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# Wk2monday

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Lecture from Monday October, 3.

Lecture from Monday October, 3.

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• 1. Agenda 10/3/11
1. Discuss HW
2. Review Items Sets and Formulas
3. Quiz
• 2. 3. Mrs. Allen is considering paying cash for the furniture. How much can she save by buying the furniture at Family Furniture rather than at Today’s furniture?
Family Furniture sells a set of living room furniture for \$1199. The store offers a \$100 rebate for paying cash. It will also sell the furniture for \$150 down and monthly installments of \$45 for 3 years. Today’s Furniture sells the same furniture for \$1279. The store offers no rebate for paying cash. It will sell the furniture for \$200 down and monthly installments of \$54 for 2 years.
• Step 1: Find the difference between the stores.
• 3. Step 2: Cash Price from Family Furniture:
\$1199-\$100=\$1099
Price at Today’s
Furniture: \$1279
• Step 3: Subtract
\$1279-\$1099= \$180
• Step 4:Make Sense?
• 4. What is the total price of the furniture from Family Furniture if it is purchased in installments?
Family Furniture sells a set of living room furniture for \$1199. The store offers a \$100 rebate for paying cash. It will also sell the furniture for \$150 down and monthly installments of \$45 for 3 years. Today’s Furniture sells the same furniture for \$1279. The store offers no rebate for paying cash. It will sell the furniture for \$200 down and monthly installments of \$54 for 2 years.
• Step 1: Calculate the total cost of the furniture set from Family Furniture if paid in installments.
• 4. Step 2: Down Payment: \$150
Monthly Payment: \$45
Time Period: 3 years = 36 months
• Step 3: Calculate amount from payments: \$45 × 36= \$1620
Add the down payment:
\$1620 + \$150= \$1770
• Step 4:Make Sense?
• 5. What is the total price of the furniture purchased in installments from Today’s Furniture?
Family Furniture sells a set of living room furniture for \$1199. The store offers a \$100 rebate for paying cash. It will also sell the furniture for \$150 down and monthly installments of \$45 for 3 years. Today’s Furniture sells the same furniture for \$1279. The store offers no rebate for paying cash. It will sell the furniture for \$200 down and monthly installments of \$54 for 2 years.
• Step 1: Calculate the total cost of the furniture set from Today’s Furniture if paid in installments.
• 5. Step 2: Down Payment: \$200
Monthly Payment: \$54
Time Period: 2 years = 24 months
• Step 3: Calculate amount from payments: \$54 × 24= \$1296
Add the down payment:
\$1296 + \$200= \$1496
• Step 4:Make Sense?
• 6. Mrs. Allen decided to buy the furniture from the store with the lower total cost under the installment plan. How much money did she save?
Family Furniture sells a set of living room furniture for \$1199. The store offers a \$100 rebate for paying cash. It will also sell the furniture for \$150 down and monthly installments of \$45 for 3 years. Today’s Furniture sells the same furniture for \$1279. The store offers no rebate for paying cash. It will sell the furniture for \$200 down and monthly installments of \$54 for 2 years.
• Step 1: Find the difference between the installment plans at each store.
• 6. Step 2: Family Furniture Installment
Plan: \$1770
Today’s Furniture: \$1496
• Step 3: Subtract: \$1770-\$1496 = \$274
• 7. Step 4:Make Sense?
• 7. How much more does Family Furniture get for the furniture from a buyer who pays in installments than from a buyer who pays in cash?
Family Furniture sells a set of living room furniture for \$1199. The store offers a \$100 rebate for paying cash. It will also sell the furniture for \$150 down and monthly installments of \$45 for 3 years. Today’s Furniture sells the same furniture for \$1279. The store offers no rebate for paying cash. It will sell the furniture for \$200 down and monthly installments of \$54 for 2 years.
• Step 1: Find the difference between installment and cash payments for Family Furniture.
• 8. Step 2: Family Furniture Installment
Plan: \$1770
Family Furniture Cash Price: \$1099
• Step 3: Subtract: \$1770-\$1099 = \$671
• 9. Step 4:Make Sense?
• 8. If the work is done in 80 hours as planned, how much will the assistant get paid?
Steve is a builder. He tells the Smiths that he can build a garage for them for \$18,000. He estimates that, working with an assistant, he can complete the job in 80 hours. Steve pays his assistant \$18 an hour. Steve estimates that materials and expenses, not including his assistant’s wages, will cost him \$13,500.
• Step 1: Find how much the assistant will get paid for 80 hours of work.
• 10. Step 2: Assistant’s hourly wage: \$18
Number of hours: 80
• Step 3: Multiply: \$18 × 80 = \$1,440
• 11. Step 4:Make Sense?
• 9. Steve estimates were correct. How much was left for him after paying for materials, expenses, and his assistant?
Steve is a builder. He tells the Smiths that he can build a garage for them for \$18,000. He estimates that, working with an assistant, he can complete the job in 80 hours. Steve pays his assistant \$18 an hour. Steve estimates that materials and expenses, not including his assistant’s wages, will cost him \$13,500.
• Step 1: Find how much Steve had after paying for materials, expenses, and his assistant.
• 12. Step 2: Assistant’s wage: \$1,440
Materials and expenses: \$13,500
Estimate: \$18,000
• Step 3: Add wage, material, expenses. \$1,440 + \$13,500 = \$14,940
Subtract.
\$18,000 - \$14,940 = \$3,060
• Step 4:Make Sense?
• Steve is a builder. He tells the Smiths that he can build a garage for them for \$18,000. He estimates that, working with an assistant, he can complete the job in 80 hours. Steve pays his assistant \$18 an hour. Steve estimates that materials and expenses, not including his assistant’s wages, will cost him \$13,500.
10. Although his assistant worked only 80 hours on the garage, Steve actually worked for 90 hours. Calculate his hourly wage.
• Step 1: Find out how much Steve made.
• 13. Step 2: Hours worked: 90
Wage:\$3,060
• Step 3: Divide to find his hourly pay.
\$3,060 ÷ 90 = \$34
• Step 4:Make Sense?