Dave wants to borrow $22,000 from First Finance Bank. The bank will give him a 15-year loan at an interest rate of 4.85%. How much will he pay the bank in interest over the life of the loan? Round to the nearest hundred dollars.
> An electric bill is an essential expense for young people who get their first apartment. The following is a list of Jordan’s monthly electric bills for the past 10 months. $115, $150, $144, $126, $90, $90, $95, $110, $120, $88 Round your answers to the
> A local comic book convention had an admission price of $17. During the week-long show, 19,344 people paid to enter. a. What is the range of the distribution of admission fees? b. What is the standard deviation of the distribution of admission fees? c
> Aileen is a salesperson at Lopez Sporting Goods. She is paid a monthly commission on all Little League uniforms she sells. She receives 10% of her first $2,000 in sales and 12% of the balance of her sales. Last week she earned $231.20. What was the total
> A car dealer pays d dollars for a car, which is sold for c dollars. The commission paid to the salesperson is 24% of the profit. Express the commission algebraically.
> McCormack Chrysler pays their sales staff by commission. They are paid a percent of the profit the dealership makes on the car. If the profit is $500 or less, the commission rate is 17%. If the profit is greater than $500 and less than or equal to $1,100
> There are 5,280 feet in a mile. Round answers to the nearest unit. a. How many miles does a car traveling at 65 mi/h go in 1 hour? b. How many feet does a car traveling at 65 mi/h go in 1 hour? c. How many feet does a car traveling at 65 mi/h go in 1
> Salespersons at the Kings Park Auto Giant are paid a commission, c(p), based on the profit, p. The following piecewise function gives the commission rules. a. If the profit is $1,500, what is the percent commission rate? b. If the profit is $900, what
> Appel’s Music Store pays its sales staff a commission of 9.5% of the first $1,000 in sales and 15.5% of the balance of sales. Alex, the store’s drum expert, received $1,234.25 in commission last week. What were his total sales for the week?
> Mark and Beth are looking at four different homes. They created this spreadsheet to estimate escrow calculations more easily. They will pay the property tax and homeowner’s insurance each month with their mortgage payment. The bank will
> Using the table from Example 2, find the assessed value of the house in the classified ad on the left. New Listing: Cape-Cod style home w/ 2 baths, 700 sq. ft first flr., upstairs 15 x 26 dormer, 12 x 20 garage, gas heat, frpl, basement. Property 1/
> The Merrick Oaks School District offers their employees the following annual pension benefit. First 15 Years of Service ……………………………………………. Service in Excess of 15 Years 2.12% multiplier ………………………………………………………………………… 2.25% multiplier Years of service up t
> Michael used his car for business last weekend. When he reports the exact number of miles he traveled, the company will pay him 52 cents for each mile. At the beginning of the weekend, the odometer in Michael’s car read 74,902.6 miles. At the end of the
> The Merrick Oaks School District offers their employees the following annual pension benefit. First 15 Years of Service ……………………………………………. Service in Excess of 15 Years 2.12% multiplier ………………………………………………………………………… 2.25% multiplier Years of service up t
> The Merrick Oaks School District offers their employees the following annual pension benefit. First 15 Years of Service ……………………………………………. Service in Excess of 15 Years 2.12% multiplier ………………………………………………………………………… 2.25% multiplier Years of service up t
> A commuter budgets $480 per month for transportation. She has determined that the cost of a round-trip train ride is $4 and the cost of each round-trip car ride (factoring in gas, oil, etc.) is $3. a. Write a budget line equation for this situation. b.
> Under his household expense budget category, Mark has allocated $60 per month for pet food. He can purchase wet food in a can for $1.50 per can or dry food in a bag for $3 per bag. a. Determine a budget line equation for this situation. b. Graph the bu
> A spreadsheet user inputs a speed in miles per hour into cell A1. a. Write a formula that would enter the approximate equivalent of that speed in km/h in cell A2. b. Write a spreadsheet formula that would enter the approximate total stopping distance i
> Rich budgets $2,500 in expenses for the month of January. He constructed the two graphs below. Using the prior year’s data and the budget he has created, he budgeted the transportation category for the year as follows. Each of the m
> Mark has two jobs. At his primary job he gets paid with commissions only. Therefore, his monthly income from this job varies. His secondary job has a fixed monthly income. His quarterly dividend checks and interest income have varied but not by a large a
> Aida created the following double bar graph. It illustrates the actual amount spent this year for household expenses per month and the budgeted amounts for the following year. Aida calculated the Year 2 budget amounts by adding a fixed percent increase t
> Construct a bar graph for the September budget category “Personal Items” using the following amounts: Haircut: $20, Clothing purchases: $60, Books: $20, Newspapers/magazines: $65, Online subscriptions: $30, Gifts: $80, Donations: $40, Other: $50.
> Construct a bar graph for Jason’s transportation budget expenses. 400 550 400 650 400 350 200 300 450 500 650 500 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
> Examine the following bar graph that shows budgeted monthly utility expenses for a 1-year period. a. In which months was the same amount budgeted? b. What is the total annual amount budgeted for utilities? c. What percent of the total yearly amount w
> Robbie’s car gets M miles per gallon. Write an algebraic expression that represents the number of gallons he would use when traveling 270 miles.
> Construct a pie chart that shows the following transportation-related expenses: Fuel: $240; Insurance: $80; Public transportation: $200; Parking garage: $120; Repairs: $160.
> Rachel’s health-related budget is as follows: The percentage budgeted for health insurance is four times the percentage for health club dues. The percentage budgeted for prescriptions is equal to one-fourth the percentage budgeted for health insurance. T
> Use the pie chart of a person’s monthly income. a. Suppose the total monthly income is $5,800. Determine the amounts in each income category. b. Suppose the income from the secondary job was $1,225. What would be the total monthly in
> Use the pie chart of a monthly entertainment budget. a. Suppose $600 was budgeted. Determine the exact amount for each category. b. Suppose $72 was budgeted for day trips. What would be the total amount budgeted for entertainment? c. Suppose $310 wa
> Create a year-long budget to chart these expenses: Savings: $600 bimonthly (starting in January); Retirement account: $2,000 quarterly; Checking account: $1,000 semi-monthly; Credit card: $500 monthly; Life insurance: $400 semi-annually; Real estate taxe
> Create a year-long budget check-off chart to chart the following transportation related expenses: Fuel: monthly; Insurance: quarterly; Car maintenance: every 3 months; Car wash: bimonthly; Parking: semi-annually; Public transportation: monthly.
> Explain how that quote can be interpreted in light of what you have learned in this lesson.
> Laura deposits $2,000 in an account that has an annual interest rate of 1.96%, compounded monthly. How much interest will she earn at the end of 1 month? Round to the nearest cent.
> Janine opens a savings account with a deposit of $720. The account pays 1.4% interest, compounded daily. What is the first day’s interest? Round to the nearest cent.
> If a family from the data set in question 2 had a z-score of 1.5, what was their daily expense for food and lodging?
> Becky is planning a 2,100-mile trip to St. Louis to visit a college. Her car averages 30 miles per gallon. About how many gallons will her car use on the trip?
> Interpret the quote in terms of what you have learned about essential and discretionary vacation expenses.
> Pierre deposits $9,000 in a certificate of deposit that pays 1.4% interest, compounded semi-annually. How much interest does the account earn in the first 6 months? What is the balance after 6 months?
> A company produces a security device known as Toejack. Toejack is a computer chip that parents insert between the toes of a child, so parents can track the child’s location at any time using an online system. The company has entered into an agreement wit
> Sally deposits $4,000 in a certificate of deposit that pays 2.12% simple interest. What is her balance after 1 year?
> Jerome deposits $3,700 in a certificate of deposit that pays 1.8% interest, compounded annually. How much interest does Jerome earn in 1 year?
> Getaway Sports is a vacation destination for the serious sports fanatic. Rajesh is in charge of equipment for the complex. The last shipment of Ping-Pong balls was normally distributed with a mean weight of 2.7 grams and a standard deviation of 0.1 gram.
> How might the words in the quote apply to what you learned about interest and savings in this section?
> One day before the end of the month, George had an opening balance of m dollars in an account that pays 1.25% interest compounded monthly. On the last day of the month, he made a deposit equal to twice his opening balance. Express his ending balance on t
> Using the data from question 2, you can compute the mean food and lodging cost of a 10-day vacation by multiplying the per-day mean by 10. The standard deviation for the 10-day vacation can be found by multiplying by 10 also. a. What is the mean for foo
> Linda has d dollars in an account that pays 1.4% interest, compounded weekly. She withdraws w dollars. Express her first week’s interest algebraically.
> On May 29, Rocky had an opening balance of x dollars in an account that pays 1.3% interest, compounded daily. He deposits y dollars. Express his ending balance on May 30 algebraically.
> Steve’s SUV has a 17-gallon gas tank. The SUV gets an estimated 24 miles per gallon. Approximately how far can the SUV run on half a tank of gas?
> A company produces a security device known as Toejack. Toejack is a computer chip that parents insert between the toes of a child, so parents can track the child’s location at any time using an online system. The company has entered into an agreement wit
> Use your answer and the loan information from Exercise 8 to determine what effect a $50 decrease in Louis’s monthly payment would have on the length of his loan. Exercise 8: Louis wants to take out a $14,000 loan with a 6.8% APR. He can afford to pay n
> Louis wants to take out a $14,000 loan with a 6.8% APR. He can afford to pay no more than $400 per month for loan payments. What would be the length of his loan? Round to the nearest tenth of a year.
> Jennifer wants to borrow $20,000. Her bank offers a 7.1% interest rate. She can afford $500 a month for loan payments. What should be the length of her loan to the nearest tenth of a year?
> A bank offers a $25,000 loan at an interest rate of 7.7% that can be paid back over 2–10 years. a. Write the monthly payment formula for this loan situation. Let t represent the number of years from 2 to 10 inclusive. b. Write the total interest formul
> Kevin has x dollars in an account that pays 2.2% interest, compounded quarterly. Express his balance after one quarter in an algebraic formula.
> Charlie and Kathy want to borrow $20,000 to make some home improvements. Their bank will lend them the money for 10 years at an interest rate of 5.75%. How much will they pay in interest?
> Jamie wants to borrow $15,000 from South Western Bank. They offered her a 4-year loan with an APR of 5.5%. How much will she pay in interest over the life of the loan?
> What is the total interest on a 10-year, 6.1% loan with a principal of $32,000?
> Yolanda is planning a 778-mile trip to visit her daughter in Maryland. She plans to average 50 miles per hour. At that speed, approximately how long will the trip take? Express your answer to the nearest tenth of an hour. Then express your answer to the
> A company produces a security device known as Toejack. Toejack is a computer chip that parents insert between the toes of a child, so parents can track the child’s location at any time using an online system. The company has entered into an agreement wit
> In each case, the blue graph represents the expense function and the black graph represents the revenue function. Describe the profit situation in terms of the expense and revenue functions. dollars $100,000 price 100
> How might the quote apply to what you have learned in this section?
> Zeke has a universal life insurance policy with a face value of $200,000. The current cash value of the policy is x dollars. The premium is m dollars per month. He is going to use the cash value to pay for premiums for as long as it can. In those months,
> Use the definition of the greatest integer function to evaluate each of the following. a. [55.9] b. [55.001] c. [0.65] d. [234.11] e. / f. [28.21] g. [19] h. [20.45] i. / j. /
> Use the mortality table below to answer parts a–f. a. The life expectancy column gives the number of years a person of that age is expected to live. What is the life expectancy for a 67-year-old female, rounded to the nearest year? b
> Jonathan has a universal life insurance policy with a face value of $500,000. The current cash value of the policy is $11,260. Jonathan wants to stop paying premiums for a few months while he changes jobs. The premium is $134 per month. a. What will the
> Explain why a 10-year, $200,000 term life insurance policy for a 20-year-old male would have a lower premium than a 10-year, $200,000 term insurance policy for a 50-year-old male.
> Carlotta purchased a whole life insurance policy with an annual premium of $780. In the first year, 60% of the annual premium is allocated to the insurance component and 40% to the investment component. The investment earns 2.2% interest, compounded annu
> New City Insurance Company offers a term life insurance policy with a renewable annual premium. The first year premium is $140. Premiums increase 6% each year. Round to the nearest cent in a-c. a. What will the premium be in the second year? b. What wi
> Premiums for the Sun-Belt Insurance Company are given in the table. Find the annual premiums for the following $250,000 Sun-Belt life insurance policies. a. A 10-year life insurance policy purchased by a 30-year-old male. b. A 20-year term policy for
> What was the previous day’s closing price for each stock? a. Procter & Gamble Co b. Bank of America Corp c. Walt Disney Co d. Kellogg Co PG [email protected] BAC [email protected] DIS 2.55K @95.31V1.08 K [email protected]
> Life insurance companies take risks much like arcade game owners take risks. Mollie has a booth on a popular beach boardwalk. She charges $2 per game. Winners receive a $5 prize. The probability of winning the game is 0.1. a. What is the probability of
> Carlo travels for 3 hours on the highway. His average speed is 55 mi/h. How far does he travel?
> The Durham Insurance Company sells a 5-year term insurance policy with a face value of $100,000 to a 47-year-old man for a monthly premium of $63. The mortality table is given below. a. Find the value of x from the table. b. A man buys a policy on his
> Johan took out a 10-year term policy with a face value of x dollars. Over the lifetime of the policy, he pays monthly payments of m dollars. He dies after making payments for 314 years. a. How many payments did he make? b. Express the total he paid for
> Interpret the quote in the context of what you have learned about life insurance in this section.
> The Lerneg Corporation computed its monthly expense equation as E = 11.00q + 76,000. Its products will be sold to retailers at a wholesale price of $20.00 each. How many items must be sold to reach the breakeven point? Round to the nearest integer.
> Wind-Up Corporation manufactures widgets. The monthly expense equation is E = 3.20q + 56,000. They plan to sell the widgets to retailers at a wholesale price of $6.00 each. How many widgets must be sold to reach the breakeven point?
> Wanda’s Widgets used market surveys and linear regression to develop a demand function based on the wholesale price. The demand function is q = -140p + 9,000. The expense function is E = 2.00q + 16,000. a. Express the expense function in terms of p. b.
> The fixed costs of producing a Wild Widget are $34,000. The variable costs are $5.00 per widget. What is the average cost per widget of producing 7,000 Wild Widgets? Round to the nearest cent.
> The Royal Ranch Pool Supply Corporation manufactures chlorine test kits. The kits have an expense equation of E = 5.15q + 23,500. What is the average cost per kit of producing 3,000 test kits? Round to the nearest cent.
> A company produces a security device known as Toejack. Toejack is a computer chip that parents insert between the toes of a child, so parents can track the child’s location at any time using an online system. The company has entered into an agreement wit
> The expense function for the Wonder Widget is Eq 4.14 55,789 51 . a. What is the fixed cost in the expense function? b. What is the cost of producing 500 Wonder Widgets? c. What is the average cost per widget of producing 500 Wonder Widgets? Round to
> A corporation produces mini-widgets. The variable expenses are $1.24 per mini-widget, and the fixed expenses are $142,900. a. What is the total cost to produce one mini-widget? b. What is the total cost to produce 20,000 mini-widgets? c. Express the e
> Nola’s car gets approximately 42 miles per gallon. She is planning to drive x miles to visit her friends. a. What expression represents the number of gallons of gas she should expect to buy? b. At an average price of $2.38 per gallon, write an expressi
> The Gidget Widget Corporation produces widgets. The fixed expenses are $65,210, and the variable expenses are $4.22 per widget. Express the expense function algebraically.
> Examine the graph of expense and revenue. a. What is the breakeven point? b. If quantity C is sold and C c. If quantity D is sold and D > A, would there be a profit or a loss? Explain. d. The y-intercept of the expense function is Z. Interpret wha
> Variable costs of producing widgets includes the cost of gas required to deliver the widgets to retailers. A widget producer finds the average cost of gas per widget. The expense equation was recently adjusted from E = 4.55q + 69,000 to E = 4.98q + 69,00
> Solve Exercise 9 using the graph intersection feature on your graphing calculator. Are the answers equivalent? Exercise 9: The Lerneg Corporation computed its monthly expense equation as E = 11.00q + 76,000. Its products will be sold to retailers at a
> Interpret the quote according to what you have learned about operating a business in this section.
> Determine the 6-day SMA for the 10-consecutive-trading-day closing prices for SunEdison Inc. listed below. / $2.65 $2.63 $2.70 $2.63 $2.50 $2.65 $2.66 $2.56 $2.52 $2.37
> Determine the 4-day SMA for the 10-consecutive-trading-day closing prices for Toyota Motor Corp listed below. $121.69 $122.85 $120.70 $123.61 $123.18 $122.03 $122.82 $124.14 $124.92 $124.06 A B C 10-day Closing Moving Average 1 Day Price 2 1 35.02
> A company produces a security device known as Toejack. Toejack is a computer chip that parents insert between the toes of a child, so parents can track the child’s location at any time using an online system. The company has entered into an agreement wit
> Determine the 3-day SMA for the 10-consecutive-day closing prices for Procter & Gamble Co listed below. $66.21 $65.90 $67.05 $67.03 $66.80 $66.65 $66.65 $65.80 $65.92 $65.21 A B C 10-day Closing Moving Average 1 Day Price 2 1 35.02 2 35.01 4 3
> Determine the 2-day SMA for the 10-consecutive-day closing prices for Western Digital Corp listed below. $101.96 $101.80 $101.50 $103.07 $104.94 $105.12 $105.66 $104.76 $100.56 $101.31 A B C 10-day Closing Moving Average 1 Day Price 2 1 35.02 2 35
> Determine the 6-day SMA for the 12-consecutive-day closing prices for Exxon Mobil Corp listed below. Day ………………………………………………………………………………………… Closing Price 1 ………………………………………………………………………………………………………… 35.02 2 ………………………………………………………………………………………………………… 35.01
> How might the quote apply to what you have learned?
> Determine the 4-day SMA for the 10-consecutive-day closing prices for Wal-Mart Stores Inc. listed below. Day ………………………………………………………………………………………… Closing Price 1 ………………………………………………………………………………………………………… 35.02 2 ………………………………………………………………………………………………………… 35
> Determine the 5-day SMA for the 10-consecutive-day closing prices for Sherwin-Williams Co listed below. Day …………………… Closing Price 1 …………………&he
> Determine the 3-day SMA for the 10-consecutive-day closing prices of Angie’s List Inc. listed below. Day ………………………………………………………………………………………… Closing Price 1 ………………………………………………………………………………………………………… 35.02 2 ………………………………………………………………………………………………………… 35.01
> The stock chart shows the 3-day, 5-day, and 10-day SMA for 16 consecutive trading days of Facebook Inc. stock. Examine the crossovers between the 9th and the 12th days. Discuss the implications. - 3-Day SMA – 10-Day SMA 114.00 112.00 110.00 108.00 1
> The stock chart shows the 3-day and 10-day SMA for 20 consecutive trading days. Identify the crossovers and discuss the implications. 50 48 46 44 42 40 38 36 34 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Trading Days Closing Price
