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 224002: Hell my name is Teri and I have been stuck on this problem forever.
Problem:
Phyllis invested 54,000 dollars, a portion earning a simple interest rate of percent 4% per year and the rest earning a rate of 6% per year. After one year the total interest earned on these investments was 2760 dollars. How much money did she invest at each rate?
At rate 4%-
At rate 6%-
* I know the equation for finding simple interest is Interest= (Principal)x(Rate)x (Time) but I have no idea what to do when you know all the parts for the equation.
I would appreciate any help! Thank you for your time.
Click here to see answer by ankor@dixie-net.com(6684)

Question 224095: you invest $2,500. If you maintain a balance of $2,500 for a whole year, your interest rate will be .50%. How much will your balance be at the end of the year.
Click here to see answer by rapaljer(3610)

Question 224130: What amount would parents of a 5-year-old boy need to deposit into an account today, so that they will have $150,000 for their child’s college tuition 14 years from now? The money will receive 8.1%, compounded every-other-month? Round off to 2 decimal places.

Click here to see answer by nerdybill(2446)

Question 224155: the local theater charges $8 for adult and $5 for children. at the noon performance, there were twice as many children as adult and the total money collected was $576.how many children attended the show?
Click here to see answer by checkley77(7032)

Question 223885: Sue make twice as much as Tom. if their total salaries is $78,000. Find the salaries of each.
I did the problem but I not sure if it's right. $78,000 divide by 2 equals $3900. Then I divide $39,000 by 2 equals 19,500.
Would the $19,500 be the right answer?
Click here to see answer by ankor@dixie-net.com(6684)

Question 224313: (((A stamp collection consists of 3, 8 and 15 cent stamps. The number of 8 cent stamps is one less than triple the number of 3 cent stamps. The number of 15 cent stamps is six less that the number of 8 cent stamps. The total value of all the stamps is $2.47. Find the number of 8 cent stamps in the collection.)))
I have tried every way I can think of to make an equation to solve this problem. I have been unable to do so. If I could get some help to come up with an equation for this problem I would be most grateful.
Click here to see answer by stanbon(26249)

Question 224476: Dara invested some money at 3% simple interest and $6000 more than that at 4.5% simple interest. After 1 year her total interest from the two accounts was $870. How much did she invest at each rate?
Click here to see answer by checkley77(7032)

Question 224579: a business purchaseda new van for $27,500. after 5 years it's depreciated vaule is $12,000. assuming a straight line depreciation write an equation of the line giving the value V of the van in terms of the age X of the van.
Click here to see answer by Edwin McCravy(2920)

Question 224572: Jody invested $5000 less in an account paying 4% simple interest than she did in an account paying 3% simple interest. At the end of the first year, the total interest from both accounts was $675. Find the amount invested in each amount invested in each account.
Click here to see answer by checkley77(7032)

Question 224660: a total of $4,500 is invested in two funds that pay 4% and 5% simple intrest. the annunal intrest is $210.00. how much is invested in the fund paying 4% interest?
Click here to see answer by checkley77(7032)

Question 224731: i need help with this word problem:
You and Chris divide up some money to yourselves for your work. you and chris have done the most work. it is agreed that you should get 1/2 of the money, chris should get 1/3, leaving the rest for robin.
what part of the pay does robin get?
how many more dollars did you recieve then robin recieved?
how much more is your pay then chris's?
how much more is you pay then robin's?
Click here to see answer by rtp1986(2)

Question 224964: suppose you start saving today for a $20000 down payment that you plan to make on a house in 10 years. Asssume that you make no deposits into the account after your intial deposit. For each account described, how much would you have to deposit now to reach your $20000 goal in 10 years? An account with daily compounding and an APR of 4%
Click here to see answer by rfer(2683)

Question 225340: I don't understand how to set up the following story problem. Can you help me please? I have been lookin g at it for hours.
A person sold 120 itmes in x+2days. If he sold at the same rate for a seven day week, how many items did he sell during the seven days?
Click here to see answer by ankor@dixie-net.com(6684)

Question 225401: Nancy Johnson invested $18,000. Part of it was invested at 3% annual simple interest, and the rest was invested at 4%. Her interest income for the first year was $650. How much did she invest at each rate?
This is what I tried: 3x + 4y = 650;
y=18x
3(18y) + 4y = 650
54y + 4y = 650 = 58y =650, y=11.206896
I got lost from there because when that would make X something not nice. Please help me?
Click here to see answer by rfer(2683)

Question 225408: your friend works as a waitress at alocal resturaunt. her income consists of an hourly wage plus tips. on wednesday your friend earned $25 in tips over a 5 hour period. on friday your friend earned $30.76 in tips over a 3 hour period. how much is your friends hourly wage if your friend earned the same amount of money on wed. as on friday

Click here to see answer by rfer(2683)

Question 225520: Robert invests $8000 in a bank. Part is invested at 7% simple interest and part at 9% simple interest. In one year Robert earns $660 in interest. How much did he invest at each amount?
Click here to see answer by solver91311(5069)

Question 225461: Jim invested $1000 in a bank savings account. The bank pays him 5% annually, that is, for every dollar invested he would get $1.05 next year. How much would Jim have 2 years from now?
Click here to see answer by checkley77(7032)

Question 225538: Robert invests $8000 in a bank. Part is invested at 7% simple interest and part at 9% simple interest. In one year Robert earns $660 in interest. How much did he invest at each amount?
Click here to see answer by rfer(2683)

Question 225605: tom's family is planning a 7-day trip to texas. they want to spend time in both san antonio and dallas. they estimate that it will cost $275 per day in san antonio and $400 per day in dallas. Their budget for the 7 days is $2300. How many days should they spend in each city?
275x+400y=2300
?
Click here to see answer by checkley77(7032)

Question 225843: ECE Board November 1999/2000 In a box, there are 25 coins consisting of quarter, nickels and dimes with a total amount of $2.75. if the nickel were dimes ad the dimes were quarters and the quarters were nickles, the total amount would be $3.75. how many quarters are there? note:Nickel = 5cents, dime = 10 cents and quarter = 25 cents.
Click here to see answer by ankor@dixie-net.com(6684)

Question 226393: A buyer of tv sets wishes to maintain a markup of 37 1/2% after all mark-downs are taken. Of 25 sets costing $150 each, he sells 20 at $265.
How much can he mark-down the remaining 5 sets and still realize his mark-up objective?
Click here to see answer by Theo(667)

Question 226991: How do I solve this question and what is the concept of solving Cost, Income, and Value Problems?
Question: "A collection of 60 dimes and nickels is worth $4.80. How many dimes are there? (Hint: In your equation, use 380cents instead of $3.80."

Thank you.
Click here to see answer by vleith(1977)

Question 227605: what equation could help me solve this problem??
Briana and her sister Molly both want to buy the same model bicycle. Briana needs $73 more before she can afford the bike. Molly needs $65 more. If they combine their money, they will have just enough to buy one bicycle that they could share. What is the cost of the bicycle?
Click here to see answer by ankor@dixie-net.com(6684)

Question 227777: My daughter just started 1st grade, I want to have 50,000 in a college fund when she graduates High school. (June) How much would I have to deposit now to reach my goal? getting 8% interest compounded monthly?
thanks
Click here to see answer by nerdybill(2446)

Question 227785: If I borrow $10,000 at the interest rate of 3.99% for 5 years compounded monthly How much will it cost in interest to pay the loan off in 5 years.

P=r*t
10,000*3.99/12
I=0.3325/12
A=10,000(1+.00277)^60

Click here to see answer by rfer(2683)

Question 227831: This is a question given on my assignment and I have no idea where to go with it. Given information: A loan company offers money at 1.8% per month, compounded monthly and the nominal rate is 21.6%. How many years will it take an investment to triple itself if the nominal interest is compounded continuously?
Click here to see answer by nerdybill(2446)

Question 227859: if you deposit $5,000 in an account paying 9% compounded daily, how much will you have in the account in 5 years? Compute the answer to the nearest cent.
Click here to see answer by rfer(2683)

Question 228046: A sweater is on sale for 1/3 off the regular price. If the sale price is $36, what is the regular price? Show equation.
Click here to see answer by rfer(2683)

Question 228131: How do i calculate interest on $800 at 15% for 4 1/2 years?
If I change 15% to a decimal, do I have to do the same for years?
Thanks
Click here to see answer by checkley77(7032)

Question 228154: Suppose you have a cellular phone in which you have committed to spend less than $30 on each monthly bill. Your rate plan costs $20 a month and includes 30 free minutes. Each additional minute costs $0.40. Set up and solve an inequality to determine how many minutes you may use each month to keep your bill under $30.
Click here to see answer by stanbon(26249)

Question 228339: Joni received $24,000 as part of a settlement in a class action lawsuit. She invested some money at 10% and the rest at 9% simple interest rates. If her total annual income from these investments was $2,274, how much did she invest at each rate?
Click here to see answer by checkley77(7032)

Question 228446: Five hundred tickets were sold for a certain performance of a play. The tickets for adults and chidren sold for $7.50 and $4.00, respectively, and the total receipts for the performance were $3312.50. How many of each kind of ticket were sold?
Click here to see answer by mangeshpjoshi(15)

Question 228602: respected sir,
plz help me to solve my math difficulty.
How much interest will $2400 earn at an annual rate of 8% in one year if the interest is compounded every 4 months?
waiting for yur reply.
thank u.
regars
binita
Click here to see answer by rapaljer(3610)

Question 228604:
A small company had $24,000 to invest. It invested some of the money in a bank that paid 8% annual simple interest. The rest of the money was invested in stocks that paid dividends equivalent to 11% annual simple interest. At the end of 1 year, the combined income from these investments was $2,340. How much was originally invested in stocks?
Click here to see answer by checkley77(7032)

Question 228840: Paul Bought a student discount card for the bus. The card cost $7 and allows him to buy daily bus passes for $1.50. After one Month, Paul Spent $29.50.
How many daily bus passes did paul buy?
Click here to see answer by rfer(2683)

Question 228909: In a kennel, a cocker spaniel, a bulldog, and a greyhound all give birth to litters. The number of pups in the litters are consecutive integers (in the order: cocker spaniel, bulldog, greyhound.) The first integer increased by twice the second exceed the third by 10. How many poppies does each dog have? use the 5-step method.
Click here to see answer by stanbon(26249)

Question 228960: What would $575 at 2% bank interest rates be worth in 20 years
Click here to see answer by rfer(2683)

Question 229084: PLEASE HELP?!! i am studying for a test and im ready to cry... the twice is totally throwing me off.... a man invested twice as much money at 10% as he does at 8%. If his total interest is $224.00 how much does he invest at each rate?
Click here to see answer by solver91311(5069)

Question 229217: You invested $8000, part at 5% and part at 6%. The total interest earned in one year what $468. How much was invested at each rate?
Click here to see answer by checkley77(7032)

Question 229362: The question is-
I'm still saving for tuition and tucked away a bigger can full of nickles and quarters in the kitchen cupboard. When I cashed in the coins, the coin counter said I had a total of $240 from a total of 1400 coins. How many of each did I have in the can?
I know the formulas are-
x + y =1400
x(.25) + y(.05) =240
How do I get the formulas to work together?
Click here to see answer by checkley77(7032)

Question 229150: If the population of a country is 25000 and it increases by 10% each year. After how many years will the original population be doubled?
Click here to see answer by ankor@dixie-net.com(6684)

Question 229769: a family invested a portion of $5000 in an account at 6% annual interest and the rest in an account at 7.5% annual interest. The total interest they earned in the first year was $340.50. How much did they invest in each account?
Click here to see answer by checkley77(7032)

Question 229932: Margie is certain that every time she parks in the municipal garage it costs $2.10. If the garage charges 30 cents for each half hour, how long is margie's car parked ?
Click here to see answer by edjones(3291)

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