Question

It is estimated that construction of this pool area will cost $75,000. A large corporation donated $35,000 toward the construction of the pool, and an additional $2,000 was earned during a local fund-raising activity. If 20 local businesses agree to donate the rest of the money, which of the following represents the average amount each business will have to contribute?

a) $1,500
b) $2,000
c) $2,500
d) $3,000

Answer 1

After subtracting the donations already made from the total cost, we find the remaining amount needed is $38,000. Dividing this by 20 local businesses gives us $1,900, which is the average amount each business would need to contribute.

Step-by-step explanation:

The question posed involves a basic arithmetic problem, specifically in the realm of finance and division. We are tasked with determining the average amount each of 20 local businesses would have to contribute to reach the required goal for the construction of a pool.

First, we need to calculate the total amount of money still needed after taking into account the donations already received. A corporation donated $35,000 and an additional $2,000 was raised through fundraising. Thus, we subtract these amounts from the total estimated cost: $75,000 - $35,000 - $2,000 = $38,000 remaining.

Now, if 20 local businesses are to cover this remaining cost equally, we divide the remaining amount by the number of businesses: $38,000 / 20 = $1,900 per business. This calculation provides the answer, which was not explicitly listed in the multiple-choice options provided above.