Saving for retirement.

1) Use google to search for a car you own or would like to own and “Cost”. Write down the car and MSRP (this
is the cost of the car).
a) You’ve been offered a 5 year loan at 3% for this vehicle. Use the cost you googled to find your monthly
payments.
b) How much total money will you pay?
c) How much will you pay in interest?
2) Use information from #1 to determine how much you will owe on the car after 3 years?
3) Jerome is saving for retirement. He deposits $350 monthly into an account that pays 5.5% interest,
compounded monthly.
a) If he makes these deposits for 25 years, what will be the value of the account when he retires?
b) How much interest did he earn?
4) Katie is starting a fund for her son’s college education. What lump sum must she deposit now in an account
that gives 5% annual interest rate, compounded quarterly, in order for her to have $60,000 in the fund at the
end of 15 years?
5) Consider the weights of 9 cats, in pounds. 8.5, 9, 9.5, 10, 10, 11, 12, 12, 18
a) Find the 5 number summary (show all work)
b) Create a box plot (by hand)
6) Consider the data set below:
0 4 3 1 5 4 2 4 4 5 4
3 4 4 2 5 5 9 3 5 4 3
a) Create a frequency table
b) Create a histogram (by hand)
c) What percentage are at least 5?
7) The length of snakes is normally distributed with a mean of 40 inches and a standard deviation of 5 inches.
Estimate each of the following quantities. Show a sketch of the normal curve.
a) What percent of snakes are longer than 40 inches?
b) What percent of snakes are shorter than 35 inches?
c) What percent of snakes are between 35 and 45 inches?
d) What percent of snakes are between 30 and 40 inches?