MAT102A homework 2
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102
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Mathematics
Date
Jan 9, 2024
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docx
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Faye Forrer
MAT102 Assignment 2 1. Rimani left an $12 tip on an $80 restaurant bill. What percent tip is that? How much will the total bill be including tip and 6% tax?
$96.48.
2. Out of 140 triathlon participants who started the race, 112 completed the entire race, 22 gave up, and 6 were disqualified. What percentage did not complete the triathon
?
23.57%.
3. Employees in 2022 paid 4.8% of their gross wages towards social security (FICA tax), while employers paid another 6.9%. How much did someone earning $65,000 a year pay towards social security out of their gross wages in 2022?
$4,680
4. A Kickstarter project that produced an automatic cat litter cleaner (similar to the litter robot) raised 1,123% of their goal, raising a total of $524,887. What was their original goal (in dollar value)?
$46,800
5. An article reports “retail sales dropped 4% this year, to $318 billion.” What
was the retail sales before the drop?
$330 billion
6. A store has clearance items that have been marked down by 80%. They are having a sale, advertising an additional 30% off clearance items. What percent of the original price do you end up paying? (Hint: It is NOT 110%)
16% of the original price
7. A high school currently has a 28% dropout rate. They’ve been tasked to decrease that rate by 15%. Find the equivalent percentage point drop. 4.2%
8. Find a unit rate: You bought 10 pounds of strawberry for $8.
$0.80 per pound of strawberries
9. Solve for x
: 2
3
=
8
x
X = 12
10. A car is driving at 100 miles per hour. How many miles does it travel in 6 seconds? 1.67 miles in 6 seconds
11. Convert 11 feet to inches. (Hint: there 12 inches in a 1 foot)
11 feet = 132 inches
12. An 8ft length of 4-inch-wide crown molding costs $14. How much will it cost to buy 40ft of 4-inch-wide crown molding?
$56
13. A friend lends you $200 for a week, which you agree to repay with 5% one-time interest. How much will you have to repay? $210
14. You deposit $300 in an account earning 5% interest compounded annually. How much will you have in the account in 10 years? formula A = P(1 + r/n)^(nt)
$490.41
15. How much would you need to deposit in an account now in order to have $20,000 in the account in 4 years? Assume the account earns 6% interest compounded annually. Formula P = A/(1 + r/n)^(nt)
$15,979.71
16. You wish to have $3000 in 2 years to buy a fancy new stereo system. How much should you deposit each quarter into an account paying 8% compounded quarterly? Use the annuity formula and solve for PMT the deposit each quarter
$210.39
18. Marie can afford a $250 per month car payment. She’s found a 5-year loan at 7% interest.
Use the loan formula in solve for P the loan
a. How expensive of a car can she afford?
$13,679.78
b. How much total money will she pay the loan company? $15,046.87
c. How much of that money is interest? I = A $1,367.78
19. You want to buy a $25,000 car. The company is offering a 2% interest rate for 48 months (4 years). What will your monthly payments be? Use the loan formula in solve for PMT the monthly payments
$548.64
20. Lynn bought a $300,000 house, paying 10% down, and financing the rest
at 6% interest for 30 years. Find the loan using the down payment then
Use the loan formula and solve for PMT the monthly payments
a. Find her monthly payments.
$1,439.28
b. How much interest will she pay over the life of the loan?
$231,764.80
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