do now 2/17/14 take out hw from last wednesday night. take out hw from last wednesday night....

Do Now 2/17/14Do Now 2/17/14 Take out HW from last Wednesday night.Take out HW from last Wednesday night.

Practice worksheet 6.5, #1-8Practice worksheet 6.5, #1-8

Copy HW in your planner.Copy HW in your planner. Practice worksheet 6.6 A, #1-12 except 12dPractice worksheet 6.6 A, #1-12 except 12d POTW #8 due tomorrowPOTW #8 due tomorrow

In your journal, answer the following. Deborah can In your journal, answer the following. Deborah can choose between a monthly salary of $1800 plus choose between a monthly salary of $1800 plus 6.5% of sales or $2100 plus 4% of her sales. She 6.5% of sales or $2100 plus 4% of her sales. She expects sales to be between $5,000 and $10,000 a expects sales to be between $5,000 and $10,000 a month. Which salary option should she choose? month. Which salary option should she choose? Explain.Explain.

Deborah can choose between a monthly salary of Deborah can choose between a monthly salary of $1800 plus 6.5% of sales or $2100 plus 4% of her sales. $1800 plus 6.5% of sales or $2100 plus 4% of her sales. She expects sales to be between $5,000 and $10,000 a She expects sales to be between $5,000 and $10,000 a

month. Which salary option should she choose? Explain.month. Which salary option should she choose? Explain.

$1,800 plus 6.5% of sales

What is 6.5% of $5,000?

100

5.6

000,5

a

What is 6.5% of $10,000?

100

5.6

000,10

a

Commission = $325

+ Salary = $1800

Total = $2,125

Commission = $650

+ Salary = $1800

Total = $2,450

She would make between $2,125 to $2,450.

What is 4% of $5,000?

100

4

000,5

a

What is 4% of $10,000?

100

4

000,10

a

Commission = $200

+ Salary = $2100

Total = $2,300

Commission = $400

+ Salary = $2100

She would make between $2,300 to $2,500.

$2,100 plus 4% of sales

Total = $2,500

HomeworkHomeworkSection 6.5 B Practice worksheetSection 6.5 B Practice worksheet

1)1)

2) 2)

3) 9%3) 9% 4) $30004) $3000 5) sales tax: $2.335) sales tax: $2.33

total cost: $38.18total cost: $38.18 6) Salesperson A: $7428.306) Salesperson A: $7428.30 7) 18%7) 18% 8) 57 games8) 57 games

ObjectiveObjective SWBAT practice finding percent of change, retail prices, sales SWBAT practice finding percent of change, retail prices, sales

prices, commission, sales tax, and percent of earnings prices, commission, sales tax, and percent of earnings

Section 6.5 “Percent Applications”Section 6.5 “Percent Applications”Percents can be applied to many Percents can be applied to many

everyday ordinary activities: everyday ordinary activities:

1) commission1) commission

2) tips2) tips

3) sales tax3) sales tax

4) percent of earnings4) percent of earnings

5) revenue and profit5) revenue and profit

6) manufacturer price and markups6) manufacturer price and markups

7) sale price and discounts7) sale price and discounts

Shopping and Business Shopping and Business ApplicationsApplications

ManufacturerManufacturerPricePrice

SaleSale

PricePriceOriginalOriginalPricePrice

RetailRetail

PricePriceDiscountDiscount

MarkupMarkup

MarkupsMarkups

A retailer (store) buys items from A retailer (store) buys items from manufacturers at manufacturers at WHOLESALE/ WHOLESALE/ MANUFACTURER PRICESMANUFACTURER PRICES. The retailer then . The retailer then sells those items to customers (you and me) sells those items to customers (you and me) at at RETAIL PRICESRETAIL PRICES. .

The increase in price from the The increase in price from the WHOLESALE PRICEWHOLESALE PRICE to the to the RETAIL PRICERETAIL PRICE is how is how a store makes money. This increase is called a store makes money. This increase is called a a MARKUPMARKUP. .

Retail priceRetail price == Wholesale / Wholesale / Manufacturer Manufacturer priceprice

+ + Amount of Amount of Increase Increase (Markup)(Markup)

MarkupsMarkupsModell’s buys Nike brand sneakers from the Nike Modell’s buys Nike brand sneakers from the Nike

manufacturer for $40. Modell’s then increases the price by manufacturer for $40. Modell’s then increases the price by 150%. What is the retail price?150%. What is the retail price?

Retail priceRetail price == Manufacturer / Manufacturer / Wholesale Wholesale priceprice

+ + Amount of Amount of IncreaseIncrease

== 4040 + +

== 4040 + + 6060

== $100$100

What is 150% of 40?

100

150

40

aor or (150% (150% ∙ ∙ 40)40)

also known as a also known as a

““MARKUP”MARKUP”

MarkupsMarkupsWinter Wonders buys snow globes from a Winter Wonders buys snow globes from a

manufacturer for $9.20 each sells them at a 95% increase in manufacturer for $9.20 each sells them at a 95% increase in price. What is the retail price?price. What is the retail price?

Retail priceRetail price == Manufacturer / Manufacturer / Wholesale Wholesale priceprice

+ + Amount of Amount of IncreaseIncrease

== 9.209.20 + +

== 9.209.20 + + 8.748.74

== $17.94$17.94

What is 95% of $9.20?

100

95

2.9

aor or (95% (95% ∙ $9.2∙ $9.20)0)

also known as a also known as a

““MARKUP”MARKUP”

DiscountsDiscounts

A decrease from the original price of an A decrease from the original price of an item to the sale price is a item to the sale price is a DISCOUNTDISCOUNT. The . The discount is calculated using a percent of the discount is calculated using a percent of the original price. original price.

Sale priceSale price == Original priceOriginal price – – Amount of Amount of Decrease Decrease (Discount)(Discount)

You buy a shirt that is on sale for 15% off You buy a shirt that is on sale for 15% off the original price of $25. What is the sale price?the original price of $25. What is the sale price?

== 2525 – – or (15% or (15% · 25)· 25)

== 2525 – – 3.753.75

== $21.25$21.25

Sale priceSale price ==Original Original priceprice – – Amount of Amount of

decreasedecrease

DiscountsDiscounts

also known as a also known as a

““DISCOUNT”DISCOUNT”

What is 15% of 25?

100

15

25

a

The regular price of an MP3 player is The regular price of an MP3 player is $79.99. This week the MP3 player is on sale $79.99. This week the MP3 player is on sale 25% off. What is the sale price?25% off. What is the sale price?

== 79.9979.99 – – or (25% or (25% · 79.99)· 79.99)

== 79.9979.99 – –

== $59.99$59.99

Sale priceSale price ==Original Original priceprice – – Amount of Amount of

decreasedecrease

DiscountsDiscounts

also known as a also known as a

““DISCOUNT”DISCOUNT”

What is 25% of 79.99?

100

25

99.79

a

$20.00$20.00

100

ratecommission

sales

commission

100

ratetip

bill

tip

100

ratetax

price

taxsales

Percent Application FormulasPercent Application Formulas

100

p

b

a

Percent Proportion

Sale priceSale price == Original priceOriginal price – – Amount of Decrease Amount of Decrease (Discount)(Discount)

Retail priceRetail price == Wholesale priceWholesale price + + Amount of Increase Amount of Increase (Markup)(Markup)

100

percent

revenue

profit

100

percent

earnings

part

HomeworkHomework Text p. 248, #11, 12, 19, 20Text p. 248, #11, 12, 19, 20 Text p. 252, #16 & 17 Text p. 252, #16 & 17

2424

Clock PartnersClock Partners

With your 4:00 partner, complete Punchline

worksheet #96 & Practice

worksheet 6.5.

Percent Application FormulasPercent Application Formulas

Sales TaxSales Tax == Tax rateTax rate x x Purchase pricePurchase price

TipTip == Tip %Tip % x x SalesSales

CommissionCommission == Commission rateCommission rate xx SalesSales

Sale priceSale price == Original priceOriginal price – – Amount of Decrease Amount of Decrease (Discount)(Discount)

Retail priceRetail price == Wholesale priceWholesale price + + Amount of Increase Amount of Increase (Markup)(Markup)

Percent of Percent of changechange 100

original

changeofamount==

100

p

b

a

Percent Proportion

IPA trPI