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Percents and fractions

10. A hamburger costs $1.35 and the price continues to rise at a rate of 11% a year for the next 6 yr. What will the price of a hamburger be at the end of 6 yr?

17. The New Age Savings Bank advertises 4% interest rates compounded daily, while the Pay More Bank pays 5.2% interest compounded annually Which bank offers a better rate for a customer who plans to leave her money in for exactly 1 yr?

6. Explain how you would respond to the following:
A. A student claims that 9443/9444 and 9444/9445 are equal because both display 0.9998941 on his scientific calculator when the divisions are performed

B. Another student claims that the fractions are not equal and wants to know if there is any way the same calculator can determine which is greater.

12. A student argues that a p% increase in salary followed by a q% decrease is equivalent to a q% decrease followed by a p% increase because of the commutative property of multiplication. How do you respond?

Solution Preview

10) this is a compounding problem:

The price at the end of sixth year: $1.35(1+11%)^6 = $2.53

17) The annual yield of The New Age Savings Bank is

(1 + 4%/365)^365 - 1 in this expression, "1" represents the principle.

no let's do ...

Solution Summary

This provides examples of solving word problems involving percentages and fractions.

$2.19