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Real World Applications

You have just graduated from high school and planning to move out on your own. You have to get a job to pay the bills and plan a budget to take care all of your other basic needs. Work each of the situations carefully and give the answer that is best for each situation.

1. You have a chance to get a job at MelMax Enterprises. There you will work in sales. You will earn $245 a week plus $3.25 for each item sold. Create a chart and write an equation to show how you will get paid.

Items sold 0 1 2 3 4 5 6 7
Money earned

2. You see a house for sale listed at $78,500. A realtor can gives you several mortgage options for the house. 1) 25 yrs, at 6.7% 2) 30 yrs, at 5.6% and 3)50 yrs, at 4.1%. Find the interest that would be paid on each option to show which is the better deal.

3. To get to work you will buy a new car. The car cost $23,000. You elect to pay for the car over a 5 year period at a rate of 5.6%. Calculate the interest you will......

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Approximate Word Count: 417
Approximate Pages: 2 (250 words per double-spaced page)

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