 ## Tony wins \$560,000 (after taxes) in the lottery and decides to invest half of it in a 7-year CD that pays 5.25% interest compounded monthly.

### Algebra: complete 4 problems

INSTRUCTIONS:

1. Tony wins \$560,000 (after taxes) in the lottery and decides to invest half of it in a 7-year CD that pays 5.25% interest compounded monthly. He invests the other half in a money market fund that unfortunately turns out to average only 4.4% interest compounded annually over the 7-year period. How much money will he have altogether in the two accounts at the end of the 7-year period?
1. The average annual tuition and fees at all 4-year institutions in the US in 1982 was \$10,550 and in 2012 was \$ 26,670. Let y be the average tuition and fees in the year x, where x = 0 represents the year 1982.
• a) Write a linear equation, in slope-intercept form, that models the growth in average tuition and fees at all 4-year institutions in the US in terms of the year x.
• b) Use this equation to predict the average tuition and fees at 4-year institutions in the US in the year 2030.
• c) Explain what the slope of this line means in the context of the problem.
1. Given the following two linear equations, determine whether the lines are parallel, perpendicular, or neither. Show all work and explain your conclusion clearly.

4x - 5y = 15

5x+ 4y = 22

4. Find an equation of the line through (-1, 4), parallel to the line with equation

2x – 7y = 10. Write the new equation in point-slope form.

• Convert the equation of the new line found in problem #4 to standard form,

Ax + By = C, where A, B, and C are integers.

CONTENT:

Algebra Name Course Instructor Date Tony wins \$560,000 (after taxes) in the lottery and decides to invest half of it in a 7-year CD that pays 5.25% interest compounded monthly. He invests the other half in a money market fund that unfortunately turns out to average only 4.4% interest compounded annually over the 7-year period. How much money will he have altogether in the two accounts at the end of the 7-year perio

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