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Tutors Answer Your Questions about Money Word Problems (FREE)
Question 25000: Someone Please help me with this one!!!!!!!!!!
Suppose you depost $10,000 for 2 years at a rate of 10%.
calculate the return (A) if the bank compounds annually (n=1)
calculate the return(a) if the bank compunds quarterly (n=4)
calculate the return (A) if the bank compounds monthly (n=12)
calculate the return(a) if the bank compounds daily (n=365)
What obervations can you make about the increase in our return as your compounding increases more frequently?
If a bank compounds continuous, then the formula takes a simpler, that is A=Pe^rt
where e is a constant and equals approximately 2.7183
Calculate A with continuous compounding.
Now suppose, instead of knowing t, we know that the bank returned to us 15,000 with the bank compunding continuously. Using logarithms, find how long we left money in the bank (find t)
How long will it take to double my money at 10 & interest rate and continous compunding what is the answer???????
Thanks to all
Click here to see answer by stanbon(26249)   |
Question 24908: Business and finance. In planning for a new item, a manufacturer assumes that the number of items produced x and the cost in dollars C of producing these items are related by a linear equation. Projections are that 100 items will cost $10,000 to produce and that 300 items will cost $22,000 to produce. Find the equation that relates C and x.
Click here to see answer by stanbon(26249) |
Question 24903: please help me understand and find the answer to the following problem:
a store bought a $3000 shipment of ski jackets and offered them for sale after a markup of @25 each. all but ten were sold, and the store made a profit of $750. how many jackets were in the shipment?
thanks
javier
Click here to see answer by askmemath(368) |
Question 25051: The band members sold tickets to their concert performance. There were 16 more than twice as many $6 tickets sold as $5 tickets. The total sales were $1643. How many tickets of each price were sold?
Click here to see answer by Paul(988) |
Question 25452: The cost for a long-distance telephone call is $0.36 for the first minute and $0.21 for each additional minute or portion thereof. Write an inequality representing the number of minutes a person could talk without exceeding $3.
Click here to see answer by LolaFish(5) |
Question 25024: Thank you so much for your help. My problems is that Johnny wants to invest using $16000 that he has saved. The investment grew up to $25000 in 2 years.
Can you find the annual interest rate of his return by solving the following equation for him:
16000(1+x)^2 = 25000
I believe the answer is 25%, but I'm not sure how to solve equation in reverse. Can you please help me?
Click here to see answer by bacos(9) |
Question 25597: There are 850 Douglas fir and ponderosa pine trees in a section of forest bought by Sawz Logging Co. The company paid an average of $300 for each Douglas fir and $225 for each ponderosa pine. If the company paid $217,500 for the trees, how many of each kind did the company buy?
Click here to see answer by elima(1433) |
Question 25741: A woman invested part of 20,000 at 6% and the rest at 7%. If her annual interest is 1,260, how much did she invest at 6%?
Interest problems always stump me. Any help with this could really help me.
Click here to see answer by elima(1433) |
Question 25797: Here is my question: A banker invested a portion of $10,000 at 5% interest per year and the remainder at 4% interest per year. If the banker received $470 in interest after 1 year, how much was invested at each rate?
I really don't get this, PLEASE HELP!!!!
Click here to see answer by elima(1433) |
Question 26040: Members of the Computer Club were assessed equal amounts to raise $1200 to buy some software. When 8 new members joined, the per-member assessment was reduced by $7.50. What was the new size of the club? Thank you.
Click here to see answer by Paul(988) |
Question 26284: An investment advisor invested $14,000 in two accounts. One investment earned 8% annual simple interest and the other investment earned 6.5% annual simple interest. The amount of interest earned for 1 year was $1024. How much was invested in each account?
Click here to see answer by stanbon(26249) |
Question 26526: A person has $1500.00 to invest for 1 year. He has a choice of a credit union account that pays 4.5% annual simple interest and a bank account that pays 4% interest compounded quarterly. Detemine which account would pay more interest and by how much?
Click here to see answer by stanbon(26249) |
Question 26525: Lakeitha earned $12,000 more in her accounting job this year because she received her CPA certification. She decided to invest the money, which was split between two different savings accounts. One account was a certificate of deposit that paid 7.25% annual interest. The other was a money market account that paid 5.4% annual interest. At the end of one year, she had made $730. How much did she invest in the money market account?
Click here to see answer by stanbon(26249) |
Question 26750: My problem is the following, I can work out the answer by trial and error, but I figure there must be an algebraic way of solving the question.
John Invests $23000 at the bank.
The bank places some of the money at 8% and the rest at 5%.
After one year he has gained $1000. How much did the bank place at 8%
Click here to see answer by bmauger(101) |
Question 27459: I havent taken math since college and am helping my Gfriend with her Algerbra........I just dont know how to set up the equation for this word problem. Could you show me how to set it up and solve it?? The question is as follows:
Mr.A owns two appliance repair shops. This year the telephone bill for his Salem store was $610 less than twice the telephone bill for his Saugus shop. The total telephone bill for both stores was $2,054. What was the cost of each shops telephone service for the year?
Click here to see answer by Paul(988) |
Question 27460: How would I set up an equation to solve this problem??
The populatoin of the U.S in 199 was estimated to be 273.1 million people. This was an increase of 34 percent from the population in 1969. What was the population in the U.S in 1969?
I would appreciat the help, thank you
Click here to see answer by Z(8) |
Question 27727: If I use this formula a=p(1+i/n)nt
How do i caluclate the amount of money that will be in my account after 10 years if I invest $2500 at 4.8% compounded quarterly.
p=2500
i= 4.8%
n= compounded quarterly (4times a year)
t=10 years
a=2500(1+0.048/4^10 please let me know if this is correct
Thanks
Click here to see answer by Paul(988) |
Question 27878: Please help. I am terrible at setting up word problems.
A small company produces both standard and deluxe playhouses. The standard playhouses take 12 hours of labor to produce, and the deluxe playhouses take 20 hours. The labor available is limited to 800 hours per week, and the total production capacity is 50 items per week. Existing orders require the company to produce at least 10 standard playhouses and 15 deluxe playhouses per week. Write a system of inequalities representing this situation, where x is the number of standard playhouses and y is the number of deluxe playhouses. Then graph the system of inequalities.
Click here to see answer by bmauger(101) |
Question 27892: 60. Business and finance. A coffee merchant has coffee beans that sell for $9 per pound and $12 per pound. The two types are to be mixed to create 100 lb of a mixture that will sell for $11.25 per pound. How much of each type of bean should be used in the mixture?
Click here to see answer by Paul(988) |
Question 28285: Melanie invested $5000 for 18 months, part at a rate of 12% annual interest and the rest at a rate of 9% annual interest. The interest from the investment at 12% was $348.75 more than the interest from the investment at 9%. How much money did she invest at each rate? (Interest formula: Interest=principal x rate x time [expressed in years]) All steps in the solution must be shown and each step must be accompanied by a verbal/written explanation to justify your work and/or explain your reasoning.
No idea where to start let alone write an explanation.
Click here to see answer by josmiceli(3003) |
Question 28376: Mr. C can invest one sum of money at 7% and a second sum @ 10% and get $640 per year. If he invests his first sum at 10% and the second @ 7% he will make $550 per year. How much is he going to invest in the separate accounts?
Click here to see answer by josmiceli(3003) |
Question 28514: hi i always had problems with math. we have this project and i really cant solve this problem, can you help me?
A man bought some tools for a total amount of $50,000. if he had bought 50 more tools, it would have cost him $20 less per price. how many tools did he buy?
Click here to see answer by askmemath(368) |
Question 27879: Please help.. I can not set this up... nothing I do comes out right...
I tried:
12hours-standard =x
20hours-deluxe=y
=800
50 items a week - where does this come in???
so then I thought
x+yless than or equals $800
12x+20y less than or equals $800
nope - doesn't work out.
A home-based company produces both hand-knitted scarves and sweaters. The scarves take 2 hours of labor to produce, and the sweaters take 14 hours. The labor available is limited to 40 hours per week, and the total production capacity is 5 items per week. Write a system of inequalities representing this situation, where x is the number of scarves and y is the number of sweaters. Then graph the system of inequalities.
Click here to see answer by Lal(16) |
Question 29140: Adult tickets for a play cost $15 and child tickets cost $1. If there were 29 people at a performance and the theater collected $155 from ticket sales, how many adults and how many children attended the play?
Click here to see answer by checkley72(6) |
Question 29021: Adult tickets for a play cost $15 and child tickets cost $1. If there were 29 people at a performance and the theater collected $155 from ticket sales, how many adults and how many children attended the play?
Click here to see answer by Nate(3495) |
Question 29404: A real estate agent agrees to sell a large apartment complex according to the following commission schedule: $23,000 plus 25% of the selling price in excess of $900,000. Assuming that the complex will sell at some price between $900,000 and $1,100,000, inclusive, over what range does the agent's commission vary? How does the commission vary as a percent of selling price?
Click here to see answer by josmiceli(3003) |
Question 29706: My son couldn't get these homework problem (even using text) and teacher didn't have time to review in class. QUESTION A librarian bought 10 library books for a total of $138.62; how many at $12.95 and how many at $15.99? This was a "real life problem" in a 7th grade unit on decimals and percents. ALSO, QUESTION Play tickets were $6 per adult and $4 per child. If $960 total sales were for 180 tickets, how many were adult?
Click here to see answer by askmemath(368) |
Question 29706: My son couldn't get these homework problem (even using text) and teacher didn't have time to review in class. QUESTION A librarian bought 10 library books for a total of $138.62; how many at $12.95 and how many at $15.99? This was a "real life problem" in a 7th grade unit on decimals and percents. ALSO, QUESTION Play tickets were $6 per adult and $4 per child. If $960 total sales were for 180 tickets, how many were adult?
Click here to see answer by AnlytcPhil(958) |
Question 29586: There are two types of pumpkins, large ones that sell for $9 and small ones that sell for $4. A total of 80 pumpkins were sold that totaled $395. How many of each were sold?
I figured I would begin 9a + 4b = 395, then that would equate to 9a = 395 - 4b. However, I don't know what to do next. Please help.
Thanks. Matt
Click here to see answer by sdmmadam@yahoo.com(530) |
Question 29851: If the demand d and the supply s for snowboards are d=360/p and s=150p-510 find the profit p, in hundreds of thousands of dollars, at the equilibrium point when supply and demand equal.
thanks for the help
Click here to see answer by ikdeep(182) |
Question 29575: Please help me with this word problem!
Peter has 40 pumpkins to sell. He will sell them all if he sets his price at $1.00 each,but will sell one less pumpkin for each 5 cents increase in price. What price should he charge in order to maximize his earnings? (Show algebraically)
Click here to see answer by Yoan(9) |
Question 29863: The manager of a new company predicted that the company would lose $2250 its first month, $1950 its second month, and so on. She furter redicted that this trend would continue and that the business would continue to impove by $300 each month.
a) Identify the quadriatic equation in standard form that describes the net financial position as a function of months.
b) In which month would the net finanicial position first become positive?
Click here to see answer by Nate(3495) |
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