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Combinations and Simple Interest

Combinations and Simple Interest. Mrs. Kuznia Math 8 Day 15. Rule. Sometimes, we have to apply more than one percent to a given problem. IE: Tax, then tip Sale price, than tax. Rule Continues. NO MATTER WHAT….NEVER add the percents together.

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Combinations and Simple Interest

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  1. Combinations and Simple Interest Mrs. Kuznia Math 8 Day 15

  2. Rule • Sometimes, we have to apply more than one percent to a given problem. • IE: Tax, then tip • Sale price, than tax

  3. Rule Continues • NO MATTER WHAT….NEVER add the percents together. • To do combination problems, you must apply the first percent, then apply the second. • IE, Find the sale price first, THAN add the tax to it.

  4. Example • You buy a $3500 Used car, that has been discounted 10%, but you must pay tax of 8%.What is the total amount you pay?

  5. Example • You got to Fresno’s and your bill comes to $37.50. You must pay and 4% tax, then leave an 8% tip. What is the total amount you pay?

  6. Example • You buy new TV for $259.99. It is on sale 25% off, and you must pay 8.25% tax. How much do you pay?

  7. Example • You shop at JC Penny’s and you buy a pair or pants for $59.99, that is on sale 20% off. You also have a coupon that gives you an extra 25% off. How much do you pay?

  8. Simple Interest • Simple Interest deals with Money. When you put money into the bank, you are able to earn a certain percent of that money depending on how much you put in, and how long you keep it there

  9. Formula • I=P R T • I- Interest • P-Principal (starting Amount) • R-Rate (change to decimal) • T- time in years

  10. Example • Find the Simple Interest: • Principal= 16,425 • Rate= 5% • Time = 8 years

  11. Examples • Principal=$850 Principal = $1,659 • Rate = 9% Rate = 5% • Time = 12 years Time = 5 years

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