Question

Fred has a great idea for a new product. However, he can only invest $11,919 to start up the company. He asks a three other

individuals to invest in his company. The other three investors bring the total investment to start the company to $285,763.
What percent of the company does the three other individuals own? Round your answer to the nearest tenth of a percent.

Answer 1

Explanation:

First, we need to find out how much money the three other individuals invested in the company. To do that, we'll subtract Fred's investment from the total investment:

Total investment = 285,763

Fred's investment = 11,919

Investment from the three other individuals = Total investment – Fred's investment

Investment from the three other individuals = 285,763 – 11,919

Investment from the three other individuals = 273,844

Now, to calculate the percentage of ownership for the three individuals, we'll divide their combined investment by the total investment and multiply by 100:

Percentage of ownership = (Investment from the three other individuals / Total investment) * 100

Percentage of ownership = (273,844 / 285,763) * 100

Percentage of ownership ≈ 95.8%

So, the three other individuals own approximately 95.8% of the company. Since the question asks to round to the nearest tenth, the answer is 95.8%.

Answer 2

He owns about 4.17% or 4% so the others own about 95.83% or 96% but sense it rounds to the nearest tenth your answer would be 95.8%

Explanation:

You can figure this out by doing 11,919 divided by 285,763 in order to figure out the percentage of the company he owns and then just do 100 - your answer.