You have signed a contract to build a garage for the Simpsons. You will receive a $500 bonus for completing the project within 15 working days. The contract also contains a penalty clause where you will lose $100 for each day the project takes longer than 15 working days.

Question: Do you expect to receive a bonus or penalty? If so, how much do you expect the bonus or penalty to be?

You can expect to receive a bonus, as the completion time is within the allowable limit of 15 working days. You would expect to receive a bonus of $300.

To determine whether you expect to receive a bonus or penalty for completing the garage construction project for the Simpsons, we need to analyze the timeline and compare it to the terms of the contract.

Given:

- Bonus for completing within 15 working days: $500

- Penalty for each day over 15 working days: $100

Analysis:

1. Calculate Expected Completion Date:

- Determine the total number of working days you estimate it will take to complete the project.

2. Compare Completion Date to Contract Terms:

- If you complete the project within or on the 15th working day, you will receive the $500 bonus.

- If you exceed the 15th working day, calculate the number of days over and apply the $100 penalty for each day.

Example Scenario:

Let's say you estimate the project will take 17 working days to complete:

- Bonus Calculation:

- You complete the project in 17 days.

- Days within contract limit: 15 days

- Days over limit: 17 days - 15 days = 2 days

- Bonus: $500 (if completed within 15 days) - Penalty for 2 days = $500 - $200 = $300 bonus