# Past Exam for MATH 110 - ELEM MATH MODELS at Maryland (UMD)

## Exam Information

 Material Type: Exam 3 Professor: Staff Class: MATH 110 - ELEM MATH MODELS Subject: Mathematics University: University of Maryland Term: Spring 2003 Keywords: UnauthorizedEither...orThe IndependentIndependentExclusive OrIndependenceFollowing ProblemsAmortizationLiving WillConditional

## Sample Document Text

MATH 110 EXAM #38 MAY 7, 2003 NAME ________________________ ___ SECTION __ _ SHOW ALL WORKI Part I: For each of the following problems state the formula needed to solve the problem and identify the value of each known variable. Then find the answer to the question: A typical answer might be FV = 20,000(1 +.07112)48 = \$26,441.08. [5] 1. How much money should Lewis invest in an account which pays 4.2% simple interest, so that his investment will be worth \$3750 in 6 years? [5] 2. Stacey invested \$825 in a 148 day C.D. At the end of the 145 days her investment was worth \$900. What rate of simple interest did she receive? 1 INT = PVrt FV = PV(1 + rt) FV = PV(1 + :n )mt reff = (1 + r~m )m - 1 --------~--~------ [8] 3 (a) Patty invested \$11,500 for 6 years in an account paying 3.9% per year, compounded weekly. How much was her investment worth at the end of the 6 years? [4] (b) How much interest did she earn over the 6 years? Part II [8] 4. S is a sample space and E and F are...

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