Rob bought a 1965 Fender Jazz master vintage electric guitar in 1980 for a price of $150. In 2017 it was appraised for $4,500. You are going to compare this appraised value to what the $150 would have earned if it was deposited in a certificate of deposit for those 37 years. Interest on all of Rob’s CDs is compounded continuously. a. If the account paid 12.3% interest for the first 7 years, what would the balance be after the first 7 years? Round to the nearest cent. b. If the account paid 6% interest for the next 10 years, what would the balance be after the first 17 years? Round to the nearest cent. c. If the account paid 4.1% interest for the remaining 20 years, what would the balance be after the 30 years? Round to the nearest cent. d. What is the difference between the appraised value of the guitar and the amount the original $150 would have earned in the bank?
> In the 1950s and 1960s, baseball trading cards were sold in packages of five cards with a stick of gum for 5 cents. So each card cost approximately 1 cent. A 1953 Mickey Mantle card can sell for over $1,000 today in good condition. What would 1 cent have
> Lindsay invests $80 in an account that pays 1% annual interest, compounded monthly. Michele invests $60 in an account that pays 2% annual interest, compounded weekly. a. Whose balance is greater after 1 year? b. Whose balance is greater after 12 years?
> Which of the following scatter plots shows a correct line of best fit? a. b.
> The table on the right, from the Statistical Abstract of the United States, shows amusement park attendance at the top 15 amusement parks for given years. Year (x) ……………………………………………. Amusement Park Attendance at Top 15 Amusement Parks (in thousands) (y
> Describe each of the following correlation coefficients using the terms strong, moderate, or weak and negative, or positive. a. r = 0.21 b. r = -0.87 c. r = 0.55 d. r = -0.099 e. r = 0.99 f. r = -0.49
> Over the past 4 years, Reggie noticed that as the price of a slice of pizza increased, her college tuition also increased. She found the correlation coefficient was r = 0.49. a. Which of the following scatter plots most accurately displays Reggieâ
> Back-to-school shopping is a very big business. Some may consider these expenses essential while others look at them as discretionary costs. However, you look at it, the data of the average dollars spent per family with school-age children is very intere
> At the end of 2015, the U.S. Bureau of Economic Analysis posted the following data on the U.S. disposable personal income by month for the first 11 months of that year as indicated in this table: Month …………………………. Disposable Personal Income (billions of
> The My-Tunes song app sells music downloads. Over the past few years, the service has lowered its prices. The table shows the price per song and the number of songs downloaded per day at that price. Price per Song …………………………………………. Number of Downloads (
> It is important to check your credit card bill each month. In the next section, you will carefully examine a credit card statement and learn how to look for errors. Most people would notice a major, expensive purchase that they did not make. A smaller, i
> Kristin’s credit rating was lowered, and the credit card company raised her APR from 14% to 15.2%. If her average daily balance this month is x dollars, express algebraically the increase in this month’s finance charge due to the higher APR.
> Jill’s credit card was stolen. The thief charged a $900 kayak on the card before she reported it stolen. a. How much of the thief’s purchase is Jill responsible for? b. Jill’s average daily balance would have been $1,240 without the thief’s purchase. W
> Ronaldo is retiring from his government job. His annual pension will be $61,000, which he will receive every year until he dies. However, he has a choice to make. If he agrees to take a 10% reduction in his pension, his wife can continue to receive that
> Express the missing entries in the debit card register algebraically. NUMBER OR COD PAYMENT AMOUNT DEPOBIT AMOUNT $ BALMICE DATE TRANSACTION DESCRPTON FEE 12/3 Arloff's Gifts a. 12/6 Вопnics Boutique b. 12/7 Gas с. 12/11 Cable TV d. 12/12 Deposit e.
> Construct a scatter plot using the year number as the x-coordinate and catalog album sales as the y-coordinate. Use 0 < x < 8 as the x-axis interval and 100 < y < 220 as the y-axis interval. a. Use the scatterplot points to find the equation of the line
> The terms of Medina’s credit card state that the APR is 17.4%, and if a payment is not received by the due date, the APR will increase by w percent. The credit card company received Medina’s payment 3 days after the due date in February. Write the intere
> Ron did not pay his credit card bill in full last month. He wants to pay it in full this month. On this month’s bill, there is a mistake in the average daily balance. The credit card company lists the average daily balance on his bill as $510.50. Ron com
> Is it possible for a linear regression line to go through every point on a scatter plot? Is it possible for a linear regression line to not go through any point on a scatter plot? Explain
> If $3,000 is invested at an interest rate of 1.8%, compounded hourly for 2 years, what is the ending balance, to the nearest cent?
> Jared’s average daily balance for last month was $560. The finance charge was $8.12. a. What was the monthly percentage rate? b. What was the APR?
> Suzanne’s average daily balance for last month was x dollars. The finance charge was y dollars. a. What was the monthly percentage rate? b. What was the APR?
> Mike deposits $5,000 in a 3-year CD account that yields 1.5% interest, compounded weekly. What is his ending balance, to the nearest cent, at the end of 3 years?
> Vincent had these daily balances on his credit card for his last billing period. He did not pay the card in full the previous month, so he will have to pay a finance charge. The APR is 19.2%. 9 days @ $778.12 8 days @ $1,876.00 4 days @ $2,112.50 10
> Felix and Oscar applied for the same credit card from the same bank. The bank checked both of their FICO scores. Felix had an excellent credit rating, and Oscar had a poor credit rating. a. Felix was given a card with an APR of 14%. What was his monthly
> In 1974, Robin bought a classic 1955 Ford Thunderbird for $2,000. Over the next 30 years, she invested approximately $1,000 per year into restoring the car to its original condition. In 2004, she sold it for $54,000. a. Imagine she chose not to invest i
> Discretionary music purchases are a big business. Albums can be downloaded, streamed, played from a CD, played on vinyl, and more. What types of albums are being purchased in the United States? Music albums can be classified as current or catalog albums.
> Dan’s credit card was lost on a vacation. He immediately reported it missing. The person who found it days later used it, and charged x dollars’ worth of merchandise on the card, where x > $200. How much of the x dollars is Dan responsible for paying?
> Janine’s credit card was stolen, and the thief charged a $44 meal before she reported it stolen. How much of this is Janine responsible for paying?
> How might the words in the quote apply to what you have learned about compound interest this section?
> Use the table in Example 2 to answer these questions. a. Add a relative frequency column. Calculate the relative frequencies. Round each to the nearest thousandth. b. Which price range(s) has a relative frequency greater than 0.18 and less than 0.27?
> Arrange the following lending institutions in descending order according to their APRs for a $10,000, 2-year loan. East Meadow Savings ………………………………………………………………………………. 4 1 2 % Clinton Park Credit Union ………………………………………………………………………… 4% Tivoli Trust ……………
> Interpret the quote in the context of what you learned about loans in this section and on your experiences or expectations.
> Use the round-trip airfare table in problem 5 above to determine the percentile rank of $1,133.
> Seaquoia River Cruises offers a 7-day travel package. The prices vary based on the room class booked, as indicated in the following spreadsheet: Write the spreadsheet formulas for the indicated cells. a. C9 b. D3 c. D7 d. E4 A B D E F Number Re
> Four car rental prices were quoted for a 3-day rental. The frequencies are listed. Let x represent the frequency of the $240 price quote. Use the information shown in the chart to write algebraic expressions for the entries labeled a through&
> For many travelers, the cost of getting to an airport needs to be factored into the travel expense. The table at the right lists the cost of six different ways to get from the center of a major city to the nearest airport. A researcher polled travelers t
> The following table shows the number of times Key Club students at Peconic High School went to Echo Beach last summer. Number of Echo Beach Trips ……………………………………………………… Frequency, f 5 …………………………………………………………………………………………………………………. 8 6 ………………………………………………………
> Jacques is planning to set up a $70,000 investment portfolio. He plans on investing 20% in stock, 20% in bonds, 20% in collectibles, and the remainder into a 10-year certificate of deposit. a. How much is invested in the CD? b. If the CD earns 6% inter
> The following spreadsheet can be used to compute monthly payments given the APR, principal, and term of the loan. a. Write the spreadsheet formula to compute cell D2. b. Write the spreadsheet formula to compute cell E2. c–h. Use you
> A loan used for buying a home is called a mortgage. The Fortunato family is borrowing $430,000 to buy a home. They are taking out a 30-year mortgage at a rate of 3.55%. a. Compute the monthly payment to the nearest cent. b. Find the total of all of the
> Lee wanted to compute the monthly payment on a 2-year, $8,400 loan at an APR of 3.07%. She entered the keystrokes at the right on her calculator. The display gives an answer of 48, which Lee knows is incorrect. Explain what her error was. 8400 (0.03
> Use the cruise ship room price table in problem 7 above to determine the percentile rank of $6,962.
> Olivia is considering membership to the Regional Teachers’ Credit Union so that she can save money on a loan. The credit union will lend her $8,000 for 3 years at 2.25% APR. The same loan at her savings bank has an APR of 2.9%. How much would Olivia save
> Reggie needs a quick x-dollar loan until his next payday in 2 weeks to take advantage of a sale on ski equipment. The bank would take too long on the paperwork, so he goes to a pawnshop. The pawnshop will only lend him 25% of the value of his collateral.
> Solomon is taking out a $15,320, 2-year loan with an APR of 3.29%. What will be the finance charge for this loan to the nearest dollar?
> Lavonda took out a $7,500 loan with an APR of 3.875% and agreed to pay it back monthly over 6 years. How many monthly payments did she make?
> Jordan is taking out a 2-week payday loan for $600. He will be charged $95 interest for the 2-week loan. What is the APR for this loan?
> Since vacation travel is a discretionary expense, consumers want to make the most out of the money they have budgeted. They often check travel websites for hotel ratings before making any reservations. A popular travel website offers travelers the opport
> The policy of the Broadway Pawnshop is to lend up to 35% of the value of a borrower’s collateral. John wants to use a $3,000 ring and a $1,200 necklace as collateral for a loan. What is the maximum amount that he could borrow from Broadway?
> Melissa wants to check the accuracy of the finance charge on her promissory note. She has a $6,000, 4-year loan at an APR of 3.11%. Round to the nearest cent. a. What is her monthly payment? b. What is the total of all her monthly payments? c. What is
> Darnelle has a $10,000, 3-year loan with an APR of 5%. She uses the table on page 159 to compute information on the loan. a. What is her monthly payment? b. What is the total of all her monthly payments? c. What is the finance charge?
> Explain how the quote can be interpreted in light of what you have learned in this section.
> How many monthly payments must be made for a 2½-year loan?
> How many more monthly payments are made for a 5-year loan than for a 2-year loan?
> The quartiles of a data set are Q1 = 50, Q2 = 72, Q3 = 110, and Q4 = 140. Find the interquartile range.
> Interpret the quote in the context of what you learned about statistics in this lesson.
> Rochelle turned age 62 in 2016. She earned an average of x dollars per month (adjusted for inflation) over her highest-paying 35 years, where x > 5,157. Express her Social Security full retirement benefit algebraically.
> The senior class is planning a graduation trip. The trip committee surveyed the 250 seniors asking the amount they were willing to spend on the entire trip. The survey results are shown in this table. Amount ……&ac
> Rachael turned age 62 in 2016. a. Compute her Social Security full retirement benefit if her average monthly salary over her 35 highest-paying years was $3,100. Round to the nearest cent. b. If she starts collecting her benefit at age 66, what will her
> Stacy was a stay-at-home mom for most of her adult life. At age 46, she started working outside the home. Each year she earns the maximum number of Social Security credits. Until what age must she work to qualify to receive Social Security benefits when
> When Abram was born, his parents put $2,000 into an account that yielded 1.2% interest, compounded semi-annually. When he turns age 16, his parents will give him the money to buy a car. How much will Abram receive on his 16th birthday?
> In 1980, the amount of earnings required to earn one Social Security credit was $290. Back then, Mike earned $55 per week. How many credits did he earn in 1980?
> An educational organization is planning to analyze the study habits of college freshmen. A professor at Harvard University volunteers to have his class take the survey. a. What type of sample is this? b. Can you list some disadvantages of surveying thi
> In 1978, the amount of earnings required to earn one Social Security credit was $250. Thirty-eight years later, in 2016, this amount was $1,260. What was the percent increase in the amount required to earn a credit over this 38-year span? Round to the ne
> In a certain year, the maximum taxable income for Social Security was x dollars and the tax rate was 6.2%. a. Express algebraically the maximum Social Security tax anyone could have paid in that year? b. Paul had two jobs that year. One employer paid h
> In 2016, the maximum taxable income for Social Security was $118,500 and the tax rate was 6.2%. a. What is the maximum Social Security tax anyone could have paid in the year 2016? b. Randy had two jobs in 2016. One employer paid him $67,010 and the othe
> This year Frank pays m dollars for Medicare Part B coverage. He reads that this cost will go up 12.3% next year. Express next year’s cost algebraically.
> If George pays x dollars monthly for Medicare Part B coverage, express his annual cost for Part B coverage algebraically.
> The following table lists the amount of discretionary spending by college students from 2008 to 2013 in billions of dollars. a. Write the formula for the mean yearly college student discretionary spending amount over the 6-year period using sigma notat
> Linda and Rob are married filing a joint Form 1040. Rob is collecting Social Security, but Linda is not. They are filling out the Social Security worksheet (shown in Exercise 11) so they can determine the amount of Rob’s Social Security benefits that the
> Roberta’s Social Security full retirement benefit is $2,101. She started collecting Social Security at age 64, and her benefit is reduced since she started collecting before age 67. Find her approximate Social Security benefit.
> Dominique is single. She is filling out the Social Security worksheet so she can determine the amount of her Social Security benefits that she will pay federal income tax on. Fill in the following lines with Dominique’s tax information
> Barbara wants to restore her ’66 Mustang in 4 years. She puts $200 into an account every month that pays 1.05% interest, compounded monthly. How much will be in the account after 4 years?
> Sascha was born in 1951. Her Social Security full retirement benefit is x dollars. She started collecting Social Security at age 65, so her benefit is reduced. Express her approximate Social Security benefit algebraically.
> Interpret the quote in the context of what you know about American history and/or the challenges facing senior citizens.
> As part of a study on exercising, Liam has to use a treadmill for 20 minutes each day, and then take and record his heart rate and blood pressure. Liam skips days, sometimes doesn’t do the entire 20 minutes, and sometimes forgets to record his heart rate
> A school’s student government organization is doing a study of students who copy each other’s homework. They randomly select 200 students and have them fill out an anonymous questionnaire. Which do you think is a greater problem in this scenario, nonresp
> Imagine a population of six brands of sneakers; All Star, Bikees, Cadverse, Didas, Evia, Falance. Represent these brands by the letters A, B, C, D, E, and F. a. How many different samples of size 2 can be taken without replacement? b. Make a list of al
> The New York Metropolitan area has nine major professional sports teams: Mets (M), Yankees (Y), Knicks (K), Rangers (R), Devils (D), Nets (N), Islanders (I), Giants (G), Jets (J) Marra’s Sporting Goods is going to randomly pick three teams to feature in
> Jack wants to buy a pair of name-brand headphones on a popular auction website. He enters the brand, make, and model number and searches the site for what is available. He notices that some headphones are being offered as “buy nowâ
> Barnes and Noble had a $0.15 annual dividend during 2016. If you owned 500 shares of Barnes and Noble at that time, how much did you receive on a quarterly dividend check?
> The social studies department at Fox Ridge High School is looking to determine the current events knowledge of their juniors. Mrs. Gonzalez has a class of juniors in her social studies class and agrees to give the survey there. Explain why this survey is
> These six automobile designers need to test the ride comfort of a new prototype car: Amit (A), Bob (B), Chase (C), Dom (D), Eddie (E), Ferris (F) a. Only four at a time can ride in the car. How many different samples of four, taken without replacement,
> A local judicial system is seeking information on people to serve jury duty. They send a survey to all licensed drivers in their locale. Explain why this surveying technique is poor due to under coverage.
> Write a formula to determine the net change for each. Use the left side of the equation to indicate in which cell to store the formula. a. Microsoft Corp b. Apple Inc. A B C D E G H 1 February 25 Close February 24 Volume in Close Volume in Symbol
> When Derrick turned age 15, his grandparents put $10,000 into an account that yielded 1.4% interest, compounded quarterly. When Derrick turns 18, his grandparents will give him the money to use toward his college education. How much does Derrick receive
> Write the profit function for the given expense and revenue functions. E = 212,500p + 178,000 R = 21,450p2 + 155,000p
> Write a formula to determine the percent change for each of the following. Use the left side of the equation to indicate in which cell to store the formula. a. Apple Inc. b. Cooper Tire & Rubber Co A B C D E G H 1 February 25 Close February 2
> Write a formula to determine the close on February 24 for each of the following. Use the left side of the equation to indicate in which cell to store the formula. a. NETGEAR Inc. b. Ford Motor Co A B C D E G H 1 February 25 Close February 24 Volu
> Write a formula that will store the exact volume for each stock in column I. Use the left side of the equation to indicate in which cell to store the formula. a. Build-A-Bear Workshop Inc. b. NETGEAR Inc. A B C D E G H 1 February 25 Close Februar
> The following is a list of the number of mobile electronic devices owned by the four members of Valley High School’s Board of Education. 7, 5, 2, 3 If all samples of size 2 are taken with replacement, determine if the standard deviation is an unbiased es
> Isaac follows the market action of Google Inc. He has watched the prices for 2 consecutive days. The information he collected is given in the table. Do the September 23 numbers reflect a positive or negative money flow? Explain. Date High Low Close
> Grand Central High School has an enrollment of 2,170 students. They are taking a sample of 200 students to survey them about a proposed school policy. Rather than take a simple random sample, they want the sample to have the same percentage breakdown of
> The Bloom Biscuit Company is planning a marketing strategy for the upcoming year. They plan on doing a survey to see how many residents in their state bake. Marketing assistants randomly call homes during their 9:00 a.m.–5:00 p.m. work shift, and find ou
> Interpret the quote in terms of what you have learned about the importance of sampling to marketing.
> Which of the following is a true statement? Explain your reasoning. The 52-week high can never be higher than the day’s high. The day’s high can never be higher than the 52-week high.
> If the April 23 net change for Toyota was 10.79, what was the closing price for that day? Low 52-Week High 52-Week Low Symbol 198,600 Stock Last Change Volume High 232,420 BRK-A Berkshire 199,740 +35 186 198,800 198,700 Hathaway 51.44 38.06 VZ Veriz
> On April 22, which stock(s) had a 52-week high that was approximately 30% higher than the 52-week low? Low 52-Week High 52-Week Low Symbol 198,600 Stock Last Change Volume High 232,420 BRK-A Berkshire 199,740 +35 186 198,800 198,700 Hathaway 51.44 3
> Arianna deposits $500 in an account that pays 1.3% interest, compounded semi-annually. How much is in the account at the end of 2 years?
> Use the information from Exercise 5 to determine the percent of net change from April 21 to April 22 for each of the corporations listed in that question. Round answers to the nearest tenth of a percent. Low 52-Week High 52-Week Low Symbol 198,600 S
