A company is offering to pay a stadium $750,000 per year for naming rights. If the administrative costs for this sponsorship are
$63,000, what are the costs as a percentage of the revenue for the stadium-naming sponsorship? (Round to the nearest percent.)
1 answer:
Answer: The costs are 8.4% of the total revenue.
The stadium is going to make $750,000 for the naming rights of the stadium. The cost to the stadium is on $63,000.
To find the percent, we have to divide the two values and multiply by 100.
63000 / 750000 x 100 = 8.4%
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