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You are planning to finance your start-up with a bank loan of $400,000 and equal contributions of $50,000 each in cash from a group of partners. You need $1.2M for the start-up. How many partners, not including yourself, do you need to recruit?
0: You are planning to finance your start-up with a bank loan of $400,000 and equal contributions of $50,000 each in cash from a group of partners. You need $1.2M for the start-up. How many partners, not including yourself, do you need to recruit?


a) 13
b) 14
c) 15
d) 16

Respuesta :

Answer: c) 15

Explanation: Suppose that the number of partners you have to recruit for your start-up is P.

You have a loan of 400,000 and each partner will contribute with 50,000.

The total you need is 1.2M, which is 1.2.[tex]10^{6}[/tex].

Expressing it in a mathematical equation would be:

total = loan + partners' contribution

1.2.[tex]10^{6}[/tex] = 4.[tex]10^{5}[/tex] + 5.[tex]10^{4}[/tex]P

5.[tex]10^{4}[/tex]P = 1.2.[tex]10^{6}[/tex] - 4.[tex]10^{5}[/tex]

Now, to subtract, you have to put the numbers with the same scientific notation:

5.[tex]10^{4}[/tex]P  = 12.[tex]10^{5}[/tex] - 4.[tex]10^{5}[/tex]

P = [tex]\frac{8.10^{5} }{5.10^{4} }[/tex]

P = 16

So, to pay the $1.2M for the start-up, you would need 16 partners. Since, you are one of them, you need to recruit 15 partners.

Answer:

D.) 16

Explanation:

Took the test and that was the right answer.

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