Multiple Choice
Identify the choice that best
completes the statement or answers the question.
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1.
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Patrick invested $4000 for 9 years. At the investment’s maturity, its
value was $5476. What was the annual simple interest rate?
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2.
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Determine the future value and the total interest earned for the
investment.
Principal (P) ($)
| Compound
Interest Rate per Annum (%) |
Compounding Frequency
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Term
| 35 000 | 3.7 | quarterly | 7 years | | | | |
A. | $45 239.99; 10 239.99 | B. | $46 245.18; $11 245.18 | C. | $45 293.23; $10
293.23 | D. | $44 669.12; $9669.12 |
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3.
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Use the Rule of 72 to estimate the investment’s doubling time and then
determine the actual doubling time.
Principal (P)
($)
| Compound Interest Rate per Annum (%) |
Compounding
Frequency
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Term
| 5000 | 4.5 | monthly | 5 years | | | | |
A. | 16 years; 15.43 years | B. | 16 years; 15.57 years | C. | 16 years; 15.89
years | D. | 16 years; 15.73 years |
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4.
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Use the Rule of 72 to estimate the investment’s doubling time and then
determine the actual doubling time.
Principal (P)
($)
| Compound Interest Rate per Annum (%) |
Compounding
Frequency
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Term
| 80 000 | 7.2 | quarterly | 15
years | | | | |
A. | 10 years; 9.97 years | B. | 10 years; 9.71 years | C. | 10 years; 10.2
years | D. | 10 years; 9.63 years |
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5.
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Determine the present value of a 3-year CSB with an interest rate of 3.9%,
compounded semi-annually, if the future value is $2000.
A. | $1786.43 | B. | $1814.49 | C. | $1779.51 | D. | $1781.18 |
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6.
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Determine the future value of semi-annual payments of $350 into an account that
pays 2.4% interest, compounded semi-annually, for 32 years.
A. | $13 556.48 | B. | $33 413.92 | C. | $51
952.26 | D. | $38 830.51 |
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7.
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Regular weekly payments of $20 are deposited into an account paying 1.5%
interest, compounded weekly. If the final value of the account is $5000, how long was the money
invested?
A. | 4.64 years | B. | 5.30 years | C. | 4.96
years | D. | 4.10 years |
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8.
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For 16 years, regular monthly payments of $250 are deposited into an account
that compounds interest monthly. If the final value of the account is $60 000, what was the interest
rate?
A. | 2.71% | B. | 2.84% | C. | 2.76% | D. | 2.80% |
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9.
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Carlos was approved for a mortgage to finance his new house that he purchased
for $325 000. He made a down payment that was 20% of the purchase price. The mortgage is
compounded semi-annually at an interest rate of 4.2%. Carlos will repay the mortgage in 25 with
regular monthly payments. How much will each monthly payment be?
A. | $1744.98 | B. | $1395.99 | C. | $1401.25 | D. | $1751.56 |
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10.
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Kristina took out a bank loan for $60 000 that must be repaid with regular
monthly payments of $1100. The bank charges her an interest rate of 3.0%, compounded monthly. How
many payments will Kristina have to make to pay off the bank loan?
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11.
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Johanna needs a place to live. She can either rent an apartment or buy a new
house. Renting costs $300 per week. She can finance the purchase of a house that costs $280 000 with
a mortage. She has negotiated with the bank a mortgage of 87% of the purchase price at an interest
rate of 3.9%, compounded semi-annually. The term of the mortgage is 15 years and it requires regular
monthly payments. The house depreciates at a rate of 4%. If she moves out after 6 years, what is her
total cost of living in the apartment?
A. | $164 984.20 | B. | $93 600.00 | C. | $21
600.00 | D. | $130 000.00 |
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12.
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Jace needs special equipment for his job as a landscaper. He has two options. He
can buy the equipment which costs $9600. Jace will finance this purchase through the vendor by making
regular monthly payments over 4 years at an interest rate of 6.2%, compounded monthly. At the end of
the 4 years, the equipment will be worthless. He can also lease the equipment at a cost of $180 per
month. Both options require a down payment of $750. What is the total cost of the cheaper
option?
A. | $9390.00 | B. | $10 765.44 | C. | $10
015.44 | D. | $7890.00 |
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13.
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Given the following situation:
• the universal set U = {positive
integers less than 20}
• X = {4, 5, 6, 7, 8}
• P = {prime numbers of
U}
• O = {odd numbers of U}
Which set represents the odd, prime
numbers of set U?
A. | {0, 3, 5, 7, 11, 13, 17, 19} | B. | {3, 5, 7, 11, 13, 17, 19} | C. | {2, 3, 5, 7, 11, 13,
17, 19} | D. | {1, 2, 3, 5, 7, 11, 13, 17, 19} |
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14.
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Consider the following Venn diagram of herbivores and carnivores:  Determine H Ç C. A. | {moose, rabbit, deer, squirrel} | B. | {bear, raccoon, badger} | C. | {cougar,
wolf} | D. | {moose, rabbit, deer, squirrel, bear, raccoon, badger, cougar,
wolf} |
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15.
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Consider the following two sets:
• A = {1, 2, 3, 4, 5, 6, 7, 8,
9, 10, 11, 12}
• B = {–9, –6, –3, 0, 3, 6, 9, 12}
Determine
n(A È B).
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16.
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Some table games use a board, dice, or cards, or a combination these. The
following Venn diagram shows the number of games that use these tools.  Use
the diagram to determine n( D È B) ¢.
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17.
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Which statement is true?
A. | If the converse of a conditional statement is true, then the contrapositive of the
statement is also true, and vice versa. | B. | If the inverse of a conditional statement is
true, then the converse of the statement is also true, and vice versa. | C. | If a conditional
statement is true, then its inverse is true, and vice versa. | D. | If a conditional
statement is true, then its converse is true, and vice versa. |
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18.
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What is true about the conditional statement below?
“If a balloon is
filled with helium, then the balloon will float upwards.”
A. | The statement, converse, inverse and contrapositive are all true.
| B. | The statement and inverse are true but the converse and contrapositive are
false. | C. | The statement and contrapositive are true but the inverse and converse are
false. | D. | The inverse and contrapositive are true but the statement and converse are
false. |
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19.
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Eve can choose from the following notebooks:
• lined pages come in
red, green, blue, and purple
• graph paper comes in orange and black
How many
different colour variations can Eve choose if she needs one lined notebook and one with graph
paper?
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20.
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A combination lock opens with the correct three-digit code. Each wheel rotates
through the digits 1 to 8. How many different three-digit codes are possible?
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21.
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A restaurant offers 60 flavours of wings. How many ways can two people order two
different flavours?
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22.
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The lunch special at a diner offers you a choice of 5 sandwiches, 2 salads, 3
soups, 6 drinks, and 2 desserts. How many different meals are possible if you choose one item from
each category?
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23.
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Evaluate.  A. | 0 | B. | 1 | C. | 3 | D. |  |
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24.
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Identify the expression that is equivalent to the following:  A. |  | B. |  | C. | n2 | D. | n! |
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25.
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How many different permutations can be created when 7 people line up to buy
movie tickets?
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26.
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Suppose a word is any string of letters. How many two-letter words can you make
from the letters in LETHBRIDGE if you do not repeat any letters in the word?
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27.
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How many ways can 7 friends stand in a row for a photograph if Sheng always
stands beside his girlfriend?
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28.
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Five quarters are flipped simultaneously. How many ways can three coins land
heads and two coins land tails?
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29.
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Evaluate. 
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30.
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Suppose that 3 teachers and 6 students volunteered to be on a graduation
committee. The committee must consist of 1 teachers and 2 students. How many different
graduation committees does the principal have to choose from?
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31.
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Identify the term that best describes the following situation:
Determine the
number of pizzas with 4 different toppings from a list of 40 toppings.
A. | permutations | B. | combinations | C. | factorial | D. | none of the
above |
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32.
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How many ways can the 6 starting positions on a hockey team (1 goalie, 2
defense, 3 forwards) be filled from a team of 2 goalies, 4 defense, and 7 forwards?
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33.
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How many ways can the 6 starting positions on a hockey team (1 goalie, 2
defense, 3 forwards) be filled from a team of 2 goalies, 5 defense, and 10 forwards?
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34.
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Which expression correctly describes the theoretically probability,
P(X), where n(X) is the number of times event X occurred and
n(S) is the number of outcomes in the sample space, S, where all outcomes are
equally likely?
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35.
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A sports forecaster says that there is a 40% probability of a team winning their
next game. Determine the odds against that team winning their next game.
A. | 2 : 3 | B. | 2 : 5 | C. | 3 :
5 | D. | 3 : 2 |
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36.
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Two dice are rolled. Let A represent rolling a sum greater than 8. Let
B represent rolling a sum that is a multiple of 3. Determine P(A Ç B).
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37.
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There are 35 cards, numbered 1 to 35, in a box. Two cards are drawn, one at a
time, with replacement. Determine the probability of drawing two multiples of 10.
A. | 0.02% | B. | 0.36% | C. | 0.73% | D. | 0.99% |
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38.
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Determine the degree of this polynomial function: f( x) =  +
2 x
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39.
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The growth of a tree can be modelled by the function
h(t) =
2.3t + 0.45
where h represents the height in metres and t represents the time
in years.
Approximately how tall will the tree be in 8 years?
A. | 18.85 m | B. | 17.15 m | C. | 19.55
m | D. | 16.75 m |
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40.
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Describe the characteristics of the trend in the data.  A. | increasing | B. | decreasing | C. | constant | D. | no trend |
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41.
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Determine the equation of the quadratic regression function for the data.
x | 1 | 2 | 3 | 4 | 5 | y | 100.8 | 101.3 | 101.5 | 100.9 | 99.8 | | | | | | |
A. | y = –0.3x2 + 1.5x + 99.6 | B. | y =
–1.3x2 + 0.5x + 99.6 | C. | y =
–0.5x2 + 1.3x + 99.6 | D. | y =
–1.5x2 + 0.3x + 99.6 |
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42.
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Use quadratic regression to interpolate the value of y when x = 5.
x | 0 | 2 | 3 | 3 | 4 | 6 | 7 | 7 | y | 17.5 | 30.3 | 30.8 | 31.5 | 25.0 | 8.3 | –7.6 | –9.1 | | | | | | | | | |
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43.
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Match the following graph with its function. 
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44.
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Determine the y-intercept of the exponential function g( x)
=  . A. | 0 | B. |  | C. | 5 | D. | 10 |
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45.
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The following data set involves exponential growth. Determine the missing value
from the table. x | 0 | 1 | 2 | 3 | 4 | 5 | 6 | y | 0.16 | 0.40 | 1.00 | 2.50 | | 15.63 | 39.06 | | | | | | | | |
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46.
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Determine the equation of the exponential regression function for the data.
x | 0 | 1 | 2 | 3 | 4 | 5 | y | 3.5 | 5.6 | 9.0 | 14.2 | 23.1 | 36.7 | | | | | | | |
A. | y = 3.5(1.6)x | B. | y =
2.2(1.6)x | C. | y =
3.5(1.8)x | D. | y =
3.5(0.8)x |
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47.
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The equation of the exponential function that models a data set is
y =
6.8(1.03)x
Determine the range of this function.
A. | {y | y > 0, y Î
R} | B. | {y | y Î R} | C. | {y | y
> 6.8, y Î R} | D. | {y | y
> 1.03, y Î R} |
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48.
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Choose the best estimate for 0.1 radians in degrees.
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49.
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Determine the midline of the following function.
y = 3 sin 2(x
+ 90°) – 1
A. | y = 2 | B. | y = 3 | C. | y =
0 | D. | y = –1 |
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50.
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The following data set is sinusoidal. Determine the missing value from the
table.
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