Starting your own business can be exciting and daunting at the same time. Busine

Question

Starting your own business can be exciting and daunting at the same time. Businesses use math when managing finances, determining production levels, designing products and packaging, and monitoring labor. A bakery can be a highly profitable and rewarding business. You will use 25% of your budget to rent business space and pay for utilities.

Initial Budget:
$80,000 loan from family
$38,250 small business loan from bank
All loans to be repaid in 10 years

c. How much money will rent and utilities cost? Explain how you arrived at this answer. .25($80,000+$38,250)=y ???

Explanation / Answer

your intuition is correct 25% = 0.25 0.25 * budget = 0.25 * (80000 + 38250) = 29562.50

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