ExampleJohanna wants to buy a CD for $17.99. What is the total cost of theCD, including 13% tax?SolutionMethod 1Use the % key.C 17.99 + 13. %20.3287Round your answer tothe nearest centThe total cost of Johanna's CD is $20.33.Note: The method above will work with many calculators. If youhave a scientific calculator, experiment to find out how the % keyworks.Method 2Multiply the cost by 1 plus the percent shown as a decimal.с 17.991.1320.3287Round your answer tothe nearest centThe total cost of Johanna's CD is $20.33. 1. The monthly rent for Theeben's apartment is $625. Hislandlord tells him that next year, the monthly rent willincrease by 6%.a) Calculate Theeben's new monthly rent using Method 1.b) Calculate Theeben's new monthly rent using Method 2.c) Which method do you prefer to use? Why?

given that, The monthly rent of Theeben's apartment is $625 and monthly rent is increased by 6%

1. The monthly rent for Theeben's apartment is $625. His landlord tells him that next year, the monthly rent will increase by 6%. a) Calculate Theeben's new monthly rent using Method 1. b) Calculate Theeben's new monthly rent using Method 2. c) Which method do you prefer to use? Why?

1. The monthly rent for Theeben's apartment is $625. His landlord tells him that next year, the monthly rent will increase by 6%. a) Calculate Theeben's new monthly rent using Method 1. b) Calculate Theeben's new monthly rent using Method 2. c) Which method do you prefer to use? Why?

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter16: Externalities, The Environment, And Natural Resources

Section: Chapter Questions

Problem 2DQ

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Question

Example
Johanna wants to buy a CD for $17.99. What is the total cost of the
CD, including 13% tax?
Solution
Method 1
Use the % key.
C 17.99 + 13. %
20.3287
Round your answer to
the nearest cent
The total cost of Johanna's CD is $20.33.
Note: The method above will work with many calculators. If you
have a scientific calculator, experiment to find out how the % key
works.
Method 2
Multiply the cost by 1 plus the percent shown as a decimal.
с 17.99
1.13
20.3287
Round your answer to
the nearest cent
The total cost of Johanna's CD is $20.33.

1. The monthly rent for Theeben's apartment is $625. His
landlord tells him that next year, the monthly rent will
increase by 6%.
a) Calculate Theeben's new monthly rent using Method 1.
b) Calculate Theeben's new monthly rent using Method 2.
c) Which method do you prefer to use? Why?

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