During a 6-month period, Xerox stock doubled in price from $7 to $14. What were the amount of change (absolute change) and percentage change (relative change) in the stock price? New price Original price Absolute Change 14 7 7 =New price minus Original price Relative Change 100.00% =Absolute Change/Original price We did this type of problem in the class. Nordstrom plans to mark up a Brahmin Croc Embossed Laptop Case $130.50 over cost, which is a 58% markup based on the cost. Find the cost, the selling price, and the rate of the selling price. Cost + Markup = Sell Price Amount $225.00 $130.50 $355.50 % 100.0% 58.0% 158.0% A corkboard was originally priced to sell at $85 and was reduced by 40%. Find the amount of markdown and the reduced price. Amount Original SP $85.00 Markdown = New Price % 100.0% 40.0% 60.0% Both these types of problems were done in the Week 1 class. st, which is a 58% markup ount of markdown and the This example is identical to the New York and South Dakota problem we did in the class. Suppose that a certain model of Mercedes costs $50,000 and a similar model of Lexus costs $40,000. How do the prices of the two automobiles compare with each other? Mercedes Lexus Difference $50,000 $40,000 $10,000 -- Hint: Make sure this difference is positive. Lexus costs 20.00% (percent) than Mercedes. (Choose one) -- Hint: The reference value is what y comparing against Mercedes. Mercedes Lexus Difference $50,000 $40,000 $10,000 -- Hint: Make sure this difference is positive. Mercedes costs 25.00% (percent) than Lexus. (Choose one) -- Hint: The reference value is what y comparing against Lexus. he reference value is what you compare against. Here, you are g against Mercedes. he reference value is what you compare against. Here, you are g against Lexus. For this problem you can use Goal Seek or the equation. We did this type of problem in the class. At Best Buy the price of a DVD player dropped by 20% to $179. What was the original price to the nearest dollar? New price Original price Absolute Change 179 223 -44 =New price minus Original price Relative change -20% =Absolute Change/Original price If you decide to use Goal Seek: Set Cell: B10 To Value: -0.20 By Changing Cell: Original price (gr de to use Goal Seek: g Cell: Original price (green cell) The annual interest rate for Jack's savings account increased from 2.3% to 2.8%. Describe the change in terms of percentage points (without the % sign) and percentage change (relative change with the % sign) Original Interest Rate New Interest Rate Percentage Points Original Interest Rate New Interest Rate Absolute Change Relative Change 2.3 -- Hint: No percentages, only numbers 2.8 -- Hint: No percentages, only numbers 0.5 = New minus Original. This is percentage points and should be stated with 2.3% 2.8% 0.5% = New minus Original. 21.7% This is a change. So it must be with the % sign. = Absolute Change/Original Interest Rate We did this type of problem in the class. d should be stated without the % sign. Century 21 Real Estate Corporation franchises real estate offices. It has more than 8500 independently owned and operated offices, with locations in all 50 states and more than 60 countries. The firm's Web site, Century21.com, is the fifth most visited real estate Web site on the Internet. Tom Dugally worked as an agent for Century 21 for several years before he received his broker's license. A few years later, he contacted Century 21 and they helped him set up his own real estate office under a Century 21 franchise. He uses percents on a daily basis to find real estate commissions, monitor costs, follow interest rates, estimate property taxes, and keep up with home prices. Part 1 Dugally owned a small apartment complex that was worth $865,000 last year. He sold it for $892,680 this year. Find the percent increase in value. New price Original price Amount of Change Percentage change $892,680 $865,000 27,680 =New price minus Original price 3.20% =Amount of Change/Original price Part 2 Mr. Makin wants Dugally's agency to sell a similar property. Last year, this property had a value of $1,145,000. Use the percent increase from Part 1 above to estimate the current value of this property. For this question, you can use Goal Seek or equations. If you use Goal Seek, then you have to Set Cell B33 to the value obtained in Part 1 above by changing cell B29. Current Value Last year's value Amount of Change Percentage change $1,181,640 $1,145,000 36,640 =Current Value minus Last year's value 3.20% =Amount of Change/Last year's value Part 3 A home owner has a large home overlooking a river that is currently valued at $435,000. If his home price has increased by the percentage you found in part 1 above, find the amount by which it increased in value compared to one year ago. Round all dollar values to the nearest dollar. For this question, you can use Goal Seek or equations. If you use Goal Seek, then you have to Set Cell B46 to the value obtained in Part 1 above by changing cell B43. Current Value Last year's value $435,000 $421,080 Amount of Change 13,920 =Current Value minus Last year's value Percentage change 3.20% =Amount of Change/Last year's value Part 4 The total real estate commissions paid to Dugally's real estate agency for the quarter were $237,075. If 65% of those funds are paid directly to the self-employed real estate agents that work in the office under Dugally, find the amount the real estate office keeps. He uses these funds to pay for office, computer, advertising expenses, unilities, etc. Total commissions $237,075.00 Percentage of funds paid to realestate agents 65% Amount of funds paid to the realestate agents Amount the office keeps $154,098.75 =Percentage paid * Total commissions $82,976.25 =Total commissions - Amount paid value of this nt by which it