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8/15/2021 Week 7: TEST 3 REVIEW - MATH 115, section D04, Summer 1 2021 | WebAssign https://www.webassign.net/web/Student/Assignment-Responses/last?dep=26921982 1/15 1. [–/0.26 Points] AUFEXC4 11.1.004. 0/100 Submissions Used MY NOTES ASK YOUR TEACHER DETAILS Calculate the simple interest earned. Round to the nearest cent. P = $2700, r = 9%, t = 1 year $ Calculate the simple interest earned. Round to the nearest cent. P = $2700, r = 5.3%, t = 4 months $ Use the formula A = P(1 + rt) to calculate the maturity value of the simple interest loan. (Round your answer to two decimal places.) P = $12,000, r = 8.5%, t = 8 months $ Calculate the maturity value of a simple interest, one-year loan of $5600. The interest rate is 10.2%. (Round your answer to two decimal places.) $ How much money should be invested in an account that earns 9% interest, compounded monthly, in order to have $14,000 in 5 years? (Round your answer to two decimal places.) $ 8/15/2021 Week 7: TEST 3 REVIEW - MATH 115, section D04, Summer 1 2021 | WebAssign https://www.webassign.net/web/Student/Assignment-Responses/last?dep=26921982 10/15 You borrow $6000 to help pay your college expenses. You agree to repay the loan at the end of 7 years at 8% interest, compounded quarterly. (Round your answers to two decimal places.) (a) What is the maturity value of the loan? $ (b) How much interest are you paying on the loan? $ Suppose your salary in 2016 is $50,000. Assuming an annual inflation rate of 7%, what salary do you need to earn in 2023 in order to have the same purchasing power? (Round your answer to two decimal places.) $ Use a calculator for this exercise. Chuong Ngo borrows $2400 from a bank that advertises a 7% simple interest rate and repays the loan in three equal monthly payments. Estimate the APR. Round to the nearest tenth of a percent. Use the Approximate Annual Percentage Rate Formula. % Use a calculator for this exercise. Arrowood's Camera Store advertises a Canon Power Shot 3.34-megapixel camera for $475, including taxes. If you finance the purchase of this camera for 1 year at an annual percentage rate of 7.8%, find the monthly payment. (Round your answer to the nearest cent.) $ Jeffery Wei received a 7-year non-subsidized student loan of $33,000 at an annual interest rate of 5.4%. What are Jeffery's monthly loan payments for this loan after he graduates in 4 years? (Round your answer to the nearest cent.) $ The Blackburn Computer Company has declared an annual dividend of $0.70 per share. The stock is trading at $50 per share. Find the dividend yield. (Round your answer to two decimal places.) % Use the given partial stock table. Round dollar amounts to the nearest cent when necessary. Consider the following for Boeing (BA). (a) What is the difference between the highest and lowest prices paid for this stock during the last 52 weeks? $ (b) Suppose that you own 650 shares of this stock. What dividend do you receive this year? $ (c) How many shares of this stock were sold during the trading day? shares (d) Did the price of a share of this stock increase or decrease during the day shown in the table? increase decrease (e) What was the price of a share of this stock at the start of the trading day? $ Use the given partial stock table. Round dollar amounts to the nearest cent when necessary. Michele Desjardins bought 900 shares of Apple (APPL) at the 52-week low and sold the shares at the 52-week high shown in the table. (a) Ignoring dividends, what was Michele's profit or loss on the sale of the stock? $ This is a.---Select--- (b) If her broker charges 2.2% of the total sale price, what was the broker's commission? $ A bond has a $12,000 face value, a 6-year maturity, and a 3.05% coupon. Find the total of the interest payments paid to the bondholder. $ A mutual fund has total assets of $45,000,000 and total liabilities of $6,000,000. There are 1,400,000 shares outstanding. Find the net asset value of the mutual fund. (Round your answer to the nearest cent.) $ A mutual fund has total assets of $11 million and total liabilities of $5 million. There are 2 million shares outstanding. You invest $3000 in this fund. How many shares are you purchasing? shares You buy a $262,000 home with a down payment of 25%. Find the amount of the down payment and the mortgage amount. down payment$ mortgage$ The purchase price of a condominium is $120,000. A down payment of 26% is made. The bank charges $715 in fees plus 3 1 2 points. Find the total of the down payment and the closing costs. (Round your answer to the nearest cent.) $ Marcel Thiessen purchased a home for $208,600 and obtained a 15-year, fixed-rate mortgage at 8% after paying a down payment of 10%. Of the first month's mortgage payment, how much is interest and how much is applied to the principal? (Round your answer to the nearest cent.) interest$ applied to the principal $ You purchase a cottage for $190,000. You obtain a 20-year, fixed rate mortgage loan at 12.5% after paying a down payment of 30%. Of the second month's mortgage payment, how much is interest and how much is applied to the principal? (Round your answers to the nearest cent.) interest$ applied to the principal$ Suppose you obtain a 20-year mortgage loan of $199,000 at an annual interest rate of 7.9%. The annual property tax bill is $975 and the annual fire insurance premium is $490. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent.) $ You have saved $20,000 for a down payment on a house. Your bank requires a minimum down payment of 17%. What is the maximum price you can offer for a home in order to have enough money for the down payment? (Round your answer to two decimal places.) $ Find the mean, the median, and the mode(s), if any, for the given data. Round noninteger means to the nearest tenth. (If there is more than one mode, enter your answer as a comma-separated list. If an answer does not exist, enter DNE.) 4, 4, 4, 4, 4, 4, 4, 4, 4, 4, 4, 4 mean median mode(s) Additional Materials Tech Guide: Excel Tech Guide: TI-83/84 Tech Guide: TI-Nspire Find the mean, the median, and the mode(s), if any, for the given data. Round noninteger means to the nearest tenth. (If there is more than one mode, enter your answer as a comma-separated list. If an answer does not exist, enter DNE.) −8.5, −2.6, 4.5, 4.5, 6.4, 8.1, 9.5 mean median mode(s) Additional Materials Tech Guide: Excel Tech Guide: TI-83/84 Tech Guide: TI-Nspire After six biology tests, Ruben has a mean score of 79. What score does Ruben need on the next test to raise his average (mean) to 81? The mean of 12 numbers is 49. Removing one of the numbers causes the mean to decrease to 43. What number was removed? During a 12-hour period, the temperature in a city dropped from a high of 68°F to a low of −23°F. What was the range of the temperatures during this period? °F Find the range, the standard deviation, and the variance for the given samples. Round non-integer results to the nearest tenth. 70, 51, 62, 100, 77, 74, 49, 80, 53 range standard deviation variance Additional Materials Tech Guide: Excel Tech Guide: TI-83/84 Tech Guide: TI-Nspire A customer at a specialty coffee shop observed the amount of time, in minutes, that each of 20 customers spent waiting to receive an order. The results are recorded in the table below. Time (min) to receive order 3.3 4.1 3.9 2.4 4.8 5.2 4.5 3.4 3.4 6.3 3.6 4.8 4.5 5.0 2.7 3.5 2.2 3.8 5.4 2.8 Find the mean and sample standard deviation of these data. Round to the nearest hundredth. mean sample standard deviation Additional Materials Tech Guide: Excel Tech Guide: TI-83/84 Tech Guide: TI-Nspire A survey of 10 fast-food restaurants noted the number of calories in a mid-sized hamburger. The results are given in the table below. Calories in a mid-sized hamburger 513508502499495507459478462514 Find the mean and sample standard deviation of these data. Round to the nearest hundredth. mean sample standard deviation Additional Materials Tech Guide: Excel Tech Guide: TI-83/84 Tech Guide: TI-Nspire A survey of 16 energy drinks noted the caffeine concentration of each drink in milligrams per ounce. The results are given in the table below. Concentration of caffeine (mg/oz) 9.2 8.9 7.6 7.8 7.7 8.7 9.0 9.0 9.1 9.0 8.3 9.1 9.0 8.2 8.8 9.0 Find the mean and sample standard deviation of these data. Round to the nearest hundredth. mean sample standard deviation Additional Materials Tech Guide: Excel Tech Guide: TI-83/84 Tech Guide: TI-Nspire Consider the following. 17, 24, 6, 12, 3, 23 Compute the population standard deviation of the numbers. (Round your answer to two decimal place.) (a) Double each of your original numbers and compute the standard deviation of this new population. (Round your answer to two decimal place.) (b) Use the results of part (a) and inductive reasoning to state what happens to the standard deviation of a population when each data item is multiplied by a positive constant k. The standard deviation is k. The standard deviation is divided by k. The standard deviation is multiplied by k. The standard deviation is multiplied by -k. The standard deviation is unchanged. Round each z-score to the nearest hundredth. A data set has a mean of x = 4094 and a standard deviation of 102. Find the z-score for each of the following. (a)x = 3840 (b)x = 4200 (c)x = 4300 (d)x = 4030 On a reading test, Shaylen's score of 455 was higher than the scores of 4268 of the 7238 students who took the test. Find the percentile, rounded to the nearest percent, for Shaylen's score. th percentile A recent survey by the U.S. Census Bureau determined that the median monthly housing rent was $632. If the first quartile for monthly