The previous balance after the last billing cycle is represented by A, recent purchases by B, payments by C, finance charge by D, late charge by E. Express the relationship among the variables that must be true in order for the new balance to be $0.00.
> Ethel rented an apartment from a landlord in Sullivan County. Her rent was $1,200 per month until she moved out last week. The new tenants pay $1,350 per month. Represent the rent increase as a percent, to the nearest tenth of a percent.
> Raymond pays $1,000 per month in rent, and he is expecting a rent increase. His landlord agreed to a gradual increase according to the following plan: January, 0% increase February, 5% increase March, 10% increase from January April, 15% increase from Ja
> The Jacobs Family owned a condo in Bethpage Acres. They bought it for $130,000 6 years ago and sold it last week for $195,000. Who keeps the profit from the sale?
> Ron has a co-op in Astor Cooperative. The total shares in the cooperative are 40,000 shares. If Ron owns 500 shares, what percentage of the cooperative corporation does he own?
> Sarah is taking out a $24,400, 4-year new-car loan with an APR of 2.88%. What is the finance charge for this loan? Round to the nearest hundred dollars.
> Last year, Anna paid x dollars per month for a co-op maintenance fee. One third of this fee was for property taxes. How much property tax did Anna pay last year?
> Three years ago, Jerry purchased a co-op. This year his monthly maintenance fee is $1,397. Twenty percent of this fee is for Jerry’s property taxes. How much will Jerry pay this year in property taxes?
> Joe wants to rent an apartment with an initial monthly rent of $1,400. He has been told that the landlord raises the rent 1.25% each year. Set up an exponential function that models this situation. Calculate the rent after 12 years. Round to the nearest
> The Tensers bought a mobile home for $89,500. They rent space in a trailer park for $900 per month. The rent increases 2% per year. a. If they put a down payment of $10,000 on the trailer, how much must they borrow? b. If they borrow the amount from pa
> The monthly rent for a one-bedroom apartment at North Shore Towers for 6 consecutive years is shown in the table. Year ……………………………………………………………………………. Monthly Rent ($) 2011 ……………………………………………………………………………………………… 2,500 2012 ………………………………………………………………………………………
> Monthly rent at Countryside Co-ops has increased annually, modeled by the exponential equation y = 2,155(1.062)x-1 . What was the percent increase per year?
> Maria borrowed $120,000 from a bank when she bought her co-op for $156,000. The price dropped x dollars since she bought it. She now owes the bank $114,000, which is more than she could sell the co-op for. Write an inequality that expresses the fact that
> Andrew and Meghan moved into an apartment in the city and pay $2,700 rent per month. The landlord told them the rent has increased 11.1% per year on average. a. Express the rent y as an exponential function of x, the number of years they rent the apartm
> Which of the following matrix operations are defined? 7 8 2 1 0 2 3 6 5 9 9 8 7 C = Given A = 4 B = 6. D = 1 2 3 4 3 4 5 6 2 1 7 8 9 9 4 5 6 E = 8 7 6 5 F = [4 3] G= 0 1 H= 7 8 9 2 3 а. А + В b. А +H с. 2Н — ЗА d. G +H е. ВС f. АЕ g. A? h. D?
> What does this quote mean to you when viewed in the context of what you learned in this section?
> Carly took a $7,000, 3-year loan with an APR of 3.15%. a. What is the monthly payment? Round to the nearest cent. b. What is the total amount of the monthly payments? c. What is the finance charge?
> The historical prices of a car are recorded for 11 years as shown. a. Construct a scatter plot for the data. b. Determine the exponential depreciation equation that models this data. Round to the nearest hundredth. c. Determine the depreciation rate
> A graphing calculator has determined this exponential regression equation based on car value data: y = a∗ bx, a = 18,547.23 5, and b = 0.86255. What is the rate of depreciation for this car? How much is this car worth after 6 years; 78 months; w months?
> A graphing calculator has determined this exponential regression equation based on car value data: y = a∗ bx 5, a = 20,952.11, and b = 0.785 5. What is the rate of depreciation for this car? How much is this car worth after 6 years; 78 months; w years?
> Luisa purchased a used car for D dollars. The car depreciates exponentially at a rate of E% per year. Write an expression for the value of the car in 5 years, in A years, and in M months.
> Laura’s new car cost her $21,000. She was told that this make and model depreciates exponentially at a rate of 8% 5 8 per year. How much will her car be worth after 100 months?
> Chris purchased a used car for $19,700. The car depreciates exponentially by 10% per year. How much will the car be worth after 6 years? Round your answer to the nearest penny.
> Shannon’s new car sold for $28,000. Her online research indicates that the car will depreciate exponentially at a rate of 5.25% per year. Write the exponential depreciation formula for Shannon’s car.
> Seamus bought a car that originally sold for $40,000. It exponentially depreciates at a rate of 7.75% per year. Write the exponential depreciation equation for this car.
> Amber bought a used car valued at $16,000. When this car was new, it was sold for $28,000. If the car depreciates exponentially at a rate of 9% per year, approximately how old is the car?
> What are the dimensions of each of the following matrices? a. [7] -3 b. 3 c. [4 10 17 15 11] с. 1 0 0 d. 0 1 0 0 1 е. 0.5 0.75 0.125 0.2 0 0 0 0
> Sal took out a 20-day payday loan from the Just Loans store. He borrowed $350 and is being charged $75 interest. What is the APR for this loan?
> A new car sells for $27,300. It exponentially depreciates at a rate of 6.1% to $22,100. How long did it take for the car to depreciate to this amount? Round your answer to the nearest tenth of a year.
> What is the exponential depreciation rate, expressed as a percent to the nearest tenth of a percent, for a car that originally sells for $52,000 when new but exponentially depreciates to $45,000 after 32 months?
> What is the exponential depreciation rate, expressed as a percent to the nearest tenth of a percent, for a car that originally sells for $30,000 when new but exponentially depreciates after 5 years to $18,700?
> Chaz bought a 2-year-old car. He paid D dollars. This make and model depreciates at a rate of E percent per year. Write an expression for the original selling price of the car when it was new.
> The car that Diana bought is 8 years old. She paid $6,700. This make and model depreciates exponentially at a rate of 14.15% per year. What was the original price of the car when it was new?
> Raphael purchased a 3-year-old car for $16,000. He was told that this make and model depreciates exponentially at a rate of 5.45% per year. What was the original price value of the car when it was new?
> The historical values of a car are recorded for 17 years as shown. a. Construct a scatter plot for the data. b. Determine the exponential depreciation formula that models this data. Round to the nearest hundredth. c. Determine the depreciation rate.
> How might the quote apply to what you have learned?
> Rebecca has a credit limit of $6,500 on her credit card. She had a previous balance of $398.54 and made a $250 payment. The total of her purchases is $1,257.89. What is Rebecca’s available credit?
> Rollie has a credit card with a credit limit of $4,000. He made the following purchases: $425.36, $358.33, $377.11, and $90.20. What is Rollie’s available credit?
> Pauline’s credit card was lost on a business trip. She immediately reported it missing to her creditor. The person who found it hours later used it and charged w dollars’ worth of merchandise on the card, where w < $50. How much of the w dollars is Pauli
> Examine this portion of Colleen’s budget chart for July, August, and September: Let matrix C be a 6 ×3 matrix whose elements are the entries in the budget chart above. a. What is the value of the element C3,
> What is the previous balance? ACCOUNT INFORMATION Account Number 4-10700000 Billing Date 30 May Payment Due 8 Jun TRANSACTIONSS DEBITS / CREDITS (-) 9 MAY 3291684271 Fanelli Furs $975.00 12 MAY 594683219 Brooklyn Pets $32.50 15 MAY 7677095385 Maple
> How many days are in the billing cycle? ACCOUNT INFORMATION Account Number 4-10700000 Billing Date 30 May Payment Due 8 Jun TRANSACTIONSS DEBITS / CREDITS (-) 9 MAY 3291684271 Fanelli Furs $975.00 12 MAY 594683219 Brooklyn Pets $32.50 15 MAY 7677095
> What is the minimum amount that can be paid? ACCOUNT INFORMATION Account Number 4-10700000 Billing Date 30 May Payment Due 8 Jun TRANSACTIONSS DEBITS / CREDITS (-) 9 MAY 3291684271 Fanelli Furs $975.00 12 MAY 594683219 Brooklyn Pets $32.50 15 MAY 76
> When is the payment for this statement due? ACCOUNT INFORMATION Account Number 4-10700000 Billing Date 30 May Payment Due 8 Jun TRANSACTIONSS DEBITS / CREDITS (-) 9 MAY 3291684271 Fanelli Furs $975.00 12 MAY 594683219 Brooklyn Pets $32.50 15 MAY 767
> What is the sum of all purchases made during the billing cycle? ACCOUNT INFORMATION Account Number 4-10700000 Billing Date 30 May Payment Due 8 Jun TRANSACTIONSS DEBITS / CREDITS (-) 9 MAY 3291684271 Fanelli Furs $975.00 12 MAY 594683219 Brooklyn Pe
> A bank representative studies compound interest, so she can better serve customers. She analyzes what happens when $2,000 earns interest several different ways at a rate of 2% for 3 years. Round to the nearest cent. a. Find the interest if it is compute
> Write an algebraic expression for the interest earned on a $15,000 deposit for t months at 1.75% interest, compounded continuously.
> How might the words in the quote apply to what you learned about limits in this section?
> How many purchases were made during the billing cycle? ACCOUNT INFORMATION Account Number 4-10700000 Billing Date 30 May Payment Due 8 Jun TRANSACTIONSS DEBITS / CREDITS (-) 9 MAY 3291684271 Fanelli Furs $975.00 12 MAY 594683219 Brooklyn Pets $32.50
> Shania bought a $1,455 drum set on an installment plan. The installment agreement included a 15% down payment and 18 monthly payments of $80.78 each. a. How much is the down payment? b. What is the total amount of the monthly payments? c. How much wi
> Examine these three matrices: a. What are the dimensions of Y? b. List the elements of Z with their location symbols. Determine each matrix in parts c–i. c. x + z d. z + x e. x+ y + z f. z- y g. 4z h. 0.5x i. 3(y+x) 2.5 0 9 6. X
> Determine the amount of the payment made on the following credit card. Previous Balance Рауments / Credits New Purchases Late Charge Finance Charge New Balance Minimum Рayment SUMMARY $939.81 $125.25 $3.00 $15.38 $833.44 $25.00
> A credit card statement is modeled by the following spreadsheet. Entries are made in columns A–F. Write the formula to calculate the available credit in cell G2. A B D E F G Late Finance Credit Available Credit Previous New 1 Balan
> Check the new balance entry on the monthly statement below by using the first five entries. If the new balance is incorrect, write the correct amount. Previous Balance Раyments / Credits New Purchases Late Finance New Balance Minimum Рayment SUMMARY
> Examine the summary section of the monthly credit card statement below. Use the first five entries to determine whether the new balance is correct. If it is incorrect, write the correct amount. Previous Balance Рayments I Credits New Purchases Late
> Fill in the missing amounts for a–d. ACCOUNT INFORMATION Туре Revolving Account Number 234 98765 90 Billing Date 16 Aug Payment Due Date 1 Sep TRANSACTIONS DEBITS / CREDITS (-) 6 AUG Meghan's Shop S85.63 7 AUG Раyment $63.00 8 AUG
> Examine this portion of the credit card summary. a. Express the sum of the cycle’s daily balances algebraically. b. Express the monthly periodic rate as an equivalent decimal without the % symbol. Average Daily Balance # Days in
> Zea has a credit limit of $2,000 on her credit card. Each month, she charges about $200 and makes a payment of $125. a. Estimate the number of months that Zea can continue this pattern until she reaches her credit limit. b. Consider that part of the $1
> Sheldon’s monthly periodic rate is 1.95%. What is the APR?
> Faith is taking an $8,100, 2½-year loan with an APR of 3.22%. What is the monthly payment for this loan? Round to the nearest cent.
> The APR on Leslie’s credit card is currently 21.6%. What is the monthly periodic rate?
> How might the quote apply to what you have learned?
> Read the above quote. Interpret the quote in terms of what you have learned about budgets.
> Samuel wants to deposit $4,000 and keep that money in the bank without deposits or withdrawals for 3 years. He compares two different options. Option 1 will pay 1.8% interest, compounded quarterly. Option 2 will pay 1.5% interest, compounded continuously
> Caroline is opening a CD to save for college. She is considering a 3-year CD or a 312-year CD since she starts college around that time. She needs to be able to have the money to make tuition payments on time, and she does not want to have to withdraw mo
> Find the interest earned on a $30,000 deposit for 6 months at 112% interest, compounded continuously.
> Interest rates fluctuate with the economy. In the 1980s, the highest CD interest rate was over 16%. By 2017, the highest CD interest rates were approximately 2%. a. If $1,000 is invested at 16% interest, compounded continuously, for 5 years, what is the
> Whitney deposits $9,000 for 2 years. She compares two different banks. State Bank will pay her 2.1% interest, compounded monthly. Kings Savings will pay her 2.01% interest, compounded continuously. Round to the nearest cent. a. How much interest does St
> Find the interest earned on $50,000 deposited for 6 years at 1% 1 8 interest, compounded continuously. Round to the nearest cent.
> Ed computes the ending balance for a CD he is considering. The principal is $20,000, and the interest rate is 2.39%, compounded continuously for 4 years. He uses the formula B = pert and substitutes directly on his calculator. Look at the keystrokes he e
> The number of days each licensed driver in Marion County uses a commuter rail line annually is normally distributed with mean 66 and standard deviation 21. a. How many days must a driver use a commuter rail line annually to be in the top 5% of rail user
> Examine this geometric sequence of depreciating car values: $20,000 $18,400 $16,928 $15,573.76 If the original price of the car was $20,000, what is the depreciation rate? What will the car be worth after 6 years?
> A car vehicle price history for a certain make and model contains the following list of yearly price values: $21,000 $18,900 $17,010 $15,309 $13,778.1 $12,400.29 The original price of the car was $21,000. It exponentially depreciated to $18,900 after 1
> When sold as a new car in the 1950s, the price of a specific classic car was $13,074. It depreciated in value over the next few years. Then, in 1977, something interesting began to happen, as seen in this table of values. Year ……………………………………………………………………
> The following circle graphs give the proportional breakdowns of two investors’ diversified portfolios. a. Which investor is more aggressive? Explain. b. Which is Jillian’s most aggressive investment? c. Which is Li
> Examine the revenue (black) and expense (blue) functions. Estimate the price at the maximum profit. Explain your reasoning. dollars 800,000 price 50
> Chantel’s car originally sold for $46,600. It depreciates exponentially at a rate of 10.3% per year. Chantel put $12,000 down and pays $800 per month to pay off the balance. After how many years will her car value equal the amount she paid to date for th
> A car originally sold for $25,900. It depreciates exponentially at a rate of 8.2% per year. Nina put $10,000 down and pays $550 per month. After how many years will her car value equal the amount she paid for the car to that point? What will that value b
> Use spreadsheets to compare these situations after 10 years. Total paid and total paid to the principal for a $300,000, 15-year mortgage with a 4.35% APR Total amount paid for a $2,600 monthly rent that has an annual increase of 2% after 10 years
> Use spreadsheets to compare these situations after 5 years. Total paid and total paid to the principal for a $250,000, 20-year mortgage with a 4.75% APR Total amount paid for a $2,100 monthly rent that has an annual increase of 1.5%
> Ahmad sold 125 shares of stock for x dollars that he had purchased for $32.75 per share. a. How much did he originally pay for the shares of stock? b. Write an inequality that represents an amount showing Ahmad made money from the sale of the stocks.
> You get paid on the first day of each month. You cash your check and pay all of your essential expenses. You keep the balance in your “discretionary spending” envelope. A scatter plot shows the number of days that have passed since you were paid and the
> If you own r shares of a stock with an annual dividend of p dollars, express the amount of your quarterly dividends algebraically.
> Name two prices where the revenue is less than the expenses. A dollars 100,000 price 200
> Name two prices where the revenue is greater than the expenses. /
> What are the breakeven prices? A dollars 100,000 price 200
> At what price is the maximum profit reached? A dollars 100,000 price 200
> An electronics store is selling car chargers for cell phones. The expense function is E = -300p + 13,000 and the revenue function is R = -32p2 + 1,200. a. At what price would the maximum revenue be reached? b. What would that maximum revenue be? Round
> List the following investments in order of their liquidity. The most liquid is the easiest to convert to cash, and the least liquid is the toughest to convert to cash. Explain your answer. Stock, bank account, real estate, collectibles
> The student government at State College is selling inexpensive bookcases for dorm rooms to raise money for school activities. The expense function is E = -200p + 10,000 and the revenue function is R = - 18p2 + 800. a. At what price would the maximum rev
> Where-R-U produces global positioning systems (GPS) that can be used in a car. The expense equation is E = -5,000 + $8,300,000, and the revenue equation is R = - 100p2 + 55,500. a. Graph the expense and revenue functions. Circle the breakeven points. b
> Sea Shade produces beach umbrellas. The expense function is E = -19,000q + 6,300,000 and the revenue function is R = -1,000p2 + 155,000p. a. Graph the expense and revenue functions. Label the maximum and minimum values for each axis. Circle the breakev
> iSports is considering producing a line of baseball caps with wireless cell phone earpieces attached. The breakeven point occurs when the price of a cap is $170 or $350. At $170, the expense and revenue values are both $2,600,000. At $350, the expense an
> Boaters at Springs Creek Marina have the option to rent fishing rods. The table below shows the number of boat owners that rented fishing rods last Labor Day weekend. The marina wants to compile some summary statistics for the weekend. a. How many boat
> A manufacturer determines that a product will reach the breakeven point if sold at either $80 or $150. At $80, the expense and revenue values are both $300,000. At $150, the expense and revenue values are both $100,000. On graph paper, graph possible rev
> A jewelry manufacturer has determined the expense equation for necklaces to be E = 1,250q + 800,000, where q is the quantity demanded. At a particular price, the breakeven revenue is $2,600,000. a. What is the quantity demanded at the breakeven point?
> A supplier of school kits has determined that the combined fixed and variable expenses to market and sell G kits is W. a. What expression models the price of a school kit at the breakeven point? b. Suppose a new marketing manager joined the company and
> A manufacturer has determined that the combined fixed and variable expenses for the production and sale of 500,000 items are $10,000,000. What is the price at the breakeven point for this item?
> How might the quote apply to what you have learned?
> How much more does $1,000 earn in 8 years, compounded daily at 3%, than $1,000 over 8 years at 3%, compounded semi-annually, to the nearest cent?
> The Terceira family is planning to send their 3-year-old daughter to college in 15 years. They plan on investing $5,000 each year to help meet her college costs. a. What are the advantages and disadvantages of putting the money in a bank? b. What are
