Final answer:
The issue primarily deals with the rate of work for a painting job and real estate transactions, including profits from the sale of properties and equity increase in a house due to market value appreciation. Additionally, it covers the calculation of a third painter's marginal productivity.
Step-by-step explanation:
The question at hand is concerned with rate of work and involves solving for financial and mathematical problems related to painting a house and property dealings. Let's address each part separately:
- For the painting job: Given that Sandra is paid $150 per day, and she completes 30% of a house in 4/5 of a day. If we need to find out how much she is paid for that amount of work, we simply calculate the daily rate multiplied by the time worked. Therefore, her earnings for painting 30% in 4/5 of a day would be $150 * 4/5 = $120.
- Regarding the scenario where Freda bought a house for $150,000 and it is now worth $250,000 indicates a profit of $100,000 if she sells it at the current value.
- When discussing Ben's house purchase, he bought it for $100,000, made a 20% down payment, which is $20,000, and paid off another $20,000 of the loan. With the house's value increased to $160,000, his equity in the house is more than what he bought it for.
For the third painter's marginal product, the increase in productivity when the third painter is added is 75 square feet (from 200 square feet with two painters to 275 square feet with three painters).