 21, 2020 7:04 am
 \(C=\begin{cases} 0.10s, \; \text{if} \; s\le 60,000,\\ 0.10s +0.4(s-60,000), \; \text{if} \; s> 60,000. \end{cases}\)

The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with a salary of \(s\) dollars. How many more dollars is the contribution for a participant with a salary of \(\$70,000\) than for a participant with a salary of \(\$50,000 ?\)

A. \(\$800\)
B. \(\$1,400\)
C. \(\$2,000\)
D. \(\$2,400\)
E. \(\$2,800\)

Answer: D

Source: Official Guide
Please correct the question for case s>60,000 its
.04 and NOT .4
So we have to use 0.10s + .04 (s - 60,000) for the second case.
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Re: The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with

by gentvenus » Tue Sep 22, 2020 2:01 am
gmatter2012 wrote: ↑
Mon Sep 21, 2020 9:24 pm
VJesus12 wrote: ↑
Mon Sep 21, 2020 7:04 am
 \(C=\begin{cases} 0.10s, \; \text{if} \; s\le 60,000,\\ 0.10s +0.4(s-60,000), \; \text{if} \; s> 60,000. \end{cases}\)

The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with a salary of \(s\) dollars. How many more dollars is the contribution for a participant with a salary of \(\$70,000\) than for a participant with a salary of \(\$50,000 ?\)

A. \(\$800\)
B. \(\$1,400\)
C. \(\$2,000\)
D. \(\$2,400\)
E. \(\$2,800\)

Answer: D

Source: Official Guide
Please correct the question for case s>60,000 its
.04 and NOT .4
So we have to use 0.10s + .04 (s - 60,000) for the second case.
No wonder why I got stuck!
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Re: The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with

by Scott@TargetTestPrep » Fri Sep 25, 2020 1:53 pm
VJesus12 wrote: ↑
Mon Sep 21, 2020 7:04 am
 \(C=\begin{cases} 0.10s, \; \text{if} \; s\le 60,000,\\ 0.10s +0.4(s-60,000), \; \text{if} \; s> 60,000. \end{cases}\)

The formula above gives the contribution \(C,\) in dollars, to a certain profit-sharing plan for a participant with a salary of \(s\) dollars. How many more dollars is the contribution for a participant with a salary of \(\$70,000\) than for a participant with a salary of \(\$50,000 ?\)

A. \(\$800\)
B. \(\$1,400\)
C. \(\$2,000\)
D. \(\$2,400\)
E. \(\$2,800\)

Answer: D

Source: Official Guide
Solution:


(Note: There is a typo. The number 0.4 should be 0.04.)

If a participant has a salary of s = $50,000, then C = 0.1 x 50,000 = $5,000.

If a participant has a salary of s = $70,000, then C = 0.1 x 70,000 + 0.04(70,000 - 60,000) = 7,000 + 400 = $7,400.

Therefore, the difference is 7,400 - 5,000 = $2,400.

Answer: D

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