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Describe how to express a percent as a decimal number and give an example.

Short Answer

Expert verified
To convert a percent to a decimal, move the decimal point two places to the left. For example, 75% becomes 0.75.

Step by step solution

01

Definition of a Percent

A percent is a way of expressing a number as a fraction of 100. It's derived from the Latin 'per centum', which means 'by the hundred'. Therefore, if a number is given as a percentage, it's essentially that number divided by 100.
02

Conversion Process

To convert a number from a percentage to a decimal representation, divide the number by 100. Since dividing by 100 moves the decimal point two places to the left, you can achieve the same result by simply moving the decimal point two places to the left.
03

Example

For example, to convert 75% to a decimal, move the decimal point two places to the left: \(75.0\% = 0.75\) in decimal form.

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Percent Conversion
Understanding percent conversion is essential for many mathematical operations, including finance, statistics, and everyday calculations. A percent represents a value out of a total of 100, making it a ratio or fraction. To convert a percentage to a decimal, the concept is straightforward: divide the percentage by 100.

For instance, if you want to convert 20%, you divide 20 by 100, which equals 0.20. This process is as simple as moving the decimal point two places to the left. So 20% becomes 0.20, 55% turns into 0.55, and 100% is simply 1. By understanding this process, you can interpret percentages more intuitively as part of a whole.
Fraction of 100
The concept of a fraction of 100 is deeply tied with percentages. A fraction is a part of a whole, and when that whole is 100, it nicely aligns with the idea of a percentage.

Consider a pie divided into 100 equal pieces; each slice represents a one percent equivalent. When you have a higher percentage, you simply have more slices of the pie. Thus, a percentage can be viewed as a fraction where the denominator is always 100. To convert a fraction to a decimal, you would perform the division of the numerator by the denominator. For example, the fraction \(\frac{25}{100}\) is equivalent to 25% and also to the decimal 0.25.
Decimal Representation
Decimal representation allows us to express fractions and percentages in a form suitable for direct calculations and comparisons. A decimal number is a way to write numbers that are not whole, using a decimal point to separate the whole part from the fractional part.

When converting a percent to its decimal representation, you are, in essence, shifting the numerical value to align with the decimal system. This action effectively 'scales' the number down from a part of 100 to its value within a single whole unit. Since our number system is based on powers of 10, shifting the decimal point two places to the left effectively divides the number by 100, seamlessly converting a percentage to a decimal form.
Arithmetical Operations
Arithmetical operations include addition, subtraction, multiplication, and division. They are the foundation of mathematics and are used extensively in working with percentages and decimals.

When you're dealing with percents in calculations, it's often useful to convert them to decimals. This is because decimals are easier to work with in the four basic operations. For example, if you want to find what 15% of 50 is, you can convert 15% to a decimal (0.15) and multiply it by 50. This arithmetical operation simplifies the process and avoids dealing with fractions, leading to the same result with less complexity.

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Most popular questions from this chapter

Exercises 19 and 20 refer to the stock tables for Goodyear (the tire company) and Dow Chemical given below. In each exercise, use the stock table to answer the following questions. Where necessary, round dollar amounts to the nearest cent. a. What were the high and low prices for a share for the past 52 weeks? b. If you owned 700 shares of this stock last year, what dividend did you receive? c. What is the annual return for the dividends alone? How does this compare to a bank offering a \(3 \%\) interest rate? d. How many shares of this company's stock were traded yesterday? e. What were the high and low prices for a share yesterday? f. What was the price at which a share last traded when the stock exchange closed yesterday? g. What was the change in price for a share of stock from the market close two days ago to yesterday's market close? h. Compute the company's annual earnings per share using Annual earnings per share $$ \begin{array}{|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \text { 52-Week High } & \text { 52-Week Low } & \text { Stock } & \text { SYM } & \text { Div } & \text { Yld \% } & \text { PE } & \text { Vol 100s } & \text { Hi } & \text { Lo } & \text { Close } & \text { Net Chg } \\ \hline 73.25 & 45.44 & \text { Goodyear } & \text { GT } & 1.20 & 2.2 & 17 & 5915 & 56.38 & 54.38 & 55.50 & +1.25 \\ \hline \end{array} $$

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In Exercises 11-18, a. Determine the periodic deposit. Round up to the nearest dollar. b. How much of the financial goal comes from deposits and how much comes from interest? \(\$ ?\) at the end of each month \(7.5 \%\) compounded monthly 10 years \(\$ 250,000\)

Use this advice from most financial advisers to solve Exercises 11-12. \- Spend no more than \(28 \%\) of your gross monthly income for your mortgage payment. \- Spend no more than \(36 \%\) of your gross monthly income for your total monthly debt. Round all computations to the nearest dollar. Suppose that your gross annual income is \(\$ 36,000\). a. What is the maximum amount you should spend each month on a mortgage payment? b. What is the maximum amount you should spend each month for total credit obligations? c. If your monthly mortgage payment is \(70 \%\) of the maximum you can afford, what is the maximum amount you should spend each month for all other debt?

In order to pay for baseball uniforms, a school takes out a simple interest loan for \(\$ 20,000\) for seven months at a rate of \(12 \%\). a. How much interest must the school pay? b. Find the future value of the loan.

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