7.6 Percentage Applications

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Chapter 7. 6 Applications of percentages Objectives: 1.) Review how to calculate the percentage of a whole 2.) Understand how percentages apply to interest 3.) Understand how percentages apply to tipping etiquette 7/25/12 4.) Understand how percentages apply Method 1: To calculate a percentage of a whole…. What is 30% of $1,200? - Convert percent to a decimal and multiply 30% of $1,200 === Method 2: - Set up a proportion 7/25/12 Ap #1: BAD Interest ã LOAN: borrowed lump of money Interest
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  7/25/12   Chapter 7. 6 Applications of percentages Objectives:1.) Review how to calculate thepercentage of a whole2.) Understand how percentagesapply to interest3.) Understand how percentages applyto tipping etiquette4.) Understand how percentages apply  7/25/12   o cacuae a percenage oa whole….What is 30% of $1,200? Method 1:- Convert percent to a decimal andmultiply30% of $1,200 ===>Method 2:- Set up a proportion  7/25/12   Ap #1: BAD Interest ã LOAN: borrowed lump of money ã Interest on a LOAN: The CHARGE forborrowing money from bank/lender Investopediahttp://www.investopedia.com/terms/i/interest.asp  7/25/12    Just a fact ã At Iowa State Bank in Sac City, therates on CD’s and savings accounts:“the best rates we have are 1.25%on savings and 2.5 on a CD I dobelieve!! ã Loans range from 4.25-9% mostlybut we have some that can go 18%on our not so good customers.”
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