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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

Suppose that at age 25 , you decide to save for retirement by depositing \(\$ 50\) at the end of each month in an IRA that pays \(5.5 \%\) compounded monthly. a. How much will you have from the IRA when you retire at age \(65 ?\) b. Find the interest.

a. Suppose that between the ages of 22 and 40 , you contribute \(\$ 3000\) per year to a \(401(\mathrm{k})\) and your employer contributes \(\$ 1500\) per year on your behalf. The interest rate is \(8.3 \%\) compounded annually. What is the value of the \(401(\mathrm{k})\), rounded to the nearest dollar, after 18 years? b. Suppose that after 18 years of working for this firm, you move on to a new job. However, you keep your accumulated retirement funds in the \(401(\mathrm{k})\). How much money, to the nearest dollar, will you have in the plan when you reach age \(65 ?\) c. What is the difference between the amount of money you will have accumulated in the \(401(\mathrm{k})\) and the amount you contributed to the plan?

In Exercises 1-10, \((n)\) a. Find the value of each annuity. Round to the nearest dollar. b. Find the interest. $$ \begin{array}{|l|l|l|} \hline \text { Periodic Deposit } & \text { Rate } & \text { Time } \\ \hline \begin{array}{l} \$ 2000 \text { at the end of } \\ \text { each year } \end{array} & \begin{array}{l} 5 \% \text { compounded } \\ \text { annually } \end{array} & 20 \text { years } \\ \hline \end{array} $$

Exercises 3-4 involve credit cards that calculate interest using the average daily balance method. The monthly interest rate is \(1.2 \%\) of the average daily balance. Each exercise shows transactions that occurred during the June 1 -June 30 billing period. In each exercise, a. Find the average daily balance for the billing period. Round to the nearest cent. b. Find the interest to be paid on July 1, the next billing date. Round to the nearest cent. c. Find the balance due on July 1 . d. This credit card requires a \(\$ 30\) minimum monthly payment if the balance due at the end of the billing period is less than \(\$ 400\). Otherwise, the minimum monthly payment is \(\frac{1}{25}\) of the balance due at the end of the billing period, rounded up to the nearest whole dollar. What is the minimum monthly payment due by July 9? $$ \begin{array}{|l|c|} \hline \text { Transaction Description } & \text { Transaction Amount } \\ \hline \text { Previous balance, } \$ 2653.48 & \\ \hline \text { June } 1 \quad \text { Billing date } & \\ \hline \text { June } 6 \quad \text { Payment } & \$ 1000.00 \text { credit } \\\ \hline \text { June } 8 \quad \text { Charge: Gas } & \$ 36.25 \\ \hline \end{array} $$$$ \begin{array}{|ll|l|} \hline \text { June } 9 & \text { Charge: Groceries } & \$ 138.43 \\ \hline \text { June 17 } & \begin{array}{l} \text { Charge: Gas } \\ \text { Charge: Groceries } \end{array} & \$ 42.36 \\ \hline \text { June } 27 & \text { Charge: Clothing } & \$ 214.83 \\ \hline \text { June } 30 & \text { End of billing period } & \\ \hline \text { Payment } & \text { Due Date: July } 9 & \\ \hline \end{array} $$

Suppose your credit card has a balance of \(\$ 3600\) and an annual interest rate of \(16.5 \%\). You decide to pay off the balance over two years. If there are no further purchases charged to the card, a. How much must you pay each month? b. How much total interest will you pay?

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