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Test Formulas: Financial Formulas.jpg Directions: Identify the appropriate formula, define each variable, and show all steps of your work to solve the following question. Part a)  Ydhalia wants to have $550,000 for retirement in 35 years. Her account earns 2.5% interest. How much would Ydhalia need to deposit in the account each week? Part b) How much interest would Ydhalia earn?

A box contains 5 reds, 3 white, and 4 blue marbles.  If 2 marbles are drawn at random without replacement: Part a) Draw a probability tree and label the appropriate probabilities. Part b) Determine the probability that both marbles drawn are blue?Part c) Determine the probability that the first marble drawn is red given the second marble drawn is white?

classicplayingcards.png If you select a card at random, what is the probability of getting: Part a) a face card   Part b) a heart or a seven

A contractor can order lumber from 5 suppliers, brick from 3 suppliers, and hardware from 9 suppliers.  How many different choices of suppliers can be made if one supplier per category is chosen?

If there are nineteen people competing in a bike race, how many finishes among the first two places are possible?

Which is true about the Modern Bureaucracy?

The United States spends more on military spending than any other country.

Who famously referred to the administrative state as a “fourth branch of government” ?

The three major domestic policy areas are: 

Using the cost function, C(x)=2000+8x-0.4×2, where C(x) is the cost of producing x units:Part a) Determine the average cost function when x units are made. Use the formula: C(x)¯=C(x)x Simplify your answer.Part b) What is the average cost per unit when 40 units are made?