Korey is planning to open a comic book store. he has developed the following expense breakdown for set-up and operation for the first year. korey has $8,500 in savings and $25,000 in inheritance money to use to open his store. if korey doesn’t make any changes to his initial expenses, what percent of the total set-up and operation expense will have to be funded through loans or investors?

expense
amount
rent
$10,800
insurance
$3,000
store fixtures
$2,700
computer and cash register
$1,200
inventory
$17,400

a.
4.6%
b.
9.5%
c.
45.6%
d.
95.4%

4.6 % is the percent of the total set-up and operation expense will have to be funded through loans or investors .

Option (a) is correct .

Step-by-step explanation:

As given

Korey is planning to open a comic book store.

Korey has $8,500 in savings and $25,000 in inheritance money to use to open his store.

Total amount money Korey have =  Saving money + Inheritance money

                                                       =  $8500 +  $25000

                                                       = $33500

As given

The expenses of Korey for opening a comic book store.

Amount  Rent-  $10800 ,Insurance  - $3000 ,Store Fixtures  -$2,700

Computer and Cash Register - $1,200 , Inventory  - $17400

Total amount of expenses = Rent amount + Insurance amount + Store Fixtures amount + Computer and Cash Register amount + Inventory  amount

Total amount of expenses  = $10800 + $3000 + $2700 + $1200 + $17400

                                            = $35100

Thus

Fund taken through loans and investor = Total amount of expenses - Total amount money Korey have

Putting the value in the above

Fund taken through loans and investor = $35100 -  $33500

                                                                 = $1600

Formula

Percentage = 4.6 % (Approx)

Therefore the 4.6 % is the percent of the total set-up and operation expense will have to be funded through loans or investors .

Option (a) is correct .

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step-by-step explanation:

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