Time Remaining 1 hour 52 minutes 27 seconds01:52:27 Item 3
Time Remaining 1 hour 52 minutes 27 seconds01:52:27
Braymiller Incorporated has a $1,600,000 investment opportunity with the following characteristics:

Sales$ 4,000,000
Contribution margin ratio 30% of sales
Fixed expenses$ 1,040,000

The turnover for this investment opportunity is closest to:

Is this an exam? looks like it

step-by-step explanation:

the original amount doesn't ''re just looking for the time it takes for 1/2 of the substance to we have

(1/2) =)     take the ln   of both sides

ln (1/2)   = )   and we can write

ln(1/2) = ) lne     and lne   = 1     so we have

ln(1/2) = -.1092t     divide both sides by -.1092

t = ln(1/2)/-.1092 = about 6.347 days = about 6.3 days (rounded)