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    Bad Interest vs. Good interest: how much money do you owe the bank? etiquette: tip your waiter / waitress 15% -20% of your untaxed bill. A BAD Interest LOAN: borrowed lump of money interest on a LOAN: The CHARGE for borrowing money from bank / lender. Tipping: how much percentages apply to a meal or a service.

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    Bad Interest vs. Good interest: how much money do you owe the bank? etiquette: tip your waiter / waitress 15% -20% of your untaxed bill. A BAD Interest LOAN: borrowed lump of money interest on a LOAN: The CHARGE for borrowing money from bank / lender. Tipping: how much percentages apply to a meal or a service.

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    51 views15 pages

    7.6 Percentage Applications

    Uploaded by

    msbakermath
    Bad Interest vs. Good interest: how much money do you owe the bank? etiquette: tip your waiter / waitress 15% -20% of your untaxed bill. A BAD Interest LOAN: borrowed lump of money interest on a LOAN: The CHARGE for borrowing money from bank / lender. Tipping: how much percentages apply to a meal or a service.

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    Attribution Non-Commercial (BY-NC)
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    of 15

    Chapter 7.

    6 Applications of percentages
    Objectives: 1.) Review how to calculate the percentage of a whole 2.) Understand how percentages apply to interest 3.) Understand how percentages apply to tipping etiquette
    7/25/12 4.) Understand how percentages apply

    Method 1:

    To calculate a percentage of a whole. What is 30% of $1,200?

    - Convert percent to a decimal and multiply 30% of $1,200 ===> Method 2: - Set up a proportion
    7/25/12

    Ap #1: BAD Interest

    LOAN: borrowed lump of money Interest on a LOAN: The CHARGE for borrowing money from bank/lender

    Investopedia
    7/25/12 http://www.investopedia.com/terms/i/interest.asp

    Just a fact

    At Iowa State Bank in Sac City, the rates on CDs and savings accounts: the best rates we have are 1.25% on savings and 2.5 on a CD I do believe!! Loans range from 4.25-9% mostly but we have some that can go 18% on our not so good customers.
    7/25/12

    Example: BAD Interest

    Derric takes out a $2,000 loan from Iowa State Bank. They charge a 9% annual interest rate. a.) What is the interest?

    b.) How much total does Derric owe the bank?


    7/25/12

    Example: BAD Interest

    Derric takes out a $2,000 loan from Iowa State Bank. They charge a 9% annual interest rate. At the end of one year, how much does Derric owe the bank?

    7/25/12

    Ap #2: GOOD Interest

    Savings Account: A bank arrangement where a person sets aside money; they in a way lend money to a bank. The person collects interest from the bank.

    7/25/12

    Bad Interest vs. Good interest

    Year(s) Later.

    Year(s) Later.

    7/25/12

    Example: Good interest

    Cody INVESTS his money in a savings account. He puts $5,500 in the bank which offers him a 2% interest rate.

    a.) How much money will he earn in interest? b.) How much total will he receive back at the end of the year? 7/25/12

    Ap #3: Tipping Etiquette


    - Tip your waiter/waitress 15% -20% of your untaxed bill

    According to an etiquette advise website


    7/25/12 http://www.etiquettescholar.com/dining_etiquette/tipping_

    Example: Tipping
    Alex and her family receives wonderful service. Her bill not including tax is $24.85. She will tip her server __________%. a.) How much will she be adding as a tip? b.) How much will her total bill be?

    7/25/12

    Ap #4 Taxes

    Tax: A contribution for the support of a government required of persons, groups, or businesses Purchased goods: 7% Income: 18%-40%

    7/25/12

    Example: Taxes

    If this person had a wage of $83,744.23, but there was $21,085.32 withheld for taxes, what percent of the earnings is going to taxes?
    7/25/12

    James makes a monthly wage of $450. He pays 18% in taxes.

    a.) How much money will be withheld? b.) What is his paycheck?
    7/25/12

    7/25/12

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