block 1 financial math final exam (show your work!) prob 1. what is the percent of decrease from 60 to 48…

block 1 financial math final exam (show your work!) prob 1. what is the percent of decrease from 60 to 48? write your answer using a percent sign (%). prob 2. what is the percent of increase from 5,000 to 7,000? write your answer using a percent sign (%). prob 3. jared has $12,050 in a savings account that earns 9% interest per year. the interest is not compounded. how much will he have in total in 4 years? use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years. prob 4. tyrone earned $84,000 working as a security guard. he worked for 84 weeks. how much did tyrone earn per week?

block 1 financial math final exam (show your work!) prob 1. what is the percent of decrease from 60 to 48? write your answer using a percent sign (%). prob 2. what is the percent of increase from 5,000 to 7,000? write your answer using a percent sign (%). prob 3. jared has $12,050 in a savings account that earns 9% interest per year. the interest is not compounded. how much will he have in total in 4 years? use the formula i = prt, where i is the interest earned, p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years. prob 4. tyrone earned $84,000 working as a security guard. he worked for 84 weeks. how much did tyrone earn per week?

Answer

Explanation:

Step1: Calculate the amount of decrease for Prob 1

$60 - 48=12$

Step2: Calculate the percent of decrease for Prob 1

$\frac{12}{60}\times100% = 20%$

Step3: Calculate the amount of increase for Prob 2

$7000 - 5000 = 2000$

Step4: Calculate the percent of increase for Prob 2

$\frac{2000}{5000}\times100%=40%$

Step5: Calculate the interest for Prob 3

$p = 12050$, $r=0.09$, $t = 4$. Using $i=prt$, we have $i=12050\times0.09\times4=4338$

Step6: Calculate the total amount for Prob 3

Total amount $=p + i=12050+4338 = 16388$

Step7: Calculate the weekly - earning for Prob 4

$\frac{84000}{84}=1000$

Answer:

Prob 1: 20% Prob 2: 40% Prob 3: 16388 Prob 4: 1000