What percentage of ownership does Moore have if the total price is $120,000, Davis contributes 40%, and Hernandez contributes $22,500?

What percentage of ownership does Moore have if the total price is $120,000, Davis contributes 40%, and Hernandez contributes $22,500?

• A. 39.0%
• B. 41.2%
• C. 30.5%
• D. 45.5%

Answer: (B)

To determine Moore's percentage of ownership, we first need to find out how much total contribution has been made by Davis and Hernandez to the price of the property, which is set at $120,000. Davis contributes 40% of the total price: - Calculating Davis's contribution: \[ 120,000 \times 0.40 = 48,000 \] Hernandez contributes a fixed amount of $22,500. Now, we can calculate the total contributions made by Davis and Hernandez: \[ 48,000 + 22,500 = 70,500 \] Next, we find out how much is remaining to be contributed for the total ownership of $120,000: \[ 120,000 - 70,500 = 49,500 \] Since Moore's share is the remaining amount of $49,500, we now calculate Moore's percentage of total ownership by taking Moore's contribution divided by the total price of the property: \[ \text{Percentage of ownership} = \left(\frac{49,500}{120,000}\right) \times 100 = 41.25\% \] Rounding this result gives us approximately

To determine Moore's percentage of ownership, we first need to find out how much total contribution has been made by Davis and Hernandez to the price of the property, which is set at $120,000.

Davis contributes 40% of the total price:

• Calculating Davis's contribution:

[

120,000 \times 0.40 = 48,000

]

Hernandez contributes a fixed amount of $22,500.

Now, we can calculate the total contributions made by Davis and Hernandez:

[

48,000 + 22,500 = 70,500

]

Next, we find out how much is remaining to be contributed for the total ownership of $120,000:

[

120,000 - 70,500 = 49,500

]

Since Moore's share is the remaining amount of $49,500, we now calculate Moore's percentage of total ownership by taking Moore's contribution divided by the total price of the property:

[

\text{Percentage of ownership} = \left(\frac{49,500}{120,000}\right) \times 100 = 41.25%

]

Rounding this result gives us approximately