Question

Julie and Kristen are the partners in a local sporting goods shop. They needed $51,000 to start the business. They invested in the ratio 5:12, respectively. a. How much money did each invest? b. What percent of the business was owned by Kristin? Round to the nearest tenth of a percent.c. If the business grows to $3,000,000, what percent of it will Julie own? Round to the nearest tenth of a percent.

Answer 1

Answer:

See below.

Step-by-step explanation:

They invested in a ratio of Julie:Kristen of 5:12.

5 + 12 = 17

Julie invested 5/17 of the amount, and Kristen invested 12/17 of the mount.

a.

Julie: 5/17 * $51,000 = $15,000

Kristen: 12/17 * $51,000 = $36,000

b.

Kristen owns 12/17 of the business.

As a percent, 12/17 = 12/17 * 100% = 70.6%

c.

The percent of the business each owns does not change with the amount the company is worth.

Kristen owns 70.6%, so Julie owns 100% - 70.6% = 29.4%