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3 years ago

Nick and Matt are the partners in a local health food store. They

Business

1 answer:

Grace [21]3 years ago

8 0

a. The amount that each invested is: Nick $21,900; Matt $51,100.

b. Percent of the business owned by Matt is 70%.

a. Amount invested by each

First step is to calculate the total parts

Total parts=3x + 7x

Total parts=10x

Second step is to calculate the cost per part(x)

Cost per part(x)=73,000/10

Cost per part(x)=7,300

Third step is to calculate the money invested by Nick and Matt

Money invested by Nick=3x

Money invested by Nick=3×7,300

Money invested by Nick=$21,900

Money invested by Matt=7x

Money invested by Matt=7×7,300

Money invested by Matt=$51,100

b. Percent owned by Matt

Using this formula

Percent owned by Matt =Part owned by matt/Total part

Let plug in the formula

Percent owned by Matt =7x/(3x+7x)

Percent owned by Matt=7x/10x

Percent owned by Matt=0.7×100

Percent owned by Matt =70%

Inconclusion the amount that each invested is Nick $21,900; Matt $51,100 and the percent of the business owned by Matt is 70%.

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