Consumer Math Review Completed

Name Alealaeal MATH 1332 Assignment 2.7 MATH O332/1332 Assignment 3.7 Consumer Math Review Directions: Complete the following. You must show allwork to receive full credit. You may use a calculator for the following questions. Round the final answer to the nearest thousandth if not exact. You may use the conversions on the back page to help with the conversion questions. A page of common conversions can be found at the back of this review. 1. Convert 5 feet into: a. inches. 5x12 =LOim b. yards. yd z 3PE Iyd 2. Convert 8 pounds into ounces. 3. Convert 5tons into pounds. 4. 5gallons of water is how many: a Quarts? b. Cups? 21-2= Y2- 2=/tee 5. Convert 65 meters to: cm soucm b. km 6 a. Convert 7834 mlL to: c. kL b. cL L s.1cl| 7.s392 7. The distance between Lubbock and Levelland is 24 miles. Convert this to kilometers. 24 m |hm Convert this into milliliters of blood. 8. An injured person loses 0.4 pints of blood. .Ypts 2pts 1.05zts 9. Convert the speed 60 mph into: b. Kilometers per second a. Feet per second GUm S280 3/68 c. Meters per second Zho.m 2232 Zos .026 882 =.02hsee 10. Write the ratio in lowest terms: 10 miles to 35 miles. l1. Asupermarket was surveyed to find the prices charged for items in various sizes. Find the best buy on grape jelly (prices shown below) by comparing the price per unit. Grape Jelly /2 |.29 - 0tbper o2 $ 320 Si2e in 32 autest bul 2-58 12. Solve the equation: 24 24 13. Solve the equation:=* 3 4 -3y -28 Size Price 12-0z 18-02 $1.05 $1.73 32-0z $1.84 48-0z $2.88 14. A nurse isasked to administer 200 of Auconazole toa patient. There is a SOlution that provides 25 milligramsmilliorams Stoek per milliliter. How much of the solution should be gven to the paticnt? 2uDmy. 200 25 2Smy 2Sx 2 15. If thesales tax on a $16shirt js S1.40. how much would the sales tax be on a S44 dreSS? 0 3.5S cities that are 16. A map of the U.S. has a distance of 6.5 inches between Memphis and Denver, two is the what map, the on apart inches 4.3 are Dallas actually 1040 miles apart. If St. Louis and actual distance between the two cities? 4. Sin 42 In 210 17. Suppose you are the twentieth person in line to renew your driver's license at the DMV. seconds, 2people are helped. Assuming this rate stays the same, how long (in minutes) will it take you toreach the service counter? 2/652 2?p interest is $36 directly as the rate of interest. If the varies investmeDt an on earned rate js 2 50% 19 The interest find the interestwhen the when the interest rate is 2%, =Is(2. S) 36= k (2) 2. h 36 he8 weight of the object on Earth. A astronaut 19. The weight of an object on Mars varies directlyas the pounds on Mars. How much would a bull weighing 180 pounds on Earth woutd weigh about 68 moose weighing 1900 pounds on the Earth weigh on Mars? m L14do) 17 J80 number of people in the crew 20. The time it takes to re-TOof a house varies inverselly with the will take a crew of five working on it. The owner of the roofing company estimates that it the crew to four workers, decrease workers 12 hours to re-roof a house. If the owner decides to house? how long should it take them to re-roof the bass 21. The weight of a bass yaries jointly as its girth and the square of its length. A prize-winning a would much weighed in at 23 pounds and measured 32 inches long with a 24 inch girth. How bass 29 inches long with an 20 inch girth weigh to the nearest tenth? 25 23 (24)(32 23 :2457bh 24576 24 5 7 6 24576 (0)(4) u 245 We 5.7lbs 22 You have to get a simple interest loan for $2000 at a rate of 5.3%. You have to pay to loan back in 9 months. How much interest will you have to pay? a. b. What is the total amount required to repay the loan? 23. If you can carn 9.3% simple interest in an investment account, what lump sum must be deposited into the account now so that its value willbe $1500 in 8 months? 1412.45 JsW-pPl.093) L0622? 7062 24. You are going to invest $12,000 into an account paying 10% compounded semiannually for 20 years. a) How much money will be in the account after 20 years? ) b) How much of that amount is interest? 2 (2w) 25. You bave $10,000to invest at the age of 21. You plan to leave the money alone until you retire at the age of 62 (41 years). How much (to the nearest cent) will be in the account at the end of the 41 years if it is invested at a rate of 99% compounded: a. Quarterly? b. Monthly? 3?4,9 72.bo c. Weekly? d. Continuously? 26. How much should you invest now at 10% compound monthly if you want that investment to grow to $3000 in five years? P:? P 60 B23.3? 27. You want to purchase a $10,000 car. You are going to finance the car for five years. You can get an annual rate of 6%. a. Calculate your monthly payment. (Note: You should use the sameformula we use the calculate a mortgage payment). (0000/-6by b. How much do you pay in interest over the course of the loan? Total ad |43.33 UrD - 28. You plan to get a loan of $150,000 to purchase a house. What will be your monthly payment if you finance the home for 30 years at 3.75% annual interest? ISUvoo (-0373 29. You plan to get a loan of$150,000 to purchase a house. What willbe your monthly payment if you finance the home for 15 years at 3.25% annual interest? PnT= SoOUo(l32 Ci20325 &u 20 Note that the mortgage amounts in the previoustwo questions are the same. Discuss the advantages and disadvantages of the 30 and 15 year loans in the previous two problems. pymen t soy Smallermonthly Hdvantuge of oSOyr hiyrinterest ate, Largeretto f Visuyvntayes Introt urd ourthe Covrse of Tuan, yr - lowrut shutorm, Sjntest Disalvantye of Py hish gathy payt 31. You want to buy a $120,000 bouse. Youare going to pay 20% down and amortize the rest over the course of 30 years at 4% interest. How mych will you need to get a loan for? b. What is your monthly payment? q6vo) G45. 2 c. How much would pay in interest over the course of the Totul pd d. If your taxes and insurance are $350 dollars a month, what is your total monthly payment including principal, interest, taxes and in_urance? 32, Complete the first two months of the amortization schedule shown for mortgage of $124,750 at 4.5% annual interest for a term of 25 years. Payment Number Amortization Schedule Interest Principal Total Payment (a) 2 (e) Balance of Principal Payment Payment (b) (() (c) (d) (g) (b) )aniePm 24750 045 g)64340-4E6.47 !2z. b)24750G )43.40 -4b7.3)-Z2s.3 d)24750-223 Sy 2444 124247,4 per share. On 33. You buy 200 shares of stock in Company X on February 2, 2017, paying $8.80 had risen to February 2, 2018, you receive a dividend of $1.12 per share and the stock price $11.30 per share. Find the following: a. Your total cost for the stock b. The total dividend amount 200 CI|2) $224 c. The capital gain if you sold the stock Sel|am 200 CI) 30)224o lao hum= 236o-176D 30u d. The total return. Sut 224 The percetage return for one year of ownership of this stock 29 J760 34. You are going to invest in a mutual fund that averagcs 9.5% annual interest and is compounded quarterly. You are going to make quarterly payments of S1000into the fund for the next 20 ycars. a. How much will be the account at the cndof that 20 ycars? 222,27 b. How much of hat is interest? Lnt. 23322 22So PS, 222.2s) averages 35. You are going to do your retirement investing by putting money into a mutual fund that of payments monthly make to going are You 11% annual interest and is compounded monthly. $200 into the fund for the next 35 years. a How much will be the account at the end of that 35 years? b. How muchof that is interest? 1,8sc 27-syzu 9016 SY.27