Lin is shopping for a couch with her dad and hears him ask the salesperson, “How much is your commission?” The salesperson says that her commission is \(5\frac12\%\) of the selling price.

1. How much commission will the salesperson earn by selling a couch for \$495?
2. How much money will the store get from the sale of the couch?

A college student takes out a $7,500 loan from a bank. What will the balance of the loan be after one year (assuming the student has not made any payments yet):

1. if the bank charges 3.8% interest each year?

2. if the bank charges 5.3% interest each year?

Match the situations with the equations.