Mat133y TT1 2012F PDF

MCS @UTM
MAT 133Y Term Test #1 Version A

October 19, 2012, 4pm

_______________________________ ________________________ ________________________
Last Name (Family name) First Name (Given name) Student #

Tutorial Information:
Students are expected to have this tutorial information when writing the test.
Your tutorial information is as posted in your My Grades, in the Tutorial Information entry.
WARNING: 2 marks will be deducted from the test grade for missing or incorrect tutorial information.

INSTRUCTIONS
1. Use a PEN to fill in your name and student number on each sheet.
2. Only TI-30X, TI-30XIIB or TI-30XIIS calculators are allowed (with no lids or inserts).
NO other aids are allowed.
3. The time allotted is 110 minutes.
4. PART I: For each question A to J, clearly indicate your final short answer in the appropriate BOX provided. In all cases,
you must show your work, even though only the final answer in the box will be graded.
[30 marks, 3 marks for each box, with NO part marks for incorrect final answers or answers with NO work shown.]
5. PART II: For each question 1 to 5, you are required to show all your work. A correct answer obtained with
false reasoning or with no reasoning will not receive any marks.
6. There are 13 pages, including a formula sheet on page 13. Make sure you have all of them.
7. Budget your time. Good Luck!

Question # Out of Score
Part I 30

Part II #1 10

Part II #2 15

Part II #3 15

Part II #4 15

Part II #5 15

Total 100

CIRCLE
your TAs Name
Amir Dave Dongping Eric John Nicole Qitan Stephanie
Tutorial day/time
CIRCLE
the appropriate one
Mon. 2
Mon. 3
Mon. 4
Wed.12

Mon. 9
Mon.12
Mon. 1

Mon. 9
Wed. 9
Wed.12

Tues.12
Tues.1
Wed. 9

Tues. 9
Tues.10
Tues.11

Tues.12
Wed. 6

Wed.3
Wed.4
Wed.5

Mon.5

MAT133-OCT-2012Term Test 1-Version A Page 2 of 13
PART I: For each question A to J, clearly indicate your final short answer in the appropriate BOX provided. In all cases, you
must show your work, even though only the final answer in the box will be graded.

A. If, initially, there are 6,500 bacteria in a culture and the number of bacteria after t hours can be found by the
formula 6500(2 )
t
N = . When will the number of bacteria in the culture reach 90,000?
Give your answer rounded to 1 decimal.

Answer for A:

B. A debt of $12,000, which is due 10 years from now, is instead to be paid off by four payments: $3,000 now,
$2,000 in 3 years, $2,000 in 6 years, and a final payment at the end of 8 years. What would this payment be if an
interest rate of 5.5% compounded semiannually is assumed?
Do not round until the final answer. Then give your answer rounded to the nearest dollar.

Answer for B:

Continued on page 3

t =

This final payment will be:

$

PART I (continued): For each question A to J, clearly indicate your final short answer in the appropriate BOX provided. In all
cases, you must show your work, even though only the final answer in the box will be graded.

C. When you were born, a trust fund was established by putting $18,000 in the account. The trust fund will have
accumulated to $72,000 by the time you turn 30 years old. What is the effective annual compound interest rate for
this account? Give your answer as a % rounded to 2 decimals. For example 7.36%.

Answer for C:

D. If you buy a widget from the manufacturer for $2,100 and agree to repay it in 24 equal installments (payments)
with interest applied at 1.3% per month on the unpaid balance. How much are your monthly payments?
Do not round until the final answer. Then give your answer rounded to the nearest cent (2 decimals).

Answer for D:

Continued on page 4

Your monthly payments are:

$

The nominal rate will be:

NAME: ________________________ STUDENT NUMBER: ___________________

PART I (continued): For each question A to J, clearly indicate your final short answer in the appropriate BOX provided. In
all cases, you must show your work, even though only the final answer in the box will be graded.

E. Miguel has the opportunity to invest $3000 in a friends business, such that he will be repaid $4500 in six years. If
he instead wanted to put the $3000 into a savings account, what interest rate compounded continuously would be
needed so he gets $4500 in six years? Give your answer as a % rounded to 3 decimals. For example 7.362%.

Answer for E:

F. Suppose a person invests $20,000 in a business venture that guarantees the same cash flow at the end of each
quarter for 4 years. If the investment earns interest at APR of 4% compounded quarterly, how much will each cash
flow amount be? Give your answer rounded to the nearest cent (2 decimals).

Answer for F:

Continued on page 5
Each cash flow will be:

$
The interest rate, compounded continuously
will be:


PART I (continued): For each question A to J, clearly indicate your final short answer in the appropriate BOX provided. In all
cases, you must show your work, even though only the final answer in the box will be graded.

G. If
2 0 1
0 3 2
A
(
=
(

,
2 0 1
1 2 3
B
(
=
(

,
1 2
0 1
C
(
=
(

,
2 1
1 0
D
(
=
(

, and
2 1
3 0
1 2
E
(
(
=
(
(

calculate 2 AE C . If it does not exist, indicate that it does not.

Answer for G:

H. If
2 0 1
0 3 2
A
(
=
(

,
2 0 1
1 2 3
B
(
=
(

,
1 2
0 1
C
(
=
(

,
2 1
1 0
D
(
=
(

, and
2 1
3 0
1 2
E
(
(
=
(
(

Calculate
( )
2
T
Q CD = . What is the value of
12
Q ?

Answer for H:

Continued on page 6

12
Q =

2 AE C =

PART I (continued): For each question A to J, clearly indicate your final short answer in the appropriate BOX provided. In
all cases, you must show your work, even though only the final answer in the box will be graded.

I. Find all possible values of x that satisfy the following matrix equation:

1 2 1 3 4
2 3 3
x
y x y
( ( (
=
( ( (

If a solution does not exist, indicate that it does not.

Answer for I:

J. Given the following 6 matrices, determine how many are NOT row reduced
[ ]
1
0 0 0 0 1 0 2 3 1 1 2 3 1 0 1 0 0 1 0 0
, , , , , 1 2 3 , 2
0 1 0 0 0 1 1 1 0 1 1 1 0 2 0 1 1 0 0 0
3
(
( ( ( ( (
(
( ( ( ( (
(

(

Answer for J:

Continued on page 7

x =


PART II: For each question 1 to 5, you are required to show all your work. A correct answer obtained with false reasoning
or with no reasoning will not receive any marks. [a total of 70 marks]

Question 1: [10 marks]

You were awarded compensation for an accident you were in. The insurance company gives you two options to pay you off:
Option 1: They will give you $1,000 now followed by $500 at the end of each 6 months, for 5 years.
Option 2: They will give you a lump sum of $5,500 now.
Given that money earns 8% compounded semi-annually, which of these 2 Options is the best value for you? Justify your
answer. Round any dollar amounts to the nearest cent (2 decimals).

Answer to Question 1: Write a concluding sentence in the box provided below!
Round any dollar amounts to the nearest cent (2 decimals).

Continued on page 8
PART II: For each question 1 to 5, you are required to show all your work. A correct answer obtained with false
reasoning or with no reasoning will not receive any marks. [a total of 70 marks]


The Smiths amortize a loan of $150,000 for a new boat, by obtaining a 15 year mortgage at the rate of 5.2% compounded
monthly. Find:
a) The monthly payment [5 marks]
b) The total interest charges (the finance charges) [5 marks]
c) The principal remaining after 10 years. [5 marks]
Give your answer rounded to the nearest cent (2 decimals).

Answers to Question 2: Give your answer rounded to the nearest cent (2 decimals).

a) The monthly payment is:

b) The total interest charges (the finance charges) are:

c) The principal remaining after 10 years is:

Continued on page 9



Suppose you establish a sinking fund by putting $200 into an account now, followed by monthly payments into the account as
follows:
- $50 at the end of each month for 6 years.
- followed by $150 at the end of each month for 8 more years.

Given that the APR is 6% compounded monthly, how much will the accumulated amount be in 14 years?
Round your final answers to the nearest dollar.

Answer to Question 3: Write a concluding sentence in the box provided below!
Round your final answers to the nearest dollar.

Continued on page 10



The augmented coefficient matrix representing a system of linear equations with 4 variables, x, y, z, and w is:

0 0 1 2 1
1 2 1 11
(
(

a) Is this matrix in row reduced form? If yes state that it is so. If not, row reduce it, clearly indicating your steps and write
the reduced matrix in the box provided below.

Answer to Question 4a: [8 marks]

b) Write all solutions to the corresponding linear system of equations. If the system has no solutions indicate that it has no
solutions.

Answer to Question 4b: [7 marks]


x
y
z
w
(
(
(
=
(
(



Consider the following linear system of equations
1
2 1
2
x z
x y z
x y az c
+ =
+ + =
+ =
, where a and c are constants.

[1 marks] Answer to 5a: [2 marks] Answer to 5b:

Based on the fact that
1 0 1 1
0 1 -1 1
0 0 3 3 a c
(
(
(
(
+

is equivalent to the augmented coefficient matrix for the given linear
system of equations, answer the following 4 parts.

c) How many solutions will the given system have, if 3 a = and 3 c = ?
List all the solutions, or indicate that there are no solutions if that is the case.
[3 marks] Answer to 5c:

a) Write the system in the form AX B = ,
where A, B, and X are matrices.

b) Write the corresponding augmented coefficient
matrix here:

Question 5: (continued)

d) How many solutions will the given system have, if 3 a = and 3 c ?

[3 marks] Answer to 5d:

e) How many solutions will the given system have, if 3 a ?

[3 marks] Answer to 5e:

f) If you were asked to find the inverse of the coefficient matrix A, when 6 a = , would it exist? Explain why, or why not.
DO NOT find
1
A
. [3 marks] Answer to 5f:

THE END


Note: Make sure BOTH your full name and student number, are clearly filled out in INK, if you wish to detach this page.

Some facts that may be useful:

For discrete periodic compounding with periodic rate r (where r is the APR divided by the number of interest periods in one
year):
(1 )
n
S P r = + is the compound amount when a principal amount P is invested for n periods at a periodic rate of r.
(1 )
n
P S r

= + is the present value (or principal amount) that needs to be invested at the periodic rate of r for n
interest periods so that the compound amount is S.
The effective rate re that is equivalent to an APR (a nominal rate) compounded n times a year is given by:
1 1
n
e
APR
r
n
| |
= +
|
\

For continuous compounding:
rt
S Pe = is the compound amount S of a principal amount P after t years at an annual interest rate r compounded
continuously.
rt
P Se
= is the present value P of a compound amount S due at the end of t years at an annual interest rate r compounded
continuously.
The effective rate re corresponding to an annual rate of r compounded continuously is 1
r
e
r e =

Annuities:

1 (1 )
n
r
A R
r
+
= is the present value of an
ordinary annuity

(1 ) 1
n
r
S R
r
+
= is the future value of an
ordinary annuity

1
1 (1 )
1
n
r
A R
r
+
( +
= +
(

is the present value
of an annuity due

1
(1 ) 1
1
n
r
S R
r
+
( +
=
(

is the future value of
an annuity due)

A = Present value of an annuity
S = amount (future value) of an annuity
R = amount of each payment
n = number of payments
r = periodic rate of interest
*************************************
For an annuity with regular annual payments
of R, with an APR of r, compounded
continuously, we have the present value A as:

1
rt
e
A R
r
(
=
(

, where t is the # of years.

For a LOAN amortized over n periods at a periodic rate r, we have:

Principal outstanding at beginning of period k:

Ak =
( )
1
1 1
n k
r
R
r
+
+

The interest portion of the kth payment is:

Akr = R
( )
1
1 1
n k
r
+
(

+

The principal contained in the payment of the kth period is:

R - R
( )
1
1 1
n k
r
+
(

+ =
( )
1
1
n k
R r
+
+

Total finance charges (interest paid): nR - A

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MCS @UTM

MAT 133Y Term Test #1 Version A

, where a and c are constants.

. [3 marks] Answer to 5f:

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