Exam 2: Review and Applications of Algebra

Simplify:

In 2009, Canada's population reached 33,710,000, a level that was 10.56% higher than ten years earlier. Rounded to the nearest 10,000, what was the population figure for 1999?

Rearrange formula (6-1) to isolate t on the left side.

Use formula (4-2) to calculate L if N = $1468.80, d1 = 0.20, d2 = 0.15, and d3 = 0.10.

Evaluate to six-figure accuracy:

A caterer has the following price structure for banquets. The first 20 meals are charged the basic price per meal. The next 20 meals are discounted by $2 each and all additional meals are each reduced by $3. If the total cost for 73 meals comes to $1620, what is the basic price per meal?

Rearrange the formula FV = PV(1 + i)ⁿ to isolate i on the left side.

Evaluate to six-figure accuracy:

Becker Tools sold 32,400 hammers at an average price of $15.10 in Year 1 and 27,450 hammers at an average price of $15.50 in Year 2. What was the percent change from Year 1 to Year 2 in: a. The number of hammers sold? b. The average selling price? c. The revenue from the sale of hammers?

Evaluate to six-figure accuracy:

Evaluate to six-figure accuracy:

A hospital can increase the dollar amount budgeted for nurses' overtime wages during the next year by only 3%. The nurses union has just won an 5% hourly rate increase for the next year. By what percentage must the hospital cut the number of overtime hours in order to stay within budget?

Use formula (6-2) to calculate t if r = 0.0025, S = $5100, and P = $5000.

Solve the following equation: y = 192 + 0.04y

Simplify:

Use the formula FV = PV(1 + i)ⁿ to calculate i if PV = $2000, FV = $9321.91, and n = 20.

Solve the following equation: 3y - 4 = 3(y + 6) - 2(y + 3)

Rearrange formula (6-2) to isolate t on the left side.

The total cost of a coat, including GST and provincial sales tax totalling 14% of the ticket price, was $283.86. What was the ticket price of the coat? Calculate the answer accurate to the cent.