# Math 1501

## Dec 2, 1999

Last quiz

Tom Morley

Name: ____________________________

*Don't Panic*

### Open Book and Notes. You have 30 minutes. Carefully explain your proceedures and answers

### Problem 1 (10 points)

**A bucket of water is to be raised from the bottom of a 40 foot well. When the bucket is full, it weighs 60 pounds. However, as it is raised, the water leaks out at a rate**

of 1/2 gallon per 10 feet that the bucket is raised. (1 gallon is 8.3 pounds).

The rope is 2 pounds per foot. How much work is done raising the bucket

to the top?

##### Calculations

### Problem 2 (6 Points)

Starting with $80,000, how much money do you have after 6 years if the interest rate of 7%

is a) Compounded yearly

b) Compounded monthly

c) Continuously compounded

##### Calculations

### Problem 3 (12 points)

#### Ans

##### Ans

#### c)

##### Ans