Gwen Osterhaus and Portia Juarez have formed a partnership to open a garden coffee cafe in Central Park. Gwen invest $23,000 and Portia invests $31,000. They get a micro loan from the Small Business Administration for $18,500. They have $9,000 of credit from the Bean Machine Company that sold them some of their equipment. Calculate the total amount of start-up financing available to the partnership. Make a pie chart that shows the percentage of total financing that is provided from each source. How much of the financing is owner supplied and how much is borrowed?

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topeadeniran2 topeadeniran2 · Answer 1 · 2021-12-21T19:54:09+01:00

Based on the information given, the financing that's owner supplied will be $54000 while the ones that's borrowed will be $27500.

The total amount of start-up financing that's available to the partnership will be:

Amount invested by Gwen = $23,000

Amount invested by Portia = $31,000.

Micro loan from the Small Business Administration = $18,500

Credit from the Bean Machine = $9,000

Total amount = $81500

The percentage provided by each source will be:

Gwen = 23,000 / 81500 = 28.22%

Portia = 31,000 / 81500 = 38.04%

Micro loan from the Small Business Administration = 18,500 / 81500 = 22.70%

Bean Machine = 9,000/ 81500 = 11.04%

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