You have recently found a location for your bakery and have begun implementing the first phases of your business plan. Your budget consists of an $80,000 loan from your family and a $38,250 small business loan. These loans must be repaid in full within 10 years.

Question

You have recently found a location for your bakery and have begun implementing the first phases of your business plan. Your budget consists of an $80,000 loan from your family and a $38,250 small business loan. These loans must be repaid in full within 10 years. 
	
What integer would represent your total budget?

You will use 25% of your budget to rent business space and pay for utilities. Write an algebraic expression that indicates how much money will be spent on business space and utilities. Do not solve.

How much money will rent and utilities cost? Explain how you arrived at this answer.

helper · Answer

Budget 80,000---family loan 38,250---small business loan 118,250--Total budget 0.25(118,250) = Budget for rent and utilities 29,563---money spent for rent and utilities (0.25 of 118,250)