We will start this quiz around 8:30 on Thursday. You will have about an hour to solve them, which should be plenty of time if you do not make a bunch of false starts. The 4 questions on the test will be similar to the ones below. I will post the answers to these 4 practice questions on the Answer tab today.
1. Flower boxes come in various sizes. The big ones cost $5, the medium size costs $2, and the small pots cost $1. You need to buy 48 flower containers, but you only have $129 to spend. You need 3 times as many of the bigger boxes ( $5 and $2 varieties) as you need of the smaller pots. How many of each type of box do you need?
2. You are leaving the country in 7 months and will not have access to the internet. Still, you want to join a music club to download music before you go. Company A charges $75 to join, and then charges $28 per month for unlimited downloads of music or video. Company B changes $120 to join but only $22.50 for unlimited downloads. Given that you only have 7 months to use the service, which plan should you choose and why?
3. You need to ship 14,000 hats overseas. To ship a crate of 5000, it costs 1 cent per hat to ship. It costs 2 cents per hat to ship in a box of 300, and it costs 5 cents each to ship in a bag of 12. What is the minimum charge to ship the hats?
4. You have just recieved a tax refund of P dollars. You decide to invest in a 2 year CD. Bank A will give you 6.75% interest compounded quarterly. Bank B will give you 6.50% interest compounded continuously. Which bank do you choose? ( You will have the formulas on the board to choose from, but you should know which formula to use. Look in your book for the formulas now)