math of money winter final

Two consumers borrowed $10,000 for five years. Bob has a credit score of 650 and has an interest rate of 11.5%, while Tyree has a credit score of 710 and has an interest rate of 8.0%. What will be the total difference between what the two men pay?

$1,030.20

How much more would $1,000 earn in 5 years in an account compounded continuously than an account compounded quarterly if the interest rate on both accounts is 3.7%?

$1.02

Tammy sold a diamond ring for $10,000. She placed half of the money into a CD with a 3.9% interest rate compounded daily. She placed the other half into a CD with the same interest rate which is compounded monthly. What is the difference in the interest earned on each amount after 4 years?

$1.43

Use the summary section of the monthly credit card statement below to calculate the finance charge.

$10.06

Bob and Kathy want to save a total of $500,000 for retirement. How much should they deposit monthly into an account that pays 3.9% interest, compounded monthly, to meet their goal in 24 years?

$1051.17

The stock bar chart shows the market action for Dell during the week of May 4. What was the day's close on May 8?

$11

Loretta deposits $350 every quarter into a savings account that earns 4.5% interest compounded quarterly. What is the balance after 7 years?

$11444.27

Marcia wants to get a new car stereo. She researches the cost with a variety of local car stereo installers and places her findings in a stem-and-leaf plot.

$115

Jackson deposited $5,000 at 3.8% interest, compounded continuously, when he was 18 years old. How much will be in the account when he is 40 vears old if he made no other deposits or withdrawals?

$11535.60

A new company manufactures tennis rackets. The fixed cxpenses are 578.40 and the variable expenses are $14 per racket produced. What is the expense of producing 3,500 rackets?

$127490

This information was posted at the end of the trading day on June 12. What was the closing price of CAT Ltd on June 11?

$135.76

A demand function for step stools manufactured by U step is q= -720p + 20500. What is the revenue if the price per step stool is $18?

$135720

Ron and Annie have $1,239.45 in their checking account. During the week Annie goes to an ATM and withdraws $80. The following week Ron deposits his paycheck of $689.65. Annie then pays bills online in the amounts of: $212.80, $55, $49.76, and $110.35. What is the current balance in their checking account?

$1421.19

Jerry buys a $2,700 motorcycle on a deferred payment plan. There is no down payment and no interest for eighteen months. Jerry must make a minimum payment of $75 a month. To avoid a retroactive APR of 21%, he must pay the balance in full before the 18 months has passed. If he pays $75 each month, how much should he pay the last month to avoid the interest charges?

$1425

Loretta was on vacation when her wallet was stolen. By the time she reported her 3 credit cards missing, the criminal had charged over $10,000 on each card. How much of this will Loretta have to pay?

$150

Latoya has $113.94 in her checking account. During the weck she goes to an ATM and withdraws $40. She is charged a usage fee of $2.50. The following week she deposits her paycheck of $189.73. She writes two checks, one for $22.50 and the other for $70.18. What is the current balance in her checking account?

$168.49

Nina's car exponentially depreciates at a rate of 7% per year. If Nina bought the car when it was 6-years old for $12,000, what was the original price of the car?

$17,040

Amy opened a savings account with $1,750 she received for graduation. The account pays 4.3% simple interest. What is the value after 6 months?

$1787.63

Jackson and Kate Jones do not pay their credit card in full each month, so they incur finance charges. On their last credit card statement, the average daily balance is $875 and the monthly periodic rate is 2.25%. What should be the finance charge on the statement?

$19.69

Jeanette buys decals for her car from every state she visits. She made a list of the prices: $0 99, $5.10, 51.59, $1:99, $2.99, $0.80, $199, $1.99, $2,99, $1.59, $0,99, $3.49, $0.80. Find the mean

$2.10

Jamal is going to borrow $14,000 from his credit union to buy a used car. The APR is 7.0% and the length of the loan is 4 years. How much will Jamal pay in interest?

$2091.87

Mrs. Thomas owns 1,500 shares of a corporation that pays a quarterly dividend of $0.36 a share. How much in dividends did she receive last year?

$2160

Aaron just bought a used car from his cousin for $3,500. When he changes the title and gets license plates, he is required to pay sales tax on the purchase price of the car. If the sales tax rate is 6 10%, how much sales tax does he pay?

$218.75

Carmen is 12 years old and she is saving for a car. She wants to have $5,000 by the time she is 16 years old. She opens a savings account with an APR of 3.9% compounded weekly. How much should she deposit into her account each week to meet her goal?

$22.22

Examine the graph below. At what price is the maximum profit?

$24

A company makes flower pots. The flower pots have an expense equation of E= 2.75g + $24,582. What is the fixed cost in the expense function?

$24582

Dr. Drake is thinking about retirement and decides to sail around the world once he retires. He buys a sailboat for $125,000. He borrows the money at an APR of 7.5% for five years. What will his total finance charge be?

$25,284.61

Rick carries a balance on his credit card each month. Today is the first day of the new, 28-day billing cycle. The current balance is $2,360 and the APR is 21%. Rick is buying a friend an expensive gift that costs $1,500 that he plans to put on his credit card. This will be his only purchase this month. How much in finance charges can he save by making the purchase on the last day of the billing cycle versus the first day of the billing cycle?

$25.31

Marge wants to take a trip to Japan in 8 years. She knows she will need about $4,200. How much should she deposit into an account now that pays 3.5% interest compounded daily, in order to meet her goal? Round to the nearest dollar.

$3174

McKenzie buys 250 shares of stock for $12 a share and pays a 2% commission. She sells the stock 3 years later for $18 a share and pays a 1% commission. What are her net proceeds?

$3195

Tonya wants to place an advertisement in a local newspaper to sell her car. This piecewise function shows the cost of the advertisement given that x equals the number of lines. If the advertisement she wants to place will be 7 lines, how much will the paper charge her?

$32.50

Tyrone opens an account at the local bank by depositing $50 of his birthday money. He continues to deposit 550 each month for 5 years. If the account pays 3 % interest compounded monthly, how much is in the account after 5 years?

$3252.74

Edward wants to have $50,000 in 10 years for college. What single deposit would he need to make now into an account that pays 4.3% interest, compounded daily, to meet his goal?

$32526.28

Tamika opened a money market account that has a 4.25% annual interest rate, compounded annually. She deposits $1750 into the account each year. How much interest will the account earn after 15 years?

$33949.40

Sunni bought a $500 corporate bond. The bond pays 4.8% interest per year. If Sunni holds the bond for 15 years, how much will Sunni receive in interest?

$360

What is the interest earned on $20000 for five years, at an interest rate of 3 3/5% compounded continuously?

$3944.45

Sonja and Jake just got married. They received $4,500 in gift money and deposited it into a savings account that pays 2.85% simple interest. How much will they have in savings after 3 years?

$4884.75

Malika has a credit card balance of $321. Her available credit on this card is $4,679. What is her credit line on this card?

$5,000

What is the 4-day SMA for the following closing prices: $56, $61, $50, $57, $60, $58, and $57?

$56, $57, $56.25, $57

Sahel has $20,000 property damage insurance and 55,000 comprehensive and collision insurance with a $500 deductible. One evening he slides on a patch of ice and hits a parked car, causing $4,500 worth of damage. The accident causes $1,750 of damage to his own car. How much will the insurance pay to fix both cars?

$5750

Trey is taking out a loan for $85,000. It is a 20-year loan with an APR of 5.85% What will his monthly payment be?

$601.63

Eleanor purchased $2,568 worth of stock and paid her broker a 0.5% fee. She sold the stock when the stock price increased to $3,298, using an online broker that charged $7 per trade. What are her net proceeds?

$710.16

According to the credit calendar below, what is the average daily balance?

$716.17

Cherie pays her car insurance monthly. Her annual premium is $984. Each month she is charged « $2) convenience fee. If her annual premium is divided equally into twelve month payments, how much is her monthly insurance payment?

$84

Maria works for an online auto trader. She makes a piecewise function to show the cost to place an online advertisement. What is the cusp of the function?

(6,39)

On July 3, the ABC Corporation closed at $43.67. This was a $0.47 increase from the close the day before. What percent change is this?

+1.09%

Conrad Savings Bank has a $50 overdraft fee. On Friday, Mr. McGuire deposited his paycheck of $468.92 for a total account balance of $712.34. The next morning, his wife wrote a check for $1,267.45 for a new refrigerator and stove. The check cleared the bank by the end of the day. What is the current balance in the McGuire's account?

-$605.11

In the ordered pairs, the first coordinate is the price, p, and the second is the quantity, (250, 5,000), (100, 8,500), (450, 2,000), (300, 5,000), (200, 4,750). When the points are plotted in a scatterplot, what is the correlation coefficient?

-0.93

What is the monthly periodic rate on a loan with an APR of 18.6%?

1.55%

Mis. Beluga is driving on a snow covered road with a drag factor of 0.2. She brakes suddenly for a deer. The tires leave a yaw mark with a 52-foot chord and a middle ornate of 6 feet. What is the minimum speed she could have been going?

13.3 mph

The Jacksons are taking a trip to Florida. Mr. Jackson knows that it is about 945 miles to their destination in Florida from their home in Ohio. He knows the average speed along his route will be 70 miles per hour. How long is the drive?

13.5 hours

Marsha used a graphing calculator to graph an expense and a revenue function for her family's printing business. The graph looked like the one below. What are the approximate breakeven points prices?

15 and 47

A certain corporation listed their sales in 100s as 1700. What was their actual volume in thousands?

170

At the beginning of the week, Miguel's odometer reads 87,845. At the end of the week, his odometer reads 88,033. How many miles did Miguel travel that week?

188 miles

Jim wants to buy a computer. The total cost is $1,180. If he can save $60 a month, how long will it take for him to save up for the computer?

20 months

AAA Dance Shoes makes dancing shoes with leather soles. The shoes cost $29 to manufacturer. The fixed cost for the product line is $45,000. The company has determined their demand function to be g=-200p + 30,000, where p is the price for each pair of shoes. Write the expense and revenue functions in terms of price.

200p^2+870000

Katelyn owns 140 shares of a stock that sells for $39 a share before a 3-for-2 split is announced. After the split, how many shares of the stock will Katelyn own and what will they be worth?

210 shares; $26 each

A company that produces lawn chairs uses market surveys and linear regression to develop a demand function based on the wholesale price. The demand function is q=-110p + 7,500. At a price of $45, how many lawn chairs are demanded?

2550

Maxine works at an amusement park. She recorded the number of ice cream cones sold each day, along with the high temperature in Fahrenheit degrees. Using her data, she wrote a linear regression equation of y = 9x - 487. If the temperature, or x, is 85°F, how many ice cream cones could Maxine expect to sell?

278

What does the ticker P&G 3M@, 77.85 A 0.13 mean?

3 million shares of P&G stock at $77.85 per share. This price was up $0.13 from previous closing

Nathan wants to buy a car that costs $25.920. He has $3,000 as a down payment, and his payments will be $450 for 6 years. Through research he discovers that the value of the car will depreciate to a value of zero in 12 years. After how long will the expenses of the car be equal to the value of the car?

3 years

Don buys a car valued at $25,000. When the car was new, it sold for $32,000. If the car depreciates exponentially at a rate of 7% per year, about how old is the car?

3.4 years

Henry deposits $2,000 into an account that earns 4.2% interest compounded daily. What is the in annual percentage yield (APY) to the nearest hundredth of a percent?

4.29%

Jess and Oscar have $200,000 to invest in a savings account that pays 2.875% interest compounded quarterly. How many years will it take for the account to earn $30,000 in interest? Round your answer to the nearest tenth year

4.9 years

Craig is an accident reconstructionist. He arrives at an accident where there are 4 skid marks of different lengths. He finds their measures to be 85 ft, 92 ft, 88 ft, and 90 ft. It is an asphalt road with a drag factor of 10.8 Because he does not know the efficiency of the driver's brakes, he assumes a brake efficiency of 80%. What is the minimum speed the driver could have been going?

41.3 mph

Mantago wants to borrow $10,000 to buy a used car. He examined his budget and decides that he can afford a payment of $200 a month. If his bank offers him an APR of 7.5%, how long should he borrow the money so he can afford his monthly payment?

5 years

Steve and Elizabeth decide to become partners in a children's cooking school. They need $80,000 for the franchise. Steve and Elizabeth invest in a 3:4 ratio, respectively. About what percent of the business is owned by Elizabeth?

57%

Miriam and Dave want to borrow $25,000 to put an addition on their house. They went over their budget, and they can afford to pay $450 a month. If the bank offers them a home improvement loan with an APR of 6.3%, What should the length of the loan be so they can afford the monthly payments?

6 years

A stock that was selling for $48 a Shafe split 2-for-1. Before the split, the company had 3.4 million shares of stock outstanding. What is the post-split number of shares outstanding?

6.8 million

Tony shops around for a new muffler for his car and gets these estimates; $145, $195, $150, $135, $169, $210, and $160. What are the four quartiles?

Q1=$135, Q2=$160, Q3=$195, Q4=$210

What does the variable n represent in the formula below?

amount compounded (number of times in a year)

What is it called when the expenses and the revenue are equal, so there is no profit or loss?

break even

Malcolm wants to make a deposit into an account that earns interest. He wants to be able to access the money on a limited basis. What type of account should he NOT consider?

certificate of deposit

Isabella wants to purchase a new refrigerator. When she applies for an installment loan at the appliance store, her loan application is turned down. What consumer law says that a lender must give her the reason, in writing, that she was denied the loan?

fair credit reporting act

Yoshi carries a balance on her credit card each month. In May, she decides she wants to use her card to buy a new dishwasher. In which part of the billing cycle should she make her purchase in order to keep her finance charges to the minimum?

last day of billing cycle

What kind of data does a scatterplot use?

numerical

Does the graph below have a positive, negative, or no correlation?

positive

Toby's Tiny Toys have an expense equation of E = 12.45q + 53,900. Toby's sell their toys for $16.50 a piece, and their revenue equation is R = 16.5q. How many tiny toys do they have to sell to reach their breakeven point?

q=13309

The graph shows the supply and demand for a widget. What happens if the price is set at $25?

supply exceeds demand

How does a credit card company calculate finance charges on a credit card?

take the average daily balance multiplied by monthly periodic rate

What will happen if Leroy sets the price at $3.99?

the demand will exceed the supply

The information released on a particular corporation at closing shows a change of 2.35. What does this mean?

the price went down $2.35

A candlesick chart is a type of stock bar chart. The body is displayed in different colors to indicate the action for that day. What does it mean if the real body is red?

the stock closed lower than the opening price

McKenzie found the correlation coefficient on a set of data to be -0.20. Which term best describes the correlation?

weak negative

Which is the regression equation for a scatter plot with these points rounded to the neartest tenth: (4, 35), (6.5, 92), (2, 10), (5, 50), (6, 85), (10, 110)?

y = 13.4x-11.1

Catalina's mother recorded her height each year. The table below shows her height, in inches. Find equation of regression line.

y=3.5x+18.5