My Disney World Adventure

By: Macy Horn

Disney World ->

Simple Interest and Compound Interest

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Category One- Souvenir Stand

Category Two- Main Street Magic Shop

Category Three- Candy Palace

Category Four- Disney Clothiers

Category Five- Food

Reflective Essay

In this project we had $500 to spend. We were trying to spend as much as possible without going into the negatives. Also we had to calculate the simple and compound interest, with an interest rate of 5% and we pay it off in 2 years. For the first category I bought a souvenir cup for $15, it was also 20% off. I multiplied 15 times .20, the 15 was the total cost and the .20 was the discount. The product was 3. After that I subtracted 15-3 to get my total cost, it was 12. Then I subtracted 500-12 to get 488. $488 was the money I had left over after shop one. I repeated that process but with different number. In shop 3 I bought 3 life size mickey suckers, and in shop 4 I bought 4 jackets. To get those totals I found how much one jacket/sucker cost (unit rate) and then multiplied it by the quantity I was buying. For lunch I got the nachos and taco with a drink, which cost $15.50. For this I had to calculate tax and a tip, the tax rate was 8% and the tip was 15%. First I multiplied 15.5 times .08 to get the tax amount, it was $1.24. I added $1.24 to $15.5 to get $16.74. Then I multiplied 16.74 times .15 to get the tip amount, the tip amount was $2.51. I added $2.51 to $16.74 and got $19.25, $19.25 is the total amount of lunch. In the end I only had $1.50 left. Then I had to calculate my compound and simple interest. For compound I followed the equation p(1+r)^y. P is the principal, r is the rate, and y is the years. Once I plugged in my number it was 500(1+.05)^2. I got $551.25, $551.25 was my total but to find the interest I subtracted 5551.25-500 to get $51.25. To get my simple interest I followed the equation prt. P is principal, r is rate, and t is time. When I plugged in my number it was 500x.05x2, I got $50. $50 was my interest so to get my total I added 50+500, I got 550. This is how I calculated all the prices for my Disney World adventure.