Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 1 - Problem Solving and Critical Thinking - Chapter 1 Test: 11

Answer

Each person needs to contribute about $25,000.

Work Step by Step

The cost to open the business is 485,000 dollars. An estimate of this is about 500,000 dollars. Since there are 19 people in the business, we can round this to 20. If we divide 500,000 by 20, we get 25,000 dollars per person as an estimate investment.
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