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Business Math. Math . Math. Sale/Tipping. 72/Simple. Compound. 100. 100. 100. 100. 100. 100. 100. 100. 100. 100. 100. 100. 100. 200. 200. 200. 200. 200. 300. 300. 300. 300. 300. 400. 400. 400. 400. 400. 500. 500. 500. 500. 500. $45.4 5 6

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  1. Business Math Math Math Sale/Tipping 72/Simple Compound 100 100 100 100 100 100 100 100 100 100 100 100 100 200 200 200 200 200 300 300 300 300 300 400 400 400 400 400 500 500 500 500 500

  2. $45.456 Round to the Hundredths Place

  3. $45.46

  4. Express 15% as a Decimal

  5. .15

  6. The Answer is: What is .015 Expressed as a Percent?

  7. 1.5%

  8. What is .001 Expressed as a Percent?

  9. .1%

  10. What is 100% Expressed as a Decimal?

  11. 1

  12. What is 6 7/34 as a decimal?

  13. 6.206

  14. Round the following number to the thousandths place 2,345.98763

  15. 2,345.988

  16. Round the following number to the nearest Hundreds place. 5,398.85432

  17. 5,400.00

  18. What is 78.5 as a percent?

  19. 7850 %

  20. What is 1734.835% as a decimal? DAILY DOUBLE

  21. 17.3485

  22. How do you determine the sale price of an item?

  23. Sale Price = Regular Price - Markdown

  24. Davon has a 35% off coupon and is purchasing a new dress shirt for $45.00. What is the sale price of the shirt?

  25. 45.00(.35) = $15.75 $45.00 – $15.75 = $29.25

  26. When you are tipping, what is the subtotal amount?

  27. The subtotal is the bill before tax.

  28. The subtotal of the bill came to $235.98. Calculate the sales tax, calculate a 18% tip on the subtotal and the sales tax. There are 9 people in your party, how much does each owe? DAILY DOUBLE

  29. 235.98(.07) = 16.52 235.98 + $16.52 = 252.50 252.50(.18) = 45.45 252.50+45.45= 297.95 297.95/9= $33.12

  30. When eating out with a large party, what is the first thing you should figure out when your group receives the bill?

  31. Has the tip/gratuity already been added on the bill!!!

  32. What does the rule of 72 tell you?

  33. It is a quick and easy way to estimate how long it will take your money to double in value.

  34. At a 6.5% interest rate, how long will it take your money to double?

  35. 72/6.5 = 11.08 Years

  36. If you have $10,000 today and want to double your money in 5 years, what interest rate do you need?

  37. 72/5 = 14.4%

  38. You have $3,000, at an 7.3% interest rate. How much interest would you earn after 254 days? (Simple Interest)

  39. SI = P R T T= 254/365 = 0.696 SI= 3000(.073)(.696) SI=$152.42

  40. You earned a total of $643.23 in interest. You invested $3,213 at a rate of 12%. How long did your money stay invested? (Simple Interest)

  41. SI= P R T 643.23= 3,213(.12)T 643.23= 385.56T T= 1.67 Years

  42. Break down as many different time periods into which a sum of money can be compounded? Provide at least 4

  43. Daily, Weekly, Monthly, Annually, Quarterly, Semi-annually

  44. If the interest rate is 22.99%. What effective interest rate would you use in your calculation if it is compounded weekly?

  45. 22.99% = .2299 .2299/52= .00442 or .442%

  46. You invest $4,000 dollars at 6.5% for 1 year. The interest is compounded quarterly. How much would you earn in interest at the end of the year?

  47. Q1 – 4,000(.01625)= 65.00 Q2 – 4,065(.01625)= 66.06 Q3 – 4,131.06(.01625)= 67.13 Q4 – 4,198.19(.01625)= 68.22 End of year 1 - $4,266.41 Total Interest Earned - $266.41

  48. You invested $1,000 in an account at 7% interest for 3 months. The interest is compounded monthly. How much would you earn in interest?

  49. 7% = .07/12 = .00583 M1 – 1,000(.00583)= 5.83 M2 – 1,005.83(.00583)= 5.86 M3 – 1,011.69(.00583)= 5.90 End of 3 months - $1,017.59 Total Interest Earned - $17.59

  50. Marvin saved like a mad man and was able to save $6,000. He found an account that pays 6% and is compounded semi-annually. He can only invest his money for a year and a half. How much interest would he earn?

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