Answer the questions below. Use Equation Editor when writing or solving mathematical expressions or equations. First, save this file to your hard drive by selecting SAVE AS from the File menu. Click the white space below each question to maintain proper formatting.
Part A.
A certain Metropolitan area is building a new Performing Arts Center with two auditoriums to be used as concert venues.
Budget:$91,300,000 for construction costs $4,375,000 for purchase of the land.
1)What integer would represent the total cost of the project?
2)Thirty-nine percent of the construction costs will be used for labor. Write an algebraic expression that indicates how much money will be spent on labor. Do not solve.
3)How much money will be spent on labor? Show how you arrived at your answer.
At the completion of the project, it was determined that the project exceeded the budget by 3.5%.
4)How much additional money did the project cost? Show how you arrived at your answer.
5)What was the final cost of the project? Show how you arrived at your answer.
1) The total cost of the project can be found by adding the construction costs and the cost of land:
Total cost = Construction costs + Cost of land
Total cost = $91,300,000 + $4,375,000
Total cost = $95,675,000
Therefore, the integer that represents the total cost of the project is $95,675,000.
2) The amount of money spent on labor can be represented by the equation:
Money spent on labor = 39% of Construction costs
3) To find the amount of money spent on labor, we need to substitute the value of the construction costs into the equation from step 2:
Money spent on labor = 39% of $91,300,000
Money spent on labor = (0.39) * $91,300,000
4) To find the additional money the project cost, we can multiply the total cost of the project by the excess percentage:
Additional money = 3.5% of Total cost
Additional money = (0.035) * Total cost
5) The final cost of the project can be found by adding the total cost and the additional money:
Final cost = Total cost + Additional money
Final cost = Total cost + (0.035) * Total cost
Final cost = Total cost * (1 + 0.035)
1) To calculate the total cost of the project, you need to add the construction costs ($91,300,000) and the land purchase costs ($4,375,000).
Total cost of the project = Construction costs + Land purchase costs
Total cost of the project = $91,300,000 + $4,375,000
The integer that represents the total cost of the project is $95,675,000.
2) To write an algebraic expression that indicates how much money will be spent on labor, you can multiply the construction costs by 39%, which represents the percentage used for labor.
Algebraic expression: 0.39 * Construction costs
3) To calculate how much money will be spent on labor, you need to substitute the construction costs into the algebraic expression you wrote in question 2.
Money spent on labor = 0.39 * Construction costs
Money spent on labor = 0.39 * $91,300,000
To calculate this algebraic expression, you can use Equation Editor or a calculator.
4) To calculate how much additional money the project cost, you need to find 3.5% of the original budget (total cost of the project).
Additional money = 3.5% of Total cost of the project
To calculate this, you can multiply the total cost of the project by 3.5% (0.035).
Additional money = 0.035 * Total cost of the project
Additional money = 0.035 * $95,675,000
Again, you can use Equation Editor or a calculator for this calculation.
5) To find the final cost of the project, you need to add the original budget (total cost of the project) to the additional money calculated in question 4.
Final cost of the project = Total cost of the project + Additional money
Final cost of the project = $95,675,000 + (0.035 * $95,675,000)
You can calculate this value using Equation Editor or a calculator.