1. How many years would you have to save up for a down payment on a house if you put down 56 % of the required down payment of $ 7,740, and you could find an investment that let you earn 8% compounded 363 times per year? Report your answer to two decimal places.
2. In many common situations, people misuse basic mathematical concepts, usually innocently, but sometimes to make "reasonable" ideas sound good. One example is the usage of percent's.
A politician recently introduced a measure to increase the sales tax in his city from 2.29% by adding 1 percentage points. For example, if the current tax was 2%, he might want to make it 4% by "adding 2%." He has stated that the change is reasonable since the amount added is small.
Let us see the real effect of his proposal. Calculate the percentage change in taxes to the nearest tenth using the formula for percent change.
3. What value of x in the function below is not in its domain?
y = f(x) = (99x+64)-2
4. There are two general types of costs in business: fixed costs and variable costs. Fixed costs are expenses that do not change (in the short run) with changes in activity or production volume. Examples include rent, salaries, and utilities. Variable costs include materials and hourly wages. A simple model for the total cost of operations, as a function of quantity of product produced, is
T = F + VQ,
where F is fixed cost, V is variable cost, and Q is quantity produced.
Umbrella Corporation has the following cost equation for each month:
T = 7,712 + 2,935Q
This month, Umbrella sold 4.15 items. What percentage of total costs is made up by variable costs? Enter your answer as a percentage without the % sign.