if company 2 lease/maintenance totals $125,000 for the year and company 1 spends 27% for lease/maintenance, how much is company 1 paying for their lease/maintenance?
27% of what?
To find out how much Company 1 is paying for their lease/maintenance, we can use the given information that Company 2's lease/maintenance totals $125,000 for the year, and Company 1 spends 27% for lease/maintenance.
First, we need to calculate the amount spent by Company 1 on lease/maintenance. We do this by multiplying the lease/maintenance total of Company 2 ($125,000) by the percentage spent by Company 1 (27% expressed as a decimal).
Amount spent by Company 1 = Company 2 lease/maintenance total * Company 1 percentage
= $125,000 * 0.27
Calculating this:
Amount spent by Company 1 = $33,750
Therefore, Company 1 is paying $33,750 for their lease/maintenance.