Agenda 10/3/11<br />1.  Discuss HW<br />2.  Review Items Sets and Formulas<br />3.  Quiz<br />
3.  Mrs. Allen is considering paying cash for the furniture.  How much can she save by buying the furniture at Family Furn...
Step 2:  Cash Price from 		Family 	  Furniture:</li></ul>              $1199-$100=$1099<br />Price at Today’s<br />       ...
Step 2: Down Payment: $150</li></ul>Monthly Payment: $45 <br />               Time Period:  3 years = 36 	  		        mont...
Step 2:  Down Payment:  $200</li></ul>               Monthly Payment: $54<br />               Time Period:  2 years = 24 	...
Step 2:  Family Furniture Installment</li></ul>               Plan:  $1770 <br />               Today’s Furniture:  $1496<...
Step 4:Make Sense?  </li></li></ul><li>7.  How much more does Family Furniture get for the furniture from a buyer who pays...
Step 2:  Family Furniture Installment</li></ul>               Plan:  $1770 <br />               Family Furniture Cash Pric...
Step 4:Make Sense?  </li></li></ul><li>8.  If the work is done in 80 hours as planned, how much will the assistant get pai...
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Wk2monday

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Lecture from Monday October, 3.

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Wk2monday

  1. 1. Agenda 10/3/11<br />1. Discuss HW<br />2. Review Items Sets and Formulas<br />3. Quiz<br />
  2. 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?<br />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.<br /><ul><li>Step 1: Find the difference between the stores.
  3. 3. Step 2: Cash Price from Family Furniture:</li></ul> $1199-$100=$1099<br />Price at Today’s<br /> Furniture: $1279<br /><ul><li>Step 3: Subtract</li></ul> $1279-$1099= $180<br /><ul><li>Step 4:Make Sense? </li></li></ul><li>4. What is the total price of the furniture from Family Furniture if it is purchased in installments?<br />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.<br /><ul><li>Step 1: Calculate the total cost of the furniture set from Family Furniture if paid in installments.
  4. 4. Step 2: Down Payment: $150</li></ul>Monthly Payment: $45 <br /> Time Period: 3 years = 36 months<br /><ul><li>Step 3: Calculate amount from payments: $45 × 36= $1620</li></ul>Add the down payment:<br />$1620 + $150= $1770<br /><ul><li>Step 4:Make Sense? </li></li></ul><li>5. What is the total price of the furniture purchased in installments from Today’s Furniture?<br />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.<br /><ul><li>Step 1: Calculate the total cost of the furniture set from Today’s Furniture if paid in installments.
  5. 5. Step 2: Down Payment: $200</li></ul> Monthly Payment: $54<br /> Time Period: 2 years = 24 months<br /><ul><li>Step 3: Calculate amount from payments: $54 × 24= $1296</li></ul>Add the down payment:<br />$1296 + $200= $1496<br /><ul><li>Step 4:Make Sense? </li></li></ul><li>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?<br />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.<br /><ul><li>Step 1: Find the difference between the installment plans at each store.
  6. 6. Step 2: Family Furniture Installment</li></ul> Plan: $1770 <br /> Today’s Furniture: $1496<br /><ul><li>Step 3: Subtract: $1770-$1496 = $274
  7. 7. Step 4:Make Sense? </li></li></ul><li>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? <br />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.<br /><ul><li>Step 1: Find the difference between installment and cash payments for Family Furniture.
  8. 8. Step 2: Family Furniture Installment</li></ul> Plan: $1770 <br /> Family Furniture Cash Price: $1099<br /><ul><li>Step 3: Subtract: $1770-$1099 = $671
  9. 9. Step 4:Make Sense? </li></li></ul><li>8. If the work is done in 80 hours as planned, how much will the assistant get paid?<br />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.<br /><ul><li>Step 1: Find how much the assistant will get paid for 80 hours of work.
  10. 10. Step 2: Assistant’s hourly wage: $18</li></ul> Number of hours: 80<br /><ul><li>Step 3: Multiply: $18 × 80 = $1,440
  11. 11. Step 4:Make Sense? </li></li></ul><li>9. Steve estimates were correct. How much was left for him after paying for materials, expenses, and his assistant?<br />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.<br /><ul><li>Step 1: Find how much Steve had after paying for materials, expenses, and his assistant.
  12. 12. Step 2: Assistant’s wage: $1,440</li></ul> Materials and expenses: $13,500 <br />Estimate: $18,000<br /><ul><li>Step 3: Add wage, material, expenses. $1,440 + $13,500 = $14,940</li></ul>Subtract.<br />$18,000 - $14,940 = $3,060<br /><ul><li>Step 4:Make Sense? </li></li></ul><li>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.<br />10. Although his assistant worked only 80 hours on the garage, Steve actually worked for 90 hours. Calculate his hourly wage.<br /><ul><li>Step 1: Find out how much Steve made.
  13. 13. Step 2: Hours worked: 90</li></ul>Wage:$3,060<br /><ul><li>Step 3: Divide to find his hourly pay.</li></ul>$3,060 ÷ 90 = $34<br /><ul><li>Step 4:Make Sense? </li>

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