Math For Social Sciences. Practice Exam

1. Use the elimination method to solve each of the following systems:

   • 

   • 

2. Let , , and .
   • Give the dimensions of each matrix, and identify any square, column, or row matrices.
   • Find the following if possible:
     • 2AD.
     • BC.
     • CA.
3. Use the Gauss Jordan method to solve the following system:

   

4. Use the method of matrix inverses to solve the following system:

   

5. A 45-year-old man puts $1,000 in a retirement account at the beginning of each quarter until he reaches the age of 60 and makes no further deposits. If the account pays 11% interest compounded quarterly, how much will be in the account when the man reaches age 60?
6. A speculator agrees to pay $15,999 for a parcel of land; this amount, with interest, will be paid over 4 yr, with semiannual payments, at an interest rate of 10% compounded semiannually. Find the amount of each payment.

Formulas

• Future value for simple interest:

  

• Future value for compound interest:

  

• Future value of an ordinary annuity:

  

• Future value of an annuity due:

  

• Present value of an annuity:

  

• Amortizing a loan:

  

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Tue Aug 12 21:45:49 MDT 1997

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