Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 8 - Personal Finance - 8.1 Percent, Sales Tax and Discounts - Exercise Set 8.1: 54

Answer

The percent increase in average yearly earnings is 46.5%

Work Step by Step

Students majoring in philosophy earn $\$43,000$ per year. Students majoring in accounting earn $\$63,000$ per year. We can find the increase in average yearly earnings. $\$63,000 -\$43,000 = \$20,000$ We can express this increase in average yearly earnings as a decimal of the average yearly earnings for students majoring in philosophy. $\frac{\$20,000}{\$43,000} = 0.465$ To express a decimal as a percent, we can move the decimal point two places to the right. $0.465 = 46.5\%$ The percent increase in average yearly earnings is 46.5%
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