$34 per hour

1. Agenda 10/3/111. Discuss HW2. Review Items Sets and Formulas3. 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=$1099Price at Today’s Furniture: $1279Step 3: Subtract $1279-$1099= $180Step 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: $150Monthly Payment: $45 Time Period: 3 years = 36 monthsStep 3: Calculate amount from payments: $45 × 36= $1620Add the down payment:$1620 + $150= $1770Step 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 monthsStep 3: Calculate amount from payments: $54 × 24= $1296Add the down payment:$1296 + $200= $1496Step 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: $1496Step 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: $1099Step 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.