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To expand your business, you hire a banker to raise \$1 million in order to finance a building designed by an architect. You also hire an attorney for 10 hours and a computer programmer for 8 hours. What is the total cost for these services?

[tex]\[
\begin{tabular}{|l|r|}
\hline
Service & Cost \\
\hline
Computer Programmer & \$50 per hour \\
Architect & \$10,000 flat fee \\
Attorney & \$200 per hour \\
Banker & 2\% of capital raised \\
\hline
\end{tabular}
\][/tex]

Total cost: \$[?]



Answer :

GinnyAnswer
To determine the total cost for the services, we need to break down each professional's fee based on the given rates and hours worked. We'll sum the individual costs to find the total.

1. Computer Programmer:
- Rate: $50 per hour
- Hours worked: 8
- Cost: \( 50 \text{ dollars/hour} \times 8 \text{ hours} = 400 \text{ dollars} \)

2. Attorney:
- Rate: $200 per hour
- Hours worked: 10
- Cost: \( 200 \text{ dollars/hour} \times 10 \text{ hours} = 2000 \text{ dollars} \)

3. Architect:
- Flat fee: $10,000
- Cost: \( 10,000 \text{ dollars} \)

4. Banker:
- Percentage of capital raised: 2%
- Capital raised: $1,000,000
- Cost: \( 2\% \times 1,000,000 \text{ dollars} = 0.02 \times 1,000,000 \text{ dollars} = 20,000 \text{ dollars} \)

Finally, we sum all these costs to find the total:

[tex]\[ \text{Total cost} = \text{Programmer cost} + \text{Attorney cost} + \text{Architect flat fee} + \text{Banker cost} \][/tex]

[tex]\[ \text{Total cost} = 400 \text{ dollars} + 2000 \text{ dollars} + 10,000 \text{ dollars} + 20,000 \text{ dollars} \][/tex]

[tex]\[ \text{Total cost} = 32,400 \text{ dollars} \][/tex]

Therefore, the total cost for these services is [tex]$\$[/tex] 32,400$.

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