2 simple word problem. Need help! 8th grade math?

Question

1.A book with orignal price of 15 dollars has a 20% discount during the christmas holidays. How much does the book cost in Christmas?
2. A bank gives us an interest of 5% per year on the money we invest. If we invested 5500 dollars at the beginning of 2001, how much money will we have at the end of 2006?

Answer 1

THANX YA"ll>>>>>Tanya

Answer 2

1.A book with orignal price of 15 dollars has a 20% discount during the christmas holidays. How much does the book cost in Christmas?
20% off mean it sells for 100%-20%=80% of the original price.
80%=80/100=0.80
$15.00*0.80=$12.00

2. A bank gives us an interest of 5% per year on the money we invest. If we invested 5500 dollars at the beginning of 2001, how much money will we have at the end of 2006?
If it is simple interest
I=PRT=$5500*.05*5=$1375
P+I=$5500+$1375=$6875.00
if the interst is compounded annually (you get interest on the interst)
I=P(1+R)^t
I=$5500*1.05^5=$7019.55

Answer 3

1. 20% of the original price means that original price * 20%
=> (20/100) * 15 = 3

take 20% off the original price also means that take $3 off $15
so, 15 - 3 = $12 is the price of the book at Christmas

2. at the end of each year, you will have the total amount of money you are currently have in there plus 5% of that money. So, at the end of first year (2001), you will have 5500 plus 5% of 5500 in your bank:
2001: 5500 + (5/100)*5500 = 5775
This also means that at beginning of 2002, you'll have 5775 in your bank. Similarly, at the end of 2002, you earn
2002: 5775 + (5/100)*5775 = 6063.75

From here figure out how much you will have by 2006.

Answer 4

1.
discount = 20% * original price = 0.20 * 15 = $3
Christmas price = original price - discount = 15 - 3 = $12
The book costs $12 at Christmas.
2.
We collect interest for 5 years.
End amount = Original Amount * (1 + interest rate) ^ number of years
End amount = 5500 * (1 + 5%) ^ 5 = 5500 * 1.05^5 = $7019.55
At the end of 2006, we will have $7019.55

Hope this helps!

Answer 5

IF you get a 20% discount, you are only paying 80% of the cost.

Cost = 15 * 0.8
= 12
THe book costs $12 at Christmas.

THe second could have two different answers. IF the interest is simple, ie earn interest only on the original investment you would get:

A = P + I
= 5500 + 5500*0.05*5
= 6875
This way you would have $6875 after five years.

If interest is compounded, ie you earn interest on principal and the interest previously earned, you get:

A = P(1 + i)^n
= 5500( 1.05)^5
= 7019.55

THis way you have $7019.55 after five years. As you can see compound interest makes you more!

Answer 6

First convert 20% to decimal

Remove the % sign. Divide 20 by 100 to obtain the decimal.

20 / 100 = 0.2

Multiply 15 times the decimalto obtain the amount of discount.

15 x 0.2 = 3

Subtract 3 from 15 to obtain the price of the book during christman holidays,

15 - 3 = 12

The anser is: The price of the book during christman holidays is $ 12.00

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I = PRT

I = 5500 x 0.05 x 5

I = 275 x 5

I - 1375.00

- - - - - -

I = P(1 + r)^t

I = 5500(1 + 0.05)^5

I = 5500(1.276281563)

I = 7019.548594

I = $ 7019.55 Rounded to two decimal places

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Answer 7

1. $17
2. $715

Answer 8

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