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IBDP Mathematics Applications and Interpretation SL – Year 11

Unit Test – Loan, Annuities, Amortization, Simultaneous Equations

and Polynomials

Wednesday, November 6, 2019

50 minutes

Name:_________________________

INSTRUCTIONS TO CANDIDATES

 Do not open this examination paper until instructed to do so.

 A graphic display calculator is required for this paper.
 Answer all questions.
 Answers must be written in the spaces provided.
 Unless otherwise stated in the question, all numerical answers should be given exactly or correct to
three significant figures.
 A clean copy of the Mathematics: Applications and Interpretation formula booklet is required
for this paper.
 The maximum mark for this examination paper is [55 marks].

Overall grade boundaries

Grade 1 2 3 4 5 6 7

Mark range 0 - 15 16 – 31 32 – 44 45 - 56 57 – 68 69 – 80 81 - 100

(Teacher’s Signature)
Full marks are not necessarily awarded for a correct answer with no working. Answers must be supported
by working and/or explanations. Solutions found from a graphic display calculator should be supported by
suitable working. For example, if graphs are used to find a solution, you should sketch these as part of your
answer. Where an answer is incorrect, some marks may be given for a correct method, provided this is
shown by written working. You are therefore advised to show all working.

1. [Maximum mark: 4]
Bejo is left an annuity of US $4000 in his uncle’s will. The annuity is for five years at 4%
per annum and is to be paid out monthly. Find the monthly payments.
(Note: Write all the information clearly)

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2. [Maximum mark: 4]
Nathalie borrows € 6500 for a motorcycle. The loan is for five years at 2.5% interest per
annum. Find how much Nathalie’s monthly payments are.

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3. [Maximum mark: 6]

Pieter takes out a loan of £20 000 to renovate his house. He agrees to repay the loan over 4
years at 8.25% per annum compounded monthly. Find:
(a) Pieter’s monthly repayments [3]
(b) The outstanding balance on the loan after 1 year of repayments [3]

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4. [Maximum mark: 14]
Shane and Julie have taken out a loan of $250 000 to purchase an apartment. They will
repay the loan over 20 years at 6.25% per annum compounded monthly.
(a) Calculate the monthly repayments [3]
(b) Calculate the total interest charged. [3]
(c) Find the outstanding balance on the loan after 10 years. [2]

After 10 years the couple can afford to increase their monthly repayments. They aim to
completely repay the loan over the next 5 years.

(d) Calculate their monthly repayments for the next 5 years. [3]
(e) Calculate the total interest that would be charged over 15 years. [2]
(f) How much interest will the couple save by repaying their loan sooner? [1]

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5. [Maximum mark: 6]
Use your graphic calculator to solve:
(a) 𝑥 + 𝑦 + 𝑧 = 6
2𝑥 + 4𝑦 + 𝑧 = 5
2𝑥 + 3𝑦 + 𝑧 = 6

(b) 𝑥 + 4𝑦 + 11𝑧 = 7
𝑥 + 6𝑦 + 17𝑧 = 9
𝑥 + 4𝑦 + 8𝑧 = 4

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6. [Maximum mark: 6]
A dietitian wishes to plan a meal around three foods. The meal is to include 8800 units of
Vitamin A, 3380 units of vitamin C, and 1020 units of Calcium. The number of units of
vitamins and calcium in each ounce of the food is summarized in the following table:

Food I Food II Food III

Vitamin A 400 750 820
Vitamin B 115 220 430
Calcium 80 35 50

Determine the amount of each food the dietitian should include in the meal in order to meet
the vitamin and calcium requirements.

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7. [Maximum mark: 8]
Susan and James opened a new business in 2003. Their annual profit was £160 000
in 2006, £198 000 in 2007, and £240 000 in 2008. Based on the information from
these three years they believe that their annual profit can be predicted by the
model:

𝑐
𝑃(𝑡) = 𝑎𝑡 + 𝑏 + pounds
𝑡+4

where t is the number of years after 2006. So, 𝑡 = 0 gives the 2006 profit, 𝑡 = 1
gives the 2007 profit, and so on.

(a) Determine the values of a, b and c which the profits for 2006, 2007, and 2008. [4]
(b) If the profit in 2005 was £130 000, does this profit the model in part (a)? [2]
(c) Susan and James believe their profit will continue to grow according to this model.
Predict their profit in 2009 and 2011. [2]

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8. [Maximum mark: 7]

Solve the following equations:

(a) 3𝑥 5 − 6𝑥 4 − 2𝑥 3 − 1 = 0 [2]
(b) (𝑥 − 2)(𝑥 + 1) = 𝑥 3 [2]
(c) (𝑥 2 + 1)(𝑥 2 − 2) = 10 [3]

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BLANK PAGE

End of Paper

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