Chloe deposits $2,000 in a money market account. The bank offers a simple interest rate of 1.2%. How much interest will she earn in 10 years? (Simple interest formula:
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Apologies for any confusion. Let me address your concerns and verify the answers again:
1. Chloe deposits $2,000 in a money market account. The bank offers a simple interest rate of 1.2%. How much interest will she earn in 10 years?
Answer: The interest earned in 10 years will be $240.
2. Sarah has a coupon for 25% off of any item at the Big Fish Store. If she buys an item regularly marked $60, what is her sale price?
Answer: Her sale price will be $45.
3. The rent in an apartment building was increased from $425 to $467.50. What was the percent of increase?
Answer: The percent of increase is approximately 9.9%.
4. The national average cost for gas in the year 2000 was $1.51 a gallon. Currently, the average for a gallon of gas is $3.57. What is the percent of change?
Answer: The percent of change is approximately a 136% increase.
5. Mia and Robert signed up to walk in a 5K walk/run race. They predict it will take them 60 minutes to complete the race. Mia and Robert finish the race in 53 minutes. What is the percent error?
Answer: The percent error is approximately 13.2%.
6. Martha is buying two shirts that each cost $20 at a local store. She is considering two options to purchase the shirts. Option A: Use the store sale- buy one shirt and get a second shirt at 50% off the original price. Option B: Use a coupon for 30% off the entire purchase. Martha will also pay 7% tax on her purchase. Which option will cost less money?
Answer: Option B will cost less money for Martha.
Again, I apologize for any confusion. These revised answers should align correctly with the questions you asked. Let me know if there are any further concerns.
The formula for simple interest is I = prt, where I is the interest, p is the principal (the initial amount of money), r is the interest rate, and t is the time in years.
In this case, Chloe deposits $2,000 into a money market account. The interest rate is 1.2% and the time is 10 years.
To calculate the interest earned, we can substitute these values into the formula:
I = (2000) * (0.012) * (10)
I = 24
Therefore, Chloe will earn $24 in interest after 10 years.
Sarah has a coupon for 25% off of any item at the Big Fish Store. If she buys an item regularly marked $60, what is her sale price?
A
$45
B
$2.40
C
$150
D
$15
To calculate the sale price, we need to subtract the discount amount from the original price.
Sarah has a coupon for 25% off, which means she will get a discount of 25% of $60.
Discount = 25% * $60 = 0.25 * $60 = $15
To find the sale price, we subtract the discount amount from the original price:
Sale price = $60 - $15 = $45
Therefore, Sarah's sale price is $45. The correct answer is A.
The rent in an apartment building was increased from $425 to $467.50. What was the percent of increase?
Percent of Change =
A
111%
B
10%
C
9%
D
91%
To find the percent of increase, we need to calculate the difference between the new rent and the original rent, and then divide that by the original rent to find the fraction of the increase. Finally, we multiply that fraction by 100 to find the percentage.
The increase in rent is $467.50 - $425 = $42.50
The fraction of the increase is $42.50 / $425 = 0.10
To convert this fraction to a percentage, we multiply by 100:
0.10 * 100 = 10
Therefore, the percent of increase is 10%. The correct answer is B.
The national average cost for gas in the year 2000 was $1.51 a gallon. Currently, the average for a gallon of gas is $3.57. What is the percent of change?
A
136% increase
B
150% increase
C
77% increase
D
120% increase
To find the percent of change, we need to calculate the difference between the new average cost and the original average cost, and then divide that by the original average cost to find the fraction of the change. Finally, we multiply that fraction by 100 to find the percentage.
The increase in average cost for gas is $3.57 - $1.51 = $2.06
The fraction of the increase is $2.06 / $1.51 = 1.3649
To convert this fraction to a percentage, we multiply by 100 and round to the nearest whole number:
1.3649 * 100 ≈ 136
Therefore, the percent of change is approximately 136% increase. The correct answer is A.
Mia and Robert signed up to walk in a 5K walk/run race. They predict it will take them 60 minutes to complete the race. Mia and Robert finish the race in 53 minutes. What is the percent error?
Round to the nearest tenth.
Percent Error formula = ��������� − ������������ × 100\frac{estimated\ -\ actual}{actual}\ \times \ 100
actual
estimated − actual
× 100
To calculate the percent error, we need to use the formula:
Percent Error = (Estimated - Actual) / Actual * 100
In this case, the estimated time to complete the race is 60 minutes and the actual time is 53 minutes.
Estimated - Actual = 60 - 53 = 7
Now we can substitute these values into the formula:
Percent Error = (7 / 53) * 100
Percent Error = 0.1320 * 100 ≈ 13.2
Therefore, the percent error is approximately 13.2%.