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

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 Word Problems: Money, Business and Interest Solvers Lessons Answers archive Quiz In Depth

 Question 200538: please help me solve this equation \$1000 is invested at 4% for 3 years. How much will the account be worth if the interest is compounded monthly? Click here to see answer by jim_thompson5910(29613)

 Question 200607: The amount of an investment of P dollars for t years at simple interest rate r is given by A = P + prt Find A if \$8300 is invested for 3 years at a simple interest rate of 15%. Click here to see answer by jim_thompson5910(29613)

 Question 200704: TAB2 need help on word problem 1.Investing her bonus. Donna invested her \$33,000 bonus and received a total of \$970 in interest after one year. If part of the money returned 4% and the reminder 2.25% then how much did she invest at each rate? 2.Tickets for a concert were sold to adults for \$3 and to students for \$2. If the total receipts were \$824 and twice as many adults tickets as students tickets were sold, then how many of each were sold? please show work Click here to see answer by rfer(13569)

 Question 192634: How can \$54000 be invested, part at 8% annual simple interest and the remainder at 10% annual simple interest, so that the interest earned by the two accounts will be equal Click here to see answer by Earlsdon(6294)

 Question 200554: 96. Amount of an Investment The amount of an investment of P dollars for t years at simple interest rate r is given by A = P + prt a) Rewrite this formula by factoring out the greatest common factor on the right-hand side. b) Find A if \$8300 is invested for 3 years at a simple interest rate of 15%. Click here to see answer by Earlsdon(6294)

 Question 200709: The money that we earn from the tickets is not supposed to to be more that 120% of 484013,92\$. Their are 2000 seats for the concert.These seats are divides in 3 categories:A,B,C. In the categorie B,there are 600 more seats than in the categorie A. The nomber of seats in the categorie C is the double of the nomber of seats in the categorie A. The consert is for 7 days and new poeple come every day. Each day,a ticket is ready to be sold for each seat. We see that only 3/5 of the tickets for each categorie will be sold. The minimum price of a ticket is 20\$. The price of a ticket in the categorie B is 15\$ more than the ticket for the categorie C. The ticket for the categorie B has to be equal to the half of a ticket of the categorie A. How much money do we earn from the sold tickets? Click here to see answer by rfer(13569)

 Question 200703: TAB2 need help on word problem 1.Investing her bonus. Donna invested her \$33,000 bonus and received a total of \$970 in interest after one year. If part of the money returned 4% and the reminder 2.25% then how much did she invest at each rate? 2.Tickets for a concert were sold to adults for \$3 and to students for \$2. If the total receipts were \$824 and twice as many adults tickets as students tickets were sold, then how many of each were sold? please show work Click here to see answer by checkley77(12569)

 Question 201205: I need help finding the formula to solve this word problem. The members of a flying club plan to share equally the cost of a \$200,000 airplane. The members want to find five more people to join the club so that the cost per person will decrease by \$2000. How many members are currently in the club? Click here to see answer by jim_thompson5910(29613)
 Question 201205: I need help finding the formula to solve this word problem. The members of a flying club plan to share equally the cost of a \$200,000 airplane. The members want to find five more people to join the club so that the cost per person will decrease by \$2000. How many members are currently in the club? Click here to see answer by solver91311(18785)

 Question 201266: Suppose you invest \$3000 in an account that pays 5.9% interest compounded continuously; After 7 years the account will be worth? To the nearest tenth of a year, it will take ______ years for the money in the account to double. Click here to see answer by vleith(2825)

 Question 201287: Find the future value of an annuity with weekly deposits of \$12.00, made over a period of five years, with 3.8% interest compounded weekly. Click here to see answer by rfer(13569)

 Question 201467: If Javier has a handful of of coins consisting of dimes,nickles and pennies making a total of 2.63 how much of each coin does he have.. so far what I have is n= nickles p=pennies and d=dimes. The amount of nickles is 1 less than twice of pennies= 2p-1 and the amount of dimes is 3 more the amount of nickles= 2p-1+3d I don't know how to start its..I've tried writing it out like this: .05x(2 (2(.01)x)-1+.10x 2(.01x)-1+3(.10)=2.63 Click here to see answer by Alan3354(34677)

 Question 201569: I need help with this word problem - A bank rober holds upa bank and tells the teller to hand over all her \$100 bills and \$500 bills. THe teller gave him 8 more \$100 bills than \$500 bills. If he gets away with \$6,200, how many of each bill did the teller give him? Click here to see answer by Earlsdon(6294)

 Question 201585: Use the compound interest models A=P(1+r/n)^nt and A=Pe^rt to answer this question. Suppose you want to invest \$5000. What investment yields the greater return over 5 years: 4.5% compound quarterly or 4% compound continuously? How much more, to the nearest dollar, is yielded by the better investment? PLEASE HELP. Click here to see answer by jim_thompson5910(29613)

 Question 201806: Amar, Bhavan, Chetan and Dinesh have a total of Rs.150 with them. Amar has one-fourth of the total amount with the others. Find the amount with Amar (in Rs.)? Click here to see answer by vleith(2825)

 Question 201786: Ali deposites \$1750.00 in a registered account on march 1st 1988 at 10% compounded quarterly.Subsequently the interest rate was changed to 12% compounded monthly on september 1st,1990 and to 11% compunded semi-annually on june 1st,1992.What will the value of the deposit be on december 1st,1998,if no further changes in interest rates are changed? Click here to see answer by rfer(13569)

 Question 201923: Please Help: Find the compound amount for the deposit. Round to the nearest cent. \$300 at 7% compounded quarterly for 2 years A) \$310.59 B) \$343.47 C) \$342.00 D) \$344.66 Click here to see answer by jim_thompson5910(29613)

 Question 202002: Brianna had \$800 to invest last year She invested some in a garanteed 8% intrest account she put the rest in a riskier account and lost 4% on the investment if by the end of the year she had made \$28 as a result of both investments how much did she invest in each account Click here to see answer by rfer(13569)

 Question 202025: Mike invested \$7000 for one year. He invested part of it at 8% and the rest at 12%. At the end of the year he earned \$764 in interest. How much did he invest at each rate? please help. Click here to see answer by stanbon(60771)
 Question 202025: Mike invested \$7000 for one year. He invested part of it at 8% and the rest at 12%. At the end of the year he earned \$764 in interest. How much did he invest at each rate? please help. Click here to see answer by rfer(13569)

 Question 202127: Use the compound interest formula A=P(1+r/n)^nt to find approximately how many years an investment of \$14,000 will accumulate to \$42,000 if it earns 8% compounded quarterly. thanks. Click here to see answer by stanbon(60771)

 Question 202251: For P 100, I can buy 4 chicken pies and 12 banana cakes, or 5 banana cakes and 10 chicken pies. How much does one of each kind cost? Click here to see answer by RAY100(1637)

 Question 202319: How long would it take a \$3000 investment to double if it is invested at 7% compounded semiannually. Rounded to the nearest tenth of a year. Click here to see answer by stanbon(60771)

 Question 202380: if \$1,00 is deposited in a bank account that pays 4% interest compounded annually, what is the balance of the account after 5 years Click here to see answer by dyakobovitch(40)

 Question 202505: if Grace invested \$6000 semi-annually in corporate bonds, beginning March 31 1990. If the yield is 8% compounded semi-annually, determine the amount of the bond on October 1st 1992 Click here to see answer by rfer(13569)

 Question 202761: I'm having trouble with this problem and I need a little help with it: Investing \$1000 in two investments yielding you a one-year return of \$75. If one of the investments was a bond fund with a guranteed 4% rate of return, and you invested an equal amount in both, what was the rate of return in the second investment? Here are the answers I have to choose from: 11% 10.5% 3.5% 12% and I'v been trying to solve it with this formula :1000(1+r)=? Click here to see answer by rfer(13569)
 Question 202761: I'm having trouble with this problem and I need a little help with it: Investing \$1000 in two investments yielding you a one-year return of \$75. If one of the investments was a bond fund with a guranteed 4% rate of return, and you invested an equal amount in both, what was the rate of return in the second investment? Here are the answers I have to choose from: 11% 10.5% 3.5% 12% and I'v been trying to solve it with this formula :1000(1+r)=? Click here to see answer by stanbon(60771)

 Question 202803: 7% sales tax included in receipts of 462.24. what was the sales tax collected? Click here to see answer by rfer(13569)
 Question 202803: 7% sales tax included in receipts of 462.24. what was the sales tax collected? Click here to see answer by Earlsdon(6294)

 Question 203038: A computer is on sale for \$1600, which is a 20% discount off the regular price. What is the regular price? Click here to see answer by RAY100(1637)

 Question 203103: Debbie plans on investing enough money so that she will have \$2000 at the end of two years. How much money wll she have to invest now if her money will grow according to the followning formula: 2000=P(1.025)^4? When I work this problem I seem to come up with 0=0 2000=P(1.025)^4 1.025^4=1.103812891 I don't understand. Click here to see answer by jim_thompson5910(29613)

 Question 203151: I need help finding the formula and how to work this problem. The members of a traveling club plan to share equally the cost of \$150,000 motor homw. If they can find 10 more people to join and share the cost, then the cost per person will decrease by 1,250. How many members are ther initially in the club? I know c=150,000/x or c=150,000/x+10 I think. Thanks Click here to see answer by stanbon(60771)

 Question 203211: Mario collects a commission for bringing in advertisers to his magazine company. He receives 8% on \$450 full page ads and 5% for \$300 half page ads. If he sells twice as many half page as full page ads and his commission was \$5610, how many of each type did he bring in? Click here to see answer by rfer(13569)

 Question 203346: 41,000 people attended a ballgame at a stadium that offers two kinds of seats: general admission and reserved. The day's receipts were \$340,000. How many people paid \$14.00 for reserved seats, and how many paid \$5.00 for general admission? Click here to see answer by Earlsdon(6294)

 Question 203359: Hollis is paying off two student loans. One loan charges 7% interest per year. The other loan charges 9% interest per year. He owes \$1500 more on the 7% loan than he does on the other. Last year he paid a total of \$617 interest. How much does he owe on each loan? Click here to see answer by stanbon(60771)

 Question 203407: Sara just has just rented her first apartment starting December 1 before beginning college in January. The apartment has washer and dryer hook-ups so sara wanted to buy the appliances to avoid trips to the laundomat. The saturday newspaper had an advertisement for a local appliance store offering 90 days same as cash financing sara asked how the financing worked and learned that she could pay for the washer and dryer anytime during the first 90 days for the purchase price plus sales tax,If she waited longer she would have to pay the purchse price, plus sales tax plus 26.8% annual simple interest for the first 90 days plus 2% simple interest per month on the unpaid balance after 90 days, with the minimum payments of 50.00 per month after the 90 day period. Together the washer and dryer cost 699plus the 8.25% sale tax. Sara knew that her tax refund from the IRS would be 1,000 so she bought the washer and dryer confident that she could pay off the balance within the 90 days. 1. If Sara pays off the balance within 90 days how much will she pay? 2. If sara bought the washer and dryer on December 15 using the exact interest, what is her deadline for paying no interest in a non leap year. in a leap year? Is finance company likely to use exact or ordinary interest and why? 3. If sara irs refund does not come until April 1 what is her pay off amount ( Assume ordinary interest and in a non leap year? 4. How much did it cost her to pay off this loan 17 days late ? What annual simple interest rate does this amount to? Click here to see answer by rfer(13569)

 Question 203420: Deon Brown purchases a municiple bond for \$2000. The bond earns an annual simple interest rate of 6.4%. How much must Deon invest in an account theat earns 8% annual simple interest so that both investments will earn the same amount of interst in a year? Click here to see answer by rfer(13569)

 Question 203460: Debbie pays 15% of her taxable income of \$34,200 in taxes. How much of her income will go to education and social service? Click here to see answer by checkley77(12569)

 Question 203682: Gary invested one-third of his insurance settlement in a CD that yielded 12%. He also invested one-third in Tara's computer business. Tara paid Gary 15% on his investment. IF Gary's total income from these investments was \$10,800 for one year, then what was the amount of his insurance settlement Click here to see answer by rfer(13569)
 Question 203682: Gary invested one-third of his insurance settlement in a CD that yielded 12%. He also invested one-third in Tara's computer business. Tara paid Gary 15% on his investment. IF Gary's total income from these investments was \$10,800 for one year, then what was the amount of his insurance settlement Click here to see answer by MathTherapy(1817)

 Question 203664: After getting a 15% discount on the price of a new Chrysler Sebring convertible, Helen paid \$27,000. What was the original price of the convertible to the nearest dollar? Click here to see answer by rfer(13569)

 Question 203980: Hello: My question is the following: If the quarterly interest at 10.5 percent is \$3,150 then what is the principal amount of the loan? Thanks in advance for your help. Click here to see answer by Theo(3556)

 Question 204085: Please help me with this problem: Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated. R = \$100, i = 0.03, n = 15 Click here to see answer by feliz1965(151)

 Question 204084: Please help me with this problem: Find the future value of the ordinary annuity. Interest is compounded annually, unless otherwise indicated. R = \$2500, i = 7%; interest compounded quarterly for 16 years Click here to see answer by feliz1965(151)

 Question 204176: The amount Estella invested in a 6% savings is \$3500 less than the amount she invested in a 10% savings account. At the end of the year,she received \$75o in simple interest. Find the amount invested in each account? I think you set the probelm up like this .06(x-3500).10+x=1500? Can anyone confirm this? Click here to see answer by ankor@dixie-net.com(16524)