MAT 105 FINAL MILESTONE (Strayer University)

23 questions were answered correctly. 2 questions were answered incorrectly. 1 Chen randomly draws a card from a deck. The odds in favor of his drawing a blue card are 1:8. What is the probability that Chen will draw a blue card?     RATIONALE Recall that we can go from odds to a probability by rewriting it as the fraction . So, if the odds are 1:8, then the probability is . CONCEPT Calculating Odds 2 Billy plans to invest $18,000 in a CD that compounds 1.5% monthly. He must keep his money in the CD for 10 years. How much money will he have when the investment ends?  $22,022.74  $21,632.49  $19,629.83  $20,911.06 RATIONALE To find the answer, use the formula for compound interest. First, convert the interest rate to a decimal. Place the numbers into the compound interest formula. Follow the order of operations (PEMDAS) to calculate the total, beginning with the parentheses. Next, calculate the exponent. Solution. CONCEPT Compound Interest 3 Janelle is reviewing her budget for her child’s school lunches. This month, she has spent $35 total, with $15 going to groceries for homemade lunches. If school lunches cost $2 each, determine how many school lunches her child purchased this month by solving for x in the following equation: