Your parents heard about the success of your business and they want to help you out. Suppose they want to give you an additional $300 to put toward your business. However, there’s a catch. If you make more than $600 additional profit, you have to give them 10% of your earnings above $600. For example, if you have earned $650, then you owe 10% of $50, or $5, to your parents.

Question

Your parents heard about the success of your business and they want to help you out. Suppose they want to give you an additional $300 to put toward your business. However, there’s a catch. If you make more than $600 additional profit, you have to give them 10% of your earnings above $600. For example, if you have earned $650, then you owe 10% of $50, or $5, to your parents.

f)
Now that you have an additional $300, revise your inequality from part a to reflect your new spending limit. Solve this inequality. Make sure to round to the nearest dollar.

* Do not include the dollar symbol in the inequality

You can copy and paste the inequality sign below in your answer.
≥ < > ≤

*Make sure to solve the inequality and write x and an inequality sign in your answer.
*
1 point
x ≥ 300
Choose the graph of the solution to part f above
*
1 point
Captionless Image
Option A
Option B
Option C
Option D
Other:
g)
If you still sell your item for the same price, what is the most money you can hope to earn from your business now?
*
1 point
You can hope to earn 300 dollars if you sell your item for the same price.
h)
Will you have to pay your parents?
*
1 point
Yes
No
If so, determine how much you will owe your parents.
*
1 point

Answer 1

You will owe your parents $0, since the most money you can hope to earn is $300.

Answer 2

If you earn more than $600 additional profit, you will owe your parents 10% of the earnings above $600. So, if you earn x amount of additional profit, you will owe your parents 10% of (x - 600) dollars.

Answer 3

To revise the inequality to reflect the new spending limit, you need to add the $300 that your parents are giving you to the original spending limit of $600. This gives you a new spending limit of $600 + $300 = $900.

So, the revised inequality would be:

x ≤ $900

To solve this inequality, you need to round to the nearest dollar. Since the inequality symbol is "≤" (less than or equal to), it means that the maximum value of x is $900.

Therefore, you can hope to earn a maximum of $900 from your business now.

Since the amount you earned is less than $600 additional profit, you will not have to pay your parents. So, the answer is "No."