# Wk 2 Summative Assessment: Everyday Arithmetic Exam

An investment of $1,000 was made for 3 years at 4% interest compounded annually. How much was the principal? A) $1,000 B) 3 C) 4% D) $123.87

$1,000

If A2 is changed from to 5 to 8, what value will appear in C3 if C3 contains the formula =A2*2? A) 8 B) 10 C) 16 D) 20

16

Based on the following grouped bar chart, in which year did the largest gap between men and women exist in the U.S. workforce? A) 1970 B) 2010 C) 2000 D) 1980

1970

Consider the graph of the line y=2x+5. In order to draw this line, a person can start by drawing a point at (0, 5). Then to find another point on the line, the person would go to the right unit and up how many units? A) 0 B) 5 C) 2 D) 1

2

The curve in the following graph has form y=b exponent x. What is B? A) 4 B) 1 C) 1/2 D) 2

2

What is the value of cell C2? A) 2 B) 50 C) 64 D) 24

24

According to the following charts, what is the percentage of unemployed people who have private health insurance? Health insurance status for employed vs. unemployed people A) 29.3% B) 19.7% C) 75.2% D) 18.2%

29.3%

Choose the correct equivalent of 2 exponent 5. A) 2+2+2+2+2 B) 5x5 C) 2x2x2x2x2 D) 2x5

2x2x2x2x2

To what value will the formula =A1*B1 in C3 evaluate? A) 15 B) 28 C) 14 D) 35

35

Charlie wants to invest $10,000 for 3 years in an interest-bearing account with a 4% annual interest rate compounded quarterly. How many times per year will Charlie's money be compounded? A) 4 B) 12 C) 365 D) 2

4

A gardener plants a tree and figures out that the increase in the tree's mass every year in kilograms is described by the equation y=40x1.5 exponent X. What was the starting mass of the tree? A) 1.5 kg B) 1 kg C) 40 kg D) 0 kg

40 kg

Cell D1 has a value of 450. If cells A1, B1, and C1 each contain the formula =$D$1, the value of each cell respectively is which of the following? A) 450, 450, 450 B) 450, 550, 650 C) 550, 650, 750 D) 450, 460, 470

450, 450, 450

Given a function described as the graph below, what is y when x is 3? A) 6 B) 10 C) 3 D) 1

6

Given a function described as equation y=3x+4, what is y when x is 1, 2, and 3? A) 7, 8, 9 B) 3, 6, 9 C) 7, 10, 13 D) 3, 7, 11

7, 10, 13

Cells C1, C2, and C3 contain the values 2, 4, 6. If cells C1, C2, and C3 were selected, and autofill used to fill C4, C5, and C6, what would be the autofilled values? A) 8 ,10,12 B) 7, 8, 9 C) 6, 6, 6 D) 8, 8, 8

8 ,10,12

Given this equation for converting temperature from Celsius (c) to Fahrenheit (f): f=(9/5)c+32 What is F when C is 30 A) 95 B) 86 C) 77 D) 104

86

What are M and B in the linear equation, using the common meanings of M and B? 1+4z+6-x=y A) M is 3, B is 7 B) M is 7, B is 3 C) M is 4, B is 6 D) M is 6, B is 4

M is 3, B is 7

The following figure shows total costs for three gym memberships. Which orders the memberships from the cheapest to the costliest initial (startup) cost? A) Platinum (cheapest), Standard, Platinum B) Monthly (cheapest), Standard, Platinum C) Standard (cheapest), Premium, Monthly D) Standard (cheapest), Monthly, Platinum

Monthly (cheapest), Standard, Platinum

An airline charges nothing for a suitcase up to 20 lb. For every pound over 20, the airline charges $2 per pound (only for pounds over 20). How much does the airline charge for a 35-lb. suitcase? A) $70 B) $30 C) $2 D) $20

$30

An investment of $1,000 was made for 3 years at 4% interest compounded annually. What is the future value of the loan after 3 years? A) $1,081.60 B) $124.87 C) $1,043.27 D) $1,124.87

$1,124.87

A company offers 4.5% matching on a retirement annuity plan. An employee with a $48,000 annual salary decides to contribute 6% monthly. What will be the company's monthly contribution to the annuity? A) $420 B) $240 C) $2,160 D) $180

$180

The following figure shows estimated medical costs versus what a user actually pays for three health insurance plans with different deductibles. If a user's estimated medical costs are $100, what is the order of plans from cheapest to costliest regarding what the user pays? A) $500 deductible plan (cheapest), $2,000 deductible plan, $1,000 deductible plan B) $2,000 deductible plan (cheapest), $1,000 deductible plan, $500 deductible plan C) $500 deductible plan (cheapest), $1,000 deductible plan, $2,000 deductible plan D) $1,000 deductible plan (cheapest), $2,000 deductible plan, $500 deductible plan

$2,000 deductible plan (cheapest), $1,000 deductible plan, $500 deductible plan

To draw a graph for the line y=10x+90, a person can draw one point at (0, 90) and another point with which coordinates? A) (100, 1000) B) (1, 90) C) (5, 100) D) (10, 190)

(10, 190)

The following figure shows two cell phone plans, one that comes with a phone and one without a phone. For what number of months is the plan without a phone cheaper? A) Month 16 B) 0 months to 15 months C) 100 to 900 months D) 17 months and higher

0 months to 15 months

According to the following chart, what is the approximate total amount of time university students in the United States spend sleeping, grooming, eating and drinking, and traveling? A) 1/4 of the total time B) 1/8 of the total time C) 3/4 of the total time D) 1/2 of the total time

1/2 of the total time

The following graph shows typical height for a girl at each age from 2 to 20 years. At what age do girls generally stop their rapid height growth? A) 6 B) 14 C) 20 D) 10

14

What formula should be entered in A3 to compute A1 divided by C3? A) =A1/C3 B) =A1*C3 C) =A3/A1 D) =C3/A1

=A1/C3

The formula in cell E1 is =A$1-8. The formula is copy-pasted to cell F1, so F1's formula will be which of the following? A) =B$1-9 B) =B$1-8 C) =A$2-9 D) =A$2-8

=B$1-8

The formula in cell A2 is =B1+10. The formula is copy-pasted to cell A3, so A3's formula will be which of the following? A) =B2+10 B) =A4+10 C) =B1+21 D) =A1+10

=B2+10

Which is the correct formula that sums C1 through C4 in cell B5? A) =SUM(C1:C4) B) =SUM(A1,A4) C) =SUM(A1:A4) D) =SUM(C1,C4)

=SUM(C1:C4)

Several investments with the same principal and annual interest rate are compared, but they each have different compounding periods. Which compounding period option would earn the lowest total interest in the first year? A) Quarterly B) Monthly C) Semiannually D) Annually

Annually

An annuity has a present value of $200,000 and a 6% rate of return. Estimating from the following graph, if an investor expects a future value of $0 in about 20 years, what is the most the investor can withdraw monthly? A) Approximately $1,400 B) Approximately $2,200 C) Approximately $1,700 D) Approximately $1,200

Approximately $1,400

Based on the following vertical bar chart, in which of the following months were approximately 10% of professional European soccer players born? A) January B) April C) December D) October

April

An annuity has a 5% rate of return and an investor will make monthly contributions. Estimating from the following graph, if the investor contributes $200 monthly, what is the future value of the annuity in 25 years? A) Less than $50,000 B) Between $200,000 and $250,000 C) Between $100,000 and $150,000 D) Between $50,000 and $100,000

Between $100,000 and $150,000

A student loan of $25,000 has a 5% interest rate compounded daily. The following table includes repayment information for 5-, 10-, and 15-year plans. If monthly payments of $200 are made, how many years are needed to pay off the loan? A) More than 15 years B) Less than 5 years C) Between 5 and 10 years D) Between 10 and 15 years

Between 10 and 15 years

An annuity has a 5% rate of return and an investor will make monthly contributions. Estimating from the following graph, what monthly contribution is needed for the annuity to have a future value of at least $200,000 in 30 years? A) Less than $50 monthly B) Between $100 and $200 monthly C) Between $50 and $100 monthly D) More than $200 monthly

More than $200 monthly

According to the following graph, indicate when renting or buying is cheaper, and the breakeven point. A) Renting cheaper for under 4 months, buying for over 4 months, breakeven at 4 months. B) Renting cheaper for under 5 months, buying for over 5 months, breakeven at 5 months. C) Renting cheaper for over 5 months, buying for under 5 months, breakeven at 5 months. D) Renting cheaper for over 4 months, buying for under 4 months, breakeven at 4 months.

Renting cheaper for under 5 months, buying for over 5 months, breakeven at 5 months.

Below is a graph showing a company's annual profits. What do the lines connecting the points mean? A) The lines are just a visual convenience. B) The lines represent monthly earnings. C) The lines represent weekly earnings. D) The lines represent daily earnings.

The lines are just a visual convenience.

The following figure shows costs for a current home mortgage versus a refinanced home mortgage. Refinancing has initial costs but results in a lower monthly payment. Which best describes the lines? A) The blue line is for refinancing, which starts costlier but eventually is cheaper. B) The orange line is for refinancing, which starts costlier but eventually is cheaper. C) The orange line is for refinancing, which starts cheaper but eventually is costlier. D) The blue line is for refinancing, which starts cheaper but eventually is costlier.

The orange line is for refinancing, which starts costlier but eventually is cheaper.

What are M and B in the following linear equation, using the common meanings of M and B? y=3x+5 A) The slope M is 3. The y-intercept B is 5. B) The y-intercept M is 5. The slope B is 2. C) The slope M is 5. The y-intercept B is 2. D) The y-intercept M is 3. The slope B is 5.

The slope M is 3. The y-intercept B is 5.

Based on the following line graph, how did Google's stock price perform between September 2015 and December 2015? A) The stock price decreased. B) The stock price did not change. C) The stock price increased. D) There is not enough information to determine the stock price performance.

The stock price increased.

The following figure shows estimated medical costs versus what a user actually pays for three health insurance plans with different deductibles. For which plan does the user pay the least for estimated medical costs of $4,000? A) The user pays the least for the $500 deductible plan. B) The user pays the least for the $1,000 deductible plan. C) The user pays the same for all three plans. D) The user pays the least for the $2,000 deductible plan.

The user pays the least for the $1,000 deductible plan.

A homeowner is trying to reduce the insect population in the yard and needs to decide between setting up an insect zapper that zaps 15% of the insects every day or introducing dragonflies that will eat 100 insects every day. If the homeowner is having a backyard party in 4 days, which method will result in the fewest insects at the party? A) The dragonflies B) Unable to tell C) The zapper D) Both methods will result in the same number of insects.

The zapper

Toni requires a personal loan for $3,000 with monthly payments. Toni considers several loan offers with the same APR and needs to decide whether monthly payments for 1 year is better than 2 years. Why might Toni choose a shorter time period to pay off a loan? A) APR is more for a 2-year loan than for a 1-year loan. B) Less interest is charged over a 2-year period than over a 1-year period. C) Total interest paid for a 2-year loan is more than for a 1-year loan. D) Monthly payments will be more for a 2-year loan than for a 1-year loan.

Total interest paid for a 2-year loan is more than for a 1-year loan.

A 1-year loan with a 5% APR will have the most interest charged with what type of compounding? A) quarterly B) annual C) daily D) monthly

daily

In the expression 10 exponent 2, the 10 is which of the following? A) base B) linear C) variable D) exponent

linear

A parking lot charges $2 per hour for the first 4 hours, then $3 per hour after that. Which equation(s) describes the total cost as a function of the hours ? A) y=3x+8 B) y=2x for x of 4 or less/ y=2x+3 for x of 5 or more C) y=2x for x of 4 or less/ y=8+3(x-4) for x of 5 or more D) y=2x+12

y=2x for x of 4 or less/ y=8+3(x-4) for x of 5 or more

What is the form of an exponential function? A) y=X exponent B B) Y=bx C) Y=b exponent X below b D) y=b exponent X

y=b exponent X