Math 1001010
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)
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s
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l
(
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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)

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 Fall '11
 bramson
 Interest, Emerald ash borer

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