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class+March25 - Math 103, Section 11, Friday, March 25,...

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Math 103, Section 11, Friday, March 25, 2011 The Mathematics of Sharing , a few closing words: Problems of fair division are a part of game theory. In the Method of Markers with 4 players, who are the dividers? “Grief can take care of itself, but to get the full value of joy you must have someone to divide it with.” Mark Twain My wish to my students: 1. May you be choosers more than you are dividers. 2. May you, as you travel through life, find someone with whom you can divide your joy! Assignment Chapter 3B Please do Exercises 42, 56, and 70, pages 112-117. Homework is due by Friday, March 25, 5 minutes before midnight Homework to be discussed in class. Page 114, Problem 53 Sealed bids Chapter 10 The Mathematics of Money Assignment Chapter 10A Please do Exercises 18, 24, 30, and 36, pages 392-393 and upload to Sakai. Homework is due by Friday, April 1, 5 minutes before midnight Homework to be discussed in class on Friday, March 25 Exercises 1,3,17, 23. Homework to be discussed in class on Tuesday, March 29 Exercises 23, 31, 35, 37. 1. Suppose that you deposit $1237.50 in a savings account that pays 8.25% annual interest, with interest credited to the account at the end of each year. Assuming that no withdrawals are made, find the balance in the account after 4 ½ years. 2. 45 years ago Sally purchased a bond paying 4% annual compound interest. Today the investment has grown to a value of $23,800. How much did Sally pay for the bond? Round your answer to the nearest dollar. Percentage increase formula
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If you start with the number Q and increase it by x%, your new increased number I is: I =Q+x%*Q or (1+x%)Q Sometimes percentage increases are referred to as mark-ups or profit margins. Increase 35 by 2%. Answer: (1+2%)*35=(1+.02)*35=1.02*35=35.7 Increase 35 by 100%. (100%=1) (1+100%)*35=(1+1)35=2*35=70 Increase 35 by 200% (200%=2) (1+200%)*35=(1+2)*35=3*35=105 Percentage decrease formula: If you start with the number Q and decrease it by x%, your new decreased number D is: D=Q-x%*Q or (1-x%)Q Equivalently, the new number is (1-x%) of the original number Q. Sometimes percentage decreases are referred to as discounts, markdowns, net loss, or percentage off. Example: Decrease 200 by 3% Answer: First find 1-3%=1-.03=.97 .97*200=194 Note: We can ask: 194 is a 3% decrease of what number? 194=0.97X Solving for X, we get X=200. Example: Decrease 200 by 10%. First find 1-10%=1-.10=.90 Answer is 0.90*200=180 Example: Decrease 200 by 2.75%. First find 1-2.75%=.9725 Answer is 0.9725*200=194.50 Example. If the current in-state tuition at Rutgers is T per semester and it increases or decreases by X% next year, as in the table, what will the new tuition be? Put your answers in this table: % Up 1% Up 4% Up 4 and a quarter% Up .4% Up .04% Down 4% Down . 04%
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class+March25 - Math 103, Section 11, Friday, March 25,...

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