Facilitated by…… Anna Deroscar Briarcliffe College Decimal Notation, Ratio and Proportion & Percent Notation.
Chapter 6:Percent Notation 6. 1 Percent Notation 6.2 Percent and Fraction Notation 6.3 Solving Percent Problems Using Percent Equations 6.4 Solving Percent Problems Using Percent Proportions 6.5 Applications of Percents 6.6 Sales Tax, Commission and Discount 6.7 Simple and Compound Interest 68. Interest Rates on Credit Cards and Loans
Solving Percent Proportions Using Percent Equations Examples: $39 is what percent of $50? • Key Words Translation “Of”: translates to “multiplication” “What”: translates to “any letter”. “Is”: translates to: “= sign” % translates to: “
Solving Percent Problems Using Percent Proportion • Proportion Set-Up Example: • What percent of $80 is $60? • Proportion Set-Up Example: • $24 is what percent of $96?
Applications of Percents Example: From 1964 to 1997, of 133 panda cubs born in captivity, only 90 lived to be one month old. What percent lived to be one moth old? In 1999, Mark Edwards of the Sand Diego Zoo developed a nutritional formula on which 18 of 20 newborns lived to be one month old. What percent lived to be one month old?
Sales Tax Round to the nearest hundredth, we are dealing with money • Sales Tax Sales tax= Sales tax rate x Purchase Price Total Price = Purchase Price + Sales Tax Example: The sales tax rate in New Jersey is 6%. • How much sales tax would be charged on a copy of John Grisham’ s novel “A Painted House, which sells for $27.95? • What is the total cost to purchase the book?
Commission Commission= Commission rate x Sales Example: • Katrina’s commission rate is 6%. What is the commission from the sales of $45,000 worth of furnaces Commission rate= Example: Mitchell earns $120 selling $2400 worth of television sets in a consignment shop. What is the commission rate
Discount • Discount and Sales Price Discount= Rate of discount x Original Price Sale Price= Original price - Discount Example: • Jennifer is going to purchase a Gucci Bag during the Black Friday week? The original price is $2000 dollars but she has a discount coupon of 40 %. What is her discount? • What will be Jennifer’s total cost to purchase the her Gucci Bag?
Simple Interest • Simple Interest Formula What is the simple interest for $200 invested at an interest rate of 7.7% for ½ year? I= Simple interest P= principal R= rate T = time (years)
Compound Interest • Compound Interest Formula Find the amount in an account if $40,000 is invested at 7.7% semi-annually for 4 year? A= Compound Interest Formula P= principal r= rate t = time (years) n = how its compound
Interest Rates on Credit Cards and Loans • After graduating the balance on Ricky’s Stafford loan is $38,970. To pay off the loan at 3.37%, he will make 120 payments of approximately $382.99 each. • Find the amount of interest and the amount applied to reduce the principal in the first payment. • If the interest rate were 5.4%, he would make 120 monthly payments of approximately $421 each. How much more of the first payment is interest if the loan is 5.4% rather than 3.7%? • Compare the total amount of interest on the loan at 3.37% with the amount on the loan at 5.4%. How much more would Ricky pay on the 5.4% loan than on the 3.37% loan