To determine how much you will owe your parents, you need to calculate the additional profit you will make and check if it is more than $600.
Additional profit = $300
Earnings above $600 = Additional profit - $600 = $300 - $600 = -$300
Since the earnings above $600 is negative, it means you did not make more than $600 additional profit. Therefore, you do not owe your parents anything.
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.
If so, determine how much you will owe your parents.
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