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 230263: if $1200 in a passbook savings account that generates. 3.6% interest compounded quarterly how much would your account be worth after 8 years?
Click here to see answer by checkley77(7032)

Question 230261: an account offers 4.5% interest compoundd annually. if you deposited $6000 in the account, what would be the account balance at the end of 15 years?
Click here to see answer by rfer(2683)

Question 230331: alessia is paid 1.4 times her normal hourly rate for each hour she works over 30 hours in a week. last week she worked 35 hours and earned $436.60. what is her normal hourly rate?
Click here to see answer by checkley77(7032)

Question 230476: you have $60 your sister has $135. Each week you save your allowance plus $5 but your sister spends the allowance plus $10. How many weeks before you have the same amount of money. What is the algebra equation for this we beg.

Click here to see answer by scott8148(3382)

Question 230839: Determine the yearly periodic deposit needed to reach a financial goal of $150,000 at a rate of 5% annually for a time of 18 years?
thank you!
Click here to see answer by rfer(2683)

Question 230895: Word Problem Six - A group of people come forward to claim a $1,000,000 lottery jackpot, which the winners are to share equally. Before the jackpot is divided, three more winning ticket holders show up. As a result, each person's share is reduced by $75,000. How many winners are there and what were their shares? (Show a complete algebraic solution for the problem and check the answer.)
Click here to see answer by stanbon(26249)

Question 231050: Hello,
Can you please help me figure out the following problem:
On December 31, 1995, a house is purchased with the buyer taking out a 30-year $90,000 mortgage at 9% interest compounded monthly. The mortgage payments are made at the end of each month. Calculate the amount of the monthly payment.

Thank you kindly,
David
Click here to see answer by Theo(667)

Question 231497: sally puts $200.00 in a bank account that earns 8% simple interest how much interest will be earned in 3 years?
Click here to see answer by josmiceli(3003)

Question 231540: A man invested $12,500. Part at 6%, part at 4.5%. How much did he invest at each rate if the total interest earned for the year was $685.50?
Click here to see answer by rfer(2683)

Question 231617: Jake buys oranges at 3 for 46¢. He sells them at 5 for 80¢. In order to make a profit of $1.00, how many oranges must he sell?
Click here to see answer by rfer(2683)

Question 231809: 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 231918: 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 checkley77(7032)

Question 231905:

A person wants to invest $7500. He decided to invest the part of money in Bank A at 6%
annual interest and the rest in Bank B at 9% annual intereest. For tax reason,
he only wants to earn $465 for year.
How much should he invest in each account?
PLZ give me answer in 8 hours. i've to submit my assignment.
Click here to see answer by checkley77(7032)

Question 232083: You have $2.00 in nickels and dimes. There are twice as many dimes as nickels, How many of each do you have?
Click here to see answer by Robb(9)

Question 232317: COMMISSION PROBLEM THE ANSWER IS 130,000 I cant seem to get it!
Frank makes 16,000 per year plus a 6% commission on all sales over $30,000. He wants to make more than $22,000 this year. How many dollars in sales must he achieve to make this salary goal? (I have to solve this using an inequality)
Click here to see answer by stanbon(26249)

Question 232379: I know that the answer to this word problem is $80 already. I just would like to see how the work is done:
The total cost for a dinner was $97.52. This included a 15% tip calculated on the cost of the dinner after a 6% sales tax. Find of the cost of dinner before the tip and tax.
Thank you!
Click here to see answer by ptaylor(1578)

Question 232455: faith invests $4,500 in an account that pays 4 percent simple interest. How much money will she have at the end of eight years?
Click here to see answer by rfer(2683)

Question 232587: alex bought a used car for $22,000. the value of the car will be less each year because of depreciation. the car deprediates (loses value) at the rate of 11 precent per year> find the value of the car in 10 years.
Click here to see answer by checkley77(7032)

Question 233287: A contest winner received one fourth of his winnings in cash, and received four prizes, each worth on fourth of the balance. If the cash and one of the prizes were worth a combined total of 35,000, what was the total value of his winnings?
Thanks
Click here to see answer by rfer(2683)

Question 233349: a parking meter accepts only quarters and dollars.there are 31 coins value of 20.50 how many quarters and dollars are there
Click here to see answer by Alan3354(6046)

Question 233367: Can someone help me how to slove this problem step by step. "John took out two loans totaling $6,000 to help pay for college expenses. One loan was at 8% simple interest, and the other was at 10%. After one year, the student owed $740 in interest. Find the amount of the loan at 10%.
Click here to see answer by solver91311(5070)

Question 233406: Find the buying price of an article which is sold for sh.108500 at a profit of 7%

Please help me...i have to know it now!!!!!
Click here to see answer by stanbon(26249)

Question 233486: Student loans totaled $2500. Part was made at 3% interest and the rest at 2.5%. After one year, Brandt had accumulated $97.50 in interest. What was the amount of each loan?
Click here to see answer by stanbon(26249)

Question 233474: The revenue for the sale of x items is determined by the formula R = 50 x – x2. The cost of producing x items is given by the formula C = 2x +40. For what value of x is the profit positive? (Profit = revenue minus cost)
Do I set it up like this ? 50x-x^2=2x+40
Click here to see answer by checkley77(7032)

Question 233997: Each month Mary has pocket money $z and saves $2/3(z-120). If her savings this month are $40, find the amount of her pocket money this month.
Click here to see answer by nyc_function(260)

Question 234163: please show me how to solve this word problem:
My dad earns $55000 a year. if he get a 20% annual raise for each year how much money will he have after 10 years assuming not spending any of his sallary?
Click here to see answer by nyc_function(260)

Question 234216: Calculate, to the nearest cent, the future value of an investment of $10,000 at 6.5%/year, compounded daily (assume 365 days/year) after 9 years
Click here to see answer by checkley77(7032)

Question 234215: the future value of an investment of $10,000 at 0.4% per month compounded monthly after 17 years
Click here to see answer by checkley77(7032)

Question 234235: #4 EllEN WISHES TO MIX CANDY WORTH $1.92 PER POUND WITH CANDY WORTH $3.11 PER POUND TO FORM 36 POUNDS OF A MIXTURE WORTH $2.48 PER POUND. HOW MANY POUNDS OF THE MORE EXPENSIVE CANDY SHOULD SHE USE?
Click here to see answer by solver91311(5070)

Question 234389: how long will it take to $200 to triple itself if it is invested at 2% simple interest?
Click here to see answer by stanbon(26249)

Question 234713: suppose that $9000 is invested at an interest rate of 5.4% per year, compounded continuously What is the doubling time?
I know that the equation is Pe^rt, but i am not certain about what exactly to do. i have the general idea, i am just not getting it.
Please Help!
Click here to see answer by stanbon(26249)

Question 234985: if three cans of corn cost you $8.00 how much will one gross cost you?
what dose gross mean?
Click here to see answer by nerdybill(2446)

Question 234985: if three cans of corn cost you $8.00 how much will one gross cost you?
what dose gross mean?
Click here to see answer by Alan3354(6046)

Question 234976: juanita and borrowed $4800 at a simple interest rate of 11% for a period of 2 years. what is the interest?
Click here to see answer by rfer(2683)

Question 235053: This problem is stumping me. I have tried to figure out how they come up with the answer with no luck. Any help is greatly appreciated.
Find the amount that results from the given investment.
$10 invested at 10% compounded continously after a period of 2 years. Round to the nearest cent.
Click here to see answer by Theo(667)

Question 235722: a blend of coffee has 60% of grade A and 40% of grade B, and is sold at 78 cents a pound. If the blend was 40% grade A and 60% grade B, the price would be 62 cents a pound. find the price of grade A per pound
Click here to see answer by ankor@dixie-net.com(6685)

Question 235795: The audio outlet purchased 60 cassette recorders, gave away three in a contest, and sold the rest of at twice their purchase price. If the store's total profit was $1188, how much did the store sell each recorder for
Click here to see answer by nyc_function(260)

Question 235395: Mary, Megan, and Molly sold magazine subscriptions to raise money for playground equipment/ Megan sold 9 more subscriptions than Mary. Molly sold 3 less than twice as many subscribtions as mary. If together they sold a total of 66 magazine subscriptions, how many subscriptions did each girl sell?
Click here to see answer by ankor@dixie-net.com(6685)

Question 235929: A commonly asked question is, “How long will it take to double my money?” At 7% interest rate and continuous compounding, what is the answer? Round your answer to the hundredth's place.
Click here to see answer by stanbon(26249)

Question 236060: You are selling cookies in school souvenir mugs to raise money for your school. You are taking orders so that you know how many mugs you will need to buy. There will be 6 cookies in a mug that will sell for $3.95 per order. You spent $50 on the ingredients to make the cookies plus you will need to pay $1.45 per mug. At least how many orders do you have to take so that you make more than what you spend?
Click here to see answer by stanbon(26249)

Question 236200: Doris invested some money at 7% and some at 8%. She invested $6000 more at 8% then at 7%. Her total yearly interest from both investments was $1080, how much did she invest at each rate?
Click here to see answer by checkley77(7032)

Question 236157: Layoffs looming. American Products plans to layoff 10% of its employees in its aerospace division and 15% of its employees in its agricultural division. If altogether 12% of the 3000 employees in these two divisions will be laid off, then how many employees are in each division?
Click here to see answer by checkley77(7032)

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