What percent of an iceberg is visible?
It’s a simple question. But like many questions in the real world, nothing is as simple as it seems.
The reason that ice floats is that there is a density difference between the ice and the water. And that density difference determines how much ice is above water and how much is below water. The density of the ice can be affected by any occluded bubbles, any rocks that are being carried along, and even any algae that is growing on it. The density of the water depends on how much salt is dissolved and the temperature. Different icebergs in different parts of the world will have different amounts above sea level.
The estimates range from about 1/7 to about 1/10. That should be good for almost all real icebergs.
The Independent Penguin sits on an iceberg constructed in my imagination as an ideal goal. There is no need to consider bubbles or rocks or algae or salt. There is no need to estimate. It’s my world. Your Independent Penguin can live in your world.
My Independent Penguin sits on an iceberg that has exactly 1/9 of the volume above sea level. It’s a very special point. Assuming that one can get a 5% return on investments and that one can safely spend 2.5 times the yearly income on the purchase price of a home it represents the point where the penguin can maintain it’s living standard with no earned income (8*0.05*2.5=1). That’s the point where the penguin becomes the Independent Penguin.