Percent - XYZ Custom Plus

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352Chapter 5 PercentExtending the ConceptsThe following problems are percent problems. Use any of the methods developed in this chapter to solve them.51. Credit Card Debt Student credit-card debt is at an alltimehigh. Consolidated Credit Counseling ServicesInc. reports that 20% of all college freshman got theirfirst credit card in high school and nearly 40% signup for one in their first year at college. Suppose yourcredit card company charges 1.3% in finance chargesper month on the average daily balance in your creditcard account. If your average daily balance for thismonth is $2,367.90 determine the finance charge forthe month.$30.7852. Finding Your Interest Rate In early January, your banksent out a form called a 1099-INT, which summarizesthe amount of interest you have received on a savingsaccount for the previous year. If you received $72 interestfor the year on an account in which you started with$1,200, determine the annual interest rate paid by yourbank.6%53. Movie Making The bar chart below shows the production costs for each of the first four Star Wars movies. Find the percentincrease in production costs from each Star Wars movie to the next. Round your results to the nearest tenth.120115Production costs(millions of dollars)10080604020011Star Wars197718The EmpireStrikes Back198032.5Return ofthe Jedi1983The PhantomMenace1999Douglas Kirkland/CorbisPercent increase in production costs: Star Wars 1 to 2, 63.6%; Star Wars 2 to 3, 80.6%; Star Wars 3 to 4, 253.8%54. Movie Making The table below shows how much money each of the first four Star Wars movies brought in during thefirst weekend they were shown. Find the percent increase in opening weekend income from each Star Wars movie tothe next. Round to the nearest percent.Opening Weekend IncomeStar Wars (1977) $1,554,000The Empire Strikes Back (1980) $6,415,000Return of the Jedi (1983) $30,490,000The Phantom Menace (1999) $64,810,000Percent increase in opening weekend income: Star Wars 1 to 2, 313%; Star Wars 2 to 3, 375%; Star Wars 3 to 4, 113%
Chapter 5 SummaryThe Meaning of Percent [5.1]Percent means “per hundred.” It is a way of comparing numbers to the number100.EXAMPLEs1. 42% means 42 per hundred or_42100 .Changing Percents to Decimals [5.1]To change a percent to a decimal, drop the percent symbol (%), and move thedecimal point two places to the left.2. 75% = 0.75Changing Decimals to Percents [5.1]To change a decimal to a percent, move the decimal point two places to the right,and use the % symbol.3. 0.25 = 25%Changing Percents to Fractions [5.1]To change a percent to a fraction, drop the % symbol, and use a denominator of100. Reduce the resulting fraction to lowest terms if necessary.4. 6% = 6 _100 = 3 _50 Changing Fractions to Percents [5.1]To change a fraction to a percent, either write the fraction as a decimal and thenchange the decimal to a percent, or write the fraction as an equivalent fractionwith denominator 100, drop the 100, and use the % symbol.5. _3 = 0.75 = 75%4or_9 = 90_= 90%10 100Basic Word Problems Involving Percents [5.2]There are three basic types of word problems:Type A: What number is 14% of 68?Type B: What percent of 75 is 25?Type C: 25 is 40% of what number?To solve them, we write is as =, of as ⋅ (multiply), and what number or what percentas n. We then solve the resulting equation to find the answer to the originalquestion.6. Translating to equations, wehave:Type A: n = 0.14(68)Type B: 75n = 25Type C: 25 = 0.40nChapter 5Summary353
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