At a local bank, certificates of deposit (CDs) mature every 9 months. At another bank, CDs mature every 12 months. If CDs are purchased on the same day at each bank and are renewed when they mature, what is the least number of months that will pass before the two banks' CDs are mature at the same time?
- A. 72
- B. 36
- C. 108
- D. 3
Correct Answer & Rationale
Correct Answer: B
To find when the CDs from both banks mature simultaneously, we need to determine the least common multiple (LCM) of their maturity periods: 9 months and 12 months. Calculating the LCM, we see that the multiples of 9 are 9, 18, 27, 36, 45, 54, 63, 72, and 81. The multiples of 12 are 12, 24, 36, 48, 60, 72, and 84. The smallest common multiple is 36 months. Option A (72) is incorrect as it’s not the smallest shared maturity. Option C (108) is also incorrect; it exceeds the LCM. Option D (3) is far too short, as it does not accommodate either maturity period. Thus, 36 months is the earliest point both CDs will mature together.
To find when the CDs from both banks mature simultaneously, we need to determine the least common multiple (LCM) of their maturity periods: 9 months and 12 months. Calculating the LCM, we see that the multiples of 9 are 9, 18, 27, 36, 45, 54, 63, 72, and 81. The multiples of 12 are 12, 24, 36, 48, 60, 72, and 84. The smallest common multiple is 36 months. Option A (72) is incorrect as it’s not the smallest shared maturity. Option C (108) is also incorrect; it exceeds the LCM. Option D (3) is far too short, as it does not accommodate either maturity period. Thus, 36 months is the earliest point both CDs will mature together.
Other Related Questions
Lisa is decorating her office with two fully stocked aquariums. She saw an advertisement for Jorge's pet store in the newspaper. Jorge's store sells fish for aquariums. The table shows the fish Lisa buys from Jorge's pet store.
Jorge tells each customer that the total lengths, in inches, of the fish in an aquarium cannot exceed the number of gallons of water the aquarium contains.
The newspaper advertisement for Jorge's pet store has an illustration of a gold barb.
The illustration is not the same length as the actual gold barb. What was the scale factor used to create the illustration?
- A. 0.75
- B. 1.25
- C. 1.75
- D. 1.75
Correct Answer & Rationale
Correct Answer: B
To determine the scale factor used in the illustration of the gold barb, we compare the actual length of the fish to the length shown in the advertisement. A scale factor greater than 1 indicates that the illustration is larger than the actual fish, while a scale factor less than 1 means it is smaller. Option A (0.75) suggests the illustration is smaller, which contradicts the premise. Option C (1.75) and D (1.75) both imply a larger size, but only one option can be correct. The scale factor of 1.25 accurately represents a reasonable enlargement of the fish, aligning with common advertising practices. Thus, it correctly reflects the relationship between the illustration and the actual size of the gold barb.
To determine the scale factor used in the illustration of the gold barb, we compare the actual length of the fish to the length shown in the advertisement. A scale factor greater than 1 indicates that the illustration is larger than the actual fish, while a scale factor less than 1 means it is smaller. Option A (0.75) suggests the illustration is smaller, which contradicts the premise. Option C (1.75) and D (1.75) both imply a larger size, but only one option can be correct. The scale factor of 1.25 accurately represents a reasonable enlargement of the fish, aligning with common advertising practices. Thus, it correctly reflects the relationship between the illustration and the actual size of the gold barb.
Acceleration, a, in meters per second squared (m/s^2), is found by the formula a = (V2 - V1)/t where V1, is the beginning velocity, V2 is the end velocity, and t is time. What is the acceleration, in m/s^2, of an object with a beginning velocity of 14 m/s and end velocity of 8 m/s over a time of 4 seconds?
- A. 1.5
- B. -1.5
- C. 4.5
- D. -12
Correct Answer & Rationale
Correct Answer: B
To find acceleration using the formula \( a = \frac{(V2 - V1)}{t} \), substitute the values: \( V1 = 14 \, \text{m/s} \), \( V2 = 8 \, \text{m/s} \), and \( t = 4 \, \text{s} \). This results in \( a = \frac{(8 - 14)}{4} = \frac{-6}{4} = -1.5 \, \text{m/s}^2 \). Option A (1.5) is incorrect as it does not account for the decrease in velocity. Option C (4.5) miscalculates the difference and time. Option D (-12) incorrectly computes the acceleration by misapplying the formula or misinterpreting the values. Thus, the only accurate calculation reflects a deceleration, resulting in -1.5 m/s².
To find acceleration using the formula \( a = \frac{(V2 - V1)}{t} \), substitute the values: \( V1 = 14 \, \text{m/s} \), \( V2 = 8 \, \text{m/s} \), and \( t = 4 \, \text{s} \). This results in \( a = \frac{(8 - 14)}{4} = \frac{-6}{4} = -1.5 \, \text{m/s}^2 \). Option A (1.5) is incorrect as it does not account for the decrease in velocity. Option C (4.5) miscalculates the difference and time. Option D (-12) incorrectly computes the acceleration by misapplying the formula or misinterpreting the values. Thus, the only accurate calculation reflects a deceleration, resulting in -1.5 m/s².
How many more tickets did Larry buy than Jim?
- A. 3
- B. 12
- C. 6
- D. 1
Correct Answer & Rationale
Correct Answer: C
To determine how many more tickets Larry bought than Jim, we need to compare their ticket purchases. If Larry bought 9 tickets and Jim bought 3, the difference is 9 - 3 = 6. Option A (3) is incorrect because it underestimates the difference. Option B (12) is too high, suggesting Larry bought significantly more than he actually did. Option D (1) also miscalculates the difference, indicating a minimal discrepancy. Thus, the accurate difference of 6 aligns with option C, reflecting the true number of tickets Larry purchased over Jim.
To determine how many more tickets Larry bought than Jim, we need to compare their ticket purchases. If Larry bought 9 tickets and Jim bought 3, the difference is 9 - 3 = 6. Option A (3) is incorrect because it underestimates the difference. Option B (12) is too high, suggesting Larry bought significantly more than he actually did. Option D (1) also miscalculates the difference, indicating a minimal discrepancy. Thus, the accurate difference of 6 aligns with option C, reflecting the true number of tickets Larry purchased over Jim.
The owner of a small cookie shop is examining the shop's revenue and costs to see how she can increase profits. Currently, the shop has expenses of $41.26 and $0.19 per cookie.
The shop's revenue and profit depend on the sales price of the cookies. The daily revenue is given in the graph below, where x is the sales price of the cookies and y is the expected revenue at that price.
The owner has decided to take out a loan to purchase updated equipment. A bank has agreed to loan the owner $2,000 for the purchase of the equipment at a simple interest rate of 4.69% payable annually.
To the nearest dollar, what is the total amount the shop owner will pay on the loan over the 3 years?
- A. $2,028
- B. $2,276
- C. $2,760
- D. $2,092
Correct Answer & Rationale
Correct Answer: B
To calculate the total amount paid on a loan, the formula for simple interest is used: Total Payment = Principal + (Principal × Rate × Time). For a $2,000 loan at 4.69% interest over 3 years, the interest is calculated as $2,000 × 0.0469 × 3 = $280.40. Adding this to the principal gives a total of $2,280.40, which rounds to $2,276. Option A ($2,028) underestimates the interest accrued. Option C ($2,760) incorrectly assumes a higher interest rate or longer term. Option D ($2,092) miscalculates the total by not accounting for the full interest over 3 years.
To calculate the total amount paid on a loan, the formula for simple interest is used: Total Payment = Principal + (Principal × Rate × Time). For a $2,000 loan at 4.69% interest over 3 years, the interest is calculated as $2,000 × 0.0469 × 3 = $280.40. Adding this to the principal gives a total of $2,280.40, which rounds to $2,276. Option A ($2,028) underestimates the interest accrued. Option C ($2,760) incorrectly assumes a higher interest rate or longer term. Option D ($2,092) miscalculates the total by not accounting for the full interest over 3 years.