Math 117 Week 2

Algebra 1A

1. 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.

a. What integer would represent your total budget?

$118,250

b. 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.

0.25($118,250)

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

$29,562.50. Explanation: 0.25 is the decimal equivalent of 25%. The answer can be obtained by multiplying $118,250, the answer to part a, by 0.25.

d. Imagine an investor has increased your budget by $22,500. The investor does not need to be repaid. Rather, he becomes part owner of your business. Will the investor contribute enough money to meet the costs of rent and utilities? Support your answer, and write an equation or inequality that illustrates your answer.

No, the investor did not contribute enough money to pay for the rent and utilities. These costs total $29,562.50 (answer to part c). Since $29,562.50>$22,500, the investor did not meet these needs.

e. This equation illustrates your remaining funds after paying for rent and utilities. How much money is left? Explain how you arrived at your answer.

$38,250 + $80,000+ $22,250-0.25($80,000 + $38,250) = $110,937.50

2. You are trying to decide how to most efficiently use your oven. You do not want the oven running at a high temperature when you are not baking, but you also do not want to waste a lot of time waiting for the oven to reach the desired baking temperature. The instruction manual on the industrial oven suggests the oven temperature will increase by 45 degrees Fahrenheit per minute. When the oven is turned off, the temperature is 70 degrees Fahrenheit. What...