1. 100 200 300 400 500 100 200 300 400 500 100 Numbers Sales Tax Unit Pricing Simple Interest Currency Compound Interest Business Math 400 500

2. 1 U.S. Dollar = 6.69 Yuan Which currency is stronger?

3. U.S. Dollar

4. 1 U.S. Dollar = 6.69 Yuan How many Yuan would you get for $10 U.S. Dollars?

5. 10(6.69) = 66.90 Yuan

6. The Answer is: Give two examples why it is beneficial for the U.S. to pursue a weak dollar strategy.

7. 1.It is cheaper for other countries to purchase U.S. goods. 2.More demand for U.S. goods = increased demand = more people needed to meet demand = more people employed!!! 3.Export more than you import, the trade deficit decreases. 4.Farmers benefit from comparatively cheaper products. 5.Weak dollar attracts foreign investment = stronger real estate and business investment.

8. 1 U.S. Dollar = 6.69 Yuan You have 1 Yuan, how many U.S. Dollars is it worth?

9. 1 U.S. Dollar = 6.69 Yuan 1/6.69 =.1497$ 1 Yuan =.1497 U.S. Dollars

10. What type of market is the currency market and when is it open?

11. The currency market is an AUCTION MARKET and it is open 24 HOURS A DAY

12. What is the formula for Simple Interest?

13. SI = P * R * T

14. You have the following variables, solve for the unknown SI = P = $3,000 R= 8% T = 3 Years

15. SI = P * R * T SI = 3,000(.08)(3) SI = $720

16. You have the following variables, solve for the unknown SI = $67.34 P = R= 2% T = 2Years

17. SI = P * R * T 67.34 = P(.02)(2) 67.34 = P(.04) 67.34/.04 = P = $1,683.50

18. You have the following variables, solve for the unknown. Assume a 365 Day Year. SI = $230.45 P = $6,700 R= T = 220 Days

19. SI = P * R * T220/365=.603 230.45 = 6,700R(.603) 230.45 = 4,040.1R 230.45/4,040.1= R =.057 or 5.7%

20. You invest $1,500 into a CD. Upon maturity you receive $1,987. You know your interest rate was 5%, but for some reason you have no idea how long you left your money in the account for. How long was your money invested for? DAILY DOUBLE

21. SI = P * R * T 1,987 – 1,500 = 487 Interest 487 = 1,500(.05)T 487 = 75T 487/75 = T = 6.49 Years

22. Describe the basic principle of compound interest.

23. You earn interest upon interest because the interest you earn is reinvested on the principal. This means your principal is always getting bigger and you are always earning more interest

24. Principal = 10,000 Rate = 8% Time = 3 Years Compound Interest = ???

25. YR 1 10,000(.08) = 800.00 YR 2 10,800(.08) = 864.00 YR 3 11,664(.08) =933.12 933.12 $2,597.12 $12,597.12

26. You invest $3,000 in an account at 8% interest for 1 year. The interest is compounded quarterly. How much would you earn in interest at the end of the year?

27. Q1 3,000 (.02) = 60.00 Q2 3,060 (.02) = 61.20 Q3 3,121.20(.02) = 62.42 Q4 3,183.62(.02) = 63.67 63.67 $247.29 $3,247.29

28. You invest $5,000 in an account at 4% interest for 1 year. The interest is compounded semi-annually. How much would you earn in interest at the end of the year? DAILY DOUBLE

29. SA1 5,000(.02) = 100.00 SA2 5,100(.02) = 102.00 102 $202.00 $5,202

30. You are going to invest $10,000 in an account at 12% interest for 1 year. The interest is compounded weekly. However, after 3 weeks you need the money. Assuming there is no penalty, how much interest did you earn?

31. .12/52 =.002 W1 10,000 (.002) = 20.00 W2 10,020 (.002) = 20.04 W3 10,040.04(.002) = 20.08 20.08 $60.12 $10,060.12

32. Write out the word form of the following 123,439.43 ___________________________

33. 123,439.43 One Hundred Twenty Three Thousand Four Hundred Thirty Nine and Forty Three

34. Round the following numbers to the nearest cent $45.548______ $35.632______

35. $45.548______ = $45.55 $35.632______ = $35.63

36. Convert the following percents to decimals 3.7%_____ 18.9%_____

37. 3.7%_____ =.037 18.9%_____ =.189

38. Covert the following decimals to percents 0.0023 _____ 0.000123 _____

39. 0.0023 _____ =.23% 0.000123 _____ =.0123%

40. Change the following percents into decimals..078 ____________.0067 ___________

41. . 078 =.00078.0067 =.000067

42. Typically, are you supposed to tip on the total or subtotal?

43. SUBTOTAL

44. What is the sales tax on a bill of $58.83 in New Jersey?

45. $58.83(.07) = $4.12

46. Lisa goes to Best Buy and buys a Wii for $134.65 and also purchases 3 games with it; James Bond - $39.96, - Wii Sports - $22.82, - and Mario Kart - $25.82. First calculate the sub-total of these items then calculate the tax and total cost for the state listed below. Sub-Total_____________ Sales Tax amount _____________ Total cost_______________ California (8.25%)

47. Sub-Total:$223.25 Sales Tax amount:$18.42 Total cost:$241.67 California (8.25%)

48. A bill for 2 people at a restaurant came to $115.00 before tax. Tax is 7%. Calculate the sales tax amount, tip for average service (15%), and total bill. NO CALCULATORS Sales Tax_____________ Tip_____________ Total bill_____________

49. Sales Tax: $8.05 Tip: $17.25 Total bill: $140.30

50. Kevin goes to Shoprite to buy gum. Each pack of gum comes in packs of 20 sticks. He sees the following prices and wants to know which is the best buy. A single pack costs $1.50, a ten-pack carton sells for $9.54, 2 ten-pack cartons sell for $15.67, and 2 twenty-pack cartons sell for $34.89. Determine the better buy (show your work).

51. 1 Pack = $1.50 10 Packs = $9.549.54/10 = $.95 Per Pack 20 Packs = $15.6715.67/20 = $.78 Per Pack 40 Packs = $34.8934.89/40 = $.87 Per Pack The two ten packs are the cheapest.