1. A problem is listed below. Identify its type. Ted owns a small florist shop. Since his business is booming, his realizes he will soon need one more delivery van. He decides he will purchase a full size van versus a minivan, which he currently owns. The van he is looking to buy in 2 years will cost him $25,000. How much should he invest each quarter into an account that pays 7% per year compounded quarterly, so that he can have the desired funds in 7 years? a) Amortization b) Present Value with compound interest Future Value with compound interest c) d) Present Value of an Annuity e) Sinking Fund None of the above. f) 2. Given the following Venn diagram, where A and B are each represented by an oval: Which regions make up ( A Bc )c? a) III and IV I, II and III b) c) II d) e) I, III and IV None of the above. f) 3. How many different license plates can be made if each license plate is to consist of 2 letters, followed by 3 digits, and no letters or digits may repeat? a) 463,000 b) 468,000 c) 467,000 d) 466,000 e) 469,000 f) None of the above 4. The company, HEWERRTT, would like to make letter codes using all of the letters in the word HEWERRTT. How many codes can be made from all the letters in this word? a) 40,320 b) 330 c) 5,040 1,331,000 d) e) 110 f) None of the above. 5. A business organization needs to make up a 5 member fundraising committee. The organization has 9 accounting majors and 7 finance majors. In how many ways can the fund-raising committee be formed if at most 1 accounting major is on the committee? a) 9 b) 21 c) 336 d) 315 e) 30 f) None of the above. 6. A hand of 13 cards is dealt from a well-shuffled standard 52-card deck of cards. What is the probability that the hand contains 3 Jacks? a) 0.091200 b) 0.061200 c) 0.051200 0.071200 d) e) 0.041200 f) None of the above. 7. A classroom of children has 11 boys and 18 girls in which five students are chosen to do presentations. What is the probability that at least four boys are chosen? a) 0.212581 b) 0.262599 c) 0.050019 d) 0.053909 e) 0.003890 f) None of the above.
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