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.
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?
80,000+38,250=$118,250
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.
S=118,250*.25
c.How much money will rent and utilities cost? Explain how you arrived at this answer.
$29,562.50 You can explain from last question
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.
22,250<29,562.50 so no
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.
(118,250+22,250)-29,562.50=Money left
Money left is $110,937.50
a. The integer that would represent your total budget is the sum of the $80,000 loan from your family and the $38,250 small business loan. Therefore, the total budget can be represented by the integer $80,000 + $38,250 = $118,250.
b. To indicate how much money will be spent on business space and utilities, we can represent it using the algebraic expression 0.25 * total budget. Here, the total budget represents the value found in part a.
c. To determine how much money will be spent on rent and utilities, we can substitute the value of the total budget into the expression from part b. So, rent and utilities cost = 0.25 * $118,250. To calculate this, multiply the total budget by 0.25 using a calculator. The result will give you the amount of money that will be spent on rent and utilities.
d. If an investor contributes $22,250 to your budget, this additional amount will need to cover the cost of rent and utilities. To determine if the investor has contributed enough money, we need to compare the total amount contributed by the investor with the cost of rent and utilities. In this case, we compare $22,250 with the cost calculated in part c. If the investor's contribution is greater than or equal to the cost of rent and utilities, then the investor has contributed enough money.
We can write an inequality to represent this situation. Let I be the amount contributed by the investor. The inequality can be written as I ≥ 0.25 * $118,250.
e. To determine the remaining funds after paying for rent and utilities, we need to subtract the cost of rent and utilities from the total budget. The remaining funds can be calculated by subtracting the value found in part c from the total budget calculated in part a. The result will give you the amount of money left after paying for rent and utilities.