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Midterm1 Fall 2014 (A)

midterm

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17 views8 pages

Midterm1 Fall 2014 (A)

midterm

Uploaded by

Kelvin Cheung
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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HKUST

MATH1003 Calculus and Linear Algebra

Midterm Examination (Version A) Name:

11 October 2014 Student ID:

11:00am-12:00pm Lecture Section:

Seat Number:

Directions:

• Turn off all electronic devices such as phones, pagers, laptops and remove headphones.
• This is a closed book examination. Close all books and notes. Only your student ID,
calculator, pens and pencils etc. shall be on the desk.
• Write your name, ID number, Lecture Section on the first page.
• There are 5 MC questions and 2 long questions in the exam.
• The last two pages serve as scratch papers. You may remove and do not turn in.
• Answer all questions. Show an appropriate amount of work for the 2 long questions if you
wish to receive partial credits when you make mistake.
• Cheating, either offering help to or getting help from other students, is a serious
offense. Students caught cheating will receive zero score for the exam, and will
also be subjected to further penalties imposed by the University.

Question No. Points Out of

Q. 1-5 50
Q. 6 25
Q. 7 25
Total Points 100
1

Part I: Multiple Choice Questions.

Each of the following MC questions is worth 10 points, for a total of 50 points. No partial
credit. Put your MC question answers in the following table.

Question 1 2 3 4 5 Total
Answer

1. Solve the system of linear equations



 x − 2y + 2z = 3
3x − 7y + 5z = 4
2x − 4y + 5z = 9

We find z =?

(a) z = 1
(b) z = 2
(c) z = 3
(d) z = 0
(e) None of the above

2. A note will pay $15,000 at maturity 5 years from now. How much should you be willing to pay for
the note now if money is worth 5.2% compounded quarterly?

(a) $13,640.6 (b) $13,257.8 (c) $12,305.7 (d) $11,585.2 (e) $10,650.2
2

 
2 −5 0  
 −1 3 −4  4 −6
3. A =  , B =  7 1  . Find the entries in the third row of AB.
 0 1 −2 
3 2
−3 0 9

(a) [5, 1].


(b) [7, 2]
(c) [15, 36]
(d) [1, −3]
(e) [2, 3]

4. How many days will it take money to double if it is invested at 7.5% compounded daily? (Use a
365-day year.)

(a) 9.24 (b) 3200 (c) 3374 (d) 10.53 (e) 3650

5. What is the equation of the tangent line of the curve


√
2 x − 3x
y=
x2
at the point x = 1?

(a) x + 2y + 1 = 0
(b) y + 1 = 0
(c) x − 2y − 3 = 0
(d) 3x − 2y − 5 = 0
(e) None of the above
3

Part II: Answer each of the following 2 long questions. Unless otherwise specified, numer-
ical answers should be either exact or correct to 2 decimal places. Write all steps.

6. [25 pts] A person purchased a $250,000 home 10 years ago by paying 20% down and signing a
30-year mortgage at 12% compounded monthly.

(a) Find the monthly payment for the mortgage.

(b) Find the unpaid balance of the mortgage now (or how much does he still owe to the bank).

(c) How much interest has he paid to the bank so far?


4

(d) Now the owner got a deal from a bank: he paid down 20% of the unpaid balance, and signed
a new 20-year mortgage at 8% compounded monthly. What is the monthly payment for the
new mortgage?

(e) With refinancing, what is the total interest the person will pay during the next 20-year period ?
5

7. [25 pts] An economy is based on two sectors, energy (E) and water (W). To produce one dollar’s
worth of E requires 0.6 dollar’s worth of E and 0.1 dollar’s worth of W, and to produce one dollar’s
worth of W requires 0.2 dollar’s worth of E and 0.7 dollar’s worth of W.

(a) Find the technology matrix M for the economy.

(b) Find the total output for each sector that is needed to satisfy a final demand of $40 billion for
energy and $30 billion for water.

(c) Find the final demand for each sector if the total output of energy is $60 billion and the total
output of water is $70 billion.
6
7

*** END OF PAPER ***

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