HKUST MATH1003 Calculus and Linear Algebra Midterm Exam (Version ©) Name: 8th October 2016 Student ID: 10:30-12:00 Lecture Section: Directions: © Do NOT open the exam until instructed to do so. © Please turn off all phones and pagers, and remove headphones. © Please write your name, ID number, and Tutorial Section in the space provided above. © When instructed to open the exam, please check that you have 7 pages in addition to the cover page. © Answer all questions. Show an appropriate amount of work for each problem. If you do not show enough work, you will get only partial credit. © You may use an ordinary scientific calculator, but calculators with graphical, or symbolic calculation functions are NOT allowed. © This is a closed book examination. © Cheating is a serious offense. Students caught cheating will receive a zero score for the midterm exam, and will also be subjected to further penalties imposed by the University. | Question No. | Points Out of Q. 1-10 40 Qu 10 Q.12 15 Q. 13 15 ‘Total Points 80Part I: Answer the following multiple choice questions. Put your MC question answers in the following boxes. Question] 1 | 2 | 3 [4 | 5 | Total Answer |/Q/C |} d/c/C Question] 6 | 7 | 8 10 | Total 9 Lb le} Answer For each of the following MC questions, from the choices (a)(b)(c)(d) and (e), choose exactly one correct answer. Each MC question is worth 4 points. No partial credit. 1, An online bank listed a 1-year CD that earns 1.25% compounded monthly. Find the APY as a percentage, rounded to three decimal places. (15% (b) 1.246% (©) 1.345% (@) 1.250% (©) 1.251% AW = (14 22228 ae 12 2, Some friends tell you that they paid $25,000 down on a new house and are to pay $525 per month for 30 years. If interest is 7.9% compounded monthly, what was the selling price of the house? ) $92987.25 (b) $85679.38 (c) $92349.19 (d) $85789.19 (e) $97233.92 ner 0 gag tafe S229 Me aoe anaes ore 360 a +2800 3. At the time they retire, a couple has $200,000 in an account that pays 8.4% compounded monthly. If the couple decides to withdraw $3,000 a month as long as it takes, and then make a final withdraw which may be smaller amount than $3,000 to reduce the account balance to zero. What is the amount of the last withdraw? (a) $300.56 (b) $323.38 (@ s3.27 — @) 346.60 fe) 35087 ; Cin 8367 aeowwo = Zeno [C4 MEE) n=9o,12 z 2 wet veces sect 86 a et a7 OP ‘ S087 (> Creep ES 4. A promissory note will pay $27,000 at maturity 10 years from now” How much money should you be willing to pay now if money is worth 5.5% compounded monthly? eet eea(as 2ewere = Zoc0 (a) $15748.23 (b) $1456848 —(c) $1597.23 (d) $1625.46 (ce) $1729.95 (20 SS pCi Se) eter pa iceed.rs,5. Which of the following matrices is in reduced form? 12001 Sued agte 1000 A= CO OROR IG ee =| treo aca 0100]. 00011 erent ee 0020 (a) A,B and C are all in reduced form. (b) Only A and B are in reduced form. (c)) Only B is in reduced form, (a) Both B and C are in reduced form. (e) None of them is in reduced form. 6. Which of the following matrix operations are well-defined? (Only one is correct!) r 100 12 3 100 A=[140], B=|9 7 9], C=]01 -2], D=| 205 00 7 300 Me aos Boa 3d (a) BA+C. (b) C?—3B. (©) -20+ AD. @ acp+s. (e:) BDA+10. 2 -5 0 oe raieteAt|[Neeaea ceeesd | o-[i 2] ea te in eit 40. Ga 3 0 @ eo 7 (a) [5,1]. eval @) Bt or toral[al 1 (>) [7,2] I ,f-6 15,36) 53 uel Ga Colezs Ean) 3 @ 1-3) be (©) (2.3)ete 8. For what value h the matrix | 0 2 —1 | is not invertible? 2h oO (Oe (b) h=1 @nr-2 (@ h=3 oer Teaeileae feels “DRIFR3 9 R3 fea Re a | wlth DR2AR3-* R3 casein ad cor | raya = [ype SEO U1 te ee ee © 2th -2 0 2th 2 fae peel ele Onna 9. If the matrix Gee te *=3(2th)2=0 Ss what is a2}? (a) 1 (b) 0.1 () -1 (4 ra 4qc 1 2 2-4 od) 7 2] avy Lt os if Oz 10. The economy of a country is based on two sectors, agriculture and oil. Production of a dollar's worth of agriculture requires an input of $0.40 from agriculture and $0.35 from oil. Production of a dollar's worth of oil requires an input of $0.20 from agriculture and $0.05 from oil. The final demand is $250 million for oil and $40 million for agriculture. What is the output from agriculture? A © (a) $135 million ue foe ee tA (b) $459 million ©) 8176 mittion 0:35 0.05 |O (4) $460 million a k= (I-m) D (e) $550 million = fob oe I-M= | L-0.35 06.95 4 1 ciieeetouas G1) = ———__ 0.610.95- 0.3802 a 1 oa 0,6 4o | A De teAnswer each of the following 3 long questions. Unless otherwise specified, nu- merical answers should be either exact or correct to 2 decimal places. 11. [10 pts] A person purchased a house 20 years ago by paying 20% down and signing a 30-year mortgage at 13.2% compounded monthly. Now interest rates have dropped and the owner is able to refinance the unpaid balance by signing a new 10-year mortgage at 5% compounded monthly, which reduces the original monthly payment by $500. (a) What was the original monthly payment before refinancing (ie., monthly payment for the original 30-year mortgage)? ee Pope p reeae = (50) 433.299 \ ES, le ee Te fsmie hoo wath VSCht aie =[188216. 42 |} 0.8 arr aesr (c) How much total interest will the person save by refinancing the mortgage? ® Opiginal interest = 1693, ox 360 -(509F3.3% B = New méerest = 16TF.F0 x240 + (1693. 20-500) ¥120-150923, 37 So interet saved = / tb \ WD "12. The sum of three numbers is 14. The largest is 4 times the smallest, while the sum of the largest and the smallest is the remaining number plus 8. Find the three numbers, (1). Let 1,22,23 be the largest, the middle, and the smallest numbers respectively. Write down the linear system of equations in terms of 1,222," Xi Nat Xs 1 X -4X%s =O ~ xy t2%3= 8 (2). Solve the linear system in (1) using the Gauss-Jordan elimination method. Show all steps. Cie eae Iq Vou rye 1 o-G) of TREE REPRE |g -y -5 | -y Reb) oy gly par vie PRR LG Lg o 21 |-6 le oN jer rt acs r c Hl ane BY RS t 2RUtR3—-R3 ots le 4% zu : msRa4Re Rt FH | 0 ['e Rr RIORI [' ; we ol ole ett =eeRIRI [OS da13. The rush-hour traffic flow (in vehicles per hour) for a network of four one-way streets is shown in the figure, Ast st. 2nd St Elm St oak st. (1). Write down the system of equations determined by the flow of traffic through the four inter- sections. A: KitXq = boot Zod =/300 Xi Xp = 1300 BR: b00+X = too +My x1-%2= Yoo a Xa + $00 = 300 +%q X3- %q = 7200 Di Kat x3 = 30 +400 Xe 4X3 = Foo (2), Find the solution of the system in part (1). (You may write on the back.) [oo 1) eo pao nada es fet oror | @oonl meet Ramee |toyet Olle es © 0 (+t {-200 OvOnlaglalseee o 1 10! Feo o | 10] Zoo 10 © 1/1300] {0 © 1/ B00 RIP RE cakes o ( ot | te | -R2RHPE! 01 | oO sae © 0 tI] -2ve oO 0 Int | -200 © 1 1 0| 00 © Ot -l|-206 x,=-t+Rod 20 T{ oo [| B00 fe at te aaa : si lahat Ret teil pao) 1 xr4xe 900 Koo numincieg Votes 0 o 1-1} 20 [ x3-%4 =-200 l Xa= t-200 20 Oneme oH Xqibce ve:(3). What is the maximum number of vehicles per hour that can travel from Oak Street to Ehn Street on 1st Street? What is the minimum number? Conhnne So £1300 + € Joo + 2200 +20 we hye 200% SI00 (%) | The question yo Xy = €- fhe min v9 200, the max 4 Joo, *«* END OF PAPER ***