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Do Now 2/11/14 Take out your HW from last night. Take out your HW from last night. Text p. 245, #1-6 Text p. 245, #1-6 Copy HW in your planner. Copy HW in your planner. Text p. 252, #5-14 Text p. 252, #5-14. In your journal, answer the following question. Give 4 examples in real-life (besides math class) where you use percents. Write and solve a real-life percent problem that you have encountered.

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Homework Text p. 245, #1-6 1) Yes 1) Yes 2) 7.5 h 2) 7.5 h 3) about $40; $39.25 3) about $40; $39.25 4) No; $7.42 is 37.1% of Marcus’ allowance 4) No; $7.42 is 37.1% of Marcus’ allowance 5) $7,872 5) $7,872 6) No; 6 out of 41 students is only about 14.6% of the students 6) No; 6 out of 41 students is only about 14.6% of the students

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Objective SWBAT find, commission, sales tax, and percent of earnings, discounts, markups SWBAT find, commission, sales tax, and percent of earnings, discounts, markups

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Section 6.5 “Percent Applications” Percents can be applied to many everyday ordinary activities: everyday ordinary activities: 1) commission 2) tips 3) sales tax 4) percent of earnings 5) revenue and profit 6) manufacturer price and markups 7) sale price and discounts

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Commission Car salesman Real-estate agent Stock/bond broker Furniture salesman Insurance salesman a fee paid to a person who makes a sale Commission = Commission rate (percentage) x Sales

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Finding a Commission A real-estate agent is paid a monthly salary of $900 plus commission. Last month she sold one apartment for $65,000 earning 4% commission on the sale. How much was her commission? Commission = Commission rate x Sales =4%x =$2,600 +$900 = $2,600 What is 4% of $65,000? $65,000 or Total = Commission + Salary = $3,500 How much money did she make in total for the month? How much money did she make in total for the month?

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Finding a Commission Larry is paid a monthly salary of $2,100 plus commissions. Last month he sold one car for $39,500, earning 3% commission on the sale. How much was his commission. What was his total pay for the month? Commission = Commission rate x Sales =3%x =$1,185 +$2,100 = $1,185 What is 3% of $39,500? $39,500 or Total = Commission + Salary = $3,285

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Tips TIPS are calculated using a percent of the purchase price. TIPS are calculated ONLY on the food or service bill. Do not include sales tax when finding a tip. Tip Tip = Tip % x Sales

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Sales Tax SALES TAX is calculated using a percent of the purchase price. Sales Tax = Tax rate x Purchase price

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Sales Tax and Tips The bill for your restaurant meal is $22. You leave a 15% tip and the sales tax is 6%. How much of a tip did you leave the waitress? What is the total cost of your meal? = 15% x 22 =$22 + $1.32 =$26.62 Total cost = Food bill + Sales tax + Tip + $3.30 Sales Tax = Tax rate x Price Price Tip Tip = Tip % x Sales = 6% x 22

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Sales Tax If the sales tax rate is 7.75%, how much tax would Melanie pay if she bought a DVD player for $145.80 and two DVDs for $15.99 each? DVD player = $145.80 2 DVDs @ $15.99 = $31.98 =$13.78 Sales Tax = Tax rate x Price = 0.0775 x $177.78

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Percent of Earnings Jorge earns $36,000 yearly. Of that, he pays $12,240 for rent. What percent of Jorge’s earnings goes to rent? $12,240 is what percent of $36,000? 34% of Jorge’s earnings goes to rent.

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Revenue and Profit Students wash cars to raise funds for class trips. The class made a profit of $326.60 from last Saturday’s car wash, which was 92% of its revenue. How much was the revenue for the car wash? $326.60 is 92% of what number? The revenue for the car wash was $355.

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Shopping and Business Applications ManufacturerPrice SalePrice OriginalPrice RetailPrice Discount Markup

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Markups Modell’s buys Nike brand sneakers from the Nike manufacturer for $40. Modell’s then increases the price by 150%. What is the retail price? Retail price = Manufacturer / Wholesale price + Amount of Increase = 40 + = 40+ 60 = $100 What is 150% of 40? or (150% ∙ 40) also known as a “MARKUP”

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You buy a shirt that is on sale for 15% off the original price of $25. What is the sale price? =25 – or (15% · 25) = 25 – 3.75 = $21.25 Sale price = Originalprice – Amount of decrease Discounts also known as a “DISCOUNT” What is 15% of 25?

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Markups Winter Wonders buys snow globes from a manufacturer for $9.20 each sells them at a 95% increase in price. What is the retail price? Retail price = Manufacturer / Wholesale price + Amount of Increase = 9.20 + = 9.20+ 8.74 = $17.94 What is 95% of $9.20? or (95% ∙ $9.20) also known as a “MARKUP”

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The regular price of an MP3 player is $79.99. This week the MP3 player is on sale 25% off. What is the sale price? =79.99 – or (25% · 79.99) = 79.99 – = $59.99 Sale price = Originalprice – Amount of decrease Discounts also known as a “DISCOUNT” What is 25% of 79.99? $20.00

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Using a Percent of Change There were about 198,000 spectators at the NCAA Final Four in 1995. The number of spectators increased by about 12% from 1995 to 2002. About how many spectators were there in 2002? Spectators in 2002 = Spectators in 1995 + Amount of increase =198,000+(12% · 198,000) =198,000+23,760 =221,760

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Using a Percent of Change In 1983, the average price of CD was $21.50. By 2000, the average price had decreased by 34.8%. What was the average price of a CD in 2000? Price in 2000 = Price in 1983 x Percent of change =$21.50x(100% – 34.8%) =$21.50x65.2% =$14.018 = $14.02

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Homework Text p. 252, #5-14, 16 & 17 Text p. 252, #5-14, 16 & 17 24

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