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Splash Screen Chapter 5 Lesson 59 (over Lesson 5-7) Use the percent equation to find 24 is what percent of 20. A. 140% B. 183% C. 120% D. 180% A. B. C. D. A B C D (over Lesson 5-8) Find the percent of change from 25 to 28. Round to the nearest tenth if necessary. State whether the percent of change is an increase of a decrease. A. 10.7%; increase B. 10.7%; decrease C. 12%; increase D. 12%; decrease A. B. C. D. A B C D (over Lesson 5-8) Find the percent of change from 47 to 36. Round to the nearest tenth if necessary. State whether the percent of change is an increase or a decrease. A. 23.4%; decrease B. 23.4%; increase C. 30.6%; decrease D. 30.6%; increase 1. 2. 3. 4. A B C D (over Lesson 5-8) Find the selling price for a book if the cost to the store is $65 and the markup is 30%. A. $45.50 B. $46.15 C. $84.50 D. $95 1. 2. 3. 4. A B C D (over Lesson 5-8) Find the amount of discount for a $28 shirt that is on sale for 65% off the original price. A. $9.80 B. $18.20 C. $20.20 D. $65.00 1. 2. 3. 4. A B C D • Solve problems involving simple interest. • interest • principal • simple interest formula Standard 7NS1.7 Solve problems that involve discounts, markups, commissions, and profit and compute simple and compound interest. Key Concept Time Equivalents What are the decimal equivalents to these parts of a year? 2 mths 3 mths 4 mths 6 mths .17 .25 .33 .5 8 mths 9 mths 13/4 yr .67 .75 1.75 % Equivalents What are the decimal equivalents to these percents? 5% 8% 4.5% 7.4% 0.05 0.08 0.045 0.074 6.75% 9.1% .05% 0.0675 0.091 0.0005 Find Simple Interest Find the simple interest for $2,000 invested at 5.5% for 4 years. I = prt Write the simple interest formula. I = 2000 ● .055 ● 4 Replace p with 2,000, r with 0.055, and t with 4. I = 440 The simple interest is $440. Answer: $440 Find Simple Interest Find the simple interest for $230 invested at 12% for 8 years. I = prt Write the simple interest formula. I = 230 ● .12 ● 8 Replace p with 230, r with 0.12, and t with 8. I = 220.80 The simple interest is $220.80. Answer: $220.80 Find Simple Interest What is the total amount of money in an account where $95 is invested at a simple interest rate of 7.5% for 9 months. I = prt Write the simple interest formula. I = 95● .075 ● .75 I = 5.34375 Replace p with 95, r with 0.075, and t with .75 (3/4). The simple interest is $5.34. I + p = total account $5.34 + $95 Answer: $100.34 Find Simple Interest Find the total amount in an account that starts with $660 at 5.25% for 5 years. I = prt Write the simple interest formula. I = 660● 0.0525 ● 5 Replace p with 660, r with 0.0525, and t with 5 (years). I = 173.25 The simple interest is $173.25. I + p = total account $173.25 + $660 Answer: $833.25 Find the simple interest for $1,500 invested at 5% for 3 years. A. $160 B. $175 C. $215 D. $225 A. B. C. D. A B C D LOANS Jocelyn borrowed $3,070 from her bank for home improvements. She will repay the loan with 4.5% simple interest over the next five years. Find the simple interest of the loan. A. $69.75 B. $690.75 C. $609.75 D. $69.08 1. 2. 3. 4. A B C D Find the Total Amount Find the total dollar amount in an account where $80 is invested at a simple annual interest rate of 6% for 6 months. A. $41.20 B. $82.40 C. $84.80 D. $108.80 Find the total amount of money in an account where $60 is invested at 8% for 3 months. A. $60.30 B. $61.20 C. $62.20 D. $62.30 1. 2. 3. 4. A B C D