Answer:
The venue has to host 47 events throughout the year
Step-by-step explanation:
Profit:
Profit is revenue subtracted by costs.
Per event:
$100,000 revenue
$50,000 costs
$100,000 - $50,000 = $50,000 profit.
If the venue wants to make a total profit margin of $2,350,000, how many events does the venue have to host throughout the year?
1 event - $50,000 profit.
x events - $2,350,000 profit.
The venue has to host 47 events throughout the year
Answer:
1%
Step-by-step explanation:
We use the simple interest equation of A=P(1+rt).
A-the total amount with interest earned
P-the initial amount or principal
r-rate
t-time in years
We substitute the values P=6900, A=6923, and t=0.33 since 4 months divided by 12 months is 0.333 years. We then solve for r.
Our final step is to divide both sides by 0.33.
This is the decimal of the rate. We convert to a percentage by multiplying by 100. 0.01(100)=1%.