1. 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.

2. 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

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

4. 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

5. 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

6. 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?

7. 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

8. 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

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

10. 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

11. 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

12. 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.

13. 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.

14. Shopping and Business Applications ManufacturerPrice SalePrice OriginalPrice RetailPrice Discount Markup

15. 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”

16. 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?

17. 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”

18. 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

19. 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

20. 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

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