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Mathematics
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Financial Algebra Advanced
Exam 4: Automobile Ownership
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Question 1
True/False
Pamela called nine repair shops for quotes for auto repairs.The prices are $139,$150,$345,$99,$167,$155,$140,$200,and $160.She calculates to find there are no outliers in the data.
Question 2
Essay
Nina's car exponentially depreciates at a rate of 7% per year.If Nina bought the car when it was 6 years old for $12,000,what was the original price of the car?
Question 3
True/False
Sarah bought a 7-year old car for $10,500.When the car was new,it sold for $21,000.Therefore,the depreciation rate is 9.4%.
Question 4
Multiple Choice
Larry's car is worth $18,000 after 5 years.When the car was new,it sold for $24,000.What is the depreciation rate?
Question 5
True/False
Victor found 5 cars online that he will go to see.The prices of the cars are: $5,000;$4,500;$5,500;$3,999;and $4,999.The median car price is $4,799.60.
Question 6
Short Answer
Aaron just bought a used car from his cousin for $3,500.When he changes the title and gets license plates,he is required to pay sales tax on the purchase price of the car.If the sales tax rate is
%,how much sales tax does he pay?
Question 7
Short Answer
The Jacksons are taking a trip to Florida.Mr.Jackson knows that it is about 945 miles to their destination in Florida from their home in Ohio.He knows the average speed along his route will be 70 miles per hour.How long is the drive?
Question 8
Essay
Djenabah has an insurance policy that requires her vehicle to be properly maintained.If she is in an accident,the insurance company will only pay if the brake efficiency is over 60%.Unfortunately,Djenabah was in an accident.She was driving at a speed of 32 mph on a road that had a drag factor of 0.81.The insurance company's investigator measured three skid mark lengths of 70 ft,72 ft,and 74 ft.Will the insurance company pay Djenabah's claim?
Question 9
Multiple Choice
Jackson bought his first car.He went to an insurance office to get car insurance.Which of these types of insurance is the minimum required by law?
Question 10
Multiple Choice
Mrs.Beluga is driving on a snow-covered road with a drag factor of 0.2.She brakes suddenly for a deer.The tires leave a yaw mark with a 52-foot chord and a middle ornate of 6 feet.What is the minimum speed she could have been going?