Chapter 7: Problem 107
Is the number 1.4 less than or greater than \(100 \% ?\)
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Chapter 7: Problem 107
Is the number 1.4 less than or greater than \(100 \% ?\)
These are the key concepts you need to understand to accurately answer the question.
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A salesperson receives a weekly salary of \(\$ 100,\) plus a \(5.5 \%\) commission on sales. Her salary last week was \(\$ 1090 .\) What were her sales that week?
Anne borrowed 4500 dollar from a bank that charges \(10 \%\) simple interest. If she repays the loan in \(2 \frac{1}{2}\) years, how much will she have to pay back?
It is customary to leave a \(15-20 \%\) tip for the server in a restaurant. However, when you are at a restaurant in a social setting, you probably do not want to take out a pencil and piece of paper to figure out the tip. It is more socially acceptable to compute the tip mentally. Try this method. Step 1: First, if the bill is not a whole dollar amount, simplify the calculations by rounding the bill to the next-higher whole dollar. Step 2: Take \(10 \%\) of the bill. This is the same as taking one-tenth of the bill. Move the decimal point to the left 1 place. Step 3: If you want to leave a 20\% tip, double the value found in step 2. Step 4: If you want to leave a \(15 \%\) tip, first note that \(15 \%\) is \(5 \%+10 \% .\) Therefore, add one-half of the value found in step 2 to the number in step 2 . Estimate a \(20 \%\) tip on a bill of \(\$ 57.65\) (Hint: Round up to \$58 first.)
Gloria borrowed 400 dollar for 18 months at \(8 \%\) simple interest. a. How much interest will Gloria have to pay? b. What will be the total amount that she has to pay back?
The amount of 12,000 dollar is invested at \(8 \%\) for 1 year. a. Compute the ending balance if the bank calculates simple interest b. Compute the ending balance if the bank calculates interest compounded quarterly. c. How much more interest is earned in the account with compound interest? (TABLE CAN NOT COPY)
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