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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?