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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 137606: A man spends $1.60 for thirty stamps, getting some 5 cent stamps and some 4 cent stamps. How much of each kind does he buy?
Click here to see answer by checkley77(12569)

Question 137604: A man invested $2500, part at 4%. His total annual income was $110. How much did he invest at each rate?
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Question 138088: Hi,
I have the answer to this problem, but I did not solve it algebraically. Can you help me with how it would be solved through algebra? Here is the problem:
If a bank compounds continuously, then the formula used is A=Pe^rt
where e is a constant and equals approximately 2.7183, P = $3000 and r=6%, how long will it take (t) to double the P? In other words, if A=6000, P=3000, e= 2.7183 and r=6%, solve for t

Click here to see answer by scott8148(6628)

Question 138279: Suppose $500 is invested at 6% annual inerest compounded twice a year. When will the investment be worth $1000?
Click here to see answer by stanbon(57323)

Question 138284: An organism of a certain type can grow from 30 to 195 in 5 hours. Find k for the growth formula.
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Question 138282: If James needs $15,000 for his new car. How much does he have to invest now in a 36-month CD that has a rate of 3.75% compounded quarterly?
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Question 138364: Pablo invested $445,000 in two bonds. The first bond paid 3% interest per year and the second 8% per year. The total interest pablo received in one year was $2850. How much did he invest in each bond?
Click here to see answer by checkley77(12569)

Question 138289: For a certain strain of bacteria, k is 0.825 when t is measured in days. How long will it take 20 bacteria to increase to 2000?
Click here to see answer by ankor@dixie-net.com(15649)

Question 138727: Please help me with this problem,thanks. A commonly asked question is how long will it take to double my money? At 6% interest rate and continuous compounding , what is the answer? Round your answer to the hundredths place.
If a bank compounds continually , then the formula used is A=Pe^rt. Please explain your answer.
Click here to see answer by stanbon(57323)

Question 138770: Please help.
Use the compound interest formulas A=P(1+r/n)^nt and A =P^ert to solve. Find the accumulated value of an investment of $17,000 at 12% compounded annually for 18 years.
Click here to see answer by checkley77(12569)

Question 138862: A saleswoman at a car dealership earns $1200 per month plus a 9% commission on her total sales. If she earned $7320 last month, what was the amount of her sales?
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Question 138850: Pablo invested $45,000 in two bonds. The first bond paid 3% interest per year and the second bond paid 8% per year. The total interest Pablo received in one year was $2850. How much did he invest in each bond?
Click here to see answer by checkley77(12569)

Question 138901: In 2002, Home Depot's sales amounted to $58,200,000,000. In 2006, its sales were $90,800,000,000. Write Home Depot's 2002 sales and 2006 sales in scientific notation. Find the increase in sales from 2002 to 2006 in scientific notation. Find what percent that increase is of the 2002 sales in scientific notation.
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Question 138899: A customer wants to make a teepee in his backyard for his children. He plans to use leangths of PVC pipe for the the supports on the teepee, and he wants the teepee to be 12 feet across and 8 feet tall. How long should the pieces of PVC plumbing pipe be?
Click here to see answer by checkley77(12569)

Question 139236: Carol has more than 80 coins, all nickels and dimes. She has dimes than nickels. What is the least number that Carol can have.
Click here to see answer by solver91311(16877)

Question 139345: Some students planned for a get-together. The budget for food was $500. Five of the students failed to come because of the distance, therfore the cost of food for each member increased by $5. How many students attended the get-together?
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Question 139477: Two girls went to the store for rice and sugar. One girl bought 3 kilograms of sugar and 2 kilograms of rice for $3.25. The other girl bought 2 kilograms of rice for $2.50. Find the price per kilogram for both the sugar and rice.
Click here to see answer by stanbon(57323)

Question 139543: I know the formula for this type of problem, but I can't seem to turn it around to get the answer to this problem.
What is the initial investment if you end up with $30,000 after 18 years of instantaneous interest at 10%.
Please help!
Click here to see answer by stanbon(57323)

Question 139661: A cab company charges customers 5$ the first mile and $1.25 the following additional miles. One third of the drivers' pays goes to the cab company. If a driver has 12 fares and drives 84 miles in one day, how much money does the driver earn, not including tips? My teacher said the answer was $100, but I really don't understand how she solved it. If you could help, me, that would be great.
Click here to see answer by scott8148(6628)

Question 139866: Gertrude lived in a $ 150.000 home and pays $ 1800 in taxes for the year. Gertrude's friend Helen has a $ 92.000 home. Approxiamately how much does Helen pay in taxes?
2. Marty earns $ 800 a month. His utility bills account for 16% of his income. If Marty is able to reduce his utility bills by 25% how much money will he save over a year's time?
3. A rectangular box is 24 inches long, 36 inches wide, and 12 inches high. How many cubic feet of space does it contain?
4. A jar contains 4 red pencils, 3 blue pencils, 2 green pencils, and 1 orange pencil. Mark takes 1 pencil out of jar, what is the probability that it is green?
Click here to see answer by checkley77(12569)

Question 140002: On the day of your grandchild's birth, you deposit$46881 in a trust fund that pays 7.01% interest, compounded continously. Find the balance in this account on your grandchilds 29th birthday. Being that i'm really old now i'm having some difficulty solving this problem.
Click here to see answer by stanbon(57323)

Question 140035: Hi, i,m confused with this problem i'm not sure whats the difference b/t compounded continously and compounded annually. this is the problem
Dtermine the time necessary for $7096.1 to double if invested at interest rate 13.2032% a) compounded annually b) compounded monthly c)compounded daily d) compounded continously
Click here to see answer by stanbon(57323)

Question 140283: I really need help with this question, I can't figure it out...please.
An artist has sold a painting for $410,000. He needs some of the money in 6 months and the rest in a year. He can get a treasury bond for 6 months at 4.65% and one for a year at 4.91%. His broker tells him the two investments will earn a total of $14,961. How much should be invested at each rate to obtain that amount of interest?
Click here to see answer by stanbon(57323)

Question 140628: A patrolman spends 1/8 of his 40 hour week making out reports and 1/16 of it at guard headquarters for instructions, changing clothes, and resting. If the balance of his time is spent in patrolling, how many hours does he spend on patrol?
Click here to see answer by edjones(7569)

Question 140587: I'm pretty sure this question would go under this category, I have no idea where to start. Any help would be appreciated
A company determines that the profit, P(x), earned on the sale of x items is given
by the formula:

a) Determine the number of items sold if the company loses $2,400.
b) How many items must be sold for the maximum profit?
c) What is the maximum profit?
Thank you
Click here to see answer by edjones(7569)

Question 140875: Hi my question is this: A 35-minute phone call cost $4.95.Introductory minutes cost $.16/min and additional minutes are $.11/min. How many minutes were billed at each rate?
I used to know how to do this problem but i for get can you please help me?
Click here to see answer by josmiceli(9671)

Question 140930: Barry & Steve are good friend. Barry wants to buy a new computer, but he doesn't have the money for it right now. Barry says that he will pay Steve $2,000 in five years if Steve gives him the $1,600 for the computer today.
Steve figures that there's an interest rate of 6% if he were to put the money in a bank instead of lending it to Barry.
Assuming that there is no rick of Barry paying the $2,000 when he says he will, should Steve go though with the loan or should he put his money in the bank?
Using the formulas for compound interest and simple interest. FV= P (1+R)t
and PV= FV
-----
(1+R)t
I am unsure how to get the answers using these formulas. I am lost!! Please help.
Click here to see answer by vleith(2825)

Question 141103: I would really appreciate any feedback( help ) with what I need to do. The problem is a certain amount of money in invested at 8% per year, and 1500$ more than that amount is invested at 9% per year. The annual interest from the 9% investment exceeds the annual interest from the 8% investment by 160$. How much is invested at each rate? This is what I set up.
.08x+.09(x+1500) = 160+??????????? thank you in advance for your imput
Click here to see answer by scott8148(6628)

Question 141224: Mr. Graham invested some of his $18,000 in bonds and made a 5% profit and the rest in bonds that made a 12% profit. If the profit on the 12% bonds was $885 more than the profit on the 5% bonds, how much did Mr. Graham invest in the 5% bonds?
Click here to see answer by ankor@dixie-net.com(15649)

Question 141272: ray's jewelry company sold gold rings for $50 each and silver rings for $35 each. total sells were $2400. if customers bought twice as many silver rings as gold rings, how many of each did the store sell? find the total dollar sales of each.
Click here to see answer by checkley77(12569)

Question 141396: A pet store has a total of 35 dogs,cats,and rabbits. the number pf rabbits is 1 more than dogs, and there are 3 fewer rabbits than cats. how many cats are in the pet store
Click here to see answer by ankor@dixie-net.com(15649)

Question 141777: Sam emptied his collection of nickels and dimes on his bed. If his 46 coins were worth $3.10, how many coins of each type did he have?
Click here to see answer by ptaylor(2048)

Question 141839: Question # 1,2,3 Page 360 from Algebra 1( Prentice Hall).
1-What profit will be made if all but 14 of a shipment of 650 tire, purchased for $12,225,are sold?
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Question 141900: If a sum of 12000 doubles in 5 years at compound interest basis.Then what will be the amount after 20 years, if compounded annually?
Click here to see answer by ankor@dixie-net.com(15649)

Question 142019: A total of $8000 is invested , part at 3% and the rest at 4% per year. If the annual return on theses investments is $275, how much is invested at each rate?
Click here to see answer by checkley77(12569)

Question 142585: An Investment of $3000 is placed in stocks and bonds. The annual rate of return on the stocks is 4.5%, and the rate of the return on the bonds is 8%. the annual from the stocks and bonds is $177. Find the amount invested in bonds?
I started with .045x + (3000 - x).08 = 177
Click here to see answer by vleith(2825)

Question 142599: A company had 1250 employes.The company hired 20 casuals, 50 employee retired, 3 part-time flex employess became full-time employees, 18 employes were laid off.
How many employees did the company gain?
How many did the company lose?
what was the difference in gain and lost?
Click here to see answer by stanbon(57323)

Question 143049: I can't quite figure out how to create an equation for this word problem
A university bookstore recently sold a wirebound graph-paper notebook for $2.50, and a college-ruled notebook for $2.30. At the start of spring semester, a combination of 50 of these notebooks were sold for a total of $118.60. How many of each type were sold?
Click here to see answer by scott8148(6628)

Question 143231: Hi, another question from the GRE math test prep.
A group can charter a particular aircraft at a fixed total cost. If 36 people charter the aircraft rather than 40 people, then the cost per person is greater by $12. What is the cost per person if 40 people charter the aircraft?
Thank you!!
Lauren
Click here to see answer by vleith(2825)

Question 143312: Joe has a collection of nickels and dimes that is worth $5.65. If the number of dimes were doubled and the number of nickels were increased by 8, the value of the coins would be $10.45. How many dimes does he have?
The answer I got is $6.19.
Click here to see answer by ptaylor(2048)

Question 143324: Lucinda bought two record albums and a compat disc for a total of $28.00. The price of each record album was 66 2/3% (sixty-six and two-thirds) of the price od the compact disc. How much did Lucinda pay for a record album? (Note: Both record albums cost the same)
Click here to see answer by jojo14344(1512)

Question 143366: If a manufacturer charges p dollars each for rugby shirts, then he expects to sell 2000 - 100p shirts per week. What polynomial represents the total revenue expected for a week? How many shirts will be sold if the manufacturer charges $20 each for the shirts? Find the total revenue when the shirts are sold for $20 each.
So far what I have come up with is P(R) = 2000 - 100p, but I really don't think it is correct. I just don't seem to find enough facts to put together an equation - can you please help? Thanks!
Click here to see answer by solver91311(16877)

Question 143373: mat 115 chapter 4 in basic mathematical skills with geometry
Business and finance. Claudia earns $6.40 per hour (h). For overtime (each hour
over 40 h) she earns $9.60. If she works 48.5 h in a week, what pay should she
receive?
Click here to see answer by checkley77(12569)

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