Math 1320 Name:D. WilsonExam #2DFriday, October 24, 2008Show all work for partial credit. Good luck!#1 /12#2 /20#3 /20#4 /26#5 /22Total /100You have Exam # .If I do not receive this exam by the end of class, you will receive ascore of zero.1. (12 points) A check-cashing company charges a $30 fee to cash a personal post-dated checkfor $750. If the fee is viewed as simple interest on a one-month loan, what is the annualinterest rate? Write the answer as a percentage.2. (a) (10 points) Find the present value of an investment that will be worth $45,000 in 8years, if interest is compounded every 2 months, at a rate of 7.2% per year.(b) (10 points) Eight years ago, a real estate investment was worth $188,000. The invest-ment steadily lost value at a rate of 0.3% per month. What is the investment worthtoday?3. Halle just graduated from college and has landed a full-time job. When she retires, shewould like her retirement account to pay her $5,000 per month, for 15 years. Her retirementfund earns 6% compounded monthly.(a) (10 points) Determine the amount that Halle must have in her retirement fund onthe day she retires.(b) (10 points) In order to save up for her retirement, Halle and her employer will makemonthly deposits into her fund. If Halle is planning to work for 25 years, whatmonthly deposit must she and her employer sink into her retirement fund? Assumethat the fund earns 6% annually, compounded monthly.4. (a) PART I (6 points each) Solve for x. Round the answer to four decimal places.• 56−2x+ 15 = 100• 3 ln(9x + 7) + 18 = 21(b) PART II A biology lab begins an experiment with 4000 bacteria in a Petri dish. Infive hours, there are 9500 bacteria.• (10 points) Find the exponential model that gives the number of bacteria in thours.y = Abt• (4 points) How many bacteria will b e in the dish after 1 day? Round the answerto the nearest bacteria, and include the units in your answer.5. PART II Jerry invests a total of $80,000 into three savings accounts. Account #1 earns5.2% annual interest; Account #2 earns 8% annual interest; and Account #3 earns 7%annual interest. Jerry will earn a total of $5,540 in interest after one year. If he invested$10,000 more into the second account than into the first, how much did he invest in eachaccount?(a) (6 points) Clearly define the variables.(b) (12 points) Set up the system of equations.(c) (4 points) Solve the system. You may use a graphing