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Holt Algebra 1 2-9 Application of Percents Jules Henri Poincaré (1854-1912) France. Known as a mathematician, theoretical physicist, philosopher of science and engineer. He left an impact on pure and applied mathematics along with mathematical physics, and celestial mechanics. Poincaré quote: “The scientist does not study nature because it is useful; he studies it because he delights in it, and he delights in it because it is beautiful.”

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Holt Algebra 1 2-9 Application of Percents Warm Up 1. Write 0.03 as a percent. 2. Write as a decimal. Find each value. Round to the nearest tenth if necessary. 3. Find 10% of 53. 3% 0.045 5.3

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Holt Algebra 1 2-9 Application of Percents Use common applications of percents. Estimate with percents. Objectives

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Holt Algebra 1 2-9 Application of Percents Caution! You must convert a percent to a decimal or a fraction before doing any calculations with it.

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Holt Algebra 1 2-9 Application of Percents Example 1: Business Application Mr. Cortez earns a base salary of $26,000 plus a sales commission of 5%. His total sales for one year were $300,000. Find his total pay for the year. Write the formula for total pay. total pay = base salary + commission Write the formula for commission. Substitute values given in the problem. = 26,000 + 5% of 300,000 = base + % of total sales Write the percent as a decimal. = 26,000 + (0.05)(300,000) Multiply.= 26,000 + 15,000 Add.= 41,000 Mr. Cortez’s total pay was $41,000.

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Holt Algebra 1 2-9 Application of Percents Write the formula for total pay. total pay = base salary + commission Write the formula for commission. Substitute values given in the problem. = 350 + 12% of 940 = base + % of total sales Write the percent as a decimal. = 350 + (0.12)(940) Multiply.= 350 + 112.80 Add.= 462.80 The telemarketer’s total pay was $462.80. A telemarketer earns $350 per week plus 12% commission on sales. Find her total pay for a week in which her sales were $940. Check It Out! Example 1

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Holt Algebra 1 2-9 Application of Percents Interest is the amount of money charged for borrowing money, or the amount of money earned when saving or investing money. Principal is the amount borrowed or invested. Simple interest is interest paid only on the principal. Simple Interest Paid Annually Time in years Interest rate per year as a decimal Principal Simple interest

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Holt Algebra 1 2-9 Application of Percents Example 2A: Financial Application Find the simple interest paid for 3 years on a $2500 loan at 11.5% per year. I = Prt Write the formula for simple interest. I = (2500)(0.115)(3) Substitute known values. Write the interest rate as a decimal. I = 862.50 The amount of interest is $862.50. Multiply.

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Holt Algebra 1 2-9 Application of Percents Example 2B: Financial Application After 6 months, the simple interest earned on an investment of $5000 was $45. Find the interest rate. I = Prt Write the formula for simple interest. 45 = 2500r 0.018 = r The interest rate is 1.8%. Substitute the given values. Multiply 5000.. Since r is multiplied by 2500, divide both sides by 2500 to undo the multiplication.

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Holt Algebra 1 2-9 Application of Percents Helpful Hint When you are using the formula I= Prt to find simple interest paid annually, t represents time in years. One month is year.

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Holt Algebra 1 2-9 Application of Percents Check It Out! Example 2a Find the simple interest earned after 2 years on an investment of $3000 at 4.5% interest earned annually. I = Prt Write the formula for simple interest. I = 270 The interest earned is $270. Substitute the given values. Multiply. I = (3000)(0.045)(2)

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Holt Algebra 1 2-9 Application of Percents Check It Out! Example 2b The simple interest paid on a loan after 6 months was $306. The annual interest rate was 8%. Find the principal. I = Prt Write the formula for simple interest. The remaining principal is $7650. Substitute the given values. 306 = (P)(0.08) 306 =.04P 7650 = P Multiply 0.08. Since P is multiplied by 0.04, divide both sides by 0.04.

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Holt Algebra 1 2-9 Application of Percents Practice 1. A computer salesperson earns a base salary of $32,000 per year plus a commission of 6% on total sales. Total sales for one year were $350,000. Find the salesperson’s total pay for the year. $53,000 2. Find the simple interest paid for 9 months on a a $500 loan at 8% per year. $30 3. After 2 years the simple interest earned on an investment of 4000 was $216. Find the interest rate. 2.7%

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Holt Algebra 1 2-9 Application of Percents Practice 4. A family’s dinner check was $38.82. Estimate a 15% tip. About $6.00 5.The sales tax rate is 7.1%. Estimate the sales tax on a television set that costs $399. About $28

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