Answer: Please refer to Explanation
Explanation:
1. a. Between April 1 and May 1, Bob’s price increased by $0.50 , or by ___ %.
To calculate, divide the difference in the amounts by the amount the change occured from.
The price increased by $0.50 from $4.95. Percentage Increase should be,
= 0.5 / 4.96 * 100%
= <u>10.1%</u>
b. Between May 1 and June 1, Bob’s price decreased by $ , or ____ %.
The Price by $0.5 from $5.95 to $4.95
= 0.5/5.95
<u>= -9.17% (</u>negative because it was a price decrease)
2. Across the street, their price is 20% higher than Bob's.
When Bob's prices are $5.45, there's are,
= 5.45 * ( 1 + 20%)
= 5.45 * 1.2
= $6.54
Difference is,
= 6.54 - 5.45
= <u>$1.09</u>
3. The Fed raised it's rate from 2% to 2.75%.
The change is,
= 2.75% - 2%
= 0.75%
This is a percentage Change of,
= 0.75/2 * 100%
= 37.5%
This change of <u>0.75</u> percentage points means that the Fed raised its target by approximately <u>37.5%.</u>
