Questions from Financial Algebra

Q: Paul has a universal life insurance policy with a face value of

Paul has a universal life insurance policy with a face value of f dollars. The current cash value of the policy is c dollars. The premium is m dollars per month. He is going to use the cash value to p...

Q: Classic Car Monthly charges $49 for a three-line classified

Classic Car Monthly charges $49 for a three-line classified ad. Each additional line costs $9.50. For an extra $30, a seller can include a photo. How much would a five-line ad with a photo cost?

Q: A local newspaper charges d dollars for a three-line classified

A local newspaper charges d dollars for a three-line classified ad. Each additional line costs a dollars. Express the cost of a six-line ad algebraically.

Q: The straight line depreciation equation for a car is y = -

The straight line depreciation equation for a car is y = -2400x + 36,000. a. What is the original price of the car? b. How much value does the car lose per year? c. How many years will it take for...

Q: Gracie deposited $20,000 into an account that compounds interest

Gracie deposited $20,000 into an account that compounds interest weekly at a rate of 1.56%. Each week, her bank withdraws $200 from the account and puts that amount into her mortgage account. How long...

Q: Jerome just purchased a 4-year-old car for $

Jerome just purchased a 4-year-old car for $12,000. He was told that this make and model depreciates exponentially at a rate of 5.8% per year. What was the original price to the nearest hundred dollar...

Q: The following two-way table displays information about favorite sports cars

The following two-way table displays information about favorite sports cars that resulted from a survey given to all students at Shore High School. a. Find P(B), P(C), P(B|C) and explain whether or...

Q: In 1990, Jerry’s gross pay was $78,000.

In 1990, Jerry’s gross pay was $78,000. a. What was his monthly gross pay? b. In what month did Jerry hit the maximum taxable Social Security income? c. How much Social Security...

Q: Using yearly car values, a graphing calculator has calculated the following

Using yearly car values, a graphing calculator has calculated the following exponential regression equation: y = abx, a = 28,158.50, b = 0.815. a. What is the rate of depreciation for this car? b....

Q: Jonathan’s car gets approximately 25 miles per gallon. He is planning

Jonathan’s car gets approximately 25 miles per gallon. He is planning a 980-mile trip. About how many gallons of gas will his car use for the trip? At an average price of $2.50 per gallon, how much sh...