Lesson: Mixed Multi-Step Percent Trail

Standard: 7.RP3 Lesson: Mixed Multi-Step Percent Trail Guided Notes Use the percent equation or the percent proportion to solve each problem. Show your work for each.  Interest: (banks charge interest on loans and pay interest on savings accounts)  Markups: (stores must markup the cost of their products to make money or profits)  Markdowns & discounts: (stores often discount their products below suggested retail prices to encourage customers to shop at their stores)  Tips and gratuities: (it is customary to tip your server at restaurants)  Commissions and fees: (many workers in sales are paid based on a percent of what they sell)  Sales taxes: (many state and local governments require store owners to add sales tax on what you purchase at their store)

1. Interest on Savings How much interest will Hannah earn in 3 years if she deposits $1,200 into a savings account that pays 6% simple interest?

# 1 2. Interest on Investments Terry invested $3,500 in the stock # 2 market for 4 years. If the investment earned 15% simple interest, how much did Terry earn in total interest in 4 years?

3. Interest on Savings Mary deposited $950 in a savings account. It earned a total of $195 in simple # 3 interest over three years. What was the simple interest rate on Mary’s savings account?

4. Interest on Loans # 4 Ted borrowed $35,000 to buy a new Ford Mustang GT. The loan has a simple interest rate of 4.9%. How much will Ted pay in interest over 3 years?

5. Sales Tax Ivan bought three magazines for $6.50 each. The sales tax was 7%. What was the total amount that Ivan paid for the magazines? # 5 6. Markdowns & Discount # 6 The original price of a model airplane is $85. The discounted price is $68. What is the percent of the discount?

7. Markdowns & Discount # 7 Justin is buying a cell phone that has a regular price of $495. The cell phone is on sale for 25% off the regular price. What is the sale price of the cell phone?

8. Discounts and Sales Tax Andrea ordered a computer on the # 8 Internet. The computer originally cost $1,500 but is on sale for 15% off. There is also a sales tax of 6 %. What is the total amount Andrea paid for the computer after the discount and sales tax?

9. Making a Profit - Markups Walmart’s markup on clothing and shoes is 75%. A pair of shoes cost Walmart # 9 $21.50. If Walmart adds its normal markup, what will be the selling price of the shoes? 10. Making Money - Markups # 10 Ben’s Hardware Store adds a markup on its power tools of 65% over cost. If a new electric saw cost Ben’s Hardware $70, what will it sell it for?

11. Tipping Your Server Billy’s family went to AppleBee’s for dinner Saturday night. When the bill came, it # 11 was $66.70. Billy’s father asked Billy exactly how much tip he should leave for a 15% tip. What should be Billy’s answer?

12. Tipping and Sales Tax Anna went to an expensive restaurant. At the end of the meal, her waiter gave her the check for $55.50 before sales tax. # 12 Sales tax is 6% and Anna wants to also leave a 20% tip. How much will she pay with sales tax and tip?

13. Commission Sales Betsy works in real estate sales. She # 13 earns a 3% commission on all homes she sells. Last month, she sold a condominium for $185,000 and a single family home for $315,000. How much commission did she earn last month? 14. Commission Sales Jerry sells new cars at Alexandria Ford. # 14 He is paid a percent commission based on the value of the cars he sells. This month, Jerry was paid $4,500 in commission by selling cars with a total value of $300,000. What is Jerry’s percent commission rate?

15. Percent Fees The state of Kentucky charges a fee to # 15 renew auto license plates based on 1.6% of the value of the vehicle. Beth’s car is valued at $15,500. How much can Beth expect to pay to renew her license plates?

16. Commission Fees A real estate company charges a 7% # 16 commission on homes that it helps to sell. If a house sells for $386,000, what can the seller expect to pay in commission fees on the sale of their home?