Question

Please help me! Thanks! Questions will be comments

Answer 1

Ryan Hayes bought a stereo for $75. He spent $24.75 repairing the cabinet. He sold the stereo for $150. Find the net profit

Answer 2

Well the net profit is \[Profit = Income - Expenses\]

Answer 3

I got $99.75. Is it correct?

Answer 4

No

Answer 5

Ok I am confused. ._.

Answer 6

He bought the stereo - here he's giving someone else money, so that's an expense ($75)
He had it repaired - here he's also giving out money, so it's an expense too ($24.75)
He sold it - here he's receiving money, so it's an income ( $150)

Then just plug them in to the formula:\[Profit = (150) - (75 + 24.75)\]\[Profit = 50.25\]

Answer 7

Oh ok. Thank you for your help.

Answer 8

No problem. You should click the "Good Answer" button when someone helps you out :)