PROBLEM SET

NOTE. PLEASE SHOW ALL WORKING.
A.32) A house sells for $495,000 and a 35% down payment is made. A 30-year
mortgage at 7.5% was obtained.
(i) Find the down payment.
(ii) Find the amount of the mortgage.
(iii) Find the monthly payment.
(iv) Find the total interest paid.

B.32) As part of her retirement planning, Mrs. Smith purchases an annuity that pays
16% compounded quarterly. If the quarterly payment is $7500, how much will
Mrs. Smith have saved in 8 years?
C.32. In a group of 37 children, 19 had a dog, 17 had a cat, and 14 had both a dog and a cat. How many children
had only a dog? How many children had only a cat? How many children had neither a dog nor a cat as a pet?
D.32) Use inductive reasoning to conjecture the rule that relates the number you
selected to the final answer. Try to prove your conjecture using deductive
reasoning.
Select a number:
Multiply by 3:
Subtract 9 from the answer:
Divide by 3:
Subtract the original number:
E.32) Provided below are the sizes of 15 farms, in acres, randomly selected from the
state of Oregon. The mean of this sample is 494 acres.
3200 417 171 153 307 395 240 428
169 370 323 523 339 171 204
a. Find the median of the sample and compare it to the mean and discuss the
difference.
b. Find the mean and the median if you throw out the 3200 acre farm which has
the largest area by far. What does this tell you?

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