math

The ______ is the actual percentage by which a balance increases in 1 year.

10) APY

96) A U.S. city with a population of 1.8 million reports 37,853 births in one year. How many people are born per day in the city?

104 births per day

43) A restaurant offers pizzas with 2 types of crust, 8 different toppings, and in 5 different sizes. How many different pizzas could be ordered?

80

The ________ in financial formulas is the balance upon which interest is paid.

9) principal

13) You invest $49,400 in an account that pays simple interest of 4% for 5 year(s).

9880

23) Kerry invests $739 in a savings account that earns 3.7% compounded annually. Andy invests $739 in a savings account that earns 6% compounded annually. How much is in each of their accounts after 10 years and after 20 years?

Kerry: $1062.75; $1528.34 Andy: $1323.44; $2370.07

21) A $7000 deposit in an account with an APR of 4.4% compounded continuously for 9 years.

$10,401.09

18) $8430 deposit at an APR of 4% with semiannual compounding for 8 years

$11,572.58

28) Find the savings plan balance after 32 months with an APR of 2% and monthly payments of $393.

$12,906.36

38) Determine how much of the total loan payment applies toward principal and how much applies toward interest for a home mortgage of $136,538 with a fixed APR of 4.4% for 15 years.

$136,538 pays off the principal and $50,219.55 represents interest payments.

22) Suppose you start saving today for a $20,000 down payment that you plan to make on a house in 10 years. Assume that you make no deposits into the account after your initial deposit. The account has quarterly compoundingandanAPRof3%.Howmuchwouldyouneedtodepositnowtoreachyour $20,000goalin 10 years?

$14,832.96

89) An insurance policy sells for $720. Based on past data, an average of 1 in 70 policyholders will file a $10,000 claim, an average of 1 in 100 policyholders will file a $20,000 claim, and an average of 1 in 400 policyholders will file a $50,000 claim. What is the expected value to the company per policy sold?

$252

Assume you have a balance of $3200 on your credit card that you want to pay off. Calculate your monthly payment and total payment under the given conditions. Assume you make no additional charges to the card. 39) The credit card APR is 18% and you want to pay off the balance in 1 year.

$293.38; $3520.51

36) Calculate the monthly payment for a home mortgage of $523,000 with a fixed APR of 3.0% for 15 years.

$3611.74

29) Stephen sets up an IRA with an APR of 4% compounded monthly at age 26. At the end of each month, he deposits $37 in the account. How much will the IRA contain when he reaches 65? Compare that amount to the total amount of deposits made over the time period.

$41,586.06; this is $24,270.06 more than the total amount of the deposits.

30) You intend to create a college fund for your baby. If you can get an APR of 5.0% with monthly compounding and want the fund to have a value of $173,282 after 18 years, how much should you deposit monthly?

$496.22

37) Determine how much of the total loan payment applies toward principal and how much applies toward interest for a student loan of $68,472 at a fixed APR of 8% for 19 years.

$68,472 pays off the principal and $64,929.47 represents interest payments.

19) $5500 deposit at an APR of 4% with monthly compounding for 6 years

$6989.08

35) Calculate the monthly payment for a home mortgage of $99,000 with a fixed APR of 3.6% for 15 years.

$712.61

16) $8000 is invested at an APR of 3.1% for 5 years.

$9319.30

27) Find the savings plan balance after 17 months with an APR of 2% and monthly payments of $551.

$9492.94

88) The table shows the prizes and probabilities of winning (on a single $1 ticket) for a particular state lottery. Find expected value of the winnings for a single lottery ticket.

) -$0.79

86) In a game, you have a 1/45 probability of winning $115 and a 44/45 probability of losing $4. What is your expected winning?

-$1.36

85) In a large casino, the house wins on one of its games with a probability of 51%. All bets in the game are 1 : 1 . If you win, you gain the amount you bet; if you lose, you lose the amount you bet. What is the expected value to the player of a single game?

-.02

50) Of 1485 people who came into a blood bank to give blood, 328 people had high blood pressure. Estimate the probability that the next person who comes in to give blood will have high blood pressure.

.22

59) The table shows the year and political party of a random sample of students from a certain college. Party Independent 14 Democrat 24 Republican 12 Freshman Sophomore Junior Senior 12 28 27 A) Subjective methodC) Relative frequency method 62) Given that P(E) = 1, what must be true about the event E? A) The event E is probable but not certain.C) The event E is certain. B) Theoretical method D) Empirical method B) The event E is impossible.D) The event E is possible but not likely. 27 12 14 14 24 27 Find the empirical probability that a student at the college is an Independent. Round your answer to the neares thousandth.

.345

Suppose one of these people is selected at random. Find the probability that the person was a secretary or that t retired between ages 56 and 60. Round your answer to the nearest thousandth

.444

51) In a poll, respondents were asked whether they were planning to vote in the local election. 255 respondents indicated that they were planning to vote and 235 said that they were not. What is the probability that the next respondent questioned will indicate that they are planning to vote?

.52

54) The probability that Luis will pass his statistics test is 0.39. Find the probability that he will fail his statistics test.

.61

68) A batch consists of 12 defective coils and 88 good ones. Find the probability of getting two good coils when two coils are randomly selected if the first selection is replaced before the second is made.

.7744

87) Suppose you pay $1.00 to roll a fair die with the understanding that you will get back $3.00 (and your wager) for rolling a 2 or a 3, nothing otherwise. What is your expected net winnings?

0

70) Among the contestants in a competition are 47 women and 26 men. If 5 winners are randomly selected, what is the probability that they are all men?

0.00438

71) A sample of 4 different calculators is randomly selected from a group containing 46 that are defective and 23 that have no defects. What is the probability that all four of the calculators selected are defective?

0.1888

92) At an intersection in Normal, Illinois, there were 83 vehicle accidents with 168,212 vehicles passing through the intersection. Determine the accident rate per 1000 vehicles.

0.49 accidents per 1000 vehicles

72) What is the probability that 4 randomly selected people all have different birthdays?

0.9836

57) Find the odds for getting a sum of 7 when two fair dice are rolled.

1 to 5

1) The population of a town

1) Quantitative

20) A bank offers an APR of 1.75% compounded semiannually.

1.76%

47) Two 6-sided dice are rolled. What is the probability that the two numbers obtained differ by more than 2

1/3

77) A fair die is rolled. What is the probability of rolling a 3 or a 6?

1/3

48) Three fair coins are tossed. Find the probability of getting the same thing on all three coins.

1/4

79) When two balanced dice are rolled, there are 36 possible outcomes. What is the probability that the sum of the numbers on the dice is 6 or 9?

1/4

45) On a multiple choice test, each question has 5 possible answers. If you make a random guess on the first question, what is the probability that you are correct?

1/5

69) When a pair of dice is rolled there are 36 different possible outcomes: 1-1, 1-2, ... 6-6. If a pair of dice is rolled 4 times, what is the probability of getting a sum of 5 every time?

1/6561

67) Find the probability of correctly answering the first 4 questions on a multiple choice test if random guesses are made and each question has 3 possible answers.

1/81

49) Two 6-sided dice are rolled. What is the probability that the sum of the two numbers on the dice will be 5?

1/9

98) 9! 4!(9 - 4)!

126

17) $20,000 is invested at an APR of 2% for 2 years.

17) $20,808.00

2) The professions of adults

2) Qualitative

53) What is the probability of not rolling a number larger than 4 with a fair die?

2/3

78) A fair die is rolled. What is the probability of rolling an odd number or a number less than 3?

2/3

80) When two balanced dice are rolled, there are 36 possible outcomes. Find the probability that either doubles are rolled or the sum of the dice is 4.

2/9

91) A country with a population of 115 million has 23,805 traffic fatalities. Find the fatality rate in deaths per 100,000 population.

20.7 deaths per 100,000 people

14) Principal: $810 Rate: 4% Years: 17

217

42) Suppose there are 6 roads connecting town A to town B and 4 roads connecting town B to town C. In how many ways can a person travel from A to C via B?

24

44) A sports shop sells tennis rackets in 4 different weights, 2 types of string, and 3 grip sizes. How many different rackets could they sell?

24

94) The table shows the leading causes of death for one country in a single recent year. Assume a population of 88.5 million.What is the death rate due to heart disease in deaths per 100,000 of the population?

240 deaths per 100,000

11) You invest $14,000 in an account that pays simple interest of 2% for 1 year.

280

73) Two marbles are drawn without replacement from a box with 3 white, 2 green, 2 red, and 1 blue marble. Find the probability that both marbles are white.

3 /28

3) The colors of the houses in a city

3) Qualitative

97) 10!

3,628,800

46) A bag contains 6 red marbles, 3 blue marbles, and 5 green marbles. If a marble is randomly selected from the bag, what is the probability that it is blue?

3/14

52) A bag contains 5 red marbles, 4 blue marbles, and 1 green marble. What is the probability of choosing a marble that is not blue?

3/5

12) You invest $500 in an account that pays simple interest of 3% for 2 year(s).

30

100) How many different 4-letter radio-station call letters can be made if the first letter must be K or W, repeats are allowed, but the call letters cannot end in an O?

33,800

4) The heights of individuals in meters

4) Quantitative

15) Principal: $6865 Rate: 2% Years: 17

413.56

The time series line chart below shows the price of a volatile stock from January to December of the same year. Describe the overall trend in the price during that period.

6) The price rose sharply from January to February, remained fairly constant from February to March, rose sharply from March to May, fell sharply from May to July, remained fairly constant from July to August, then rose steadily from August to December.

93) At an intersection in Normal, Illinois, there were 156 vehicle accidents with 255,590 vehicles passing through the intersection. Determine the accident rate per 10,000 vehicles.

6.1 accidents per 10,000 vehicles

99) How many different 4-letter sequences can be made using the first 9 letters of the alphabet? Assume that repetition of letters is allowed.

6561

58) Find the odds against correctly guessing the answer to a multiple choice question with 7 possible answers.

6:1

7) ________ is interest paid only on the original principal, and not on any interest added at later dates.

7) Simple interest

_______ is interest paid both on the original principal and on all interest that has been added to the original principal.

8) Compound interest

Assume a population of 75.5 million.In a typical city of 500,000 , how many people would you expect to die by accident in a year?

Approximately 225 people

41) Choice 1: 30-year fixed rate at 4.5% with closing costs of $1341 and no points Choice 2: 20-year fixed rate at 4% with closing costs of $1341 and 4 points

Choice 1: $506.69; $1341 Choice 2: $605.98; $5341

33) _________ loans differ from installment loans in that you are not required to pay off your balance in any set period of time.

Credit card

82) Which of the following are examples of independent events?A) Two people in the same family falling ill in the same weekB) Two laughs by different people watching the same movie in a theater C) Two consecutive wins by a football teamD) Two archeological discoveries at different locations, at the same time

D

40) You need a $89,515 loan. Compute the monthly payment for each of the loan options listed below. Assume tha loans are fixed rate.Option 1: a 30 year-loan at an APR of 8%Option 2: a 15-year loan at 7.5%

Option 1: $656.83 Option 2: $829.82

74) A card is drawn at random from a deck of cards. Event A is that the card obtained is a face card and event B is that the card obtained is a spade.

Overlapping

76) A person is selected at random from a group of doctors. Event A is that the person selected is a woman. Event B is that the person selected is a surgeon.

Overlapping

61) Chantal noted that there are two equally likely outcomes when you flip a fair coin and heads is one of those outcomes. She concluded that the probability of getting heads on a flip of a fair coin is 1/2 . Which method did Chantal use? A) Subjective method C) Relative frequency method B) Theoretical method D) Empirical method

b

31) Five years after buying 200 shares of XYZ stock for $45 per share, you sell the stock for $20,000.

Total Return: 122.22% Annual Return: 17.32%

34)TrueorFalse? Ahomeappraisalisoneexampleofaclosingcostwhentakingoutamortgageloan.

True

25) The average annual percentage yield (APY) that would give the same overall growth is the ____

annual return

83) A knight may win a tournament. He may also fail to win the love of his lady. Are these events overlapping? Why or why not? A) Yes, because some ladies love winners B) Yes, because not all ladies love all winners C) No, because all ladies love all winners D) No, because not all ladies love all winners

b

62) Given that P(E) = 1, what must be true about the event E? A) The event E is probable but not certain. C) The event E is certain. B) The event E is impossible. D) The event E is possible but not likely.

c

84) Which pair(s) of events is (are) independent? A and B given the following: P(A) = 0.4, P(B) = 0.3, P(A and B) = 0.16 C and D given the following: P(C) = 0.4, P(D) = 0.3, P(C|D) = 0.4 A) Neither pair B) Both pairs C) C and D D) A and B

c

90) When tossing a fair coin, which of the following events is more unlikely? A: Getting 60% tails in 10 tosses B: Getting 60% tails in 100 tosses C: Getting 60% tails in 1000 tosses A) A C) C B) B D) All are equally likely

c

60) Sean flipped a coin 100 times and got heads 42 times. He concludes that the probability of getting heads on a flip of his coin is 0.42. Which method did Sean use? A) Subjective method B) Theoretical method C) Multiplication method D) Empirical method

d

63) Melissa estimates that the probability that she will marry her boyfriend is 0.6. Which method for determining probabilities did she use? A) Empirical method B) Relative frequency method C) Theoretical method D) Subjective method

d

5) The following table shows the number of female infants born at Hospital X on New Yearʹs Day (Jan. 1). Create a vertical bar graph. No. of Female Year Infants Born Jan 1 1980 21 1981 12 1982 18 1983 30 1984 27 1985 24

n/a

55) When four fair coins are tossed, sixteen equally likely outcomes are possible as shown below: HHHH HHHT HHTH HHTT HTHH HTHT HTTH HTTT THHH THHT THTH THTT TTHH TTHT TTTH TTTT Make a probability distribution for the number of tails when four fair coins are tossed.

n/a

56) When two fair dice are rolled, 36 equally likely outcomes are possible as shown below. (1,1) (1,2) (1,3) (1,4) (1,5) (1,6) (2,1) (2,2) (2,3) (2,4) (2,5) (2,6) (3,1) (3,2) (3,3) (3,4) (3,5) (3,6) (4,1) (4,2) (4,3) (4,4) (4,5) (4,6) (5,1) (5,2) (5,3) (5,4) (5,5) (5,6) (6,1) (6,2) (6,3) (6,4) (6,5) (6,6) Find the probability distribution for the product of the two numbers that appear when two fair dice are rolled

n/a

64) A balanced die is rolled twice.Event A: The sum of the two rolls is 8 Event B: The first roll comes up 3

no

65) 12 jurors are selected from a pool of 20Event A: The first person selected is a woman Event B: The second person selected is a woman

no

75) A card is drawn at random from a deck of cards. Event A is that the card selected is a queen and event B is that the card selected is a two.

non overlapping

32) For any loan, the ______ is the amount of money owed at any particular time.

principal

26) A ______ gives you a share of ownership in a company.

stock

24) The relative change in the investment value is the ______.

total return

66) A balanced die is rolled twice.Event A: Six comes up on the first roll Event B: Six comes up on the second roll

yes