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