Finite Math

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Task 1

A. Rounding and Truncation

1. If the student has earned 299 points out of 334, he would receive a number grade of @89.5%. This would be done by dividing 299 by 334 and then multiplying by 100 to convert to a percent. Since I want to round to the nearest whole number, I would examine the number in the tenths place. If the number is five or greater, then I would increase the whole number by one; thus changing the 89.5% to 90%. Student 1 would receive an A for the class since his grade calculated to be 90%.

2. Student 1 would not receive an A if the teacher truncated the grade. Student 1’s original calculation of his grade is 89.5%. If the grade is truncated, then the grade would be cut off at the decimal – no rounding would occur. If this is the case, then the 89.5% would become 89%. To receive an A, Student 1’s grade must calculate to 90% or better. The student would not have made the grade of 90%, because after truncation, the grade would have been 89%.

3a. A taxpayer whose income tax is 27.8% would hope that the rate would be truncated to 27% because it would lead to paying less taxes. Depending upon the amount of money the taxpayer makes would determine how much he would pay back. For example, let’s suppose Taxpayer 1 made $55,000 for the year whereas Taxpayer 2 made $15,000 for the year. If Taxpayer 1 paid taxes at 27.8%, then he would be paying $15,290 in taxes. This would be found by multiplying $55,000 by the decimal form of the percentage rate (0.278). If the tax rate was truncated at 27%, then Taxpayer 1 would pay $14,850 in taxes. This would be found by multiplying $55,000 by the percentage rate (0.27). This would make a $440 difference in the amount of taxes that the taxpayer 1 would pay if the government were to truncate the tax rate. As I stated earlier, the amount of money you make a year determines how high or low the taxes would be. Let’s take Taxpayer 2 for instance. Taxpayer 2 would pay $4,170 in...