Try taking this version of the practice exam under testing conditions: no book, no notes, no classmate’s help, no electronics (computer, cell phone, television). Give yourself one hour to work and wait until you have tried your best on all of the problems before checking any answers.
The Skärstroms want to dig a new well for water for their lake cabin. The company charges $900 to bring the equipment on site and draw the permit and then $2 per foot to dig.
Xander grows tomatoes in his garden. He’s noticed that a typical plant yields 5 pounds of tomatoes. He’s been experimenting with the impact of liquid food on plant yield and estimates that each drop increases yield by 14%.
Xander uses 10 drops of food on one of his tomato plans and uses all of the tomatoes from that plant to make salsa. If each pound of tomatoes makes around a pint of salsa, how much salsa will Xander have (from that one plant)?
Skye and her sister Clover started a t-shirt printing company. To produce a particular t-shirt it costs $350 in materials and labor to set up a silkscreen and then $7.50 for each shirt made to cover materials and printing. The average cost per t-shirt $\(C\) is a function of \(N\text{,}\) the number of t-shirts printed. The equation for this function is
\begin{equation*}
C = \frac{350+7.50N}{N}
\end{equation*}
Approximately how many t-shirts would they need to make to keep the average cost per shirt under $10? Use successive approximation and display your guesses in a table.
Skye designs the shirts and runs the press. Clover is the brains behind sales. She would like to price the shirts at $12.95 each. The sisters will make a profit of $\(P\) where
Kotoyo’s uncle won $100,000 on a game show. If he invests it in a fund that is expected to earn 5.7% interest compounded monthly, how much will he have after 5 years? Use the Compound Interest Formula.
Kotoyo’s grandmother has been contributing $150 a month into a college fund for Kotoyo for the past 8 years. The account pays 4% interest compounded monthly. How much is in the account now? Use the Future Value Annuity Formula.
Kotoyo owes $8,742 on her credit card. They charge her 16% interest compounded monthly. What would her monthly payment be if she wants to pay it off in 5 years? Use the Loan Payment Formula.
