Question :

Dr. Collins borrowed some money to buy new furniture for her office. She
paid $720.00 simple interest on a 7.5-year loan at 16%. Find the
principal.

Student Answer:

$750

$500

$600

$700

Instructor
Explanation:

See section 9.2 of the textbook.

Points Received:

1 of 1

Comments:
1416845514

MultipleChoice

True

1416845514

MultipleChoice

2.

Question :
A single card is drawn from a deck. Find the probability of selecting a 10
or a diamond.

Student Answer:

9/26

7/52

4/13

17/52

Instructor
Explanation:

See sections 11.4 and 11.5 of the textbook.

Points Received:

1 of 1

Comments:
1416845515

MultipleChoice

43

True

3.

1416845515

MultipleChoice

43

Question :
The odds against an event are 9:8. Find the probability that the event will
occur.

Student Answer:

8/9

8/17

9/17

9/8

Instructor
Explanation:

See section 11.3 of the textbook.

Points Received:

1 of 1

Comments:
1416845516

MultipleChoice

29

True

1416845516

MultipleChoice

29

4.

Question :
In a classroom, the students are 12 boys and 6 girls. If one student is
selected at random, find the probability that the student is a girl.

Student Answer:

2/3

1/6

1/3

1/2

Instructor
Explanation:

See section 11.1 of the textbook.

Points Received:

0 of 1

Comments:
1416845517

MultipleChoice

36

False

5.

1416845517

MultipleChoice

36

Question :
A coat with an original price of $300.00 is on sale for $285.00. Find the
percent of the markdown.

Student Answer:

10%

3%

95%

5%

Instructor
Explanation:

See section 9.5 of the textbook.

Points Received:

1 of 1

Comments:
1416845518

MultipleChoice

20

True

1416845518

MultipleChoice

20

6.

Question :
A tie pin which sells for $200.00 has a markup rate of 30% on the selling
price. Find the amount of the markup and the cost.

Student Answer:

Markup Amount = $50.00, Cost = $150.00

Markup Amount = $60.00, Cost = $150.00

Markup Amount = $60.00, Cost = $140.00

Markup Amount = $70.00, Cost = $130.00

Instructor Explanation: See section 9.5 of the textbook.

Points Received:

1 of 1

Comments:
1416845519

MultipleChoice

24

True

7.

1416845519

MultipleChoice

24

Question :
Find the maturity value.

Student Answer:

$1,586.98

$3,588.63

$1,636.60

$1,516.23

Instructor
Explanation:

See section 9.2 of the textbook.

Points Received:

1 of 1

Comments:
1416845520

MultipleChoice

True

1416845520

MultipleChoice

8.

Question :
Find the missing value.

Student Answer:

7 years

6.5 years

5.5 years

4 years

Instructor
Explanation:

See section 9.2 of the textbook.

Points Received:

1 of 1

Comments:
1416845521

MultipleChoice

True

1416845521

MultipleChoice

9.

Question :
Find the future value of an annuity if you invest $1,550 annually for 5
years at 11.5% compounded annually.

Student Answer:

$9,800.05

$9,729.30

$9,849.67

$9,749.55

Instructor
Explanation:

See section 9.2 of the textbook.

Points Received:

1 of 1

Comments:
1416845522

MultipleChoice

26

True

1416845522

MultipleChoice

26

10.

Question :
Phil had an unpaid balance of $1,854.50 on his credit card statement at
the beginning of December. He made a payment of $45.00 during the
month. If the interest rate on Phil's credit card was 2.5% per month on
the unpaid balance, find the finance charge and the new balance on
January 1.

Student Answer:

Finance charge = $44.47; new balance = $1,853.97

Finance charge = $50.47; new balance = $1,859.97

Finance charge = $56.50; new balance = $1,866.00

Finance charge = $46.36; new balance = $1,855.86

Instructor Explanation: See section 9.3 of the textbook.

Points Received:

1 of 1

Comments:
1416845523

MultipleChoice

13

True

1416845523

MultipleChoice

13

11.

Question :
Find the compound interest.

Student Answer:

$691.20

$2,264.52

$640.00

$2,691.20

Instructor
Explanation:

See section 9.2 of the textbook.

Points Received:

0 of 1

Comments:
1416845524

MultipleChoice

23

False

1416845524

MultipleChoice

23

12.

Question :
If two people are selected at random, what is the probability that they
were both born in winter (December, January, or February)?

Student Answer:

1/4

1/16

1/144

9/6

Instructor
Explanation:

See section 11.5 of the textbook.

Points Received:

1 of 1

Comments:
1416845525

MultipleChoice

50

True

1416845525

MultipleChoice

50

13.

Question :
The odds against an event are 8:8. Find the probability that the event will
occur.

Student Answer:

1/3

3/1

1/4

1/2

Instructor
Explanation:

See section 11.3 of the textbook.

Points Received:

1 of 1

Comments:
1416845526

MultipleChoice

46

True

1416845526

MultipleChoice

46

14.

Question :
Find the effective rate when the stated rate is 13.5% and the interest is
compounded semiannually.

Student Answer:

13.21%

14.21%

13.96%

15.01%

Instructor
Explanation:

See section 9.2 of the textbook.

Points Received:

1 of 1

Comments:
1416845527

MultipleChoice

14

True

1416845527

MultipleChoice

14

15.

Question :
If two people are selected at random, what is the probability that they
were both born in May?

Student Answer:

1/6

1/132

1/12

1/144

Instructor
Explanation:

See section 11.5 of the textbook.

Points Received:

1 of 1

Comments:
1416845528

MultipleChoice

39

True

1416845528

MultipleChoice

39

16.

Question :
Three coins are tossed. Find the probability that no more than one coin
lands heads up.

Student Answer:

5/8

1/4

3/8

1/2

Instructor
Explanation:

See section 11.1 of the textbook.

Points Received:

1 of 1

Comments:
1416845529

MultipleChoice

55

True

1416845529

MultipleChoice

55

17.

Question :
A single card is drawn from a deck. What is the probability of getting a
queen or a king?

Student Answer:

3/52

1/13

7/52

2/13

Instructor
Explanation:

See section 11.4 of the textbook.

Points Received:

1 of 1

Comments:
1416845530

MultipleChoice

52

True

1416845530

MultipleChoice

52

18.

Question :
Find the missing numbers.

Student Answer:

Cost = $87.50, Markup Amount = $87.50

Cost = $337.50, Markup Amount = $137.50

Cost = $337.50, Markup Amount = $142.50

Cost = $327.50, Markup Amount = $147.50

Instructor Explanation: See section 9.5 of the textbook.

Points Received:

1 of 1

Comments:
1416845531

MultipleChoice

18

True

1416845531

MultipleChoice

18

19.

Question :
A package contains 9 candy canes, 6 of which are cracked. If 2 are
selected, find the probability of getting no cracked candy canes.

Student Answer:

0.3852

0.1938

0.2870

0.0833

Instructor
Explanation:

See section 11.5 of the textbook.

Points Received:

1 of 1

Comments:
1416845532

MultipleChoice

54

True

1416845532

20.

MultipleChoice

54

Question :
A coat was reduced from $250 to $200. Find the percent of the reduction
in price.

Student Answer:

1.25%

0.8%

20%

25%

Instructor
Explanation:

See section 9.5 of the textbook.

Points Received:

1 of 1

Comments:
1416845533

MultipleChoice

19

True