By Alexa Spurlock & Teagan Anders
You are going to the 7th grade dance and you want to know how much money you are going to borrow from your parents. You have figured out the outfit you want to wear is going to cost $56.55, but it is currently on sale for 30% off at the mall and the sales tax is 6%. You will also need to buy the ticket for the dance. If you buy the ticket in advance, it will cost $10.00, but if you buy the ticket at the door the night of the dance, it will cost $15.00. The last thing you will need money is for dinner. You are figuring that you will need $18.00 for the meal, and then you will need to add 6% sales tax and a 20% tip to your meal price.
Question 1: Determine how much money you will need in order to attend the 7th grade dance.
Outfit Cost: $41.92
Meal Cost: $22.89
Ticket: $10.00 (We decided to buy the ticket in advance)
Question 2: If your parents lend you 75.00, is that enough money to cover your costs? Why or why not?
Yes, because our total cost was only $74.81, therefore we would have $0.19 left over if our parents gave us $75.00.
Question 3: What is the percent of change in the price of dance tickets from buying them in advance to buying them at the door?
The percent of change for buying the tickets in advance is a 50% decrease.
Question 4: Your parents have decided you will have to pay them the $75.00 back with an additional interest rate of 5%. How much money will you owe your parents, including interest?
If you used the full $75.00, then you would add the interest rate of $3.75, you would owe your parents $78.75.