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Math Help - Percentage Change

  1. #1
    Junior Member
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    Percentage Change

    I wasn't sure if this problem is categorized under statistics, algebra, or calc so I just assumed statistics. Anywho.. I am having difficulty understanding this question:

    On May 16, 2000, the US Federal Reserve increased its target for the federal funds rate from 6.00% to 6.50%. This change of ___________ means that the Fed raised its target by approximately __________________.

    For the first blank it is looking for a change of percentage points. Would it be a .50% change in percentage points? & For the second blank it is looking for the percentage of how much the Fed raised its target; which I cannot seem to figure out. Any suggestions/help would be awesome!
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  2. #2
    Super Member
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    Re: Percentage Change

    Yes the first part is 0.50%

    For the second part, percentage change is the change relative to the original

    \text{percentage change}=\frac{\text{final}-\text{original}}{\text{original}}

    \text{percentage change}=\frac{6.5-6}{6}
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