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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 295715: Sammy, grossed $535 in 1 week by working 48 hours. The second person, Martin, grossed $587 in 1 week by working 52 hours. Time-and-a-half is paid for all hours worked in excess of 40 hours. Which person earns more per hour?
Click here to see answer by faceoff57(82)

Question 295777: Andy deposited a total of $2100 in two accounts, a savings account and an investment
account. The savings account yields interest at an annual rate of 5%, and the investment
account yields interest at the annual rate of 6.5%. The total interest after one year
was $123. Determine how much Andy deposited in each account.
Click here to see answer by JBarnum(2044)

Question 295933: how long, to the nearest year, will it take an investment to triple if it is continuously compunded at 5% per year?
Click here to see answer by nerdybill(7008)

Question 295981: 37.50 mark down a 20% off sale whats original price?
Click here to see answer by richwmiller(9144)

Question 296279: I have a question that is in parts, I tryed to solve it but I think I am doing something wrong could some one please help me out?
1a. Jim wants to put money away for retirement, he puts $1,000 in the bank a year at 5% compounded annually, for 35 years how much interest would he earned?
My answer is after 35 years he would have $94,835.97 -$35,000 = $59,835.97 I am not sure if this is right.
1b. Jim wants to change and put $1,500 away a year for 35 years at 8% compounded annaully for 35 years.
my answer is after 35 years he would have $240,515.31 I am sure this is wrong I do not know where I made my mistake.
1c. Jim was amazed at how much he could save in this manner and decided to design a detailed saving plan based on projected yearly increases, He relialized that he could start depositing $1,500 now, but that he would be able to deposit more than that in the furture. If he were able to deposit $1,000 at the end of the year for the next 5 years at 8% compounded annually,$1,500 at the years 6 - 10 at 8% compounded annually, and $2,000 at the end of years 11 - 35 at 5% compounded annually, how much would he accumlate at the end of 35 years? assume that any balances from earlier depositing periods would continue to earn the same rate of annual interest. Use the tables for furture value of annuties.
1d. By how much does the result differ from the amount calculate above for $1,500 deposited for 35 years? What accounts for the differnce?
1e. If Jim decided that he wanted to have $300,00 accumulated in 30 years by making an annual payment at the end of each year that would earn 12% compounded annually, what would his sinking fund payment be? Use the appropriate table to determine the answer.
I would like to say thank you in advance for helping me, and I will surely be so very greatful for the help. I am almost done in this class. Thank you once again for useing your free time to help me with this problem.

Click here to see answer by richwmiller(9144)

Question 296875: Question: A new car that sells for $18,000 depreciates 25% per year. Write a function that models the value of the car. Find the value of the car after 4 yr.- All I have is a formula and im not sure how to use it -Pert... the way that i work it out i put the "principle" for P, then type the number "e" then the ^ button and .25 * 4 so it ends up looking like this in the caluclator:
18000e^(.25*4) and i get 18000 still....its driving me nuts and my teacher doesnt explain it well..HELP!!
Click here to see answer by scott8148(6628)

Question 297013: If $5000 is invested in an account that pays interest compounded continuously, how long will it take to grow to $11,300 at 5.5%?
Click here to see answer by stanbon(57967)

Question 297625: you have $22 in your ank account and deposit $11.50 each week. At the same time your cousin has $218 but is withdrawing $13 each week.When will your accounts have the same balance?
Click here to see answer by richwmiller(9144)

Question 298108: how do I work this problem?
Ronald wants to buy a shirt that is on sale for 15% off the regular price. The regular price of the shirt is P dollars. Which expression represents the sale price of the shirt?

Click here to see answer by Earlsdon(6294)

Question 298124: Use A=P(1+r)^t to find the interest rate r. round to the nearest hundreth, if necessary.
$8000 (P) grows to $8487 (A) in 2 years (t). Assume that interest is compounded annually.
I am lost on this problem.... I know that it is 8487=8000(1+r)^2
8487/8000= (1+r)^2
then I get really confused on this step. please help.
Click here to see answer by solver91311(17077)

Question 298203: Jack earned twice as much as Mary and Jill earned $8 more than Mary. Who made the most money?
Can this be answered with the information provided above? Thanks.
Click here to see answer by amoati(11)

Question 298519: What is the total surface area of the Great Pyramid? . It has a square base that measures 754 feet on each side and a slant height of 611 feet.
Click here to see answer by checkley77(12569)

Question 298611: tracy has $4,300 in his savings account. the money in the account earns 4.6% interest each year. Assuming he makes no deposits, how much money will he have in his account at the end of the year?
Click here to see answer by Jeff Gordon(65)

Question 298618: art needs to put $1,200 into a teller's drawer. he puts 25 twenty dollar bills, 30 ten dollar bills, 24 five dollar bills, 50 one dollar bills, 80 quarters, 100 dimes, 80 nickels, and 50 pennies. how much more does he need to complete his task?
Click here to see answer by Jeff Gordon(65)

Question 298615: forty five people cashed check at bank A on monday. of these, 80% already had accounts at bank A. one-third of the people who did not already have an account opened an account on monday. how many people opened an account on monday?
Click here to see answer by Jeff Gordon(65)

Question 298607: sam has a savings account that increased in value over a twelve month period from $8765.00 to $9006.04. He made no deposits or withdrawls during this time. What percent interest did he receive for the twelve month period?
Click here to see answer by mananth(12270)

Question 299074: I have been asked to analyze the cost of renting space for a team of programmers, graphic artists, and mathematicians to develop new slot machines. The cost, C (in dollars), of renting the office space is given by the function C(x) = 0.95x + 350, where x is the number of hours the building has been rented. Answer the following questions, and be sure to show work on the steps for calculating:
What is the cost to rent the building for 400 hours?
If the cost of renting the building is $1,000, how many hours was the building rented?

Click here to see answer by stanbon(57967)

Question 299163: in a recent election between an incumbent and one opponent, the incumbent won by a ratio of 7 to 6. If the opponent won 30594 votes, how many votes did the incumbent win?

thanks for all your help
Click here to see answer by Deina(147)

Question 299488: Jose bought a suit on sale for 584 . This price was 27% less than the original price.
Click here to see answer by missgigid(8)

Question 299565: A woman made a deposit of $205. If her deposit consisted of 73 bills, all $1 bills or $5 bills, then how many $1 bills did she deposit?
Click here to see answer by mananth(12270)

Question 300742: I need help solving this problem:
The grocery store we use does not mark prices on its goods. my wife went to this store and bought 5 packages of bacon and 3 cartons of eggs and paid a total of 18.52. i also went to the store and bought 3 packages of bacon and 5 cartons of eggs and paid a total of 14.92. now we want to return 3 packages of bacon and 3 cartons of eggs. how much will be refunded?
Click here to see answer by mananth(12270)

Question 300978: I need help with this word math problem.
In a collection of nickels, dimes, and quarters, there are twice as many dimes as nickels, and fewer quarters than dimes. If the total value of the coins is $4.50, how many of each type of coin are there?
Click here to see answer by solver91311(17077)

Question 301214: Lydia has money in two savings accounts. One rate is 6% and the other is 14%. If she has $950 more in the 14% account and the total interest is $318, how much is invested in each savings account?
Click here to see answer by mananth(12270)

Question 301235: In 2005, consumers received, on average, 3253 spam
messages. The volume of spam messages per consumer
is decreasing exponentially with an exponential
decay rate of 13.7% per year.
a) Find the exponential decay function that can be
used to predict the average number of spam messages,
, t years after 2005.
b) Predict the number of spam messages received
per consumer in 2010.
c) In what year, theoretically, will the average consumer
receive 100 spam messages?

Click here to see answer by ankor@dixie-net.com(15746)

Question 301399: 3. Mr. Anderson wants to invest $15,000 into two accounts. The interest rate on both accounts is 8% and 11% respectively. How much does he invest in both if he wants $1500 in total interest.
Click here to see answer by checkley77(12569)

Question 301425: How long does it take $1,150 to double if it is invested at 9% interest compounded monthly? Round your answer to the nearest tenth.
Click here to see answer by nerdybill(7008)

Question 301588: Suppose that $4000 is invested at an interest rate of 5.5% per year, compounded continuously. what is the balance after 8 years?
Click here to see answer by nyc_function(2733)

Question 301736: a total of $10000 was invested in to simple intrest accounts for one year. the first account has an 8% intrest rate, the second account has a 9% intrest rate. if the total intrest of the 2 accounts in one year was $840 how much was invested in each account
Click here to see answer by JBarnum(2044)

Question 301722: If interest is compounded continuously and the interest rate is tripled, what effect will this have on the time required for an investment to double?
Click here to see answer by stanbon(57967)

Question 301824: Jon and Lauren have a combined income of $48,000. Lauren earns $3000 more than half of what Jon earns. Find the individual income of each.
Click here to see answer by rfer(12730)

Question 302157: A rug is to fit in a room so that a border of even width is left on all four sides. If the room is 16 feet by 24 feet and the area of the rug is 153 square feet, how wide will the border be?
Click here to see answer by scott8148(6628)

Question 302153: Please help, I don't even know where to start on this one......Thank you!

Taylor has 15 bills of $5 dollars and $10 dollars. Their total value is $105 dollars. Find the number of the $5 dollar and $10 dollar bills that Taylor has.
Click here to see answer by mananth(12270)

Question 302765: A total of 608 tickets were sold for the school play. There were 58 more student tickets sold than adult tickets. How many adult tickets were sold?
Click here to see answer by checkley77(12569)

Question 302801: A woman deposits $50,000 in a savings account with 4% continuously compounded interest. How many years must she wait until the balance has doubled?
Click here to see answer by solver91311(17077)

Question 302896: Find the amount of time it will take to double an investment of $12,000, compounded continuously at 2.5% interest.
Click here to see answer by solver91311(17077)

Question 303306: suppose you invest $1500 in an account paying 4.75% interest. Find the account balance with the interest compounded annually,semi-annually, and quarterly.
Click here to see answer by nyc_function(2733)

Question 304114: A catering company charges $550.00 for 20 guests and $775.00 for 35 guests. What is the cost per person.
Thanks

Click here to see answer by dabanfield(803)

Question 304118: Movie tickets are 8.00 each and concert tickets are 12.00 each. Andrew spent a total of 100.00 on movie and concert tickets. Write an equation to represent the the total cost for movie and concert tickets
Thanks
Click here to see answer by stanbon(57967)

Question 304341: The Budget CD Club offers members a savings of 18% on all CD purchases for yearly membership fee of $34. What is the total amount that a member will need to spend during the year on CD's for the saving to equal the yearly fee?
Click here to see answer by checkley77(12569)

Question 304576: Henry invested $12,000.00 in a new restaurant. When the restaurant was sold two years later, he received, $27,000.00. find the average annual return by solving the equation 12,000 (1 + r)^2=27,000
Click here to see answer by nerdybill(7008)

Question 304749: a woman earns 15% more than her husband. Together they make 968,875 anually. Find the annual salary of the husband.
Click here to see answer by mananth(12270)

Question 304733: how many dollars do you have to spend to acquire the amount of yen required? The availability is 100,000 yen.
I took 100,000 x 1-month forward at .009048 & came up with $948.00 - is this correct??
Your assistance is greatly appreciated!!
Thx,
Monica
Click here to see answer by Alan3354(31530)

Question 304868: Soybean Oil is 16%protein; cornmeal is 8% protein. How many pounds of each should be mixed in order to get a 320 pound mixture that is 15% protein? How many pounds of cornmeal and how many pounds of soybean?
Click here to see answer by checkley77(12569)

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