Math 1030 Section 3
William Malone
Practice Test 2
Name:
This is a practice test. The actual test will have similar questions covering similar
topics. The loan payment formula, and the savings plan formula will be given on
the exam. All other formulas (besides the earthquake formula) must be memorized.
Each problem that you complete on this practice test will be worth 3 homework points
counted to your webwork score.
Good Luck!!!
1. (5pts)
2. (5pts)
3. (5pts)
4. (5pts)
5. (5pts)
6. (5pts)
7. (5pts)
8. (5pts)
9. (5pts)
10. (5pts)
11. (5pts)
12. (5pts)
13. (5pts)
14. (5pts)
15. (5pts)
16. (5pts)
17. (5pts)
18.(5pts)
19.(5pts)
20.(5pts)
Total (100)
Percent
1. (5 points) James takes Karen out to dinner. The total bill was $95, what would
a 17% tip be? What would the total cost of the dinner be if a 23% tip was
given?
2. (5 points) Stan’s car originally cost $15, 000 in 1985. Today the car is worth
$400. What is the absolute change in the cost of the car? What is the relative
change in the cost of the car?
3. (5 points) Marty’s coin collection is worth $11, 000. Steve has a coin collection
worth $5, 700. What is the absolute difference when Marty’s collection is compared to Steve’s? What is the relative difference between Marty’s collection and
Steve’s (where Steve’s collection is the reference value). What is the value of
Marty’s collection in terms of Steve’s?
4. (5 points) Multiply 3.52 × 1032 and 2.46 × 1071 . Compute
both your answers are in scientific notation.
2.1×1022
.
7.43×1045
Be sure that
5. (5 points) Doug puts $6572 into an account that gives simple interest at a rate
of 5% per year. How much money does Doug have after 6 years?
6. (5 points) Emily puts $8907 into an account that gives compound interest with
an APR of 7% compounded weekly. How much money is in the account after
18 years?
7. (5 points) Darcy has a bank account that gives 4% interest compounded daily.
What is the APY of the account?
8. (5 points) Tom puts $300 every week into a savings account that gets 7% interest. If the account is compounded weekly how much money does Tom have
after 30 years?
9. (5 points) Brooke decides to buy a $200, 000 house. If she puts no money down
how much is her monthly payment if she gets a 15 year loan at 6%?
10. (5 points) The population of the United States is doubling every 50 years. If
there are 300 million people in the United States in 2010, than how many people
will there be in 2070?
11. (5 points) The most powerful atomic blast ever recorded released 2.1×107 joules
of energy. How many of these blasts would release the same amount of energy
as a 9.5 magnitude earthquake? (log10 (E) = 4.4 + 1.5M )
12. (5 points) If there are 20 vampires in 1945 and 780 vampires in 1973, what is
the doubling time for the number of vampires?
13. (5 points) Sodium 22 has a half-life of 2.6 years. How much time does it take
for 10kg of sodium 22 to become .8kg of sodium 22?
14. (5 points ) A colony of bacteria is growing at a rate of 7% per day. What is the
doubling time for this colony?
15. (5 points) Shirley is paying $1400 a month on a house that she bought in 1998.
If the interest rate on the loan is 5% and lasts for 15 years, than how much was
the original amount of the loan? What was the total amount the Shirley payed
over the life of the loan? What was the total amount of interest that she paid?
16. (5 points) Carlisle wants to save 3 million dollars for retirement in 30 years. If he
finds a retirement account that gets 10% interest and is compounded monthly
then much should he contribute every month?