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Credit Card Application

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Credit Card Application

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  1. Shelly goes shopping for jeans at Boscov’s on their big sale where everything in the store is marked down 20%. In addition, she clipped a manufacturer’s coupon that gives an additional 20% off the sale price of the jeans. Mary buys the same jeans at JC Penney’s at 38% off. The jeans at both stores are originally marked at $56.75. Who got the better deal? How much does the better deal save?

  2. The news media has accused Wilkes-Barre St. University of discriminating against women in the admissions policies in its schools of architecture and engineering. The newspaper The Citizens Times states that, “68% of all male applicants to the school of architecture or engineering are admitted, while only 51% of the female applicants to these same schools are admitted.” The actual data are given in the following table.

  3. What percent of the male applicants to the School of Architecture were admitted? What percent of the female applicants to this same school were admitted? • What percent of the male applicants to the School of Engineering were admitted? What percent of the female applicants to this same school were admitted? • How did The Citizens Times come up with its figures? • Explain how it is possible for the results in the previous problems to all be true?

  4. Credit Card Application On your brand new credit card, you charge $800 toward the purchase of new entertainment system to play your favorite movies and video games in your dorm room. Your credit card requires that you pay a minimum of $15 of your account each month. 1. Assuming no interest rate, how much will you owe at the end of one year if you pay the minimum every month (12 months)? 2. Assume the Annual Percentage Rate (APR) on the credit card is 18% which is calculated on your remaining balance after your first payment. How much money will you still owe after one year? (hint: remember that you still have to make monthly payments)

  5. Amount owed after: 1st month: $796.78 2nd month: $793.51 3rd month: $790.19 4th month: $786.82 5th month: $783.39 6th month: $779.92 7th month: $776.39 8th month: $772.81 9th month: $769.18 10th month: $765.48 11th month: $761.74 12th month: $757.94

  6. Test Monday 3/26 Solving equations • Solve basic equations (2.1 – 2.3) • Solve equations with fractions Percentage applications • Solve basic percentage problems (2.5) • Solve word problems • RB=A • Increase: T=B+A T=(1+R)B • Decrease: T=B-A T=(1-R)B

  7. Test Taking Strategies 1. Read your notes and textbook first. 2. Study as if everything will be on the exam 3. Make a practice exam 4. Analyze mistakes 5. Do not Cram! 6. Think positively

  8. Solve the following equations 6. 7. 8. Enrollment at a school increased from 800 to 888 students in a given year to the next. What was the rate of increase? 9. A store marks up items to make a 30% profit. If an item costs $2.50 from the supplier, what will the selling price be?

  9. Chrissy’s paid $80 for sneakers at Foot Locker, $7.50 of which is from NY state tax. What is the NY state tax rate? 15. The price of coffee has risen 550% since 1980. If coffee was 90 cents a pound in 1980, what does it cost today?

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