Download 0082_hsm11a1_te_0209tr.indd

Name
2-9
Class
Date
Practice
Lynch
Percents
Solve each problem. Show the percent proportion or equation that
you used.
1. A set of golf clubs that costs $600 are on sale for 40% of the regular price.
What is the sale price of the clubs?
2. A discount store marks up the merchandise it sells by 55%. If the wholesale
price of a particular item is $25, what should the retail price be set at?
3. A used car lot runs sales at the end of the year to reduce inventory. This
year the sale price is 15% less than the regular price. If the regular price of a
car is $12,000, what is the sale price of the car?
Solve each simple interest problem, using the simple interest equation,
I = Prt. Show your work.
4. If you deposit $800 in a savings account that earns simple interest at a rate of
1.5% per year, how much interest will you have earned after 5 years?
5. You need $11,000 to pay for college in two years. If you invest $900 at a simple
interest rate of 5% for the two years will you have enough money for college?
Explain.


Solve each compound interest problem using the formula A  P 1 
r

n
tn
Show your work.
6. An amount of $1,500.00 is deposited in a bank paying an annual interest
rate of 4.3%, compounded quarterly. What is the balance after 6 years?
7. Your parents invest $3000 into a college savings account when you were
born. The account earns an annual interest rate of 5% compounded
monthly. How much money will you have for college after 18 years?
Solve each using either compound or simple interest. Show the formula and
your work.
8. When Marty was born, his parents deposited $5000 in a college savings
account that earns simple interest at a rate of 7.25% per year. How much
interest will the money have earned after 18 years? How much money will
be in the account?
9. You deposit $900 in a savings account that earns a simple interest rate of 4.5%
per year. You calculate you will earn $1215 in interest over 3 years. Is your
answer reasonable?
10. You have a choice to invest $300 at a simple interest rate of 2% per year or
1.9% compounded monthly. If you know you are going to invest the money
for 6 years, which option is the best? Explain your answer.