1. 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.
a. What integer would represent your total budget?
b. You will use 25% of your budget 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.
c. How much money will rent and utilities cost? Explain how you arrived at this answer.
d. Imagine an investor has increased your budget by $22,250. The investor does not need to be repaid. Rather, he becomes part owner of your business. Will the investor contribute enough money to meet the cost of rent and utilities? Support your answer and write an equation or inequality that illustrates your answer.
e. This equation illustrates your remaining funds after paying for rent and utilities. How much money is left? Explain how you arrived at your answer.
$38,250 + $80,000+ $22,250-0.25($80,000 + $38,250) =
B.($38,250+$80,000).25
C. $29,562.5 is 25% of the total budget.
D.$29,562.5-$22,250=7312.5 deficit.
E.$89.687.5+$22,250=110,937.5 remaining funds
a. To represent the total budget, we need to add the $80,000 loan from the family and the $38,250 small business loan. The integer that represents the total budget is $80,000 + $38,250 = $118,250.
b. The expression to represent the money spent on business space and utilities can be written as 0.25 times the total budget.
c. To calculate the cost of rent and utilities, we need to multiply the total budget by 0.25 (which represents 25%). So, the cost of rent and utilities is 0.25 * $118,250 = $29,562.50.
d. The investor contributes an additional $22,250 to the budget, making the new budget $118,250 + $22,250 = $140,500. To check if this is enough to meet the cost of rent and utilities, we compare it to the cost of rent and utilities. So, the inequality to determine if the investor contributes enough money is $140,500 >= $29,562.50.
e. To calculate the remaining funds after paying for rent and utilities, we subtract the cost of rent and utilities from the updated budget. So, the remaining funds equation is $140,500 - $29,562.50. Evaluating this expression will give us the amount of money left.