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1001 F11 Ch 10 Exam KEY

# 1001 F11 Ch 10 Exam KEY - Math 1001-010 Fa1l2011 1 You...

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Math 1001-010 Fa1l2011 Midterm Exam 2 2 of 4 1.) You want to retire in exactly 40 years with \$1,000,000 in your IRA. a.) How much will you need to deposit at the end of each month if your IRA has an APR of 6.8% ? (10 points) t ~ 4 0r vr [' s ::: k l ( ooq ODD Cl b.) How much interest will your account earn over the 40 years? (10 points) 2.) Since 2005, when 150 cases were reported, the number of reported new cases each year of ash trees infected by the emerald ash borer has increased by 15%. By the end of 2012, how many ash trees (total), are expected to be infected? (10 points) ? =- (50 (UJQ P )t~J I )() L- U'J )2 ['l. -- s- 1-. 3.) Walport originally marked up their kaki shorts 140%. They then had a 40% off clearance sale. Early birds received an additional 20% off and Fred showed up early with a coupon good for one more additional 15 % off. If the cost of the shorts to the store was \$12, how much money did Fred pay for them? (10 points) - {O'_ (00 Illu 10 0 - tfl) - 14~ _ r.- lifO Fl ------ ---- c...... <lJ

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1001 F11 Ch 10 Exam KEY - Math 1001-010 Fa1l2011 1 You...

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