Math8

Express the given percent as a decimal. 3/5

.006 (3 / 5 then move 2 decimal places)

Express the given percent as a decimal. 4/5%

.008

Write the percent as a decimal. 42.3​%

.423

Express the given percent as a decimal. 58%

.58

Express the given fraction as a percent. 1/10

10%

The principal P is borrowed at a simple interest rate r for a period of time t. Find the​ loan's future value​ A, or the total amount due at time t. P​ = ​$1000​, r​ = 4​%, t​ = 4 years

1160 1000(1+(0.04)(4)) =

Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. 13% compounded​ monthly; 13.25% compounded annually

13 monthly -> 13.8 an 13.25 an -> 13.25 an BETTER investment - 13% monthly

Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. 13.5% compounded​ monthly; 13.75% compounded annually

13.5 monthly -> 14.37 an 13.75 -> 13.75 BETTER investment - 13.5 comp monthly

A sofa regularly sells for $470. The sale price is $394.80. Find the percent decrease of the sale price from the regular price.

16% ( 470 - 394.8 = 75.2 75.2 / 470 = )

Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A​ = ​$2000​, r​ = 7​%, t​ = 2 years

1754.39 2000 = P[1 + 0.07(2)] 2000 = P (1.14) 2000 / 1.14 =

The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume there are 360 days in a year. P​ = ​$8000​, r​ = 1.5​%, t​ = 18 months

180 (8000)(0.015)(1.5) =

At the time of her​ grandson's birth, a grandmother deposits $5000 in an account that pays 6.5% compounded monthly. What will be the value of the account at the​ child's twenty-first​ birthday, assuming that no other deposits or withdrawals are made during this​ period?

19507 5000 (1 + 0.065/12) ^12(21)

Suppose that you borrow ​$2000.00 from a friend and promise to pay back ​$4000.00 in 5 years. What simple interest rate will you​ pay?

20% 4000 = 2000 [1+(5)r] 4000 = 2000 + 2000(5) 4000 = 2000 + 10000r 2000 = 10000 2000 / 10000 = 0.2

Use the percent​ formula, A=PB​: A is P percent of​ B, to answer the following question. 18% of ___ is 39.6​?

220 (39.6 / .18 = )

Write the decimal 2.33 as a percent.

233%

A bank offers a CD that pays a simple interest rate of 8.0​%. How much must you put in this CD now in order to have ​$3500 for a ​home-entertainment center in 4 years.

2651.52 3500 = p[1+0.08(4)] 3500 = P(1.32) 3500 / 1.32 =

Use the percent​ formula, A=PB​: A is P percent of​ B, to answer the following question. What is 7% of 400​?

28

Determine the present value P that must be invested to have the future value A at simple interest rate r after time t. A​ = ​$3000.00​, r​ = 12.0​%, t​ = 6 months

2830.19 3000 = P[1 + (0.12)(0.5)] 3000 = P (1.06) 3000 / 1.06

The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year. P​ = ​$6000​, r​ = 5​%, t​ = 1 year

300 (6000)(0.05)(1) =

The principal P is borrowed at a simple interest rate r for a period of time t. Find the​ loan's future value​ A, or the total amount due at time t. P​ = ​$27,000​, r​ = 6.0​%, t​ = 2 years

30240 27000(1+(0.06)(2))

Express the given decimal as a percent. 0.3272

32.72%

Express the given fraction as a percent. 3/8

37.5

Express the given percent as a decimal. 490%

4.9

The principal P is borrowed and the​ loan's future value A at time t is given. Determine the​ loan's simple interest rate r. P​ = ​$6000.00​, A​ = ​$6660.00​, t​ = 2 years

5.5 6660 = 6000(1+(2)r) 6660 = 6000 + 12000r 666 = 12000 (divide both sides by 12000)

The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year. P=​$16,500​ r=9​% t=150 days

618.75 (16500)(0.09)(150/360)

Express the given fraction as a percent. 3/4

75%

Use the percent formula A=PB to answer the question below. What percent of 7.5 is 0.6​?

8 (0.6 / 7.5 = )

The principal P is borrowed and the​ loan's future value A at time t is given. Determine the​ loan's simple interest rate r. P​ = ​$4000.00​, A​ = ​$5600.00​, t​ = 5 years

8 5600 = 4000(1+(5)r) 5600 = 4000 + 20000 1600 = 20000 (divide 20000 both sides then X 100)

Suppose you have $12,000 to invest. Which of the two rates would yield the larger amount in 3 years​: 8​% compounded monthly or 7.93% compounded​ continuously?

8% compounded monthly

How much money should be deposited today in an account that earns 4% compounded semiannually so that it will accumulate to $10,000 in three​ years?

8879.71

Use the percent​ formula, A=PB​, where A is P percent of​ B, to answer the following question. What is 19% of 50​?

9.5 (.19x50)

Express the given decimal as a percent. 0.92

92%

How much money should be deposited today in an account that earns 8.5% compounded monthly so that it will accumulate to $12,000 in three​years?

9307.36

What is a down​ payment?

A down payment is the portion of the sale price of the home that the buyer initially pays to the seller.

What is a​ mortgage?

A mortgage is a​ long-term installment loan for the purpose of buying a home.

How is the amount of a mortgage​ determined?

The amount of the mortgage is the difference between the sale price of the home and the down payment.

The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal - $3000 Rate - 4.5% Compounded - daily Time - 4.5 years A. Find how much money there will be in the account after the given number of years.​ (Assume 360 days in a​ year.) B. Find the interest earned.

a 3673.33 0.045 / 360 + 1 = 1.000125 1.000125^1620 = 1.22444458944 1.22444458944x3000 = b 673.33 3673.33-3000=

The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal Rate Compounded Time $3000 7.5% daily 4 years A. Find how much money there will be in the account after the given number of years.​ (Assume 360 days in a​ year.) B. Find the interest earned.

a 4049.45 b 1049.45

The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal - $9000 Rate - 4% Compounded - quarterly Time - 3 years A. Find how much money there will be in the account after the given number of years. B. Find the interest earned.

a. 10141.43 b. 1141.43

Find the accumulated value of an investment of $20,000 for 3 years at an interest rate of 5% if the money is a. compounded​ semiannually; b. compounded​ quarterly; c. compounded monthly d. compounded continuously. Round answers to the nearest cent.

a. 17142.38 15000 (1 + 0.045/2) ^2x3 b. 17155.12 15000 (1 + 0.045/4) ^4x3 c. 17163.72 15000 (1 + 0.045/12) ^12x3 d. 17168.05 15000(e^0.045x3)

The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal - $3000 Rate - 6% Compounded - annually Time - 4 years A. Find how much money there will be in the account after the given number of years. B. Find the interest earned.

a. 3787.43 b. 787.43

In order to start a small​ business, a student takes out a simple interest loan for ​$8000.00 for 6 months at a rate of 9.75​%. a. How much interest must the student​ pay? b. Find the future value of the loan.

a. 390 8000(0.0975)(0.5) b. 8390 8000[1+(0.0975)(0.5)] 8000(1.04875)

An exercise machine with an original price of $810 is on sale at 7% off. a. What is the discount​ amount? b. What is the exercise​ machine's sale​ price?

a. 56.7 b. 753.3

Suppose that the local sales tax rate is 3% and you purchase a car for $23,100. a. How much tax is​ paid? b. What is the​ car's total​ cost?

a. 693 b. 23793

Person A deposits ​$2650 in an account that pays 9​% interest compounded once a year. Person B deposits ​$2550 in an account that pays 10​% interest compounded monthly. Complete parts​ (a) through​ (c) below.

a. person a $71 b. person b $118 c .person b $3835

Person A deposits ​$2850 in an account that pays 6​% interest compounded once a year. Person B deposits ​$2350 in an account that pays 7​% interest compounded monthly. Complete parts​ (a) through​ (c) below

a. person a 501 more b. person a 483 more c. person b 351 more (go to notes)

Describe how to determine what you can afford for your monthly payment.

• 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, including mortgage​ payments, car​ payments, credit card​ bills, student​ loans, and medical debt.