Calculate the total cost for attending a conference if registration is $400, and the employee needs hotel, rental car, per diem, parking, and coverage for 4 days.
| Expense | Cost per day |
| :---------- | :----------- |
| Hotel | $230 |
| Rental Car | $110 |
| Per Diem | $55 |
| Parking | $40 |
| Coverage | $400 |
Answer (2)
Calculate the total hotel cost: 4 × 230 = 920 .
Calculate the total rental car cost: 4 × 110 = 440 .
Calculate the total per diem cost: 4 × 55 = 220 .
Calculate the total parking cost: 4 × 40 = 160 .
Calculate the total cost: 400 + 920 + 440 + 220 + 160 + 400 = 2540 .
The total cost for attending the conference is 2540 .
Explanation
Understanding the Problem We need to calculate the total cost for attending a conference. The expenses include registration, hotel, rental car, per diem, parking, and coverage for 4 days. We have the cost per day for hotel, rental car, per diem, and parking. The registration and coverage costs are fixed.
Calculating Hotel Cost First, let's calculate the total cost for the hotel for 4 days. The hotel costs $230 per day, so for 4 days, the total cost is: 4 × 230 = 920
Calculating Rental Car Cost Next, let's calculate the total cost for the rental car for 4 days. The rental car costs $110 per day, so for 4 days, the total cost is: 4 × 110 = 440
Calculating Per Diem Cost Now, let's calculate the total per diem cost for 4 days. The per diem is $55 per day, so for 4 days, the total cost is: 4 × 55 = 220
Calculating Parking Cost Then, let's calculate the total parking cost for 4 days. Parking costs $40 per day, so for 4 days, the total cost is: 4 × 40 = 160
Calculating Total Cost Now, we sum up all the costs, including the registration fee and coverage: Total Cost = Registration + Hotel + Rental Car + Per Diem + Parking + Coverage Total Cost = 400 + 920 + 440 + 220 + 160 + 400 = 2540
Final Answer Therefore, the total cost for attending the conference is $2540 .
Examples
Imagine you are planning a business trip. You need to account for all potential expenses, including registration fees, accommodation, transportation, daily allowances, and other coverage costs. By calculating the total cost, you can effectively budget for the trip and ensure you have sufficient funds to cover all expenses. This type of calculation is crucial for financial planning in both personal and professional contexts, helping to avoid unexpected costs and maintain financial stability. Understanding how to break down and sum individual costs allows for better financial decision-making and resource allocation.
The total cost for attending the conference is $2540, which includes registration, hotel, rental car, per diem, parking, and coverage for 4 days. Each individual cost was calculated based on the daily rates and then summed up accordingly. This calculation helps to budget accurately for the trip.
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