Simple Interest
Define each of the variables in the interest formula: I = prt
Interest = Principal x rate (decimal) x time (years)
After calculating sales tax, you _______ the subtotal. (add it to or subtract it from)
add it to
A monetary incentive in which you pay full price but send in a reimbursement to receive money back at a later date.
A rebate
A car is 5500 and is on sale for 3% off plus a 100 rebate. How much is the car after the sale?
$5,235
Calculate the interest earned:
P = 400
r = .03
t = 10
$120
Food that is not pre-prepared in Texas.
Non-taxable
What is the sale price of a pair of shoes that originally cost $78 but are 15% off? Round to the nearest hundredth.
$66.30
Mary deposits $1500 into an account that earns 6% simple interest. How much money is in her account after 20 years?
$3300
The total cost of items before tax or discounts are applied.
Subtotal
Which deal is better: 20% off 150 or a $40 off coupon.
20% is a final price of $112.50 and $40 is a final price of $110, so the coupon is a better deal.
Calculate the principal:
I = 200
r = 5%
t = 32
$125
On a receipt, the what letters determine whether an item has sales tax or not? Give both letters and identify.
T - Taxable
F - Tax-free
You go out to eat at Red Robin. You order a burger and fries. Your meal comes to $14.50. You had a phenomenal waiter, so you want to tip him 25%. How much is your total bill with the tip included?
$18.13
Calculate the total value of the account:
I = 600
r = 2.5%
t = 30
$1400
Charlene's lunch bill was $18 and she tipped 15%. David's was $16.50 and he tipped 22%. Who paid more and by how much?
Charlene paid 20.70 and David paid 20.13. Charlene paid more by 57 cents.
Find the total cost according to the receipt with a sales tax of 8%. Round to the nearest hundredth.
eggs..... 1.80 F
bread..... .99 F
socks.... 6.89 T
$10.23
$24.44