Questions on Word Problems: Money, Business and Interest answered by real tutors!

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Question 571377: I am in business math and for the life of me I cannot figure out how to do this problem! Please help! Margie is buying a car. Her June monthly interest at 12 1/2% was $195. What was Margie's principal balance at the beginning of June? Please don't answer in Algebra, because I won't understand it. Thank you for your help.
Click here to see answer by Edwin McCravy(6931)

Question 571145: Henry invest money in two plans. He invest three-fifths of the money in an account at a return rate of 7%. He invests the remainder of the money in an account with a return rate of 3%. I f the total intrest earned in one year for the investments is $54.00, how much was invested in each plan. i made a chart that says account, rate, principal, and intrest
under account i have first account and second account. under rate i have 0.07 and 0.03. and under principal i have 3/5p but my problem is i dont know how to find 0.03's principal. so for 0.07 in the intrest box i have 0.07*3/5p.
Click here to see answer by josmiceli(6774)

Question 571100: Suppose you invest money in two accounts. One of the accounts pays 8% annual interest, whereas the other pays 9% annual interest. If you have $2000 more invested at 9% than you have invested at 8%, how much do you have invested in each account if the total amount of interest you earn in a year is $860?
Click here to see answer by mananth(10539)

Question 571060: Suppose you start saving today for a down payment that you plan to make on a house in 5 years. Assume that you make no deposits into the account after your initial deposit. The account has annual compounding and an APR of 2.7%. How much would you need to deposit now to reach your goal in 5 years?
Click here to see answer by stanbon(48510)

Question 570858: Jane deposits $400 into an account that pays simple interest at a rate of 4% per year. How much interest will she be paid in the first 4 years?
Click here to see answer by JBarnum(1826)

Question 570784: Dear Sirs,
- How many times heavier is 35kg than 5kg
- What sum of money is 3 times larger than 15p.
Thank you
Click here to see answer by Alan3354(21550)

Question 570736: Kate invested $3500 at a 5% simple interest rate. How many years will it take for the original amount of money to double?
Click here to see answer by josmiceli(6774)

Question 570016: 5. The same salesman has a particular trip of 48 miles, which he often takes. Four times it has taken him one hour to complete the trip and six times it has taken one and a half hours. What is his expected time per trip? (Now convert the data to miles per hour and then calculate his expected speed. Compare the two answers.)
6. A small loan company finds 12% of its loans are defaulted for an average of 20% of the loan value. What is the expected percent of default for all their loans?
7. A mail order company finds 18% of the purchases of a particular item are returned. The company estimates each return costs $0.70 in transportation and extra handling. What is the expected extra cost due to returns per unit of this item?
8. A second-hand car lot has a mark-up of $250 on 65% of its cars and a mark-up of $400 on the rest. What is the expected mark-up?
9. A department store discovers twice as many customers buy two units of $3.95 (for the pair) as buy one unit for $2.15. What is the expected purchase price per unit?
10. A magazine states the average number of cars per subscriber family is 1.2. If 20% of the family subscribers have no cars, what is the average number of cars per family of those families, which have one or more cars?

Click here to see answer by solver91311(12118)

Question 569750: If you buy a shirt for 225 dollars, the discount was 25%. What is original price of shirt?
Click here to see answer by josmiceli(6774)

Question 569557: I loaned a friend $6,000.00 she said she would pay me 6% interest. She is paying me back at the rate of $50.00 a month. How long will it take for her to pay me back the principal and interest.
Click here to see answer by JBarnum(1826)

Question 569517: 6300 is invested part of it at 11% and part of it at 8% for a certain year the total yield is 597.00. how much was invested at each rate
How much was invested at 11% and 8%
Click here to see answer by bluemockingjay7(41)

Question 569365: Find the amount of interest and the monthly payment for the loan. Purchase a car for $42,500 at 2.4% add-on rate for 5 years. (Round your answers to the nearest cent.)
the correct answer was 5100 for interest
the correct answer was 793.33 per month
I had 1751 for interest and 388.73 for monthly payment. How did they arrive at 5100 and 793.33. Thanks.
Click here to see answer by solver91311(12118)

Question 569359: A car dealer will sell you a used car for $7,771 with $771 down and payments of $237.03 per month for 36 months. What is the simple interest rate? (round each answer to the nearest). the correct answer is 7.3% My answer was 4.1%
I did the following:
$7,7771 - $771 =7000
I=/$237.03(36) = 8533.08
7000(r)(3)= 21,000
8533.08/21000= 0.406

I want to see how they arrived at 7.3% thanks.
Click here to see answer by solver91311(12118)

Question 568936: On her most recent investment Kristi earned $300 on a total of $2,500 invested. What is her rate of return?
Click here to see answer by Maths68(1140)

Question 568939: John invested $7500 at 10.4% simple interest for one year. How much additional money must he invest at a simple interest rate of 14% so that the total interest earned is 12% of the total investment ?
Click here to see answer by lwsshak3(2915)

Question 568363: John sold you a candy bar for $1.00 that he bought for only 25 cents. What was the percent of increase?
Click here to see answer by stanbon(48510)

Question 568320: 1.An executive invests $25,000, some at 6% and some at 5% annual interest. If he receives an annual return of $1380, how much is invested at each rate?
2.A restaurant has fixed costs of $148.75 per day and an average unit cost of $4.75 for each meal served. If a typical meal costs $6, how many customers must eat at the restaurant each day for the owner to make a profit?

3.A machine to manufacture fasteners has a setup cost of $1,100 and a unit cost of $0.003 for each fastener manufactured. A newer machine has a setup cost of $1,450 but a unit cost of only $0.0025 for each fastener manufactured. Find the break point. (Round your answer to the nearest whole unit.)

Click here to see answer by mananth(10539)

Question 568243: Two investments totaling $27,500 produce an annuel income of $1,895. One investment yields 7% a year, while the other yields 4% per year. How much is invested at each rate?
Click here to see answer by mananth(10539)

Question 568281: If a business borrows $15,000 and repays $21,300 in 4 years, what is the simple interest rate?
Click here to see answer by stanbon(48510)

Question 568281: If a business borrows $15,000 and repays $21,300 in 4 years, what is the simple interest rate?
Click here to see answer by mananth(10539)

Question 568025: class 12l of 12%alcahol solutioni mixxed with a 20% alcahol solution to get a 14% solution how many liters of 20% solution are needed
Click here to see answer by stanbon(48510)

Question 567881: Tom had twice as much as lisa. Tom spent $15, lisa had 2/3 of what tom had left. How much did both have altogether at first?
Click here to see answer by lwsshak3(2915)

Question 567749: 3. In 2001, Home Depot’s sales amounted to $60,700,000,000. In 2005, its sales were $71,200,000,000.
Write Home Depot’s 2001 sales and 2005 sales in scientific notation.
You can find the percent of growth in Home Depot’s sales from 2001 to 2005 by following these steps:
• Find the increase in sales from 2001 to 2005.
• Find what percent that increase is of the 2001 sales.
What was the percent growth in Home Depot’s sales from 2001 to 2005? Do all your work by using scientific notation (Round your answer to the nearest thousandth).
How do I get a paid tutor?
Click here to see answer by KMST(578)

Question 567823: Desa invested a certain amount of money at 4% interest and $1500 more than that amount at 7%. Her total yearly interest was $435. How much did she invest at each
rate?
Click here to see answer by solver91311(12118)

Question 567632: how to find the balance when you have $20,000 deposit earning 3.5% compound quarterly, after 10 years
can you give me the steps please i understand how to do principal earning but i don't get deposit earning
Click here to see answer by ankor@dixie-net.com(12684)

Question 567642: Betsy a retiree, requires $5000 per year in extra income.she has $60000 to invest and can invest in B-rated bonds paying 13% per year or in a certificate of deposit paying 3% per year. How much money should be invested in each to realize exactly $5000 in interest per year?

Click here to see answer by Earlsdon(6098)

Question 567538: A car dealer, at a year-end clearance, reduces the list price of last year's models by 15%. If a certain four-door model has a discounted price of $8000, what was its list price? how much can be saved by purchasing last year's model?
Click here to see answer by MNSue(6)

Question 567549: Laura works at a sporting goods store. She earns a 6% commission on all sales. How much commission does Laura earn on a $300 sale?
Click here to see answer by MNSue(6)

Question 567567: A builder of tract homes reduced the price of a model by 15%. If the new price is $425,000, what was its original price? How much can be saved by purchasing the model?
Click here to see answer by MNSue(6)

Question 567540: A college book store marks up the price that it pays the publisher for a book by 35%. If the selling price of a book is $92.00, how much did the bookstore pay for the book?
Click here to see answer by unlockmath(1120)

Question 567450: Two investments earn an annual income of $478.40. One investment earns an annual simple interest rate of 6.5%, and the other investment earns an annual simple interest rate of 5.4%. The total amount invested is $7,800. How much is invested in each account?
Click here to see answer by mananth(10539)

Question 567490: Marya invests $9000 for 4 years in a bank that pays 3% annual interest. What is the average value of her account over this time period if interest is compounded continuously
Click here to see answer by nyc_function(2626)

Question 567492: You have $68.00 and you must find the percent that you subtract from that number to get $35.00.
Click here to see answer by nerdybill(5403)

Question 567483: How much will be in someone's account at the end of 3 years if they deposit $700 and the simple interest is 5% per year?

Click here to see answer by stanbon(48510)

Question 567320: If we need to bill $509,375 after subtracting a 10% discount, how much does the original total bill need to be?
Click here to see answer by Maths68(1140)

Question 567339: A salary after a 4.5% increase, if the original salary is x dollars
Click here to see answer by Maths68(1140)

Question 567027: If you borrow $2000 and charged 7.0% interest compounded monthly and pay the principal interest in full after 72 weeks. a. how much money will you owe? b. how much interests will they make off the loan! can you walk me through the problem?
Click here to see answer by mananth(10539)

Question 567015: I have trouble answering this simple interest question. A loan company advertises that you only pay 8 cents per day for each $100 borrowed. If a person borrows $500 for 90 days, what amount must the person repay and what annual simple interest rate is the loan company actually charging?(use a 360-day year)
Click here to see answer by stanbon(48510)

Question 566775: I get these questions wrong every time. they are the only only ones i miss, and they are keeping me from finishing this class! ive tried both asnswers in () but neither is right. what do i do to solve these? ):

1a) Kim’s Garage borrows $7300 at 10% for 30 days. Find the amount of simple interest that is due.
$ (60.83) (730.00)
1b)What is the total amount that must be repaid after 30 days?
$ (7360.83) (8030.00)

2a)A company borrows $5000 at 6% for 60 days. Find the amount of simple interest that is due.
$ (50.00) (300.00)
2b)What is the total amount that must be repaid after 60 days?.
$ (5050.00) (5300.00)
Click here to see answer by scott8148(5879)

Question 566777: The friendly National Bank holds $50 million in reserves at its Federal Reserve District Bank. The required reserves ratio is 12 percent.
a. If the bank has $600 million in deposits, what amount of vault cash would be needed for the bamk to be in compliance with the required reserves ratio?
b. The Friendly National Bank holds $10 million in vault cash, determine the required reserves ratio that would be needed for the bank to avoid a reserves deficit.
Click here to see answer by solver91311(12118)

Question 566781: Assume that there are two banks, A and Z, in the banking system. Bank A receives a primary deposit of 600,000, and it must keep reserves of 12 percent against deposits. Bank A makes a loan in the amount that can be safely lent.
a. Show that Bank A's balance sheet of assets and liabilities would look like immediately after the loan.
b. Assume that a check is drawn against the primary deposit made in Bank A and deposited in Bank Z. Show what the balance sheet of assets and liabilities would look like for each of the two banks after the transaction has taken place.
c. Now assume that Bank Z makes a loan in the amount that can be safely lent against the funds deposited in its bank from the transaction described in (b). Show what Bank Z's balance sheet of assets and liabilities would like after the loan.
Click here to see answer by solver91311(12118)

Question 566784: The SIMPLEX financial system is characterized by a required reserve ratio of 11 percent; initial excess reserves are $1 million, and there are no currency or other leakages.
a. What would be the maximum amount of checkable deposits after deposit expansion, and what would be the money multiplier?
b. How would your answer in (a) change if the reserve requirement had been 9 percent?
Click here to see answer by solver91311(12118)

Question 566779: How long, in years, will it take an investment of $1,000 to double to $2,000 at annual simple interest rate of 3%?
Click here to see answer by solver91311(12118)

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