MATH 105
Problem Set 1
1) The sale price of a spring break vacation package was $139.99, and the travel agent said by booking early, you saved $20. Find the percent decrease in price.
2) Kelly purchased a toaster for $180. She made a down payment of 25% and financed the rest for 12 months with payments of $17.58. Find (a) the down payment and (b) the total installment price of the toaster.
3) A credit card statement showed these transactions during October. October 1 Previous balance $238.30 October 2 Purchases $62.17 October 30 Payment $185.00 The credit card has an interest rate of 6% on the average daily balance. Find the average daily balance, the finance charge for the month, and the new balance on November 1. [Hint: Remember that October has 31 days.]
SET 2 PART
1) For an investment of $100,000 at 9% interest for 8 years, find (a) the simple interest, and (b) the compound interest if interest is calculated once per year.
2) As part of his retirement planning, Mr. Martin purchases an annuity that pays 12.5% compounded quarterly. If the quarterly payment is $9,500, how much will Mr. Martin have saved in 5 years?
3) A house sells for $268,500 and a 40% down payment is made. A 30-year mortgage at 7% was obtained. (i) Find the down payment. (ii) Find the amount of the mortgage. (iii) Find the monthly payment. (iv) Find the total interest paid.
SET 3
1) In a survey of 18 college students, it was found that 11 were taking an English class, 6 were taking a math class, and 4 were taking both English and math. How many students were taking a math class only? How many students were taking an English class only? How many students were taking neither.
2) Use inductive reasoning to conjecture the rule that relates the number you selected to the final answer. Try to prove your conjecture using deductive reasoning.
Select a number:
Multiply by 7:
Subtract 56 from the answer:
Divide by 7:
Subtract the original number:
3) Forty new automobiles were tested for fuel efficiency by the Environmental Protection Agency (in miles per gallon). The individual values and a frequency distribution are displayed below.
24
20
22
32
13
30
23
34
25
18
32
24
35
27
32
24
25
12
35
33
25
32
17
21
25
18
32
24
25
30
20
24
29
22
37
26
13
24
29
20
Class
frequency
8-12
1
13-17
3
18-22
8
23-27
14
28-32
9
33-37
5
Find the median, mode, and midrange of the data set
