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 amount left in your discretionary spending envelope. The explanatory x-variable is the number of days that have passed. The response y-variable is the amount left in your envelope. Is there a positive or negative correlation? Explain.
> 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
> 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.
> 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.
> 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
> Rob deposits $1,000 in a savings account at New York State Bank that pays 1.4% interest, compounded monthly. a. How much is in his account at the end of 1 year, to the nearest cent? b. What is the APY for this account to the nearest hundredth of a perc
> Joanne deposits $4,300 into a 1-year CD at a rate of 2.3%, compounded daily. a. What is her ending balance after the year, to the nearest cent? b. How much interest does she earn, to the nearest cent? c. What is her annual percentage yield to the near
> Samantha deposits $1,500 into the Park Street Bank. The account pays 1.12% annual interest, compounded daily. To the nearest cent, how much is in the account at the end of three non–leap years?
> The summer income of the 3,408 students at Van Buren High School last year was normally distributed with mean $1,751 and standard deviation $421. a. Approximately what percent of the students had incomes between $1,000 and $2,000? Round to the nearest p
> On Olga’s 16th birthday, her uncle invested $2,000 in an account that was locked into a 1.75% interest rate, compounded monthly. How much will Olga have in the account when she turns 18? Round to the nearest cent.
> Jimmy invests $4,000 in an account that pays 2% annual interest, compounded semi-annually. What is his balance, to the nearest cent, at the end of 10 years?
> Examine each scatter plot. Identify each as showing a positive correlation, a negative correlation, or no correlation. a. b. C. d. f.
> Interpret the quote in terms of what you have learned about essential and discretionary expenses.
> Island Bank is advertising a special 1.55% APR for long-term CDs. Manny takes out a 1-year CD for $40,000. The interest is compounded daily. Find the annual percentage yield for Manny’s account to the nearest hundredth of a percent.
> Rodney invests a sum of money, P, into an account that earns interest at a rate of r, compounded yearly. Gerald invests half that amount into an account that pays twice Rodney’s interest rate. Which of the accounts will have the higher ending balance aft
> The table gives the number of songs purchased from My-Tunes at different prices per song. Price per Song ………………………………………. Number of Downloads (in thousands) $0.89 ……………………………………………………………………………………………………. 1,212 $0.79…………………………………………………………………………………………………….
> 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?
