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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 32400: a bank teller has some 5 dollar bills and some twenty dollar bills. The teller has 10 more of the 20's. The total value of the moey is 775. how many 5's are there?
Click here to see answer by mukhopadhyay(490)

Question 32387: Yet another brain cramp! I figured out the answer, but the exact equation to get there escapes me. A man invests $6,000 at a certain rate and $8,000 at a rate that is 1% less than twice the rate at $6,000. If the total income from both investments is $1,240, find the rate of each investment. I got 6 % and 11% respectively, but I guessed, checked and revised. My daughter needs an equation. Thanks in advance.
Click here to see answer by mukhopadhyay(490)

Question 32412: Please help me or show me the process on how to get the percentage...
Click here to see answer by checkley71(8403)

Question 30630: (1) Brown's gross pay is $127.50 per week. He works 30 hours a week. How much does Brown earn per hour?
(2) one week, Brown has only three deductions: Federal withholding tax of $15.94, State withholding tax of $5.10, amd F.I.C.A of $8.03.How much do these three deductions total?
(3)After these three items are deducted, what will Brown's net pay be?
(4) The employees where Brown works have a new contract for an 11% raise. What will be his gross pay after 11% raise? ( answer requires rounding to the hearest cent)
(5) Brown must pay a 6% F.I.C.A. Tax on his new gross pay. How much will be left in his pay after this F.I.C.A is deducted? ( use answer #4 above).
Click here to see answer by checkley71(8403)

Question 32527: Two years after an expansion, a company had sales of $42,000. Four years later the sales were $102,000. Assuming that the sales in dollars S and the time in years t are related by a linear equation, find the equation relating S and t.

Click here to see answer by stanbon(57282)

Question 32639: Darrell has 2$ less than five times as much money as Bob. Mary has as much money as Darrell and Bob put together. If all three of them together have 80$, how many money does Mary have?
Click here to see answer by stanbon(57282)

Question 32657: The cost of building a house increases 26 percent every year. If it costs $93,000 to build a house this year, what would it cost to build a house next year?
I have the answer on the back of my worksheet, I just can't figure out how to get it. I tried to work it out three times and I keep getting it wrong. The answer is $117,180 but every time I try I get it wrong.
Click here to see answer by mukhopadhyay(490)

Question 32992: BUYING CONPUTERS. A student who can afford to spend up to $2000 see the ad below:
“ BIG SALE !!!! (shows a picture of a computer, monitor, keyboard) < $1,695.95 All CD-ROMs $19.95 “
If she decides to buy the computer, find the greatest number of CD-ROMs that she can also purchase. (you can disregard sales tax)
I already figured the answer to be 15 CD-ROM's can be purchased, but I have a hard time with the set up of the formula....Can you please assist me?
Thank you.
Please breal down in a explaination form if possible?
Thank you

Click here to see answer by stanbon(57282)

Question 33003: A commonly asked question is, "How long will it take to double my money?" At 10% interest rate and continous compounding, what is the answer?
The base amount should be $10,000 and the compounding rate is 2.7183.
Click here to see answer by xcentaur(357)

Question 33005: on 1/5 a stock loses 25% of it's previous days value the next day 1/6 it gains 25% of the previous days value if the stock is worth 2500 on 1/6 what was it worth on 1/4?
Click here to see answer by xcentaur(357)

Question 33132: I looked to see if any questions were like mine, I found one or two, but they had so much more information in them and it was a little confusing. So here is my question Thank You!
Question:
Dave Invested $17,000, part at 18% and part at 4%. If the total interest at the end of the year is $1,380, how much did he invest at each rate.
Thank You,
Trinia

Click here to see answer by Earlsdon(6287)

Question 33156: Norma invested the start-up capital for her Internet business in two hedge funds. After one year one of the funds returned 5% and the other returned 6% for a total return of $5880. If the amount on which she made 6% was $10,000 larger than the amount on which she made 5%, then what was the original amount of her start-up capital?
Click here to see answer by mukhopadhyay(490)

Question 33295: Citibank's 7% rate means April must spend $6.66 per $1000 of her mortgage each month, and TCF Bank's 6.5% rate means she will spend $6.32 per $1000 each month. Citibank also charges 3 points while TCF charges none. April needs an $80,000 mortgage. How long will it take for both mortgages to be equal?
Am I correct with 6.66x +3 = 6.32x + 0 =80,000
Click here to see answer by stanbon(57282)

Question 33243: Norma invested the start-up capital for her Internet business in two hedge funds. After one year one of the funds returned 5% and the other returned 6% for a total return of $5880. If the amount on which she made 6% was $10,000 larger than the amount on which she made 5%, then what was the original amount of her start-up capital?
Click here to see answer by Fermat(127)

Question 33361: An amount invested at 10% compounded semiannually will double in ten years. I believe this problem is true. Am I right?
Click here to see answer by stanbon(57282)

Question 33590: Ms. Jordan has been given a loan of $2500 for 1 year. If
the interest charged is $275, what is the interest rate on the loan?
Click here to see answer by priya(51)

Question 33601: In the period of a year, and investor lost twice as much as he gained.If he originally had $10,000.00 and now has $8,000.00 what amount did he gain and what did he lose?
Click here to see answer by checkley71(8403)

Question 33158: A circular swimming pool with a diameter of 30 ft and a horizontal bottom contains 22,000 gal of water. What is the depth of the water in the pool? (one cubic foot contains approx. 7.5 gal of water)
Click here to see answer by kietra(57)

Question 33722: please! could you help me again in these problems and i can no twork out these.
Items 26 and 27 are based on the following information.

Bank credit cards are a convenient and a popular method of payment. Annual interest rates for purchases that have been made with bank credit vary, however. In New York, bankA charges 10% interest, bank B 15% interest, bank C 16% interest, and bank D 18% interest. In addition, each bank charges a $ 25 annual fee for its card.

1) Bud charged a $588 couch on his card from bank B. If he pays for the couch in a year, how much interest will he pay?

2) Maria charged $29 and $84 on her card from bank D. If she plans to pay her balance in three months, what is the total she must pay?

From your poor students

Click here to see answer by Nate(3500)

Question 32737: A person has the option of satisfying a debt by either paying $5000 now and $5000 in 2 years, or by paying $3000 now, $3000 a year from now, and a final payment of x dollars in 2 years from now. Determine the amount of final payment if the interest rate is 8% compounded quarterly?
Thank you!
Click here to see answer by Nate(3500)

Question 29947: The ratio of a mans federal income tax to state income tax is 11 to 5. If the man pays a total income tax 30,000, how much was paid to the federal government and how much was paid to the state? Can you show all of the work. Thanks for your help
Click here to see answer by stanbon(57282)

Question 33737: If four years of college is expected to coast $135000 10 years from now, how much must be deposited now into an account that will average %4 annually in order to save the $135000?
Click here to see answer by stanbon(57282)

Question 33747: Calculate the NPV(Net Present Value) for a project costing $250,000 which will then provide $25,000 annually for 25 years. The discount rate is 5%. What would the NPV be if the inflows were $20.000 annually for only 20 years?
Click here to see answer by venugopalramana(3286)

Question 33745: Prizes are often not "worth" as much as claimed. What is the real value of a prize of $5,000,000 which is to be received in equal payments over 20 years, with the first payment beginning today? Assume an interest rate of 5% over the 20 years.
Click here to see answer by venugopalramana(3286)

Question 33779: One type of cat food recommends that a cat have a daily serving of 1/3ounce of dry cat food per pound of body weight. If a cat is fed 3 2/3 ounces of dry food a day according to these recommendations, how many pounds does the cat weigh?
Click here to see answer by Nate(3500)

Question 33825: 1. when the monthly finance charge is 1 1/4 percent what is the annual rate.
do i take the percent amount and x it be 30 for the month

2. if you borrow $3.000 for 24 months to buy a car and pay $137.50 per month what is the finance charge.

Click here to see answer by stanbon(57282)

Question 33234: The techniques for solving linear equations and linear inequalities are similar, yet different. Explain and give an example of both a linear equation and a linear equality that demonstrates this difference.
Thank you so much for all your help!
Denise

Click here to see answer by kietra(57)

Question 34156: Help me with this in a hurry please? I need it explained all problems algebraically please?

INVESTMENT CLUBS: Part of $8000.00 was invested by an investment club at 10% interest and the rest at 12%. If the annual income from these investments is $900.00, how much was invested at each rate?
Thank you so much!!
Click here to see answer by venugopalramana(3286)

Question 34316: Give an example of using the distributive property for a negative monomial times a trinomial with different signs on the terms [for example: -3x(2xy + 3y – 2x)] and show each step of the distribution. Why do you think many students make sign errors on this type of problem? What would be your advice to a student who has trouble with the signs?
Can you help me with this please?
Thank you
Click here to see answer by venugopalramana(3286)

Question 34417: A man goes into a grocery store and buys a grapefruit and a toy ball. A 7% tax is applied to the price of non-food items. If the total bill is $5.15, including $0.18 in tax on the toy ball, what are the prices of the grapefruit and the ball?
Click here to see answer by checkley71(8403)

Question 34426: A university bookstore recently sold a wirebound graph-paper notebook for $2.50, and a college-ruled notebook for $2.30. At the start of spring semester, a combination of 50 of these notebooks were sold for a total of $118.60. How many of each type were sold?
Click here to see answer by checkley71(8403)

Question 34425: A bricklayer and an electrician together spend 90 hours working on a new house. If the bricklayer earns $12 per hour, the electrician earns $16 an hour, and the owner pays them a total of $1350 for their work, how many hours does each worker spend on the house?
Click here to see answer by checkley71(8403)

Question 34424: A shopper buys three oranges and five lemons for $10.26, while a second shopper buys four lemons and six oranges for $11.16. What is the price of each fruit?

Click here to see answer by hydromojo(20)

Question 34420: Walt made an extra $9000 last year from a part-time job. He invested part of the money at a 9% annual rate of interest, and the rest at an 8% annual rate of interest. At the end of the year, he made a total of $770 in interest. How much was invested at 8%?
Click here to see answer by hydromojo(20)

Question 34418: On the first day of school, the percentage of boys in a particular class is 60%. During the school year, six girls move away, and are replaced in the class by six boys; this makes the class roster 75% boys. Find the number of boys and girls in the class on the first day of school.
Click here to see answer by stanbon(57282)

Question 34483: A man has 3 times as much money invested in 12% bonds as he has in stocks paying 9%. If his yearly income from the investments is $2,700, what is his total investment is?
Click here to see answer by stanbon(57282)

Question 33993: I GAVE YOU THE WRONG E-MAIL FIRST THIS IS THE RIGHT ONE
CAN YOU PLEASE HELP
1. WHAT IS THE MONTHLY PAYMENT ON AN ADD ON INTEREST LOAN, IF $6,000 IS BORROWED AT 10 PERCENT FOR 12 MONTHS/
2.AT THE AVERAGE COST 6.5 CENTS PER KILOWATT HOUR, FIND THE WEEKLY COST OF OPERTING 4 HOURS EACH DAY A TV USES 200 WATTS PER POWER
Click here to see answer by checkley71(8403)

Question 34818: Myra Smart invests in two companies. The ivestments yields 5% and 8% interest respectively and she earns $510 annually. Find the amount currently contained in each account if she invests 2/3 as much in the first account as in the second.
this is the eqation i have so far
2x(.05)/3+.08=510
Click here to see answer by checkley71(8403)

Question 34870: Jorge Martinez has budgeted $150 to have business cards printed. A card printer charges $11 to set up each job and an additional $6 per box of 100 cards printed. What is the greatest number of cards Mr. Martinez can have printed? <<
Click here to see answer by stanbon(57282)

Question 34971: usually I'm ok with figuring out problems that have to with money. Except in this word problem: Aimee calhoun invested $12,500, part at 7% simple interest and part at 6% simple interest for a period of 1 year. How much was invested at each rate if each account earned the same interst?
Click here to see answer by checkley71(8403)

Question 34973: Here's another word problem having to do with interest: Sharon Sledge invested 20,000, part at 5% and part at 7% simple interst for a period of one year. How much was invested in each account if the interest earned in the 7% account was $440 greater than the amount invested in the 5% account?
Click here to see answer by checkley71(8403)

Question 34981: a company's monthly sales of $50,00 result in $6,000 profit, while monthly sales of $70,000 result in $9,000 profit. If profit is considered as a linear function of sales, what minimum amount of sales is needed to avoid a loss?
i found the slope which was 3/20 and i substituted that in y=mx + b giving me
y=3/20(50,000)+b
then i got y=7500+b
then i substituted 6,000 for y and got -1500=b
my equation then being y=3/20x-1500
i have no idea if this is right or if it is what is being asked for
thank you
Click here to see answer by checkley71(8403)

Question 35041: Compound Interest. I know the formula and have my teacher's answer to this quesion but
cannot get from one to the other. Frustration has reached its peak!
Here's the problem with the answer:
If you invest $500 at an annual rate of 10% compounded quarterly for 20 years, you will earn $3,104.78 in interest and have a total of $3,604.78.
The formula (as I understand it to be): A=p(1+r/n)(nt) or A=500(1+.1/4)4(20) or A=500(1.025)80 or
(please stick with what I'm thinking and tell me what is wrong...) or A=500 times 1.025 times 80
or (after I multiply those three figures together) A=410,000 - obviously not the $3,104.78 in
interest as figured by my teacher. I'm not a total dummy, but this I cannot figure out. Any help would be GREATLY appreciated! Thank you in advance (and again later).
Click here to see answer by hydromojo(20)

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