MAT104 Algebra with Applications Exam 2 Chapters 7,8 and 9 (Exam) with 28 Questions

1.) From a survey of 100 college students, a marketing research company found that 65 students owned iphones, 30 owned cars,and 20 owned both cars and iphones.

A How many students owned either a car or an iphone (but not both)?

B How many students do not owned either a car or an iphone?

2.) A Certain lock has three tumblers, and each tumbler can assume four positions. How many different possibilities are there?

3.) Determine the comparable interest rate for a $50,000 loan when the quoted information is 10.1% + 0.5 pt + $ 400. (Round your answer to two decimal places.)

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4.) Compare the future amounts of A you would have if the money were invested at simple interest and if it were invested with annual compounding. $2,000 at 10% for 30 years

A Calculate the future amount if the money were invested at simple interest

B Calculate the future amount if the money were invested with annual compounding. (Round your answer to the nearest cent)

5.) Find the amount of interest and the monthly payment for loan. Purchase a living set for $ 3,800 at 12% add-on interest for 4 years (Round your monthly payment to nearest cent)

7.)How many Permutations are there of the following word MATHEMATICS?

Many states offer personalized license plate. California for example, allows personalized plates with seven spaces for numerals or letters, or one of the following four symbols

What is the total number of license plates possible this counting scheme? (Assume that each available space is occupied by a numeral, letter, symbol, or space. Give the answer in scientific notation. Round the first number to 2 decimal places.

9.) Use Venn diagrams to check the validity of the argument.

All bachelors are handsome

Some bachelors do not drink lemonade

Therefore some handsome man do not drink lemonade

No students are enthusiastic

You are enthusiastic

Therefor you are not a student

No professors are ignorant

All ignorant people are vain

Therefor no professors are vain

10.) If the principal P=$700 the rate R= 6 1/2% and time T= 1 Year, find the following:

What is the amount of interest?

What is the future value?

11.) Convert the ff credit card rate to the APR. Oregon 1 3/4% per month.

12.) How many skirt-blouse outfits can a woman wear if she has four skirt and 6 blouse?

13.) A car dealer will sell you a used car for $8,162 with $162 down payments of $205.33 per month for 48 months. What is a simple interest rate? (Round each answer to the nearest tenth)

14.) Determine the down payment and the amount to be financed for each home described below

A $340,340 10% down

the down payment is?

the amount to be financed is?

B $990,000 20% down

the down payment is

The amount to be financed is?

15.) In a recent survey of 100 women, the following information was gathered .

47 use shampoo A

45 uses shampoo B

39 uses shampoo C

15 uses shampoo A and B

21 uses shampoo A and C

10 uses shampoo B and C

8 uses all 3

Use the figure to answer the question in the problem.

How many are using shampoos A and C. but not B (Region IV)?

17.) Suppose that you want to purchase a home for $450,000 with a 30 year mortgage at 6% interest. Suppose that you can put 40% down. Assume that the monthly cost to finance $1,000 is $6.00. What are the monthly payments?

18.) In how many ways can a chairperson be selected from a committee of 26 senators?

19.) Suppose that you want to purchase a home for $450,000 with a 30 year mortgage at 5% interest. Suppose that you can put 30% down. Assume that the monthly cost to finance $1,000 is $6.00. What is the total amount of interest paid on the 30 year loan?

20.) Evaluate the expression

21.) Evaluate the ff expression 90P1=?

22.) Answer the question and tell whether it illustrates inductive or deductive reasoning.

A what is the 50th consecutive even number?

B Is it illustrates inductive or deductive reasoning?

23.) If you purchase an item for $1,296 at an interest rate of 9.8% and you finance it for 1 year how much is the amount of add-on interest? Round your answer to the nearest dollar

24.) If $440 is invested in a account that earns annual interest of 5.5% compounded semi annually what will the account balance be after 13 years? Round your answer to the nearest cent.

25.) A student is asked to answer 7 out of 14 questions on an exam.

A classify the problem as a permutation, a combination or neither.

B In how many ways can she select the questions to be answered?

26.) Suppose you see a car with an advertise price of $29,800 at $607.20 per month for 5 years. What is the amount of interest paid?

27.) Suppose you have a $1,000 charge on a credit card charging 1.5% monthly interest using the adjusted balance method. The minimum payment due in May is $50. How much will you save on interest charges in june by paying $100 instead?

28.) Find the amount of compound interest earned in an account that opens with $23,000 earns 3.5% interest compound daily and is held for 20 years. Assume 365 days in a year. Round your answers to the nearest cent.