Exploring Commission and Simple Interest Concepts

What is a commission typically associated with?

• Medical professions

• Sales jobs

• Teaching positions

• Government roles

How is commission calculated?

• Hourly wages

• Fixed salary plus bonuses

• Total sales multiplied by a fixed rate

• Number of hours worked

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

What is the commission percentage for the telemarketer example?

• 6%

• 7%

• 30.5%

• 3.5%

Tags

CCSS.7.RP.A.3

What is the total salary of the pharmaceutical sales rep including commission?

• $80,000

• $24,400

• $92,000

• $116,400

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

What does the 'P' stand for in the simple interest formula I=PRT?

• Percentage

• Profit

• Principal

• Payment

Tags

CCSS.HSA.SSE.A.1

What should the rate be expressed as in the simple interest formula?

• A fraction

• A decimal

• A percentage

• A whole number

How much interest is earned from a $400 deposit over three years at a 7% annual rate?

• $84

• $24

• $300

• $400

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

What is the total interest earned on a $300 investment at 6% for six months?

• $18

• $300

• $9

• $600

Tags

CCSS.HSA.SSE.A.1

CCSS.HSF.LE.A.1

In the example where I=72, P=400, and R=6%, what is the time period in years?

• 10 years

• 5 years

• 1 year

• 3 years

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.REI.B.3

What does the 'T' represent in the simple interest formula I=PRT?

• Total interest

• Time in years

• Tax rate

• Transaction number

Tags

CCSS.HSA.SSE.A.1