1.
Look at the attached spreadsheet that includes an amortization schedule for a loan borrowed at an interest rate of 9.5% compounded quarterly. a) What is the amount of the loan?
b) How long is the loan for in years?
c) What is the value of the periodic interest rate? (Give your answer as a fraction)
d) How much is the interest portion of the 16th payment?
e) How much is the principle portion of the 29th payment?
f) How much principle was paid after 24 months?
g) What is the cost of the loan?
h) Fill in the missing values for the 35th payment.
i) How much principle should be paid for the whole period of the loan?
Hsayed Math 150 HD
Test 2 (Goals 3 & 4) April 2003
2.
The following table represents information about 350 students in SJW. Married (M) 37 45 20 Single (S) 98 120 30
Passed Math Passed English Passed Computing Total
a) Complete the above table
b) Find the following probabilities: i. P(M)
ii. P(Passed Math)
iii. P(M & Passed Math)
iv. P(S or Passed Computing)
v. P(M & S)
vi. P(M or S)
vii. P(M or Passed Math)
Hsayed Math 150 HD
Test 2 (Goals 3 & 4) April 2003
3. The probability of a person going to the beach in spring is 0.67. The probability of having a barbeque is 0.89 and the probability of going to the beach and having a barbeque is 0.75. What is the probability of going to the beach or having a barbeque?
4. 10% of 50 radios contained in a box are defective. If three radios are selected at random and with replacement, what is the probability of selecting good radios?
5. Are the following events mutually exclusive? a. Selecting a person who earns more than Dh750 per week and a person who earns more than Dh1000 per week.
b. Selecting a person who is 30 years old and selecting a person who is less than 20 years old.
Hsayed Math 150 HD
Test 2 (Goals 3 & 4) April 2003
6. A box contains 11 red, 9 green and 5 blue balls. Three balls are selected at random and without replacement. Find: a. The probability of selecting first green, second blue and third red.
b. The probability of selecting three green balls.
c. The probability of selecting one red, one green and one blue.
Hsayed Math 150 HD
Test 2 (Goals 3 & 4) April 2003
HIGHER COLLEGES OF TECHNOLOGY
MATH 150 TEST # 2
Goals
:3&4
Duration
: 1 hour
Value of this test Instructors
: 20% : Hussein : _____________________________Section:_______
Name ID.
: ______________________________
INSTRUCTIONS TO CANDIDATES:
1. Answer the questions on the same paper. 2. Show all your working. Partial credit may be awarded. 3. Scientific calculators are allowed.
Hsayed Math 150 HD
Test 2 (Goals 3 & 4) April 2003