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# Liberty MATH 114 Homework 1 Answers Complete Solutions

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### Question 1

In the following situation, state whether two variables are related in a way that might be described by a function. If so, identify the independent and dependent variables.

You jump from an airplane left parenthesis with a parachute right parenthesisjump from an airplane (with a parachute) and want to know how far you have traveledwant to know how far you have traveled at various times during your descent.at various times during your descent.

Determine whether the two variables are related in a way that might be described by a function. If the situation could be described as a function, then identify the independent and dependent variables.

### Question 2

You are a music store owner and want to know how the demand for CDs left parenthesis the number that you can sell right parenthesis depends on the price you charge per CD.

You are purchasing a new car and want to know how the money spent on gas depends on the car’s MPG.

You run an electronic store and want to know how the quantity of TVs you sell depends on the price you charge per TV. Nothing

### Question 3

Find the monthly interest payment in the situation described below. Assume that the monthly interest rate is 1 divided by 12 of the annual interest rate.

You maintain an average balance of $1500 on your credit card, which carries a 12% annual interest rate.

### Question 4

Find the monthly interest payment in the situation below. Assume that monthly interest rates are 1/12 of annual interest rates.

Vic bought a new plasma TV for $2400. He made a down payment of $200 and then financed the balance through the store. Unfortunately, he was unable to make the first monthly payment and now pays 5% interest per month on the balance (while he watches his TV).

What is Vic’s monthly interest payment?

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### Question 5

Prorate the following expenses and find the corresponding monthly expense.

Lan pays a semiannual premium of $600 for automobile insurance, a monthly premium of $155 for health insurance, and an annual premium of $400 for life insurance.

The monthly expense is $

### Question 6

In filing his income tax, Raul reported annual contributions of $450 to a public radio station, $180 to a public radio station, $200 to a local food bank, and $291 to other charitable organizations.

The monthly expense is $

### Question 7

An individual borrowed $74000 at an APR of 5%, which will be paid off with monthly payments of $442 for 24 years.

a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount.

b. How many total payments does the loan require? What is the total amount paid over the full term of the loan?

### Question 15

The salary of members of two governing bodies in 2008 was $164.8 thousand, and has increased by approximately $2 thousand per year since then.

(a) Complete the following table to help find an expression that stands for the salary (in thousands of dollars) of members of the two governing bodies t years since 2008.

(b) Evaluate the expression that is found in part (a) for t equals 5. What does your result mean in this situation?

AND so on to question 44