MTH 146
Review for TEST #2
1. How many months will it take $8500 to earn $318.75 at a simple interest rate of 5%?
ans = 9
2. What single payment would settle the amounts owing?
$3576.37
ans =
$1000 due two months ago
$1200 due in 3 months
$1400 due in 4 m

Chapter 6 Trade Discount, Cash Discounts, Markup & Markdown ( pg 202 )
( old bk Chapter 5 pg 175 )
trade discount: reduction of a catalogue, list price or manufacturers suggested retail price
(MSRP) & usually stated as a percent of the list price or MSRP

Chapter 11 Ordinary Simple Annuities ( pg 392 )
( old bk pg 420 )
annuity: a series of payments, usually of equal size, made at different time intervals
ex. mortgage/loan/lease payments, investments, kids education savings, RRSP
payment interval or period

Chapter 13 Annuities Due ( pg 463 )
( old bk pg 503 )
annuity due: where the periodic payments are made at the beginning of each payment period
(in earlier chapters, the payments were made at the end of the payment period)
- because payments are made at t

Chapter 10 Compound Interest Further Topics ( pg 364 )
( old bk pg 389 )
- this chapter manipulates the compound interest future value formula to solve for n ( in years )
FV = PV ( 1 + i ) m n
Remember to find i using j
m
Finding n: to find an exponent va

Chapter 12 Ordinary General Annuities ( pg 432 )
( old bk pg 466 )
general annuity: where the interest period is different from the payment period
ex. a mortgage, where interest is compounded semi-annually but payments are made monthly
- because the inter

Chapter 9 Compound Interest ( pg 312 )
interest earned on interest > see Table 9.1 pg 313
- period may be annually, semi-annually, quarterly, monthly, daily
( old bk pg 329 )
( old bk pg 329 )
Calculating the periodic rate of interest (pg 315 )
( old bk p

Chapter 7 Simple Interest ( pg 246 )
( old bk pg 260 )
interest: rent paid to borrow money
simple interest: interest charged on amount invested, not accumulated interest
I=Prt
where:
I = simple interest
P = principal (present value) sum of money earning t

Chapter 3 Ratio, Proportion & Percent ( pg 84 )
( old bk pg 93 )
ratio: a comparison of the relative values of numbers or quantities
written as
3 to 2
with a colon
3:2
as a fraction
3/2
as a decimal
1.5
as a percent
150%
ratios must always be reduced to l

Chapter 2 Review of Basic Algebra ( pg 38 )
Section 2.1 Simplification of Algebraic Expressions ( pg 39 )
( old bk pg 41 )
( old bk pg 42 )
For addition & subtraction, only like terms can be collected.
For multiplication, multiply each term by whats in fr

MTH 146
Review for TEST #3
1. Calculate the nominal rate of interest compounded monthly that is equivalent to an effective
rate of 3.56%? Express the answer as in % rounded to 1 decimal place.
ans = 3.5%
2. Joel bought a sound system that requires quarter

MTH 146
Review for TEST #5
1. Calculate the rate of discount given on a BBQ that listed at $168, but sold for $105. Express
the answer as a % rounded to 1 decimal place.
ans = 37.5%
2. What is the single equivalent rate of discount for 40%, 10%, 8 1 %?
Ex

MTH 146
Review for TEST #1
1. Calculate. Round to 2 decimals if necessary.
1
a) abc0 =
ans = ab
b) 45 9 =
ans = 1.53
c) (3 x2 y4) 3 =
ans = 27 x6y12
d) 2 (- 4) 5 =
ans = - 2048
e) - 4 (5m)(3n) =
ans = - 60mn
f) - 3 4 =
ans = - 81
g)
w -3
=
z -2
ans = z2
w

MTH 146
Review for TEST #4
1. To buy a car, Dawn needs to save $14 000. How much would she have to deposit into an
account at the beginning of every 3 months over 3 years if interest is 7% compounded semiannually?
ans =
$1041.42
2. Paul buys a house for $

MODULE 2 UNIT 1
ASSIGNMENT
Total marks for Assignment 1
marks
Answer the following questions. Show your work.
38
1.
Evaluate 6x2 4x +3 for x =2
3 marks
2.
Simplify (x2 +5) (3 4x2)
3 marks
3.
Simplify 3(7x 3) + 2(5 3x)
3 marks
4.Find the product 7x(2x4)