Barbados Community College

Division of Fine Arts - Music

Maths

Studio Renovations

Marlon Abbott

0070287

Aaron Ifill

0082863

Shanice John

0010471

Deondray Richards

0082830

Subject: Practical Maths

Tutor: Mr. Lashley
Date: November 4th, 2015

Deondray Richards

Studio Renovation
Maad Entertainment has recently acquired land and wants to renovate the
space and use it for their studio. The following calculations were made to
determine the costs it would take to startup the small business.

Tiling
The floor of the studio is 23ft 6inches long and 19ft
wide and is to be tiled with 12 inch tiles, each priced

23 ft 6

at $1.60. The Tiler charges $2.50 to lay down each

tile. The following calculations were made to
determine the entire cost to tile.

Inches to Ft = 23ft 6in = (6/12 = 0.5) ft = 23.5ft

Area of Floor = 23.5ft x 19ft = 446.5
Area of 1 Tile = 12in x 12in or 1ft sq
Minimum # of Tiles =

446.5

Extra tiles = 5/100 x 446.5 = 22.3 or 22

Total # required = 446.5 + 22 = 468.5 or 469
Cost of 1 tile = $1.60

19ft

Rough sketch of studio

space

Deondray Richards

Cost of tiles needed = 469 x $1.60 = $793.60

Tiler charges = $2.50 per tile
Total cost of tiling the space = $793.6 x $2.50 = $1984

Shanice John

Studio Equipment
A M-audio MIDI keyboard advertised online at a regular price of $338.00 is
now being sold at 20% discount. Therefore the calculations are as followed
to find the discounted price;

Dis. Price = 20/100 x $338 = $67.6

S. Price = $338.00 - 67.6 = $270.40

The same website advertised a pair of M-Audio studio monitors priced at

$276.52 per monitor with 15% VAT exclusive and a mixing board for
$492.78 after a 30% discount. Therefore the calculations are as followed to
find the VAT exclusive and the original price for the mixing board.

a)

VAT = 15%
15% = 15/100 x $276.52 = 41.47
Price of one monitor after VAT = 276.52 + 41.47 = $317.99 OR

$318.00 per monitor

Price of pair = $318.00 x 2 = $636.00
b)

After a 30% discount, the mixing board is now sold at $492.78.

Dis. Price/70% = $492.78

Shanice John

1% = $492.78/70
100% = $492.78/70 x 100 = $703.97 <-O. Price

Total spent on equipment:

$270.40 + $636.00 + $492.78 = $1399.18

Marlon Abbott

Maad Entertainment decided to take out a mortgage to construct the new

studio for $150,000. The bank required 10% deposit, with an interest of
8.4% per annum compounded monthly over 15 years. The following
calculations were made to find the monthly payments required of them and
the total interest to be paid.

Marlon Abbott

r = 8.4/100 = 0.084/12 = 0.007

P = 90/100 x $150,000 = 135,000

Marlon Abbott

1+r = 1.007

a=

n = 15 x 12 = 180 months

135,000 x 0.007/(1 - 1.007(-180)) = $1,321.50 (monthly payment)

Interest paid = $1,321.50 x 180 - $135,000 = $102,870

Aaron Ifill

Budget
Equipment = $1,399.18
Tiling = $1,984.00
Mortgage = $1,321.50
Interest = $102,870

Total Price for Materials = $1399.18 + $1984.00 = $3383.18

Expenses = $1,321.50 + 102,870 = $104191.50
Income = $150 per session (two hour sessions)
$50 per hour session
$50 for mixing & mastering
Loan = $3383.18 + $104191.50 = 107574.68
Initial Starting funds = $115,000.00