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Material Type: Exam; Professor: Bryan; Class: Patterns, Relationships, and Number Concepts; Subject: Mathematics; University: Baylor University; Term: Fall 2009;
Typology: Exams
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Read the following directions carefully: In all problems, show all work needed and indicate your conclusions in a very clear and organized manner. Unsupported answers may not receive full credit. Please circle the numbers for the four problems that you want me to grade.
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a) How many members will there be at the end of 50 months?
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b) How many members will there be at the end of "n" months?
c) Suppose that dues are $1 per month. (New members still pay $1 for the month in which they join, even though they are not members for the whole month.) What is the total amount in dues that the club
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d) Write a general fonnula for the total amount of dues that the club will have received during the first "n" months.
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e) At some point in the future, a rich alumnus of the club donates $5,000 to the club with the following stipulations: 1) The money is to be invested in a savings account that pays 5% per year; and 2) The money is not to be touched for a period of 10 years, after which the money can be used for scholarships. How much money will be available for scholarships after the la-year period?
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