Can someone help me with this
You have recently found a location for your bakery and have begun implementing the first phases of your business plan. Your budget consists of an $80,000 loan from your family and a $38,250 small business loan. These loans must be repaid in full within 10 years. What integer would represent your total budget?
Twenty-five percent of your budget will be used to rent business space and pay for utilities. Write an algebraic expression that indicates how much money will be spent on business space and utilities. Do not solve.
How much money will rent and utilities cost? Explain how you arrived at this answer.
To represent your total budget, you would add the loan amounts together:
$80,000 (loan from family) + $38,250 (small business loan) = $118,250
To write an algebraic expression for the money spent on business space and utilities, you would multiply the total budget by 25%:
0.25 * $118,250
To calculate the cost of rent and utilities, simply multiply the total budget by 0.25. This gives you 25% of the total budget.
To find the total budget, we need to add the $80,000 loan from the family and the $38,250 small business loan.
Total Budget = $80,000 + $38,250
To find the amount of money that will be spent on business space and utilities, we need to take 25% of the total budget.
Amount spent on business space and utilities = 25% of total budget
To calculate 25% of the total budget, we multiply the total budget by 0.25.
Amount spent on business space and utilities = total budget * 0.25
Now we can substitute the value of the total budget we found earlier into the equation:
Amount spent on business space and utilities = ($80,000 + $38,250) * 0.25
To get the final answer, you would need to perform the multiplication and addition calculation.