Week 2 Application - Balloon Fiesta
A grand tradition here in New Mexico is the Balloon Fiesta which starts on the first Saturday of October and ends on the following Sunday. It is a beautiful spectacle with over 700 hot-air balloons launching on the mass ascension. Those who attend the mass ascensions have a choice of local food vendors to warm their stomachs in those cold, crisp mornings. One local vendor will be selling Green Chile Stew, Peanut Butter and Chocolate Chip cookies.
Answer the following questions. Use Equation Editor on each question to show your answer, show all of your work from problem statement through the solution steps to the final result. First, save this file to your hard drive by selecting Save As from the File menu. Click the white space below each question to insert your answer to maintain proper formatting. When your document is complete, submit it as a Word document attachment to your Assignments page.
1. The vendor will rent a booth on the Balloon Fiesta grounds. His budget consists of a $35,000 loan from his family and a $19,500 small business loan.
a) What integer would represent his total budget?
$35,000 + $19,500 = $54,500(answer)
b) Twenty-five percent of your budget will be used to rent the booth. Write an algebraic expression that indicates how much money will be spent on the booth rental. Do not solve.
25% of 54,000
0.25 * 54,000(answer)
c) How much will the booth rental cost? (Simplify completely the algebraic expression from 1b).
54000 * 0.25 = $13,500(answer)
d) Another vendor, who sells coffee and hot cocoa, would like to operate from the original vendor’s space. He will pay twenty percent of the booth rental cost. How much will the smaller vendor pay to sell his coffee and hot cocoa?
54000 * 0.20 = $10,800(answer)
e) This equation illustrates his remaining funds after paying for the booth rental and the small vendor’s...