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

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Question 242465: My problem is regarding "demand equation" or demand curve. Here is the word problem:
Suppose that a market research company finds that at a price of p=$20, they would sell x=42 tiles each month. If they lower the price to p=$10, then more people would purchase the tile, and they can expect to sell x=52 tiles in a months time. Find the equation of the line for the demand equation. Write your answer in the form p=mx+b. (Hint:Write and equation using tow points in the form (x,p)).
I understand that this involves the slope formula y=mx+b. I just do not know where to go from there.I do not know how to get the numbers for m and b. If anyone could help me to get started, that would be great.
If possible, please provide a step by step solution, so that I may use it for a study guide.
Thank you.
Click here to see answer by solver91311(16872)

Question 242632: A compact disc costs $350 which is $5 more than twice the cost of an audio tape
Click here to see answer by nyc_function(2733)

Question 242723: during one month, a homeowner used 400 units of electricity and 150 units of gas for a total cost of $76.50. the next month, 450 units of electricity and 100 units of gas were used for a total cost of $78.50. find the cost per unit of electricity.
Click here to see answer by blwinbbbles(106)

Question 242729: If I invest $400 at 3% compound quarterly for 4 years how much money will I have?

Click here to see answer by checkley77(12569)

Question 242832: A pharmaceutical salesperson's annual income depends on the amount of her sales. Her annual income is a salary of $18500 plus 12% of her annual sales. Write a linear equation for her annual income for sales of x dollars (I=mx+b)
Click here to see answer by oberobic(2304)

Question 242842: how much money you will have after 35 years when you invest $25 per month at an intrest rate of 5% (annuity).
Click here to see answer by nyc_function(2733)

Question 242995: If you invest $9,000 today, how much will you have in 25 years at 14 percent (compounded semiannually)?
Click here to see answer by Alan3354(30993)

Question 243161: Mr. Alvarez, Mr. Brown, and Mr. Chen are partners in a buisness that generated $500,000 in profits. You know Mr. Alvarez owns 40% of the buisness and that Mr. Chen has received 175,000 of the profits.
Find the amount of the profits that Mr. Alvarez and Mr. Brown should receive
Click here to see answer by Theo(3458)

Question 243339: Colin invested 10,000, part at 14% and part at 17%. If the total interest at the end of the year is 1,490, how much did he invest at 14%?
Click here to see answer by checkley77(12569)

Question 243374: Please help me with this problem. A grocery store sells certain candies in bulk. The Good and Plenty cost $2.49 per pound and Sweet Treats cost $2.89 per pound. If Jane Strange takes 3 scoops of Good and Plenty and mixes it with 5 scoops of Sweet Treats, how much per pound should the mixture sell for? Assume each scoop contained the same weight of candy. Thankyou if you can help me as I am stuck on this.
Click here to see answer by stanbon(57278)

Question 243373: Please help me solve this problem. I cannot figure it out no matter how I hard I try. Interest of $322 is needed from 2 saving accounts. The total amount invested is $7600. Some is invested at 5% and the rest is invested at 4%. How much is invested at each rate? Thankyou if you can help.
Click here to see answer by stanbon(57278)

Question 243625: The Leos invested part of $12,000 at 4% simple interest per year and the rest at 6% simple interest per year. The total interest for one year was at most $640. Find the least amount that could have been invested at 4%.
Click here to see answer by checkley77(12569)

Question 243855: A movie ticket for an adult costs $7.50 and a childs costs $5.00. A total of 172 tickets are sold for a given show. If $1,170 is collected for the show, how many adults and how many children attended the show?
Click here to see answer by nyc_function(2733)

Question 243838: Find the amount of each payment that must be made into a sinking fund to accumulate
each amount. (Recall, in a sinking fund, payments are made at the end of every interest
period.)
6500; money earns 8% compounded annually; 6 annual payments
Click here to see answer by Theo(3458)

Question 244100: If you have $300 dollars, what is 15% of it?
Click here to see answer by checkley77(12569)

Question 244297: what is the intrest earned after 18 months 0n 3500 at a yearly rate of 6.5%
Click here to see answer by rfer(12654)

Question 244452: If an investment of $8000 increases by 15 percent at the end of each year, what is the fewest number of years until it doubles in value?

Click here to see answer by Edwin McCravy(8889)

Question 244495: You have $2.90 in change made up of only pennies, dimes and nickels. You have twice as many dimes as nickels and twice as many pennies as dimes. How many pennies, dimes and nickels do you have?
Click here to see answer by richwmiller(9135)

Question 244842: Sara and Elizabeth went shopping together. They both bought some dress shirts that cost $25.00 apiece and t-shirts that cost $10.50 apiece. If Sara bought 3 more dress shirts than Elizabeth and they both bought 4 t-shirts, how many dress shirts did Sara buy if together they spent $309.00 (w/o any tax) on these items?
Click here to see answer by richwmiller(9135)

Question 244918: a businessman invested different amounts at 8%,8.75% and 9%, all simple annual interest. altogether he has invested php400,000 and earns php34,550 per year.how much has he invested at each rate if he has invested php40,000 more at 9% than 8%?
Click here to see answer by stanbon(57278)

Question 245564: Suppose you have been hired at an annual salary of $24,000 and expect to recieve an annual increase of 4%. What will your salary be for your fifth year of work?
Click here to see answer by checkley77(12569)

Question 245802: An IRS auditor randomly selects 3 tax returns (without replacement) from 47 returns of which 5 contain errors. What is the probability that she selects none of those containing errors?
Click here to see answer by edjones(7569)

Question 245838: recently, the cost of four 21-oz boxes of cinnamon life cereal was $17.16. What was the cost of one box?
Click here to see answer by College Student(505)

Question 245997: Dr. Fox borrowed $2,500 for 1 year. If the interest charged is $275, what is the interest rate on the loan?
Click here to see answer by checkley77(12569)

Question 245801: Two marbles are drawn without replacement from a box with 3 white, 2 green, 2 red and 1 blue marble. Find the probability. At least one of the marbles is red.
Click here to see answer by scott8148(6628)

Question 246250: A bacteria culture initially contains 2000 bacteria and doubles every half hour. The formula for the population is p(t)=2000e^kt for some constant(k) . (You will need to find (k) to answer the following.)

Find the size of the baterial population after 80 minutes?

Find the size of the baterial population after 6 hours?

Click here to see answer by nerdybill(6951)

Question 246247: 5000 dollars is invested in a bank account at an interest rate of 10 per cent per year, compounded continuously. Meanwhile, 36000 dollars is invested in a bank account at an interest rate of 5 percent compounded annually.
To the nearest year, When will the two accounts have the same balance?

Click here to see answer by TheProdicalSon(33)

Question 246251: The rule of 72 states that if an investment earns p % interest per year, it will take approximately 72/p years for your money to double.
You invest 4000 at 4.3 % interest annually.
According to the rule of 72, what is the doubling time, in years, for this investment
Use the doubling time to find a formula for v(t) , the value of your investment at time t v(t)?
According to the doubling time, how much will your investment be worth after 32 years?
Use the compound interest formula to find how much the investment will be worth after 32 years?
You may notice that your two values for the investment's worth after 32 years are different. That is because the doubling time you found with the rule of 72 is only an approximation. If the approximation were better, the two values would be the same
Click here to see answer by Theo(3458)

Question 246661: Suppose that $40000 is invested at 9% interest. Find the amount of money in the account at 7 years if the interest is compounded continuously.
Click here to see answer by nerdybill(6951)

Question 247104: Akhil wants to invest Rs 2,500 every year for a period of 6 years so that he can receive Rs.18,000 at the end of tenure.What is the interest rate at which he should invest?
Click here to see answer by Theo(3458)

Question 247142: the parents club wants to sell buttons to raise money for the local community center sports program. the buttons are 70 cents each, and they bought 1,100 of them.
how much total profit will they make if the charge $4.00 for each button and sell all of the buttons?
Click here to see answer by checkley77(12569)

Question 247210: If I want a fund of $30,000 in 14 years earning 5% quarterly interest... how much do I need to deposit now? How would I go about setting up this equation?
Click here to see answer by richwmiller(9135)

Question 247336: Bryan invests $4000 in a savings account that pays 5% compounded annually. How much will be in the account at the end of 3 years?
Click here to see answer by checkley77(12569)

Question 247333: If $28000 is borrowed at 7% for one year how much is the interest?
Click here to see answer by checkley77(12569)

Question 247527: ray has 20 dollars she spend 10 what is a fraction that she has left.
Click here to see answer by checkley77(12569)

Question 247592: It takes Jake 5 minutes longer to wash the dishes than it takes Adrienne when she washes the dishes alone.l Washing the dishes together, Jake and Adrienne can finish the job in 6 minutes. How long does it take Jake to wash the dishes by himself?
Click here to see answer by ankor@dixie-net.com(15645)

Question 247844: A trust fund of $45,000 was divided into three parts in the ration of 2:3:4, and the parts were invested at 4%, 5% and 6% annual rates of simple interest, respectively. How much total interest income did the money earn after one year?
Click here to see answer by checkley77(12569)

Question 248124: I invested part of my 10,000 bonus in a cd that paid 6% interest and the rest in a fund that paid 11% interest. The total interest was 900, how much did invest in the fund?
Click here to see answer by tutorcecilia(2152)

Question 248196: help please
On sale, Jose got a 10% discount on the original price, but a 10% tax was added to the selling price. Did Jose pay an amount equal to original price?
Click here to see answer by richwmiller(9135)

Question 248263: How much intrest is earned in 3 years on $3500.00 in an account paying 6% interest compounded quarterly
Click here to see answer by stanbon(57278)

Question 248843: A salesperson has two job offers. Company A offers a weekly salary of $200 plus commission of 10% of sales. Company B offers a weekly salary of $400 plus commission of 5% of sales. What is the amount of sales at which Company A's offer is the same as Company B's?
Click here to see answer by oberobic(2304)

Question 248842: at the end of four years a company will put 400,000.00 into investment paying 9% per year. how much will be invested after the fourth year? if the company kept up the investment plan for 7 years instead of four how much would be in the account at the end of the seventh year?
Click here to see answer by stanbon(57278)

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