MATH 105 Final Exam, spring 2020
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Get Help Now!· This exam is worth 12 points toward your final grade in the course.
· You may take as long as you like on this exam, but you must complete and submit to your LEO classroom assignment folder by 11:59 pm on the Sunday of the last day of class.
· The online text will be a valuable resource as you work on these problems.
· Please submit your work in the LEO assignment folder in one of these ways:
o typed using an equation editor into a new blank document and saved as a single file
-
- neatly handwritten, scanned, and saved as a single file. Be sure that the pages are right-side-up and in order.
*** Please note that ONE single file is required. ***
· You MUST show all of your work to receive full credit. If you have questions about showing work, please ask.
· The Final Exam is open book and open notes. You may refer to your textbook, notes, and online classroom materials, but you may not consult with anyone in person or online. You may not use any online service to solve any of the problems.
The following statement must be signed and dated:
I have completed this Final Exam myself, working independently and not consulting with anyone except the instructor nor with any online source except ALEKS. I have neither given nor received help on this problem set.
Name: Date
Maria and John have been married for 2 years and just learned that they are pregnant.
1. They have been renting a small apartment but decide to purchase a house.
They find one that is selling for $375,000.
They decide to make a 20% down payment
They are considering 2 financing options:
Option 1: a 3.4% interest 30-year mortgage:
Option 2: a 2.9% interest 15-year mortgage:
Answer the following questions showing all your work to reach each answer.
A. Which option will result in a lower monthly payment if they take the full term of the mortgage?
B. Which option will result in the most total interest if they take the full term of the mortgage?
Answer the questions showing all your work to reach each answer
2. They decide to shop for furnishings for the new house. They choose items that amount to $1,600.00. The store has 2 simple interest options for purchasing:
Option 1: 20% down payment and financing at 6.4% simple interest per year for 2 years.
Option 2: no down payment and financing at 6.5% simple interest for 3 years.
Answer each of the following questions separately, showing all your work to reach each answer.
A. Which option will result in smaller total finance charge?
B. Which option will result in the smaller monthly payment?
C. If they decide to defer any purchases and take a $1,600 bonus that Maria will be getting from work and invest it at 2.5% per year simple interest, how long will it need to be invested to earn $250 interest
D. If they decide to defer any purchases and invest the $1600.00 bonus at 1.5% interest compounded every month, how much interest will they earn in 3 years?
3. Maria and John have decided that once they live in a house, they want to have a pet. They go to an animal shelter and find several pets that they would love to take home. There are 8 Siamese cats, 12 common cats, 6 German Shepherds, 5 Labrador Retrievers, and 11 mixed-breed dogs. Since they can’t decide, they place all the adoption cards in a container and draw one.
Answer each of the following questions separately, showing all your work to reach each answer.
A. What is the probability that they select a cat?
B. What is the probability that they select either a common cat or a Labrador Retriever dog?
C. What is the probability that if they select a dog, that it is not a mixed breed?
D. What are the odds in favor of and against choosing a Siamese cat?
4. Before the baby is born, John and Mary want to take a vacation to Gatlinburg, TN. They can travel in January or August. They do some research about the weather in January and in August in 2018. Using the information below answer the following questions.
Answer each of the following questions separately, showing all your work to reach each answer
A. In which month was the difference between the mean high temperature and the mean low temperature smaller? Show all your calculations to support your answer.
B. In which month was the difference between the median high temperature and the median low temperature larger? Show all your calculations to support your answer.
|
Day |
High (°F) |
Low (°F) |
|
|
1 jan 2018 |
27.0 |
12.0 |
|
|
2 jan 2018 |
18.0 |
3.0 |
|
|
3 jan 2018 |
26.1 |
3.0 |
|
|
4 jan 2018 |
33.1 |
15.1 |
|
|
5 jan 2018 |
21.9 |
6.1 |
|
|
6 jan 2018 |
23.0 |
6.1 |
|
|
7 jan 2018 |
26.1 |
3.9 |
|
|
8 jan 2018 |
35.1 |
5.0 |
|
|
9 jan 2018 |
37.0 |
27.0 |
|
|
10 jan 2018 |
46.9 |
30.9 |
|
|
11 jan 2018 |
64.9 |
30.9 |
|
|
12 jan 2018 |
64.0 |
48.0 |
|
|
13 jan 2018 |
61.0 |
25.0 |
|
|
14 jan 2018 |
25.0 |
18.0 |
|
|
15 jan 2018 |
27.0 |
15.1 |
|
|
16 jan 2018 |
44.1 |
19.0 |
|
|
17 jan 2018 |
39.0 |
10.9 |
|
|
18 jan 2018 |
16.0 |
3.9 |
|
|
19 jan 2018 |
32.0 |
3.0 |
|
|
20 jan 2018 |
45.0 |
12.0 |
|
|
21 jan 2018 |
50.0 |
28.9 |
|
|
22 jan 2018 |
60.1 |
30.0 |
|
|
23 jan 2018 |
64.0 |
36.0 |
|
|
24 jan 2018 |
52.0 |
30.0 |
|
|
25 jan 2018 |
45.0 |
24.1 |
|
|
26 jan 2018 |
50.0 |
23.0 |
|
|
27 jan 2018 |
54.0 |
24.1 |
|
|
28 jan 2018 |
59.0 |
42.1 |
|
|
29 jan 2018 |
51.1 |
41.0 |
|
|
30 jan 2018 |
48.9 |
27.0 |
|
|
31 jan 2018 |
35.1 |
19.9 |
|
|
Day |
High (°F) |
Low (°F) |
|
|
1 aug 2018 |
75.9 |
64.0 |
|
|
2 aug 2018 |
68.0 |
64.9 |
|
|
3 aug 2018 |
70.0 |
64.9 |
|
|
4 aug 2018 |
78.1 |
64.0 |
|
|
5 aug 2018 |
79.0 |
64.0 |
|
|
6 aug 2018 |
82.0 |
64.0 |
|
|
7 aug 2018 |
80.1 |
64.9 |
|
|
8 aug 2018 |
82.0 |
64.9 |
|
|
9 aug 2018 |
82.0 |
64.9 |
|
|
10 aug 2018 |
79.0 |
62.1 |
|
|
11 aug 2018 |
77.0 |
62.1 |
|
|
12 aug 2018 |
75.9 |
64.9 |
|
|
13 aug 2018 |
79.0 |
62.1 |
|
|
14 aug 2018 |
79.0 |
61.0 |
|
|
15 aug 2018 |
78.1 |
60.1 |
|
|
16 aug 2018 |
80.1 |
61.0 |
|
|
17 aug 2018 |
84.0 |
60.1 |
|
|
18 aug 2018 |
84.0 |
66.0 |
|
|
19 aug 2018 |
75.9 |
66.0 |
|
|
20 aug 2018 |
75.0 |
64.9 |
|
|
21 aug 2018 |
82.0 |
66.0 |
|
|
22 aug 2018 |
78.1 |
66.0 |
|
|
23 aug 2018 |
73.0 |
60.1 |
|
|
24 aug 2018 |
73.0 |
54.0 |
|
|
25 aug 2018 |
77.0 |
53.1 |
|
|
26 aug 2018 |
78.1 |
60.1 |
|
|
27 aug 2018 |
80.1 |
60.1 |
|
|
28 aug 2018 |
81.0 |
63.0 |
|
|
29 aug 2018 |
82.9 |
63.0 |
|
|
30 aug 2018 |
81.0 |
64.0 |
|
|
31 aug 2018 |
79.0 |
64.9 |
|
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