Asked by lijm

I am reviewing for my final exam on December 11. I'm working on a practice sheet and I want to know if my answers are correct.

1) Find the equation of the line passing through the points (1,3) and (5,2). Put into slope-intercept if possible?
2-3/5-1= -1/4
y-3=-1/4(x-1)
y=-1/4x+13/4

2) Determine the simple interest rate at which $1000 grows to $1,300 in 300 days?
A= 1,300 P=1,000 T=1 (1 year right? Since the unit is by years I'm guessing)
1300=1000 (1+r)
=.3=r

3) How much money should be deposited in a bank earning interest at 3.0% per year compounded monthly such that at the end of 5 years, the amount will be $30,000?
m= 12 (since it's monthly) t= 5 (5 years) r=0.03 A=$30,000
30,000=p(1+0.03/12)^12*5
= 3.14

4) 50% of the fruit on a farm is pick your own. 25% of all the fruit that is picking your own and apples. What is the percentage of fruit that is apples given that it is pick-your own?

p(A) = Pick your own p(B) = apples
Find P(B l A) I'm guessing:
p(B l A) = P(BintersectA)/p (A) = .25/.50 = .5



Answered by oobleck
#1 ok
#2 is correctly calculated, but the interest rate is 30%
#3 seriously? Did you ask yourself whether $3.14 could grow to #30,000 in 5 years?
#4 Can't tell. Your whole question is impossible to parse. That can't be the way it was written.
Answered by lijm
Thats what the calculator gave me and the question was actually written like that. It was on a review sheet.
Answered by lijm
But are 3 and 4 set up right? That's all I'll ask and I'll shut up.
Answered by lijm
I think I used the wrong formula for 3.
Answered by oobleck
Actually, the formula for #3 is correct. I have no idea how you ended up with 3.14 ... I got 25826.10
There are no AI answers yet. The ability to request AI answers is coming soon!