Question: Please explain step-by-step using equations to determine solution. Ray Holt seeks an investment for his new business. The investor will bear all the costs (fixed

Please explain step-by-step using equations to determine solution.

Ray Holt seeks an investment for his new business. The investor will bear all the costs (fixed + variable) and wants a rate of return of at least Y%. For the business fixed cost is Fc, selling price of a unit is Sp, and Cost of production of a unit is Cp. How many units, x, should Ray Holt make to meet the investors rate of return requirement? If the requested rate of return is 10%, fixed cost is $10,000, selling price is $5, and cost of production is $3, how many units should be made?

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