Integrated Potato Chips paid a $2 per share dividend yesterday. You expect the dividend to grow steadily at a rate of 4 percent per year. a. What is the expected dividend in each of the next 3 years? b. If the discount rate for the stock is 12 percent, at what price will the stock sell? c. What is the expected stock price 3 years from now? d. If you buy the stock and plan to hold it for 3 years, what payments will you receive? What is the present value of those payments? Compare your answer to (b).

Answers

Answer 1

Answer:

Kindly check explanation

Step-by-step explanation:

Given that:

Dividend paid (D) = $2

Growth rate (g) = 4% per annum = 0.04

Expected Dividend in each of the next 3 years :

1st year : $2 * 1.04 = $2.08

2nd year : $2.08 * 1.04 = $2.16

3rd year: $2.16 * 1.04 = 2.2464 = $2.25

B) If the discount rate for the stock is 12 percent, at what price will the stock sell?

Discount rate (r) = 12% = 0.12

Price of stock = Dividend / (r - g)

Price of stock = 2 / (0.12 - 0.04)

Price = 2 / 0.08 = $25

c. What is the expected stock price 3 years from now?

(2.25 * 1.04) / 0.08

2.34 / 0.08 = $29.25

D) If you buy the stock and plan to hold it for 3 years, what payments will you receive? What is the present value of those payments?

Dividend to be received from year 1 to 3

2.08, 2.16, 2.25

Stock price in 3rd year = 29.25

Present value :

(29.25/1.12^3) + (2.25/1.12^3) + (2.16/1.12^2) + (2.08 / 1.12^1) = 26.00

For year 1 :

D = 2.08

Stock price = 2.16/0.08 = 27

Present value (PV) = (27/1.12) + (2.08/1.12) = 25.96

Year 2 :

D = 2.16

Stock price = 2.25/0.08 = 28.125

cashflow = (2.16 + 28.125) = 30.285

PV = (28.125/1.12^2) + (2.16/1.12^2) + (2.08/1.12^1) = 26.00

Year 3:

D = 2.25

STOCK PRICE = 29.25

Total Cashflow = (2.25 + 29.25) = 31.5

PV = (31.5/1.12^3) + (2.25/1.12^3) + (2.16/1.12^2) + (2.08/1.12^1) = $27.60


Related Questions

Find the scale ratio for the map described below 1 mm (map) = 50 km (actual) The scale ratio is 1 to ?

Answers

Answer:

  1 : 50,000,000

Step-by-step explanation:

The given scale (with units) is ...

  1 mm : 50 km

If we convert both units to meters, so we can give the scale as a pure number, then we have ...

  10^-3 m : 5×10^4 m = 1 : 5×10^7 = 1 : 50,000,000

PLEASE HELP (05.04 LC) The image below is a triangle drawn inside a circle with center O: (5 points) Which of the following expressions shows the area, in square inches, of the circle? (π = 3.14) Select one: a. 3.14 ⋅ 2 b. 3.14 ⋅ 3 c. 3.14 ⋅ 22 d. 2 ⋅ 3.14 ⋅ 22

Answers

Answer:

The area of the circle is:

[tex]3.14\, *\,2^2 \,\,in^2[/tex]

Step-by-step explanation:

If the diameter of the circle is 4 inches, then its radius is half of that (that is 2 inches), and we can use the formula for the area of a circle:

[tex]Area=\pi\,R^2\\Area= \pi\,(2\,\,in)^2\\Area=3.14\,(4)\,in^2[/tex]

The area of the circle is : [tex]3.14\, *\,2^2 \,\,in^2[/tex]

A population has a standard deviation of 50 A random sample of 100 items from this population is selected. The sample mean is determined to be 600. At 95% confidence, the margin of error is:_________.
a. 5
b. 9.8
c. 650
d. 609.8

Answers

Answer:

B. 9.8

Step-by-step explanation:

The formula for calculating the margin of error is expressed as shown;

Margin of error = Z * S/√n

Z is the z-score at 95% confidence interval = 1.96

S is the standard deviation = 50

n is the sample size = 100

Substituting this values into the formula above;

Margin of error = 1.96 * 50/√100

Margin of error = 1.96 * 50/10

Margin of error = 1.96 * 5

Margin of error = 9.8

Hence the margin of error is 9.8

Two example that show two positive rational number is greater then either factor True?

Answers

Answer:

true

Step-by-step explanation:

PLEASE HELP ME, I DON'T UNDERSTAND THIS! :(

Answers

Hello, please consider the following.

x is obviously different from 0 and then, dividing by x is legit.

For the first 105 miles the speed is x, so the time spent is

[tex]\dfrac{105}{x}[/tex]

For the second part, the speed is 1.4 x, so the time spent is

[tex]\dfrac{105}{1.4x}=\dfrac{75}{x}[/tex]

In total, the time she spent driving is

[tex]\dfrac{105}{x}+\dfrac{75}{x}\large \boxed{=\dfrac{180}{x}}[/tex]

Thank you.

what is 1/4 divided by 3/8

Answers

Answer: 2/3

Step-by-step explanation:

Answer: 2/3

Step-by-step explanation:It can sometimes be difficult to divide fractions, such as 1/4 divided by 3/8. When we divide two fractions, such as 1/4 ÷ 3/8, we flip the second fraction and then we simply multiply the numerators with each other and the denominator with each other.

Mitchell travels from the US to Canada, where he exchanges 150 US dollars for Canadian dollars. He then spends 20 Canadian dollars, returns to the US, and exchanges the remaining money back to US dollars. How many US dollars does Mitchell have remaining? 129.46 130.00 130.66 134.59

Answers

Answer: $130.66

Step-by-step explanation:

Answer:

130.66

Step-by-step explanation:

i took the asignment

Find sin 2x, cos 2x, and tan 2x from the given information. sin x = -3/5, x in quadrant 3.

Answers

Answer:

[tex]\sin 2x = \frac{24}{25}[/tex] , [tex]\cos 2x = \frac{7}{25}[/tex], [tex]\tan 2x = \frac{24}{7}[/tex]

Step-by-step explanation:

The sine, cosine and tangent of a double angle are given by the following trigonometric identities:

[tex]\sin 2x = 2\cdot \sin x \cdot \cos x[/tex]

[tex]\cos 2x = \cos^{2}x -\sin^{2}x[/tex]

[tex]\tan 2x = \frac{2\cdot \tan x}{1-\tan^{2}x}[/tex]

According to the definition of sine function, the ratio is represented by:

[tex]\sin x = \frac{s}{r}[/tex]

Where:

[tex]s[/tex] - Opposite leg, dimensionless.

[tex]r[/tex] - Hypotenuse, dimensionless.

Since [tex]x[/tex], measured in sexagesimal degrees, is in third quadrant, the following relation is known:

[tex]s < 0[/tex] and [tex]y < 0[/tex].

Where [tex]r[/tex] is represented by the Pythagorean identity:

[tex]r = \sqrt{s^{2}+y^{2}}[/tex]

The magnitude of [tex]y[/tex] is found by means the Pythagorean expression:

[tex]r^{2} = s^{2}+y^{2}[/tex]

[tex]y^{2} = r^{2}-s^{2}[/tex]

[tex]y = \sqrt{r^{2}-s^{2}}[/tex]

Where [tex]y[/tex] is the adjacent leg, dimensionless.

If [tex]s = -3[/tex] and [tex]r = 5[/tex], the value of [tex]y[/tex] is:

[tex]y = \sqrt{(5^{2})-(-3)^{2}}[/tex]

[tex]y = -4[/tex]

Then, the definitions for cosine and tangent of x are, respectively:

[tex]\cos x = \frac{y}{r}[/tex]

[tex]\tan x = \frac{s}{y}[/tex]

If [tex]s = -3[/tex], [tex]y = -4[/tex] and [tex]r = 5[/tex], the values for each identity are, respectively:

[tex]\cos x = -\frac{4}{5}[/tex] and [tex]\tan x = \frac{3}{4}[/tex].

Now, the value for each double angle identity are obtained below:

[tex]\sin 2x = 2\cdot \left(-\frac{3}{5} \right)\cdot \left(-\frac{4}{5} \right)[/tex]

[tex]\sin 2x = \frac{24}{25}[/tex]

[tex]\cos 2x = \left(-\frac{4}{5} \right)^{2}-\left(-\frac{3}{5} \right)^{2}[/tex]

[tex]\cos 2x = \frac{7}{25}[/tex]

[tex]\tan 2x = \frac{2\cdot \left(\frac{3}{4} \right)}{1-\left(\frac{3}{4} \right)^{2}}[/tex]

[tex]\tan 2x = \frac{24}{7}[/tex]

What is “35 is 60% of what number?”

Answers

Answer:

58.33

Step-by-step explanation:

35 isn't exactly 60% of an number but by rounding you will get 58.33

Daniel says that when the irrational number 7√3 is multiplied by any rational number, the product is always an irrational number. What value for the rational number disproves Daniel's claim?

Answers

Answer: 0

============================================

Explanation:

When we multiply 0 by any number, we get 0 as a result

x*0 = 0

0*x = 0

for any number x.

The number 0 is rational since we can write it as a fraction of two integers

0 = 0/1

If Daniel were to correct his statement to say "multiply by any nonzero rational number", then his statement would be correct that the result is irrational.

----------------------------------------------

Extra info:

Here's a proof showing why Daniel's claim is correct if we consider nonzero rational numbers

Let p be a nonzero rational number, so p = a/b for integers a,b where neither a or b are zero

Let q be an irrational number. We cannot write q as a ratio of two integers

The claim is that p*q is irrational. For now let's assume the opposite. So assume p*q is rational. This means p*q = r/s for integers r,s

This would be the same as (a/b)*q = r/s which solves to q = (r/s)*(b/a) = (rb)/(sa) making q rational, but that contradicts the fact we made q irrational earlier.

Therefore, the assumption p*q is rational cannot be the case, and p*q must be irrational.

Simplify (1-√3) (1÷3+√3) leaving your answer in the form p+q√3

Answers

Answer:

  [tex]1-\dfrac{2}{3}\sqrt{3}[/tex]

Step-by-step explanation:

Maybe you want to simplify ...

  [tex](1-\sqrt{3})\dfrac{1}{3+\sqrt{3}}[/tex]

Multiply numerator and denominator by the 'conjugate' of the denominator:

  [tex](1-\sqrt{3})\dfrac{1}{3+\sqrt{3}}\cdot\dfrac{3-\sqrt{3}}{3-\sqrt{3}}=\dfrac{(1-\sqrt{3})(3-\sqrt{3})}{9-3}=\dfrac{3-4\sqrt{3}+3}{6}\\\\\boxed{1-\dfrac{2}{3}\sqrt{3}}[/tex]

Find the values for k so that the intersection of x=2k and 3x+2y=12 lies in the first quadrant.

Answers

Answer:

Values of k can be 0, 1, or 2 such that intersection of the given lines lie in the 1st quadrant.

Step-by-step explanation:

Given two lines:

[tex]x=2k[/tex] and

[tex]3x+2y=12[/tex]

To find:

Values of 'k' such that the intersection of given two lines lie in the first quadrant.

Solution:

In 1st quadrant, the values of [tex]x[/tex] and [tex]y[/tex] both are positive.

So, let us find out intersection of the two lines.

Intersection of the two lines can be found by solving the two equations for the values of [tex]x[/tex] and [tex]y[/tex].

Given that [tex]x=2k[/tex] to be in the first quadrant, the value of k must be positive.

Let us put [tex]x=2k[/tex] in the equation [tex]3x+2y=12[/tex] to find the intersection point.

[tex]3 \times 2k + 2y=12\\\Rightarrow 6k+2y=12\\\Rightarrow 2y=12-6k\\\Rightarrow \bold{y=6-3k}[/tex]

For y to be positive:

[tex]6 - 3k \geq 0\\\Rightarrow 3k \leq 6\\\Rightarrow k \leq 2[/tex]

So, values of k can be 0, 1, or 2 such that intersection of the given lines lie in the 1st quadrant.

Translate into an equation: y is 37% of x.

Answers

Answer:

soln,

y=37/100×x

or, 100y=37x.....is the answer

An expression is a way of writing a statement with more than two variables or numbers with operations such as addition, subtraction, multiplication, and division.

The equation of y is 37% of x is

y = 0.37x

What is an expression?

An expression is a way of writing a statement with more than two variables or numbers with operations such as addition, subtraction, multiplication, and division.

Example:

2 + 3x + 4y = 7 is an expression.

2 + 3 - 4 is an expression.

2x4 + 4x = 4 is an expression.

We have,

y is 37% of x.

This can be written as,

y = 37/100 of x

y = 0.37x

Thus,

The equation of y is 37% of x is

y = 0.37x

Learn more about expressions here:

https://brainly.com/question/3118662

#SPJ2

Solve the following
(q+9)/5 +8Q = 11 - Q

Answers

Answer:

mark it as brainlist plzz

Simplify 3x + 3 + 2.

3x + 5
5x + 3
8x

Answers

Answer:

3x + 5

Step-by-step explanation:

We are doing variables and simplifying.

You have two types of numbers here, you have a coefficient, and you have regular numbers. Now do keep in mind that you can never add a regular number to a coefficient. So the only thing in this problem you will add is 3 and 2. Because 3x is different

3x + (3 + 2)

3x + 5

The simplified form of the expression is 3x + 5.

Option A is the correct answer.

We have,

Expression:

3x + 3 + 2

Add like terms.

3x + (3 + 2)

3x + 5

This is the simplest simplified form of the expression.

Thus,

The simplified form of the expression is 3x + 5.

Learn more about expressions here:

https://brainly.com/question/3118662

#SPJ6

(4x-x^3+3)-(2x^2-3x^3+1)

Answers

Answer:

2 (x^3 - x^2 + 2 x + 1)

Step-by-step explanation:

Simplify the following:

-(2 x^2 - 3 x^3 + 1) - x^3 + 4 x + 3

Factor -1 out of -3 x^3 + 2 x^2 + 1:

--(3 x^3 - 2 x^2 - 1) - x^3 + 4 x + 3

(-1)^2 = 1:

3 x^3 - 2 x^2 - 1 - x^3 + 4 x + 3

Grouping like terms, 3 x^3 - x^3 - 2 x^2 + 4 x - 1 + 3 = (-x^3 + 3 x^3) - 2 x^2 + 4 x + (3 - 1):

(-x^3 + 3 x^3) - 2 x^2 + 4 x + (3 - 1)

3 x^3 - x^3 = 2 x^3:

2 x^3 - 2 x^2 + 4 x + (3 - 1)

3 - 1 = 2:

2 x^3 - 2 x^2 + 4 x + 2

Factor 2 out of 2 x^3 - 2 x^2 + 4 x + 2:

Answer: 2 (x^3 - x^2 + 2 x + 1)

Answer:

Step-by-step explanation:

4x - x^3 + 3 - 2x^2 + 3x^3 - 1

2x^3 - 2x^2 + 4x + 2 is the solution

A local gym has 2 types of cardio machines, treadmills and elliptical machines. There are 38 cardio machines in all. There are 10 more treadmills than there are elliptical machines. How many elliptical machines are at the gym? 9 elliptical machines 14 elliptical machines 24 elliptical machines 28 elliptical machines

Answers

Answer:

14 elliptical machines

Step-by-step explanation:

t = # of treadmills

e = # of elliptical machines

t + e = 38

t = e + 10

Substitute:

e + 10 + e = 38

2e = 28

e = 14

If each square in the grid has a side length of 8 mm, what is the width of the rectangle? Do not include units (mm) in your answer. Type your answer below as a number (example: 5, 3.1, 4 1/2, or 3/2)

Answers

Answer:

See Explanation

Step-by-step explanation:

The question required attachment; however, follow the following steps to answer your question.

See Attachment

Considering the horizontal plane of the gird.

Count the number of the squares in that plane;

This gives 4

Multiply 4 by length of each side of a square;

[tex]Perimeter = 8mm * 4[/tex]

[tex]Perimeter = 32mm[/tex]

Algebraic expressions
Evaluate
The dog is 4 years older than the cat. The cat is 7 years old. How old is the dog?​

Answers

Answer:

11 years old

Step-by-step explanation:

Because the dog is 4 years older, add 7+4

Determine if the following table represents a quadratic function. X 1 2 3 4 5 Y 13 22 37 58 85

Answers

Answer:

Yes, the table represents quadratic function.

[tex]Y = 3X^2+10[/tex]

Step-by-step explanation:

Given that table of values:

[tex]\begin{center}\begin{tabular}{ c c}X & Y \\ 1 & 13 \\ 2 & 22 \\ 3 & 37 \\ 4 & 58 \\ 5 & 85 \\\end{tabular}\end{center}[/tex]

To find:

Whether the given table represents a quadratic?

Solution:

First of all, let us plot the given values on the coordinate xy plane.

Kindly refer to the attached image for the graph of given values.

The graph seems parabolic in nature which is the graph of a quadratic equation.

Now, let us try to find the equation from the given set of values from hit and trial.

Let Quadratic equation be:

[tex]y=ax^{2} +b[/tex]

If the coefficient a = 1

[tex]f(1) = 13 = 1^2+12[/tex]

[tex]f(2) = 22 = 2^2+18[/tex]

[tex]f(3) = 37= 3^2+28[/tex]

[tex]f(4) = 58 = 4^2+42[/tex]

[tex]f(5) = 85 = 5^2+60[/tex]

value of b is not same in each case.

Now, let us try coefficient a = 3

[tex]f(1) = 13 = 3 \times 1^2+10[/tex]

[tex]f(2) = 22 = 3\times 2^2+10[/tex]

[tex]f(3) = 37= 3\times 3^2+10[/tex]

[tex]f(4) = 58 = 3\times 4^2+10[/tex]

[tex]f(5) = 85 =3\times 5^2+10[/tex]

Value of b = 10

So, we can clearly say that the given table represents a quadratic equation.

and the quadratic equation is:

[tex]Y = 3X^2+10[/tex]

The radius of a sphere-shaped balloon increases at a rate of 2 centimeters (cm) per second. If the surface area of
the completely inflated balloon is 784 cm², how long will it take for the balloon to fully inflate?
Use SA=4r2
7 seconds
10 seconds
49 seconds
196 seconds

Answers

Answer:

7 seconds

Step-by-step explanation:

The radius of a sphere-shaped balloon increases at a rate of 2 centimeters (cm) per second.

surface area of the completely inflated balloon is 784 cm²

SA=4r²

784= 4r²

784/4= r²

196 = r²

14cm = r

Yhe radius of the complete inflated balloon is 14cm

If the ball inflate at the rate of 2 cm per seconds

Then it took 14/2 = 7 seconds to inflate fully

Will give brainiliest to whoever answers it and gives it step by step please help me

Answers

Answer:

The first blank is 6.

The second blank is 7.

Step-by-step explanation:

The square root of 41 is between 6 and 7.

6 square is 36

7 square is 49.

So, the square root of 41 should be between 6 and 7.

The first blank is 6.

The second blank is 7.


Graph y=-1/3x+5. Plsss help hurry

Answers

for graphing, the desmos graphing calculator is a big help :))

The advertised weight of a Snickers Fun Size bar is 17 grams. What proportion of candy bars in this sample weigh less than advertised

Answers

Answer:

0.412

Step-by-step explanation:

Given the stem plot figure out which ones are below 17g.

So: 7g / 17g = 0.412 which is the proportion

Two angles of a triangle measure 12º and 40°.
What is the measure of the third angle of the triangle?
A. 38°
B. 48°
C. 128°
D. 308

Answers

Answer:

12+40= 52

180-52=128

Step-by-step explanation:

Angles in a triangle add up to 180

so if two sides are given , they must be added and subtracted from 180.

which gives us 180-52=128

Answer:

the angle is 128°

the right answer is C

Step-by-step explanation:

the angles of a triangle are always 180°

thus

the angle of the the triangle = 180° - (12°+40°)

= 180- 52° = 128°

Let F(x, y, z) = 3xi+ 2yj and let σ be the cube with opposite corners at (0, 0, 0) and (5, 5, 5), oriented outwards. Find the flux of the flow field F across σ.

Answers

Use the divergence theorem,

[tex]\displaystyle\iint_{\partial\sigma}\mathbf F(x,y,z)\cdot\mathrm d\mathbf S=\iiint_\sigma\mathrm{div}\mathbf F(x,y,z)\,\mathrm dV[/tex]

We have

[tex]\mathrm{div}\mathbf F(x,y,z)=\dfrac{\partial(3x)}{\partial x}+\dfrac{\partial(2y)}{\partial y}+\dfrac{\partial0}{\partial z}=5[/tex]

so that the flux across [tex]\sigma[/tex] is equal to 5 times the volume of the cube. The cube itself has edge length 5, so its volume is [tex]5^3=125[/tex], making the flux [tex]5^4=\boxed{625}[/tex].

Emma jogs 2 miles along the beach in 1 3 of an hour. If she travels at a constant rate, how far will she jog in an hour? 1. Use the known information to write a rate.

Answers

Answer:oufonsrgonsrgnrsosgnsogwo0on93rhskgv oaoef

Step-by-step explanation:

iaeiuaefiaef ebf efa fcade emma jog 123e oefofoinsfnfsaefosefnhsfnalnfaogh

The within-subjects F is the non-independent groups equivalent of the one-way ANOVA. True or False?

Answers

Answer: True.

Step-by-step explanation:

The one-way analysis of variance usually (abbreviated as one-way ANOVA). is a method that is used to compare the means of two or more samples ( by make use of the F distribution). This method only applies to numerical response data, the "Y", usually one variable, and numerical or (usually) categorical input data, the "X", always one variable, hence the reason it’s know as "one-way" beca it takes it account one variae at a time.

What is the sum of the three solutions? (find the values for x, y, and z, then add the answers)
2x + 3y − z = 5
x − 3y + 2z = −6
3x + y − 4z = −8

Answers

Answer: x + y + z = 4
-1 + 2 + 3 = 4

Explanation:

2x + 3y - z = 5 (1)
x - 3y + 2z= -6 (2)
3x + y - 4z = -8 (3)
————————-
2x + 3y - z = 5 (Add (1) and (2)
X - 3y + 2z = -6
————————
3x + z = -1 (4)

3x + y - 4z = -8 Add (3) and (2)
x - 3y + 2z = -6
————————
3(3x + y - 4z = -8)
x - 3y + 2z = -6
—————————
9x + 3y - 12z = -24
x -3y + 2z = -6
—————————-
10x - 10z = -30
x - z = -3 (5)

Add (4) and (5)

3x - z = -1
x - z = -3
—————
4x = -4
x = -1

Plug x = -1 in (5)
x - z = -3
-1 - z = -3
-z = -2
z = 2

Plug x and z in (2):
x - 3y + 2z = -6
-1 - 3y + 2(2) = -6
-1 - 3y + 4 = -6
-3y + 3 = -6
-3y = -9
y = -9/-3
y = 3

Therefore, y + z + x = 3 + 2 -1 = 4

Answer:

Once we got

[tex]x=-1[/tex]

[tex]y=3[/tex]

[tex]z=2[/tex]

[tex]\boxed{\text{The sum is 4}}[/tex]

Step-by-step explanation:

Given the linear system:

[tex]\begin{cases} 2x + 3y-z = 5 \\ x- 3y + 2z = -6 \\ 3x + y - 4z = -8 \end{cases}[/tex]

Let's solve it using matrices. I will use Cramer's rule

[tex]M=\left[\begin{array}{ccc}2&3&-1\\1&-3&2\\3&1&-4\end{array}\right][/tex]

Considering determinant as D.

[tex]D=\begin{vmatrix}2&3&-1\\1&-3&2\\3&1&-4\\\end{vmatrix}=40[/tex]

[tex]M_x = \left[\begin{array}{ccc}5&3&-1\\-6&-3&2\\-8&1&-4\end{array}\right] \implies D_x = \begin{vmatrix}5&3&-1\\-6&-3&2\\-8&1&-4\\\end{vmatrix}=-40[/tex]

[tex]M_y = \left[\begin{array}{ccc}2&5&-1\\1&-6&2\\3&-8&-4\end{array}\right] \implies D_y = \begin{vmatrix}2&5&-1\\1&-6&2\\3&-8&-4\\\end{vmatrix}=120[/tex]

[tex]M_z = \left[\begin{array}{ccc}2&3&5\\1&-3&-6\\3&1&-8\end{array}\right] \implies D_z= \begin{vmatrix}2&3&5\\1&-3&-6\\3&1&-8\\\end{vmatrix}=80[/tex]

So, we have

[tex]$x=\frac{D_x}{D} =\frac{-40}{40}=-1 $[/tex]

[tex]$y=\frac{D_y}{D} =\frac{120}{40}=3$[/tex]

[tex]$z=\frac{D_z}{D} =\frac{80}{40}=2 $[/tex]

Need Help This Is A Tricky One​

Answers

Answer:

28th floor........

Step-by-step explanation:

...

Answer:

28

Step-by-step explanation:

current position: 9

down 4 floors: 9-4 = 5

up 7 floors: 5+7 = 12

up 8 floors: 12+8 = 20

up 8 floors: 20+8 = 28

Other Questions
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