You deposit $300 into a savings account that pays 4% interest compounded
annually. how much interest will you earn after 5 years?
a. $60
b. $365
c. $65
d. $360

answer:

a. 60

step-by-step explanation:

the formula for the interest is i = prt (60 = 300 x 4% x 5)

step-by-step explanation:

30% of $420 is 0.30($420) = $126 and $420 + $126 = $546.

or, 130% of $420 is 1.3($420) = $546.

notice that this is not the $600 original list price with which we started.

why doesn't this work?

the method does not work because 30% of $420 is not the same amount as the 30% of $600. it may seem obvious when stated this way, but it is a very common error made on problems of this type. we cannot just use the same percent and get back to the original amount because we are taking that percent of a different value.

to work problems of this type correctly, it is generally best to write an equation for the situation and then solve.

example: since (100% – 30%)(original price) = (sale price)

70% of the   (original price) is $420.

0.7x   = 420

equation image indicator

x = 600

the original cost was $600.

we may also solve this problem using the two-step method. working the problem in two steps requires us to use more algebra skills. we have to know that x = 1x (identity property of multiplicationtext annotation indicator) and that 1x – 0.3x = 0.7x (subtracting like terms). then we solve the problem as follows:

(original price) – 30%(original price) = sale price

x – 0.3x = 420

0.7x = $420

equation image indicator

x = 600

the original cost was $600.  

note that with both of the above methods we do obtain the correct original amount.

example: after a 5% pay raise, hermione is earning $22,680 per year. what was she earning before the pay raise?

105% of (original salary) = current salary

1.05x = 22,680

equation image indicator

x = 21,600

hermione earned $21,600 per year before the pay raise.

this is an example so maybe you will get how to at least do it!

i leave the calculator work to you.

7. diameter 4 miles, circumference 4π miles

8. radius 0.2 miles, circumference 0.4π miles

[this is a bad problem because the actual radius of a car on the track is less than 0.2 miles so the answer is less than 0.4π miles]

9. radius 6 feet, circumference 12π feet

10. diameter 14 cm, circumference 14π cm

11. diameter 4.8 feet, circumference 4.8π feet