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Financial Algebra Advanced
Quiz 4: Automobile Ownership
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Question 21
Short Answer
Aaron just bought a used car from his cousin for $3,500.When he changes the title and gets license plates,he is required to pay sales tax on the purchase price of the car.If the sales tax rate is
%,how much sales tax does he pay?
Question 22
Essay
Guy is being transferred from his home in Cincinnati,Ohio,to Sedona,Arizona.Google Maps tells him the driving distance is 1,725 miles.Guy's research tells him that the speed limits will vary from 50 mi/hr to 75 mi/hr.If he is able to drive at a speed that is an average of these rates,how long will he be driving? Express your answer in hours and minutes.His company is paying for his moving expenses at a rate of $0.54/mile plus $50.00 per hour of driving time.How much will Guy's company pay him for moving expenses?
Question 23
Essay
Nina's car exponentially depreciates at a rate of 7% per year.If Nina bought the car when it was 6 years old for $12,000,what was the original price of the car?
Question 24
Essay
Don buys a car valued at $25,000.When the car was new,it sold for $32,000.If the car depreciates exponentially at a rate of 7% per year,about how old is the car?
Question 25
Essay
Maria works for an online auto trader.She makes a piecewise function to show the cost to place an online advertisement. โ
โ What is the cusp of the function?
Question 26
Essay
Betsy has $15,000 worth of property damage insurance and $11,000 comprehensive and collision insurance with a $1,000 deductible.She had a tire blowout while driving and crashed into another vehicle before hitting a $5,540 fire hydrant.The accident caused $13,100 of damage to her car and $25,000 worth of damage to the other vehicle.How much of the damages will Betsy have to pay?
Question 27
Essay
Gretchen has 50/100/50 liability insurance with a $500 deductible.While parked on the street,another car hits hers and then leaves the scene.There was $2,350 worth of damage.How much of the cost will her insurance pay?
Question 28
Essay
A car that Sophia wants to buy costs $21,000.She does research and finds that after 14 years the car depreciates to a value of zero.If the car depreciates in straight line form,write the straight line depreciation equation.
Question 29
Essay
At the beginning of the week,Miguel's odometer reads 87,845.At the end of the week,his odometer reads 88,033.How many miles did Miguel travel that week?
Question 30
Essay
Zach uses his car for business and must keep accurate driving records so that his company will reimburse him for car expenses.When he started his trip,the odometer read 26,645.When he returned home,the odometer read 28,017.Zach's car gets about 48 miles per gallon.If the tank was full at the beginning of the trip and it cost $62.28 to fill the tank at the end of the trip,what price did Zach pay per gallon?
Question 31
Essay
Benjamin currently pays $1,080 for his annual car insurance premium.He is in the Marines and will be deployed for the next 9 months.Since his car will be used much less,there is less risk for the insurance company and it offers him a 66% discount for his annual premium while on deployment.What is the amount he must save each month while on deployment to be able to pay for the discounted premium? When Benjamin returns,his premium will revert to the amount prior to deployment.What will his total premium for the year be?
Question 32
Essay
Djenabah has an insurance policy that requires her vehicle to be properly maintained.If she is in an accident,the insurance company will only pay if the brake efficiency is over 60%.Unfortunately,Djenabah was in an accident.She was driving at a speed of 32 mph on a road that had a drag factor of 0.81.The insurance company's investigator measured three skid mark lengths of 70 ft,72 ft,and 74 ft.Will the insurance company pay Djenabah's claim?
Question 33
Essay
How many feet and inches does a car traveling at 48 miles per hour cover in one second?
Question 34
Essay
Lawrence recently purchased a new car for $32,000.His research through Kelly Blue Book gave him a straight-line depreciation model of y = โ3,500x + 32,000.He hopes to sell the car after its value has decreased by 40%.Lawrence's car payment is $630 per month for 60 months.How many months will it take before he tries to sell his car? If he is successful in selling the car for his goal price,what will the cost of the car have been per month after he pays off his loan?
Question 35
Essay
Monte recorded the gas mileage,in miles per hour,of ten cars he is considering buying: 34,27,30,24,28,31,42,30,29,and 19.Put the data in a stem-and-leaf plot.
Question 36
Multiple Choice
Jackson bought his first car.He went to an insurance office to get car insurance.Which of these types of insurance is the minimum required by law?
Question 37
Short Answer
The Jacksons are taking a trip to Florida.Mr.Jackson knows that it is about 945 miles to their destination in Florida from their home in Ohio.He knows the average speed along his route will be 70 miles per hour.How long is the drive?