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  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.