2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) WebAssign Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) (Homework) Current Score : 2 / 40 Shadi Hanna MAT230, section MAT230.30 MOD3 2017, Spring 2017 Instructor: James Segala Due : Sunday, March 5 2017 11:59 PM EST 1. 1/1 points | Previous AnswersBerrFinMath1 2.1.001. Find the simple interest on the loan. $1900 at 6% for 10 years. $ 1140 Show My Work (Optional) 2. 1/1 points | Previous AnswersBerrFinMath1 2.1.002. Find the simple interest on the loan. (Round your answer to the nearest cent.) $895 at 6.55% for 5 years 6 months. $ 322.42 Show My Work (Optional) 3. 0/1 points | Previous AnswersBerrFinMath1 2.1.003. Find the total amount due for the simple interest loan. $1800 at 7% for 10 years. $ 1260 Show My Work (Optional) 4. -/1 pointsBerrFinMath1 2.1.004. Find the total amount due for the simple interest loan. (Round your answer to the nearest cent.) $6600 at 5.9% for 4 years 9 months. $ Show My Work (Optional) 5. -/1 pointsBerrFinMath1 2.1.005. Find the interest rate on a loan charging $810 simple interest on a principal of $3750 after 6 years. % Show My Work (Optional) 6. -/1 pointsBerrFinMath1 2.1.006. Find the principal of a loan at 4.2% if the simple interest after 5 years 6 months is $1155. $ Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 1/7 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) 7. -/1 pointsBerrFinMath1 2.1.007. Find the term of a loan of $900 at 3.5% if the simple interest is $63. yr Show My Work (Optional) 8. -/1 pointsBerrFinMath1 2.1.008. How much should be invested now at 5.2% simple interest if $9576 is needed in 5 years? $ Show My Work (Optional) 9. -/2 pointsBerrFinMath1 2.2.001. Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.) $16,000 at 5% for 10 years if the interest is compounded in the following ways. (a) annually $ (b) quarterly $ Show My Work (Optional) 10.-/2 pointsBerrFinMath1 2.2.003. Calculate the present value of the compound interest loan. (Round your answers to the nearest cent.) $22,000 after 7 years at 4% if the interest is compounded in the following ways. (a) annually $ (b) quarterly $ Show My Work (Optional) 11.-/1 pointsBerrFinMath1 2.2.005. Find the term of the compound interest loan. (Round your answer to two decimal places.) 4.9% compounded quarterly to obtain $8800 from a principal of $2000. yr Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 2/7 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) 12.-/2 pointsBerrFinMath1 2.2.007. Use the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your answers to two decimal places.) 6% compounded annually. "rule of 72" yr exact answer yr Show My Work (Optional) 13.-/2 pointsBerrFinMath1 2.2.008. Use the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your answers to two decimal places.) 7.3% compounded weekly. "rule of 72" yr exact answer yr Show My Work (Optional) 14.-/1 pointsBerrFinMath1 2.2.009. Find the effective rate of the compound interest rate or investment. (Round your answer to two decimal places.) 25% compounded monthly. [Note: This rate is a typical credit card interest rate, often stated as 2.1% per month.] % Show My Work (Optional) 15.-/1 pointsBerrFinMath1 2.2.010. Find the effective rate of the compound interest rate or investment. (Round your answer to two decimal places.) A $70,000 zerocoupon bond maturing in 8 years and selling now for $45,035. % Show My Work (Optional) 16.-/1 pointsBerrFinMath1 2.2.012. You have just received $145,000 from the estate of a longlost rich uncle. If you invest all your inheritance in a taxfree bond fund earning 6.8% compounded quarterly, how long do you have to wait to become a millionaire? (Round your answer to two decimal places.) yr Show My Work (Optional) 17.-/1 pointsBerrFinMath1 2.2.013. The Second Peoples National Bank offers a longterm certificate of deposit earning 6.33% compounded monthly. Your broker locates a $20,000 zerocoupon bond rated AA by Standard & Poor's for $7965 and maturing in 14 years. Which investment will give the greater rate of return? The Second Peoples National Bank offers a better rate of return. The zerocoupon bond offers a better rate of return. Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 3/7 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) 18.-/1 pointsBerrFinMath1 2.2.014. You have just won $110,000 from a lottery. If you invest all this amount in a taxfree money market fund earning 8% compounded weekly, how long do you have to wait to become a millionaire? (Round your answer to two decimal places.) yr Show My Work (Optional) 19.-/1 pointsBerrFinMath1 2.3.001. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the accumulated amount of the annuity. (Round your answer to the nearest cent.) $2500 annually at 5% for 10 years. $ Show My Work (Optional) 20.-/1 pointsBerrFinMath1 2.3.002. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the accumulated amount of the annuity. (Round your answer to the nearest cent.) $1000 monthly at 4.6% for 20 years. $ Show My Work (Optional) 21.-/1 pointsBerrFinMath1 2.3.003. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the required payment for the sinking fund. (Round your answer to the nearest cent.) Monthly deposits earning 5% to accumulate $6000 after 10 years. $ Show My Work (Optional) 22.-/1 pointsBerrFinMath1 2.3.004. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the required payment for the sinking fund. (Round your answer to the nearest cent.) Yearly deposits earning 12.5% to accumulate $4500 after 12 years. $ Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 4/7 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) 23.-/1 pointsBerrFinMath1 2.3.006. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the amount of time needed for the sinking fund to reach the given accumulated amount. (Round your answer to two decimal places.) $265 monthly at 5.2% to accumulate $25,000. yr Show My Work (Optional) 24.-/2 pointsBerrFinMath1 2.3.007. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. An individual retirement account, or IRA, earns taxdeferred interest and allows the owner to invest up to $5000 each year. Joe and Jill both will make IRA deposits for 30 years (from age 35 to 65) into stock mutual funds yielding 9.5%. Joe deposits $5000 once each year, while Jill has $96.15 (which is 5000/52) withheld from her weekly paycheck and deposited automatically. How much will each have at age 65? (Round your answer to the nearest cent.) Joe $ Jill $ Show My Work (Optional) 25.-/1 pointsBerrFinMath1 2.3.008. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. How much must you invest each month in a mutual fund yielding 14.6% compounded monthly to become a millionaire in 10 years? (Round your answer to the nearest cent.) $ Show My Work (Optional) 26.-/1 pointsBerrFinMath1 2.3.009. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. The Oseola McCarty Scholarship Fund at the University of Southern Mississippi was established by a $160,000 gift from an 87yearold woman who had dropped out of sixth grade and worked for most of her life as a washerwoman. How much would she have had to save each week in a bank account earning 3.7% compounded weekly to have $160,000 after 75 years? (Round your answer to the nearest cent.) $ Show My Work (Optional) 27.-/1 pointsBerrFinMath1 2.3.010. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. You and your new spouse each bring home $1500 each month after taxes and other payroll deductions. By living frugally, you intend to live on just one paycheck and save the other in a mutual fund yielding 7.85% compounded monthly. How long will it take to have enough for a 20% down payment on a $165,000 condo in the city? (Round your answer to two decimal places.) yr Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 5/7 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) 28.-/1 pointsBerrFinMath1 2.4.002. Calculate the present value of the annuity. (Round your answer to the nearest cent.) $1500 monthly at 6.8% for 30 years. $ Show My Work (Optional) 29.-/1 pointsBerrFinMath1 2.4.003. Determine the payment to amortize the debt. (Round your answer to the nearest cent.) Monthly payments on $150,000 at 3% for 25 years. $ Show My Work (Optional) 30.-/1 pointsBerrFinMath1 2.4.004. Determine the payment to amortize the debt. (Round your answer to the nearest cent.) Quarterly payments on $12,500 at 3.3% for 6 years. $ Show My Work (Optional) 31.-/1 pointsBerrFinMath1 2.4.005. Find the unpaid balance on the debt. (Round your answer to the nearest cent.) After 5 years of monthly payments on $160,000 at 5% for 25 years. $ Show My Work (Optional) 32.-/1 pointsBerrFinMath1 2.4.007. The super prize in a contest is $10 million. This prize will be paid out in equal yearly payments over the next 20 years. If the prize money is guaranteed by AAA bonds yielding 3% and is placed into an escrow account when the contest is announced 1 year before the first payment, how much do the contest sponsors have to deposit in the escrow account? (Round your answer to the nearest cent.) $ Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 6/7 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) 33.-/2 pointsBerrFinMath1 2.4.009. Just before his first attempt at bungee jumping, John decides to buy a life insurance policy. His annual income at age 30 is $38,000, so he figures he should get enough insurance to provide his wife and new baby with that amount each year for the next 35 years. If the longterm interest rate is 6.2%, what is the present value of John's future annual earnings? (Round your answer to the nearest cent.) $ Rounding up to the next $50,000, how much life insurance should he buy? (Round your original answer to the nearest $50,000.) $ Show My Work (Optional) 34.-/1 pointsBerrFinMath1 2.4.010. A MasterCard statement shows a balance of $550 at 13.2% compounded monthly. What monthly payment will pay off this debt in 1 year 5 months? (Round your answer to the nearest cent.) $ Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 7/7 2/12/2017 Unit 3 Homework Assignment (3.3, 3.4) Shadi Hanna MAT230, section MAT230.30 MOD3 2017, Spring 2017 Instructor: James Segala WebAssign Unit 3 Homework Assignment (3.3, 3.4) (Homework) Current Score : - / 164 Due : Sunday, March 5 2017 11:59 PM EST 1. -/12 pointsBerrFinMath1 3.3.001. Find the augmented matrix representing the system of equations. x1 + x2 + x3 = 3 x1 + 5x2 + x3 = 5 x1 + 4x2 + 2x3 = 3 Show My Work (Optional) 2. -/12 pointsBerrFinMath1 3.3.002. Find the augmented matrix representing the system of equations. 4x1 + x2 + 4x3 + 2x4 + 4x5 = 2 x1 + x2 + 4x3 + 4x4 + 5x5 = 4 Show My Work (Optional) 3. -/1 pointsBerrFinMath1 3.3.003. Interpret the rowreduced matrix as the solution of a system of equations. (Enter your answers as a commaseparated list. If the system is inconsistent, answer INCONSISTENT. If the system is dependent, parametrize the solutions in terms of the parameter t.) 1 0 0 6 0 1 0 9 0 0 1 7 (x1, x2, x3) = Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391406 1/6 2/12/2017 Unit 3 Homework Assignment (3.3, 3.4) 4. -/12 pointsBerrFinMath1 3.3.006. Use an appropriate row operation or sequence of row operations to find the equivalent rowreduced matrix. 0 1 0 8 1 0 0 6 0 0 1 9 Show My Work (Optional) 5. -/12 pointsBerrFinMath1 3.3.007. Use an appropriate row operation or sequence of row operations to find the equivalent rowreduced matrix. 1 0 1 2 0 1 0 8 0 0 1 5 Show My Work (Optional) 6. -/1 pointsBerrFinMath1 3.3.008. Solve the system of equations by the GaussJordan method. (Enter your answers as a commaseparated list. If the system is inconsistent, answer INCONSISTENT. If the system is dependent, parametrize the solutions in terms of the parameter t.) x1 + x2 + x3 = 3 x1 + 2x2 + 2x3 = 9 x1 + 3x2 + 2x3 = 13 (x1, x2, x3) = Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391406 2/6 2/12/2017 Unit 3 Homework Assignment (3.3, 3.4) 7. -/3 pointsBerrFinMath1 3.3.011. Formulate the situation as a system of linear equations. Be sure to state clearly the meaning of each variable. Solve using the GaussJordan method. State your final answer in terms of the original question. (If the system is inconsistent, answer INCONSISTENT. If the system is dependent, parametrize the solutions in terms of the parameters u and v.) A large commercial farm needs 43,500 pounds of potash, 83,500 pounds of nitrogen, and 31,000 pounds of phosphoric acid. Three brands of fertilizer, GrowRite, MiracleMix, and GreatGreen, are available and contain the amounts of potash, nitrogen, and phosphoric acid per truckload listed in the table. How many truckloads of each brand should be used to provide the required potash, nitrogen, and phosphoric acid? x1 = truckloads of GrowRite x2 = truckloads of MiracleMix x3 = truckloads of GreatGreen (Pounds per GrowRite MiracleMix GreatGreen truckload) Potash 400 600 700 Nitrogen 500 1000 1600 Phosphoric acid 300 400 500 Show My Work (Optional) 8. -/9 pointsBerrFinMath1 3.4.001. Use the given matrix to find the expression. 9 1 2 A = 2 1 3 At 8 6 2 At = Show My Work (Optional) 9. -/9 pointsBerrFinMath1 3.4.002. Use the given matrix to find the expression. 9 8 7 C = 1 8 8 3C 9 3 3 3C = Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391406 3/6 2/12/2017 Unit 3 Homework Assignment (3.3, 3.4) 10.-/9 pointsBerrFinMath1 3.4.003. Use the given matrix to find the expression. 5 1 7 B = 2 9 9 B 1 8 8 B = Show My Work (Optional) 11.-/9 pointsBerrFinMath1 3.4.004. Use the given matrices to find the expression. 1 4 6 1 7 9 A = 2 8 5 C = 1 5 6 A + C 3 8 7 2 6 1 A + C = Show My Work (Optional) 12.-/9 pointsBerrFinMath1 3.4.005. Use the given matrices to find the expression. 9 8 7 2 7 3 A = 5 8 4 C = 8 5 6 C (A + I) 2 7 7 8 4 7 C (A + I) = Show My Work (Optional) 13.-/4 pointsBerrFinMath1 3.4.006. Find the matrix product. 2 (2 1) 3 Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391406 4/6 2/12/2017 Unit 3 Homework Assignment (3.3, 3.4) 14.-/2 pointsBerrFinMath1 3.4.007. Find the matrix product. 3 2 4 3 5 2 3 3 4 Show My Work (Optional) 15.-/4 pointsBerrFinMath1 3.4.008. Find the matrix product. 1 1 2 3 3 2 3 3 3 3 2 3 Show My Work (Optional) 16.-/15 pointsBerrFinMath1 3.4.009. Rewrite the system of linear equations as a matrix equation AX = B. x1 + 5x2 + 2x3 = 2 x1 + x2 + x3 = 2 2x1 + 3x2 + 4x3 = 3 = Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391406 5/6 2/12/2017 Unit 3 Homework Assignment (3.3, 3.4) 17.-/17 pointsBerrFinMath1 3.4.010. Rewrite the system of linear equations as a matrix equation AX = B. 5x1 + 2x2 4x3 + x4 + 3x5 = 5 x1 + x2 5x3 + x4 + 2x5 = 3 = Show My Work (Optional) 18.-/24 pointsBerrFinMath1 3.4.011. Formulate the situation in matrix form. Be sure to indicate the meaning of your rows and columns. Find the requested quantities using the appropriate matrix arithmetic. A car dealer sells sedans, station wagons, vans, and pickup trucks at sales lots in Oakdale and Roanoke. The "dealer markup" is the difference between the sticker price and the dealer invoice price. The dealer invoice prices at both locations are the same: $14,000 per sedan, $21,000 per wagon, $22,000 per van, and $25,000 per pickup. The sticker prices at the Oakdale lot are $17,900 per sedan, $24,900 per wagon, $25,900 per van, and $28,900 per pickup, while at the Roanoke lot the sticker prices are $18,900 per sedan, $25,900 per wagon, $26,900 per van, and $29,900 per pickup. Represent these prices as a dealer invoice matrix D and a sticker price matrix S. Use these matrices to find the dealer markup matrix M for these vehicles at these sales lots. (Let row 1 represent the dealer in Oakdale and row 2 represent the dealer in Roanoke.) sedan station wagon van pickup truck D = S = M = Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391406 6/6 2/12/2017 Unit 6 Homework Assignment (5.3, 5.4) WebAssign Unit 6 Homework Assignment (5.3, 5.4) (Homework) Current Score : - / 22 Shadi Hanna MAT230, section MAT230.30 MOD3 2017, Spring 2017 Instructor: James Segala Due : Sunday, March 5 2017 11:59 PM EST 1. -/2 pointsBerrFinMath1 5.3.001. Find the sample space for a committee of two chosen from Alice (A), Bill (B), Carol (C), and David (D). {A, B, C, D} {(A, B), (A, C), (A, D), (B, C), (B, D), (C, D)} {(A, B), (A, D), (B, C), (C, D)} {(A, B), (C, D)} Find the sample space if both sexes must be represented. {(A, B), (A, C), (A, D), (B, C), (B, D), (C, D)} {(A, B), (C, D)} {(A, B), (A, D), (B, C), (C, D)} {A, B, C, D} Show My Work (Optional) 2. -/2 pointsBerrFinMath1 5.3.003. Two dice are rolled. E is the event that the sum is even, F is the event of rolling at least one six, and G is the event that the sum is eight. List the outcomes for the following events: (a) E F {(2, 2), (4, 4), (6, 6)} {(2, 6), (4, 6), (6, 6)} {(6, 2), (6, 4), (6, 6), (2, 6), (4, 6)} (b) Ec G {(2, 6), (4, 6), (6, 6)} {(6, 2), (6, 4), (6, 6), (2, 6), (4, 6)} {(2, 2), (4, 4), (6, 6)} Show My Work (Optional) 3. -/2 pointsBerrFinMath1 5.3.004. If a committee of 4 is to be chosen at random from a class of 11 students, what is the probability of any particular committee being selected? (Enter your answer as a fraction.) What if the committee is to consist of a president, a vice president, a treasurer, and a secretary? (Enter your answer as a fraction.) Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391409 1/4 2/12/2017 Unit 6 Homework Assignment (5.3, 5.4) 4. -/1 pointsBerrFinMath1 5.3.005. In a town, 32% of the citizens contributed to the Republicans, 46% contributed to the Democrats, and 13% contributed to both. What percentage contributed to neither party? % Show My Work (Optional) 5. -/2 pointsBerrFinMath1 5.3.007. A box contains 4 red and 7 green marbles. You reach in and remove 3 marbles all at once. (a) Find the probability that these 3 marbles are all red. (Enter your answer as a fraction.) (b) Find the probability that these 3 marbles are all of the same color. (Enter your answer as a fraction.) Show My Work (Optional) 6. -/1 pointsBerrFinMath1 5.3.008. An elevator has 5 people and makes 7 stops. What is the probability that no two people get off on the same floor? (Enter your answer as a fraction.) Show My Work (Optional) 7. -/1 pointsBerrFinMath1 5.3.009. The U.S. Senate consists of 100 members, 2 from each state. A committee of 6 senators is formed. What is the probability that it contains at least one senator from your state? (Round your answer to two decimal places.) Show My Work (Optional) 8. -/2 pointsBerrFinMath1 5.4.001. Use the given values to find the following. (Enter your answers as fractions.) P(A) = 0.6, P(B) = 0.4, P(A B) = 0.2 (a) P(A given B) (b) P(B given A) Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391409 2/4 2/12/2017 Unit 6 Homework Assignment (5.3, 5.4) 9. -/2 pointsBerrFinMath1 5.4.002. Use the given value to find the following. (Enter your answers as fractions.) P(A) = 0.3, P(B) = 0.4, P(A B) = 0.5 (a) P(A given B) (b) P(B given A) Show My Work (Optional) 10.-/1 pointsBerrFinMath1 5.4.003. A box contains 3 white, 2 red, and 3 black marbles. One marble is chosen at random, and it is not black. Find the probability that it is white. (Enter your answer as a fraction.) Show My Work (Optional) 11.-/1 pointsBerrFinMath1 5.4.006. Suppose that 80% of drivers are "careful" and 20% are "reckless." Suppose further that a careful driver has a 0.2 probability of being in an accident in a given year, while for a reckless driver the probability is 0.3. What is the probability that a randomly selected driver will have an accident within a year? (Enter your answer to two decimal places.) Show My Work (Optional) 12.-/1 pointsBerrFinMath1 5.4.008. Two students are registered for the same class and attend independently of each other, student A 80% of the time and student B 70% of the time. The teacher remembers that on a given day at least one of them is in class. What is the probability that student A was in class that day? (Round your answer to three decimal places.) Show My Work (Optional) 13.-/1 pointsBerrFinMath1 5.4.007. For the experiment of tossing a coin twice, find whether events A: heads on the first toss B: different results on the two tosses are independent or dependent. independent dependent Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391409 3/4 2/12/2017 Unit 6 Homework Assignment (5.3, 5.4) 14.-/3 pointsBerrFinMath1 5.4.009. Five dice are rolled. (a) Find the probability of getting all sixes. (Enter your answer as a fraction.) (b) Find the probability of getting all the same outcomes. (Enter your answer as a fraction.) (c) Find the probability of getting all different outcomes. (Enter your answer as a fraction.) Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391409 4/4 2/12/2017 Unit 6 Quiz (5.3, 5.4) Shadi Hanna MAT230, section MAT230.30 MOD3 2017, Spring 2017 Instructor: James Segala WebAssign Unit 6 Quiz (5.3, 5.4) (Quiz) Current Score : - / 18 Due : Sunday, February 19 2017 11:59 PM EST 1. -/2 pointsBerrFinMath1 5.3.002. A box contains three marbles, one red (R), one green (G), and one blue (B). A first marble is chosen, its color is recorded, and then it is replaced in the box and a second marble is chosen, and its color is recorded. Find the sample space. {(R, G), (R, B), (G, R), (G, B), (B, R), (B, G)} {(R, R), (R, G), (R, B), (G, R), (G, G), (G, B), (B, R), (B, G), (B, B)} {R, G, B} {(R, B), (B, G), (G, R)} Find the sample space if the first marble is not replaced before the second is chosen. {(R, R), (R, G), (R, B), (G, R), (G, G), (G, B), (B, R), (B, G), (B, B)} {(R, G), (R, B), (G, R), (G, B), (B, R), (B, G)} {R, G, B} {(R, B), (B, G), (G, R)} Show My Work (Optional) 2. -/2 pointsBerrFinMath1 5.3.004. If a committee of 3 is to be chosen at random from a class of 11 students, what is the probability of any particular committee being selected? (Enter your answer as a fraction.) What if the committee is to consist of a president, a vice president, and a treasurer? (Enter your answer as a fraction.) Show My Work (Optional) 3. -/1 pointsBerrFinMath1 5.3.005. In a town, 36% of the citizens contributed to the Republicans, 42% contributed to the Democrats, and 15% contributed to both. What percentage contributed to neither party? % Show My Work (Optional) 4. -/1 pointsBerrFinMath1 5.3.006. A college survey claimed that 64% of students took English composition, 46% took calculus, 15% took both, and 8% took neither. Show that these figures cannot be correct. The real percentage that took both classes is 5, not 15% as claimed by the survey. The real percentage that took both classes is 8, not 15% as claimed by the survey. The real percentage that took neither class is 15, not 8% as claimed by the survey. The real percentage that took neither class is 5, not 8% as claimed by the survey. Show My Work (Optional) 5. -/2 pointsBerrFinMath1 5.3.007. A box contains 6 red and 7 green marbles. You reach in and remove 3 marbles all at once. (a) Find the probability that these 3 marbles are all red. (Enter your answer as a fraction.) (b) Find the probability that these 3 marbles are all of the same color. (Enter your answer as a fraction.) Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391402 1/2 2/12/2017 Unit 6 Quiz (5.3, 5.4) 6. -/1 pointsBerrFinMath1 5.3.008. An elevator has 6 people and makes 9 stops. What is the probability that no two people get off on the same floor? (Enter your answer as a fraction.) Show My Work (Optional) 7. -/1 pointsBerrFinMath1 5.3.009. The U.S. Senate consists of 100 members, 2 from each state. A committee of 8 senators is formed. What is the probability that it contains at least one senator from your state? (Round your answer to two decimal places.) Show My Work (Optional) 8. -/2 pointsBerrFinMath1 5.4.001. Use the given values to find the following. (Enter your answers as fractions.) P(A) = 0.5, P(B) = 0.5, P(A B) = 0.1 (a) P(A given B) (b) P(B given A) Show My Work (Optional) 9. -/1 pointsBerrFinMath1 5.4.003. A box contains 4 white, 2 red, and 5 black marbles. One marble is chosen at random, and it is not black. Find the probability that it is white. (Enter your answer as a fraction.) Show My Work (Optional) 10.-/1 pointsBerrFinMath1 5.4.005. You will take either a basketweaving course or a philosophy course, depending on what your advisor decides. You estimate that the probability of getting an A in basket weaving is 0.85, while in philosophy it is 0.60. However, the chances of your advisor choosing the basketweaving course is only 30%, while there is an 70% chance that he will put you in the philosophy course. What is the probability that you end up with an A? (Enter your answer to three decimal places.) Show My Work (Optional) 11.-/1 pointsBerrFinMath1 5.4.006. Suppose that 60% of drivers are "careful" and 40% are "reckless." Suppose further that a careful driver has a 0.3 probability of being in an accident in a given year, while for a reckless driver the probability is 0.5. What is the probability that a randomly selected driver will have an accident within a year? (Enter your answer to two decimal places.) Show My Work (Optional) 12.-/3 pointsBerrFinMath1 5.4.009. Four dice are rolled. (a) Find the probability of getting all sixes. (Enter your answer as a fraction.) (b) Find the probability of getting all the same outcomes. (Enter your answer as a fraction.) (c) Find the probability of getting all different outcomes. (Enter your answer as a fraction.) Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391402 2/2 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) WebAssign Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) (Homework) Current Score : 2 / 40 Shadi Hanna MAT230, section MAT230.30 MOD3 2017, Spring 2017 Instructor: James Segala Due : Sunday, March 5 2017 11:59 PM EST 1. 1/1 points | Previous AnswersBerrFinMath1 2.1.001. Find the simple interest on the loan. $1900 at 6% for 10 years. $ 1140 Show My Work (Optional) 2. 1/1 points | Previous AnswersBerrFinMath1 2.1.002. Find the simple interest on the loan. (Round your answer to the nearest cent.) $895 at 6.55% for 5 years 6 months. $ 322.42 Show My Work (Optional) 3. 0/1 points | Previous AnswersBerrFinMath1 2.1.003. Find the total amount due for the simple interest loan. $1800 at 7% for 10 years. $ 1260 Show My Work (Optional) 4. -/1 pointsBerrFinMath1 2.1.004. Find the total amount due for the simple interest loan. (Round your answer to the nearest cent.) $6600 at 5.9% for 4 years 9 months. $ Show My Work (Optional) 5. -/1 pointsBerrFinMath1 2.1.005. Find the interest rate on a loan charging $810 simple interest on a principal of $3750 after 6 years. % Show My Work (Optional) 6. -/1 pointsBerrFinMath1 2.1.006. Find the principal of a loan at 4.2% if the simple interest after 5 years 6 months is $1155. $ Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 1/7 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) 7. -/1 pointsBerrFinMath1 2.1.007. Find the term of a loan of $900 at 3.5% if the simple interest is $63. yr Show My Work (Optional) 8. -/1 pointsBerrFinMath1 2.1.008. How much should be invested now at 5.2% simple interest if $9576 is needed in 5 years? $ Show My Work (Optional) 9. -/2 pointsBerrFinMath1 2.2.001. Determine the amount due on the compound interest loan. (Round your answers to the nearest cent.) $16,000 at 5% for 10 years if the interest is compounded in the following ways. (a) annually $ (b) quarterly $ Show My Work (Optional) 10.-/2 pointsBerrFinMath1 2.2.003. Calculate the present value of the compound interest loan. (Round your answers to the nearest cent.) $22,000 after 7 years at 4% if the interest is compounded in the following ways. (a) annually $ (b) quarterly $ Show My Work (Optional) 11.-/1 pointsBerrFinMath1 2.2.005. Find the term of the compound interest loan. (Round your answer to two decimal places.) 4.9% compounded quarterly to obtain $8800 from a principal of $2000. yr Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 2/7 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) 12.-/2 pointsBerrFinMath1 2.2.007. Use the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your answers to two decimal places.) 6% compounded annually. "rule of 72" yr exact answer yr Show My Work (Optional) 13.-/2 pointsBerrFinMath1 2.2.008. Use the "rule of 72" to estimate the doubling time (in years) for the interest rate, and then calculate it exactly. (Round your answers to two decimal places.) 7.3% compounded weekly. "rule of 72" yr exact answer yr Show My Work (Optional) 14.-/1 pointsBerrFinMath1 2.2.009. Find the effective rate of the compound interest rate or investment. (Round your answer to two decimal places.) 25% compounded monthly. [Note: This rate is a typical credit card interest rate, often stated as 2.1% per month.] % Show My Work (Optional) 15.-/1 pointsBerrFinMath1 2.2.010. Find the effective rate of the compound interest rate or investment. (Round your answer to two decimal places.) A $70,000 zerocoupon bond maturing in 8 years and selling now for $45,035. % Show My Work (Optional) 16.-/1 pointsBerrFinMath1 2.2.012. You have just received $145,000 from the estate of a longlost rich uncle. If you invest all your inheritance in a taxfree bond fund earning 6.8% compounded quarterly, how long do you have to wait to become a millionaire? (Round your answer to two decimal places.) yr Show My Work (Optional) 17.-/1 pointsBerrFinMath1 2.2.013. The Second Peoples National Bank offers a longterm certificate of deposit earning 6.33% compounded monthly. Your broker locates a $20,000 zerocoupon bond rated AA by Standard & Poor's for $7965 and maturing in 14 years. Which investment will give the greater rate of return? The Second Peoples National Bank offers a better rate of return. The zerocoupon bond offers a better rate of return. Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 3/7 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) 18.-/1 pointsBerrFinMath1 2.2.014. You have just won $110,000 from a lottery. If you invest all this amount in a taxfree money market fund earning 8% compounded weekly, how long do you have to wait to become a millionaire? (Round your answer to two decimal places.) yr Show My Work (Optional) 19.-/1 pointsBerrFinMath1 2.3.001. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the accumulated amount of the annuity. (Round your answer to the nearest cent.) $2500 annually at 5% for 10 years. $ Show My Work (Optional) 20.-/1 pointsBerrFinMath1 2.3.002. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the accumulated amount of the annuity. (Round your answer to the nearest cent.) $1000 monthly at 4.6% for 20 years. $ Show My Work (Optional) 21.-/1 pointsBerrFinMath1 2.3.003. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the required payment for the sinking fund. (Round your answer to the nearest cent.) Monthly deposits earning 5% to accumulate $6000 after 10 years. $ Show My Work (Optional) 22.-/1 pointsBerrFinMath1 2.3.004. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the required payment for the sinking fund. (Round your answer to the nearest cent.) Yearly deposits earning 12.5% to accumulate $4500 after 12 years. $ Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 4/7 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) 23.-/1 pointsBerrFinMath1 2.3.006. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. Find the amount of time needed for the sinking fund to reach the given accumulated amount. (Round your answer to two decimal places.) $265 monthly at 5.2% to accumulate $25,000. yr Show My Work (Optional) 24.-/2 pointsBerrFinMath1 2.3.007. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. An individual retirement account, or IRA, earns taxdeferred interest and allows the owner to invest up to $5000 each year. Joe and Jill both will make IRA deposits for 30 years (from age 35 to 65) into stock mutual funds yielding 9.5%. Joe deposits $5000 once each year, while Jill has $96.15 (which is 5000/52) withheld from her weekly paycheck and deposited automatically. How much will each have at age 65? (Round your answer to the nearest cent.) Joe $ Jill $ Show My Work (Optional) 25.-/1 pointsBerrFinMath1 2.3.008. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. How much must you invest each month in a mutual fund yielding 14.6% compounded monthly to become a millionaire in 10 years? (Round your answer to the nearest cent.) $ Show My Work (Optional) 26.-/1 pointsBerrFinMath1 2.3.009. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. The Oseola McCarty Scholarship Fund at the University of Southern Mississippi was established by a $160,000 gift from an 87yearold woman who had dropped out of sixth grade and worked for most of her life as a washerwoman. How much would she have had to save each week in a bank account earning 3.7% compounded weekly to have $160,000 after 75 years? (Round your answer to the nearest cent.) $ Show My Work (Optional) 27.-/1 pointsBerrFinMath1 2.3.010. In the following ordinary annuity, the interest is compounded with each payment, and the payment is made at the end of the compounding period. You and your new spouse each bring home $1500 each month after taxes and other payroll deductions. By living frugally, you intend to live on just one paycheck and save the other in a mutual fund yielding 7.85% compounded monthly. How long will it take to have enough for a 20% down payment on a $165,000 condo in the city? (Round your answer to two decimal places.) yr Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 5/7 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) 28.-/1 pointsBerrFinMath1 2.4.002. Calculate the present value of the annuity. (Round your answer to the nearest cent.) $1500 monthly at 6.8% for 30 years. $ Show My Work (Optional) 29.-/1 pointsBerrFinMath1 2.4.003. Determine the payment to amortize the debt. (Round your answer to the nearest cent.) Monthly payments on $150,000 at 3% for 25 years. $ Show My Work (Optional) 30.-/1 pointsBerrFinMath1 2.4.004. Determine the payment to amortize the debt. (Round your answer to the nearest cent.) Quarterly payments on $12,500 at 3.3% for 6 years. $ Show My Work (Optional) 31.-/1 pointsBerrFinMath1 2.4.005. Find the unpaid balance on the debt. (Round your answer to the nearest cent.) After 5 years of monthly payments on $160,000 at 5% for 25 years. $ Show My Work (Optional) 32.-/1 pointsBerrFinMath1 2.4.007. The super prize in a contest is $10 million. This prize will be paid out in equal yearly payments over the next 20 years. If the prize money is guaranteed by AAA bonds yielding 3% and is placed into an escrow account when the contest is announced 1 year before the first payment, how much do the contest sponsors have to deposit in the escrow account? (Round your answer to the nearest cent.) $ Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 6/7 2/12/2017 Unit 1 Homework Assignment (2.1, 2.2, 2.3, 2.4) 33.-/2 pointsBerrFinMath1 2.4.009. Just before his first attempt at bungee jumping, John decides to buy a life insurance policy. His annual income at age 30 is $38,000, so he figures he should get enough insurance to provide his wife and new baby with that amount each year for the next 35 years. If the longterm interest rate is 6.2%, what is the present value of John's future annual earnings? (Round your answer to the nearest cent.) $ Rounding up to the next $50,000, how much life insurance should he buy? (Round your original answer to the nearest $50,000.) $ Show My Work (Optional) 34.-/1 pointsBerrFinMath1 2.4.010. A MasterCard statement shows a balance of $550 at 13.2% compounded monthly. What monthly payment will pay off this debt in 1 year 5 months? (Round your answer to the nearest cent.) $ Show My Work (Optional) https://www.webassign.net/web/Student/AssignmentResponses/last?dep=15391404 7/7