Answer :
Answer:
1. $97,500
2. 40.9%
3. $24,375
4. 14.77%
Explanation:
Given the following data;
Amount of money owned (Savings account) = $67,500
Total amount required = $165,000
To find the amount needed from investors to start the business;
Let the balance = X
[tex] Total = Savings + X[/tex]
Substituting into the equation, we have;
[tex] 165,000 = 67,500 + X[/tex]
[tex] X = 165,000 - 67500[/tex]
X = $97,500
To find the percentage of ownership;
Percent ownership = savings/total * 100
Substituting the values into the equation;
[tex] Percent \; ownership = \frac {67500}{165000} * 100[/tex]
[tex] Percent \; ownership = 0.409 * 100[/tex]
Percent ownership = 40.9%
To find the amount to be invested by each of the four investors;
Investor = X/4
Substituting into the equation, we have
Investor = 97500/4
Investor = $24,375
Therefore, each of the investors will need to invest $24,375.
Percentage for each investor;
[tex] Percent = \frac {24375}{165000} * 100[/tex]
Percent = 14.77%
Answer:
1. $97,500
2. 40.9%
3. $24,375
4. 14.77%
Explanation:
Given the following data;
Amount of money owned (Savings account) = $67,500
Total amount required = $165,000
To find the amount needed from investors to start the business;
Let the balance = X
Substituting into the equation, we have;
X = $97,500
To find the percentage of ownership;
Percent ownership = savings/total * 100
Substituting the values into the equation;
Percent ownership = 40.9%
To find the amount to be invested by each of the four investors;
Investor = X/4
Substituting into the equation, we have
Investor = 97500/4
Investor = $24,375
Therefore, each of the investors will need to invest $24,375.
Percentage for each investor;
Percent = 14.77%
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