MATH 106 6383 Finite Mathematics (2192)
Week 1 Discussion
LEO Participation Discussion Topics
SIMPLE INTEREST AND DISCOUNT
1. You borrow $4,500 for six months at a simple interest rate of 8%. How much is the interest?
2. Jessica takes a loan of $800 for 4 months at 12% simple interest. How much does she owe at the end of the 4-month period?
3. Jamie just paid off a loan of $2,544, the principal and simple interest. If he took out the loan six months ago at 12% simple interest, what was the amount borrowed?
4. A credit card company charges 18% interest on the unpaid balance. If you owed $2000 three months ago and have been delinquent since, how much do you owe?
5. Nancy borrowed $1,800 and paid back $1,920, four months later. What was the simple interest rate?
6. Tasha signs a note for a discounted loan agreeing to pay $1200 in 8 months at an 18% discount rate. Determine the amount of the discount and the proceeds to her.
7. An amount of $4,000 is borrowed at a discount rate of 10%, find the proceeds if the length of the loan is 180 days.
8. Mary owes June $750, and wants to pay her off. She decides to borrow the amount from her bank at a discount rate of 16%. If she borrows the money for 10 months, find the amount of the loan she should ask for so that her proceeds are $750?
COMPOUND INTEREST
9. How much should be invested at 10.3% for it to amount to $10,000 in 6 years?
10. Thuy needs $1,850 in eight months for her college tuition. How much money should she deposit lump sum in an account paying 8.2% compounded monthly to achieve that goal?
MATH 106 6383 Finite Mathematics (2192)
Week 2 Discussion
LINEAR EQUATIONS AND INEQUALITIES (Basic Mathematics Review, Chapter 5, Sections 5.5 – 5.8, and Chapter 7, Sections 7.2 – 7.7)
Solve for the variable:
(c/2) – 8 = 0
5(m – 3) + 4 = -1
3r + 25 = – 1
3x/4 + 2 = 14
-7(2a-1) = 63
3x + 7 = 5x – 21
4x – 36 + 2 = -6
3y/4 + 16 = 10
4(x+2) = 20
-2(a-3) = 16
6x – 17 = 3
x/7 – 15 = -11
-(8r+1) = 33
4y + 5 = -3
2(3x+1) -5x = 4(x-6) + 17
Solve P =R – C for R. Find the value of R when P =480 and C =210.
Solve y =5x +8 for x.
Solve 3y −6x =12 for y.
Solve 4y +2x +8=0 for y.
Solve:
Twenty percent of a number is 6 What is the number?
This year an item costs $106, an increase of 10% over last year’s price. What was last year’s price?
MATH 106 6383 Finite Mathematics (2192)
Week 3 Discussion
AUGMENTED MATRIX METHOD TO SOLVE SYSTEM OF LINEAR EQUATIONS (Precalculus, Section 9.7)
For the following exercises, write the augmented matrix for the linear system.
8x−37y=8 2x+12y=3
2x−3y=−95x+4y=58
6x+2y=−43x+4y=−17
2x+3y=12 4x+y=14
For the following exercises, solve the system by Gaussian elimination.
100030
124536
-20 0211
6234-4-17
-4-33-5-2-13
3 4-6-8 12-24
MATH 106 6383 Finite Mathematics (2192)
Week 4 Discussion
LINEAR PROGRAMMING (Applied Finite Mathematics, “Linear Programming: A Geometric Approach”)
For the following exercises, solve using the graphical method. Choose your variables, write the objective function and the constraints, graph the constraints, shade the feasibility region, label all corner points, and determine the solution that optimizes the objective function.
A farmer has 100 acres of land on which she plans to grow wheat and corn. Each acre of wheat requires 4 hours of labor and $20 of capital, and each acre of corn requires 16 hours of labor and $40 of capital. The farmer has at most 800 hours of labor and $2400 of capital available. If the profit from an acre of wheat is $80 and from an acre of corn is $100, how many acres of each crop should she plant to maximize her profit?
Mr. Tran has $24,000 to invest, some in bonds and the rest in stocks. He has decided that the money invested in bonds must be at least twice as much as that in stocks. But the money invested in bonds must not be greater than $18,000. If the bonds earn 6%, and the stocks earn 8%, how much money should he invest in each to maximize profit?
A computer store sells two types of computers, desktops and laptops. The supplier demands that at least 150 computers be sold a month. In order to keep profits up, the number of desktops sold must be at least twice of laptops. The store pays its sales staff a $75 commission for each desk top, and a $50 commission for each lap top. How many of each type of computers must be sold to minimize commission to its sales people? What is the minimum commission?
Mr. Shoemacher has $20,000 to invest in two types of mutual funds, Coleman High-yield Fund, and Coleman Equity Fund. The High-yield fund gives an annual yield of 12%, while the Equity fund earns 8%. Mr. Shoemacher would like to invest at least $3000 in the High-yield fund and at least $4000 in the Equity fund. How much money should he invest in each to maximize his annual yield, and what is the maximum yield?
Dr. Lum teaches part-time at two different community colleges, Hilltop College and Serra College. Dr. Lum can teach up to 5 classes per semester. For every class taught by him at Hilltop College, he needs to spend 3 hours per week preparing lessons and grading papers, and for each class at Serra College, he must do 4 hours of work per week. He has determined that he cannot spend more than 18 hours per week preparing lessons and grading papers. If he earns $4,000 per class at Hilltop College and $5,000 per class at Serra College, how many classes should he teach at each college to maximize his income, and what will be his income?
Mr. Shamir employs two part-time typists, Inna and Jim for his typing needs. Inna charges $10 an hour and can type 6 pages an hour, while Jim charges $12 an hour and can type 8 pages per hour. Each typist must be employed at least 8 hours per week to keep them on the payroll. If Mr. Shamir has at least 208 pages to be typed, how many hours per week should he employ each student to minimize his typing costs, and what will be the total cost?
Mr. Boutros wants to invest up to $20,000 in two stocks, Cal Computers and Texas Tools. The Cal Computers stock is expected to yield a 16% annual return, while the Texas Tools stock promises a 12% yield. Mr. Boutros would like to earn at least $2,880 this year. According to Value Line Magazine’s safety index (1 highest to 5 lowest), Cal Computers has a safety number of 3 and Texas Tools has a safety number of 2. How much money should he invest in each to minimize the safety number? Note: A lower safety number means less risk.
A department store sells two types of televisions: Regular and Big Screen. The store can sell up to 90 sets a month. A Regular television requires 6 cubic feet of storage space, and a Big Screen television requires 18 cubic feet of space, and a maximum of 1080 cubic feet of storage space is available. The Regular and Big Screen televisions take up, respectively, 2 and 3 sales hours of labor, and a maximum of 198 hours of labor is available. If the profit made from each of these types is $60 and $80, respectively, how many of each type of television should be sold to maximize profit, and what is the maximum profit?
A small company manufactures two types of radios- regular and short-wave. The manufacturing of each radio requires two operations: Assembly and Finishing. The regular radios require 1 hour of Assembly and 3 hours of Finishing. The short-wave radios require 3 hours of Assembly and 1 hour of Finishing. The total work-hours available per week in the Assembly division is 60, and in the Finishing division, 60. If a profit of $50 is realized for every regular radio, and $75 for every short-wave radio,
how many of each should be manufactured to maximize profit, and
what is the maximum profit?
A company produces two types of shoes – casual, and athletic – at its two factories, Factory I and Factory II. Daily production of each factory for each type of shoe is listed below.
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