FDMAT 108 (Mathematical Tools for the Real World)
4-A Taking Control of Your Finances
Budget/Action Plan Spreadsheet
Deadline: _
Objectives_
Visit the providentliving.org website, listen to the Use a Budget presentation, and answer a few questions.
Using
FDMAT 108
Unit 1 Practice Exam Key
4A a
1. Linda pays $340 per month for food, a semiannual health insurance premium of $1600, and an annual car
insurance premium of $650. Prorate the given expenses to find th
FDMAT 108
MATHEMATICAL TOOLS FOR THE REAL WORLD
BASIC PROBABILITY EXAM REVIEW
Probability Formulas
Probability of an event A not occurring:
AND Probability: Independent Events
AND Probability: Dependent Events
P(not A) = 1 P(A)
P(A and B and C) = P(A) x P
Math1083AGuidedPractice
.Supposeyouareturninginareceipttoyourwardfinancialclerkforareimbursementand
unfortunatelyonlythefinalamountof$37.29isshowingonthereceipt.Thewardclerkasks
foryourhelptocalculatehowmuchwenttostatesalestaxinadollarandcentsamount.You
k
1.
Very Comfortable Retirement
Suppose you would like to have a retirement fund from which you can draw
an income of $100,000 per year-forever! How much would you need to have
invested by the time you retire? Assume an average APR of 6% with one
compoundi
Two Principles
for Any Economy
P R E S I D E N T D I E T E R F. U C H T D O R F
Second Counselor in the First Presidency
It is often in the trial of adversity that we learn those most
critical lessons that form our character and shape our destiny.
I
n our
Sarah's Financial Action Plan (* Do Not Type In Any Gray Boxes*)
March Budget
Goal
Income
Employment
Financial Aid
Other
Total Income:
Total Savings:
290.00
125.00
125.00
0.00
0.00
0.00
415.00
415.00
0.00
Actual
Difference
7.12
(225.00)
60.00
65.00
(225.0
Wordy Sentences
Wordy sentences contain many unnecessary words. These sentences feel watered downlike you
have to do a lot of work to gain a little information. Good writing is dense and concise; the words in the
sentence do work. Consider the following r
4D Questions
1.
Suppose that you need a loan of $10,000 and are offered a choice of a 3-year loan at 7% interest or a 5-year loan at 8%
interest. Find the monthly payment and total interest for each. Then state a pro and a con for each loan (in terms of t
Math 100G/L
Introduction to
Algebra
and
Finance
BYU-Idaho
MESSAGE FROM THE
FIRST PRESIDENCY
Dear Brothers and Sisters:
Latter-day Saints have been counseled for many years to prepare for
adversity by having a little money set aside. Doing so adds immeasur
61
Section 2.2
Variables and
Formulas
Variables and Formulas
DEFINITIONS & BASICS
1) Variables: These symbols, being letters, actually represent numbers, but the numbers can
change from time to time, or vary. Thus they are called variables.
Example: Tell
1.
How many people at the conference are employed men without a
college degree in the figure above? (See Problem #62 in 1C of your
textbook.)
2.
How many people at the conference are unemployed men without a
college degree in the figure above? (See Proble
1.
Describe in easy to understand language the difference between
simple interest and compound interest and why compounding truly makes a
difference in the long run.
Simple Interest is the interest paid only to the initial investment.
Compounding interest
Discussion board 8B
1. Using the Rule of 70, what is the doubling time for a money market investment CD (certificate of
deposit) that earns 3.75% annually?
answer 70/3.75 = 18.66666
2.- In 1982 the approximate membership in The Church of Jesus Christ of L
4D answers
1.
Suppose that you need a loan of $10,000 and are offered a choice of a
3-year loan at 7% interest or a 5-year loan at 8% interest. Find the monthly
payment and total interest for each. Then state a pro and a con for each loan
(in terms of the
1.
Give a thoughtful example for each of the three types of probabilities: (empirical,
theoretical, subjective).
An empirical probability is an estimate that an event will happen based on how
often the event occurs after collecting data or running an expe
1.
A covered jar contains 3 green marbles, 5 blue marbles, and 9 white
marbles and you cant see these contents. What is the probability that, if you
randomized the marbles by shaking the jar and pulled out two marbles in a
row (without replacement), you w
FDMAT 108 (Mathematical Tools tor the Real World) UNIT 1 GUIDED PRACTICE SOLUTIONS
B-A
1. Suppose the number of cells in a tumor double every 6 months. If the tumor begins with a single cell, how many
cells will there be after 3 years? After 4 years?
Mont
1.
Choose the fallacy that best represents the following
statements: Over the past few hundred years, global warming
has increased and the number of pirates on the open seas has
decreased. Therefore, global warming must be caused by a lack of
pirates.
Lim
Section 2.3 More Formulas
A calculator is a beautiful thing. You have been able to use one for a short time now and
have probably enjoyed it considerably when compared to doing all of the math by hand. You are
now ready to take another step with a much m
Pronoun Problems
Sometimes the use of pronouns can give writers trouble. The following guidelines will help clarify the most
common issues.
Quick Review: What are pronouns?
A pronoun replaces a noun with words l
Financial ToolBoxes
(Gray-shaded boxes are the outputs based on the given inputs above them. Do not type in the shaded boxes.)
APR
Compounding Periods
Present Value
Payment
Years
Future Value:
APR
Compounding Periods
Present Value
Future Value
Years
Payme
Financial ToolBoxes
(Gray-shaded boxes are the outputs based on the given inputs above them. Do not type in the shaded boxes.)
APR
Compounding Periods
Present Value
Payment
Years
Future Value:
APR
Compounding Periods
Present Value
Future Value
Years
Payme
Financial ToolBoxes
(Gray-shaded boxes are the outputs based on the given inputs above them. Do not type in the shaded boxes.)
APR
Compounding Periods
Present Value
Payment
Years
Future Value:
APR
Compounding Periods
Present Value
Future Value
Years
Payme
DESCRIPTIVE STATISTICS
Over the semester as you are taking Math 108, please keep track of your sleep hours (rounded to the nearest .5
Be sure to finish the descriptive statistics at the bottom and do a Copy / Paste of the table to your PowerPoint slid
Sem
Financial ToolBoxes
(Gray-shaded boxes are the outputs based on the given inputs above them. Do not type in the shaded boxes.)
APR
Compounding Periods
Present Value
Payment
Years
Future Value:
APR
Compounding Periods
Present Value
Future Value
Years
Payme
Sarah's Financial Action Plan
Sarah's Daily Expense Record
(* Do Not Type In Any Gray Boxes*)
Debit
Cash
February Budget
Income
Employment
Financial Aid
Other
Total Income:
Goal
290.00
125.00
100.00
415.00
Goal
Savings (Short Term)
Emergency
Living Expens