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

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Word Problems: Money, Business and Interest

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Question 196226: In the period of a year, an investor lost twice as much as he gained. If he originally had $10,000 , and he now has 8,000, what amount did he gain and what amount did he lose.
My daughter and I have been working ont his but I am quite sure that we are not getting the right answer and we are totally stumped!
I hope someone can help!!!!
She is thinking gain of 2000 and loss of 4000- that seems wrong but who knows...
I think our minds are blown at this point
Please Help!!
Click here to see answer by solver91311(5069)

Question 196328This question is from textbook Finite Math and Applied Calculus
: Hi,
Please help. Pretty sure I'm to use: A=P(1+r/m)^mt but want to be sure.
"Suppose that you win $420,000 in a lottery. If this money is invested in a fund paying 6.5% compounded weekly, how long (in weeks) will you need to wait to become a millionaire?"
thank you in advance for your help!This question is from textbook Finite Math and Applied Calculus

Click here to see answer by Mathtut(3670)

Question 196345: I think I have the answer I just need a double check: Find the present value for a $2500 annual annuity at 7% for 10 years:
PV= P 1-(1 + r/m) ^-mt / (r/m)
PV=2500[1-(1+.07)^(-10) /.07]
2500[1-.508 / .07]
2500[.492/.07]
2500[7.028]
2500*7.03
=$ 17,550.00
Click here to see answer by solver91311(5069)

Question 196344: Find the interest rate on a loan charging $5,344.80 in simple interst on a principal of $5,100 after eight years.
I am trying to use:
r=I/pt
? = 5344.80/5100*8
and I am getting: 0.131% which does not make any sense? Any help would be appreciated. However, 13.1% does if I am moving the decimal over one additional spot.
Click here to see answer by solver91311(5069)

Question 196354: What would be the future value of a loan of $7,000 for 6 years if the bank offered a 10% interest rate compounded quarterly?
Click here to see answer by checkley77(7032)

Question 196351: Joe invested a portion of $6000 at 4.5% interest and the balance at 6% interest. How much did he invest at each rate if his total income from both investments is $279?

Click here to see answer by checkley77(7032)

Question 196823: Patrick is an automobile salesman who receives a salary of $550.00 per week plus a commission of 5 percent on all sales. During a 4 week period he sold $45,500.00 worth of cars. What were Patricks average earnings?
Click here to see answer by Mathtut(3670)

Question 196833: A variable commission scale is normally based on:
1. gross sales
2. A different commission for different levels of sales
3. a fixed level of sales
4. fixed commission rates
5 none of the above
Click here to see answer by Mathtut(3670)

Question 196840: A variable commission scale is normally based on:
1. gross sales
2. A different commission for different levels of sales
3. a fixed level of sales
4. fixed commission rates
5 none of the above
Click here to see answer by stanbon(26249)

Question 196966: Sandy has $3.25 in change. She has five more dimes than quarters but twice as many nickels as dimes. Express the given information as an algebraic equation and simplify.( You are not required to solve the problem.)
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Question 195606This question is from textbook Fundamental Accounting Principles
: I don't see Accounting on the list of subjects, is there any Accounting tutors on this site? This question is from textbook Fundamental Accounting Principles

Click here to see answer by MathTherapy(336)

Question 196996: Before going shopping. Tim had $28.00. After cashing a check, he had more than $75.00. What is the amount of the chec tim cashed?
ineq._____________________________
Click here to see answer by Mathtut(3670)

Question 197074: There are 385 surfers in Surf City. Two thirds of the boys are surfers and one-twelfth of the girls are surfers. If there are two girls for every boy, then how many boys and how many girls are there in Surf City?
1/12x + 2/3y=385 x=girls y=boys this is what i have so far this will have two equations where ill have to add fractions but im not sure what teh second equation is. Can anyone please help me with the equations pleaseeeeeeeeeee... thanks for all ya do shari

Click here to see answer by ankor@dixie-net.com(6684)

Question 196957: A woman buys three board games for $107.10, including tax. If each board game cost $34, what was the sales tax rate?
Click here to see answer by checkley77(7032)

Question 195664: If you have 40 hours at 9,75 and I am married, and I claim one person hour much would the net pay? and if I work 5 hours at time and a half, and double time for 5 hours what would this net pay come up to,,,I am very lost, got the weekly pay and hope is correct of 390.00 but after this I am lost, please help.
Click here to see answer by Alan3354(6045)

Question 197937: .} Recovering an investment. The manager at Cream of the Crop bought a load of watermelons for $200. She priced the melons so that she would make $1.50 profit on each melon. When all but 30 had been sold, the manager had recovered her initial investment. How many did she buy originally?
Click here to see answer by josmiceli(3003)

Question 198169:
I have done these question but need to know what I got right or wrong,,I so do not understand. this is not a test but a review. I know I got most wrong

1. When interest is added to the principal and interest is again calculated on the new balance, the process is known as compound interest.
True
False

2. The terms of a loan indicate how often interest is compounded.
True
False

3. A compound interest table shows the compounded amount per dollar of principal.
True
False

4. To compound daily means to compound 360 times a year.
True
False

5. The number of compounding periods for $6,600.00 at 12% compounded quarterly for 15 years is 30 periods.
True
False

6. The effective rate of a transaction can be calculated by dividing the interest for one year by the principal.
True
False

7. The term "nominal rate" means the same as "true rate." (Points: 2)
True
False

8. The interest on $4,200.00 at 8% compounded semiannually for 10 years is $6,292.40.
True
False

9. In a loan of 8% compounded quarterly, what is the periodic interest
2.5%
6%
2%
4%

10. Present value does not: (Points: 2)
find the present dollar amount
use the tables
know the present dollar amount
know the future value
none of the above

11. The effective rate is:
the interest for one year divided by the principal
the interest for one year divided by the principal for three years
the interest for one year divided by the annual rate
never related to the compound table
none of the above
Click here to see answer by solver91311(5069)

Question 198299This question is from textbook Intermediate Algebra An Applied Approach
: A merchant mixed 10 lb of cinnamon tea with 5 lb of spice tea. The 15 pd mixture cost $40. A second mixture included 12 lb of the cinnamon tea and 8 lb of the spice tea. The 20 pd mixture cost $54. Find the cost per pound of the cinnamon tea and of the spice tea.This question is from textbook Intermediate Algebra An Applied Approach

Click here to see answer by arallie(162)

Question 198300This question is from textbook Intermediate Algebra An Applied Approach
: A chemist has two alloys, one of which is 10% gold and 15% lead, and the other of which is 30% gold and 40% lead. How many grams of each of the two alloys should be used to make an alloy that contains 60g of gold and 88g of lead?This question is from textbook Intermediate Algebra An Applied Approach

Click here to see answer by arallie(162)

Question 198298This question is from textbook Intermediate Algebra An Applied Approach
: Two investments earn an annula income of $575. One investment earns an annual simple interest rate of 8.5% and the other investment earns an annual simple interest rate of 6.4%. The total amount invested is $8000. How much is invested in each account?This question is from textbook Intermediate Algebra An Applied Approach

Click here to see answer by checkley77(7032)

Question 198310: Harold Hacker recently read in a national golf magazine that the average weekend golfer carries a handicap of 15 strokes and the standard deviation is 4 strokes. Harold manages a local men’s church league and just tallied the end-of-season totals. The 64 players in Harold’s league finished the year with an average handicap of 14 strokes.
a. Set up the null and alternative hypotheses to test if the average handicap in Harold’s league is not the same as the national average reported in the magazine.

b. Test your hypothesis using  = 0.02.

c. Find the p value.

d. Based on Harold’s end-of-season data, what can you conclude?

Click here to see answer by stanbon(26249)

Question 197689: Recovering an investment. The manager at Cream of
the Crop bought a load of watermelons for $200. She
priced the melons so that she would make $1.50 profit on
each melon. When all but 30 had been sold, the manager
had recovered her initial investment. How many did she
buy originally?
Click here to see answer by arallie(162)

Question 198519: A man received $12 and free board for every day that he works but for each day that he is idle, he pays the employer $12. How many days was he idle if after 30 days he received $240?
Click here to see answer by yenfox(1)

Question 198518: Twenty-five coins, whose value is $2.75 are made up of nickels, dimes, and quarters. If the nickels were dimes, the dimes were quarters, and the quarters were nickels, the total value would be $3.75. How many coins of each type are there?
Click here to see answer by Edwin McCravy(2920)

Question 198618: The amount "A" on a deposit in a bank account bearing simple interest is given by the formula A=P+PrT
Find A when P = $1100. r=0.09 and t=3
A=_____________
Click here to see answer by jim_thompson5910(13785)

Question 199071: A farmer sell a mixture of wild bird feed in 50 pound bags. If 15% of the mixture is sunflower seeds, how many pounds of sun flower seeds will he need to make 100 bags?
Click here to see answer by RAY100(1637)

Question 199080: 3. One year ago Walt invested $12,000. He invested part of the money at 7% and the rest at 9%. He made a total of $970 in interest. How much was invested at 7%?
I tried to figure this out and I need a hand with this problem
Click here to see answer by jim_thompson5910(13785)

Question 199077: Larry Mitchell investged part of his $10,000 advance at 7% annual simple interest and the rest at 4% annual simple interest. If his total yearly interest from both acccounts was $640, find the amount invested at each rate.
The amount invested at 7% is $_____
The anount invested at 4% is $_____
Click here to see answer by jim_thompson5910(13785)

Question 199173: Maria was reviewing investment results. The account balance at the start of the year was $6700. The account earned $619. She had 3 investments: Bond fund(5% return), balance fund(8% return), and aggressive fund(12% return). She had $300 fewer than she did in balance and bond combined. How much did she have invested in the aggressive fund?
Click here to see answer by ankor@dixie-net.com(6684)

Question 199299: Find the value of $5,800 deposited into a bank at 1.7% interest compounded continuously for 9 years.

Please help!
Thank you!
Click here to see answer by Edwin McCravy(2920)

Question 199301: Please help with this:
How long will it take you to save up $3,500 for a down payment on a new car if you make deposits of $300 every 3 months into a money market account yielding 4.7% compounded quarterly?
thanks,
Click here to see answer by rfer(2683)

Question 199300: Need some help on this please.
Find the term of a loan of $1,800 at 9.3% if the simple interest is $2,845.80.

Thank you!
Click here to see answer by rfer(2683)

Question 199302: I am confusing myself on this one. I know it's compound interest formula, but getting confused on the payment amount.
Suppose you take out a loan for $160,000 at 7.75% compounded monthly and agree to repay the loan in equal monthly payments. How much should each payment be in order to pay off the loan in 30 years?

Thanks
Click here to see answer by rfer(2683)

Question 199323: Can someone confirm the solution for me. Using A=P(1+rt)
Find the term of a loan of $1,800 at 9.3% if the simple interest is $2,845.80.
I'm getting t= 6.247 or 6.25 years
Thank you!
Click here to see answer by rfer(2683)

Question 199347: I need help solving the following word problem: Jill paid $36 for calendars marked down $5 apiece from the original price. If she had bought them at the original price, she would have gotten 5 fewer calendars for the same price. How many calendars did she buy?
Click here to see answer by solver91311(5069)

Question 199382: I need help solving the following word problem. A vending machine accepted any combination of nickels, dimes, and quarters that added to $0.40. How many different combinations of coins were possible?
Click here to see answer by rfer(2683)

Question 199430: Suppose you are an event coordinator for a large performance theater. One of the hottest new Broadway musicals has started to tour, and your city is the first stop on the tour. You need to supply information about projected ticket sales to the box office manager. The box office manager uses this information to anticipate staffing needs until the tickets sell out. You provide the manager with a quadratic equation that models the expected number of ticket sales for each day x. ( is the day tickets go on sale).

a. Does the graph of this equation open up or down? How did you determine this?

b. Describe what happens to the tickets sales as time passes?
c. Use the quadratic equation to determine the last day that tickets will be sold. (Note: Write your answer in terms of the number of days after ticket sales begin.)

d. Will tickets peak or be at a low during the middle of the sale? How do you know?

e. After how many days will the peak or low occur?

f. How many tickets will be sold on the day when the peak or low occurs?

g. What is the point of the vertex? How does this number relate to your answers in parts e and f?

h. How many solutions are there to the equation ? How do you know?

i. What do the solutions represent? Is there a solution that does not make sense? If so, in what ways does the solution not make sense?
Click here to see answer by solver91311(5069)

Question 199558: If mr monroe wants to make 1000 dollars a month by seliing trays and pots of flower and the following information is given, calculate how much must each tray and pot be sold for?
Trays of flower sold per month- 20
pots of flower sold per month-25
EACH TRAY COSTS 2 DOLLARS MORE THAN A POT
Click here to see answer by edjones(3291)

Question 199561: 2. A business invests $8,000 in a savings account for two years. At the beginning of the second year, an additional $2,500 is invested. At the end of the second year, the account balance is $11,445. What was the annual interest rate?
Im not good at interest

Click here to see answer by jim_thompson5910(13785)

Question 199748: Holly paid 7% sales tax and a disposal charge of $16 when she bought new tires for her car. The total cost was $259.96. If x represents the price of the new set of tires, then x satisfies x+0.07x+16=259.96. Find the price of her new set of tires.
Click here to see answer by tutor_paul(424)

Question 199747: Holly paid 7% sales tax and a disposal charge of $16 when she bought new tires for her car. The total cost was %259.96. If x represents the price of the new set of tires, then x satisfies x+0.07x+16=259.96. Find the price of her new set of tires.
Click here to see answer by stanbon(26249)

Question 199788: mark invested $12, 000 in a new restaraunt. When the restaurant was sold two years later, he received $ 27,000. Find his average annual return by soloving the equation 12,000( 1 + r)^2 = 27,000_
Click here to see answer by checkley77(7032)

Question 199889: pablo invested $24,000 in two money market funds. The first paid 5% interest per year and the second paid 3% interest per year. He earned a total profit of $1120 in one year. How much did he invest at each rate?
Click here to see answer by nerdybill(2446)

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