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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 305212: Mr. Chan buys y postcards at $2 each and (y + 1) other postcards at $5 each. If he spends $54 altogether, find the value of y.
Click here to see answer by mananth(12270)

Question 305270: I sold property for $9000.00 at 10 % interest with the payments at $550.00 a month. how long will it take them to pay it off and how much interest will I make.
Click here to see answer by josmiceli(9817)

Question 305631: I have a word problem I can not figure out how to set up. Hope you might be able to help.
Lisa invested in corn. She lost 5% of her investment, costing her $110. What was her initial investment?
Click here to see answer by richwmiller(9144)

Question 306024: If a bank pays 4.4% interest compounded continuously, how long does it take to triple the original amount?
Here's what I tried:
y = a(1 + r)^t
3a = a(1 = 4.4) ^ t.
I solved for t by first dividing by a, then using the property of equality for logarithms and came up with .65142 but I don't understand the answer. If t represents the time period, what is it? 65% of one year??
Or did I work it wrong?
Thank you!
Click here to see answer by themathtutor2009(81)

Question 306121: i you need to give a customer $7.94 in change, what is the least number of dimes you should give the customer as part of the change?
Click here to see answer by rfer(12731)

Question 306282: marcus invested a sum of money at 5%.he invested an amount of $250 more than the first amount at 6%. if the annual income from both investments totaled $59, how much did he invest at each rate?

if i set my problem up like this is it correct?
.05x+.06x+15=59 i got an answer of x= 400
if this is not correct could you help me set it up?
Click here to see answer by Earlsdon(6294)

Question 306555: Roberto invested some money at 7%, and then invested $2000 more than twice this amount at 10%.
His total annual income from the two investments was $3980. How much was invested at 10%?
Click here to see answer by mananth(12270)

Question 306554: Mardi received an inheritance of $60,000. She invested part at 10% and deposited the remainder in
tax-free bonds at 8%. Her total annual income from the investments was $5800. Find the amount
invested at 10%.
Click here to see answer by checkley77(12569)

Question 307040: Anne purchased a new truck for $16,500. She sold it 6 years later for $3,700. Find the annual rate of depreciation on the truck.

Thanks
Click here to see answer by jim_thompson5910(28717)

Question 307076: Store A sells a product with a 15% discount and an additional $90 off of the list price. Store B sells the same product at a 25% discount with no additional discount. After all discounts, the price at Store A is $15 less than at Store B. What is the list price for the product at Store A?
Here is what I have so far. I don't know if I am on the right track, or where to go from here. Thanks.
A = x - (0.15 * x) - 90
B = y - (0.25 * y)
A = B - 15
x - (0.15 * x) - 90 = y - (0.25 * y) - 15
0.85x - 75 = 0.75y
(now what?)
Click here to see answer by Theo(3504)

Question 307562: The selling price of a car plus 8%sales tax = 15,714.00. What is the selling price?
Click here to see answer by checkley77(12569)

Question 307575: it will cost 4500 to produce the school play. if tickets cost 12 each how many tickets does the school need to sell to make a 1,500 profit?
Click here to see answer by sierra1367(1)

Question 307709: Given a cost of $180,000 and a salvage value of $30,000, using the Straight-Line method what would the Book Value be at the end of the 7th year given a useful life of 15 years?

Click here to see answer by rfer(12731)

Question 307883: $2000 earning 5.5% interest compounded daily for 3 years
Click here to see answer by mananth(12270)

Question 307882: $300 earning 4.5% interest compounded quarterly for 3 years
Click here to see answer by mananth(12270)

Question 307881: $720 earning 6.2% interest compounded semiannually for 5 years
Click here to see answer by mananth(12270)

Question 308783: Martin purchased company ABC's stock and invested the balance in his money market account. ABC's stock yielded 10% last year and his money market account yielded 7% last year. If Martin's initial investments amount to $21,000 and the annual income is $1680, how much money is invested in stock and how much is invested in his money market account?
Click here to see answer by stanbon(57984)

Question 309370: Find the lump sum deposited today that will yield the same total amount as this yearly payment (made at the end of each year for 20 years at the given interest rate, compounded annually).
$10,700 at 8%
Click here to see answer by nyc_function(2733)

Question 309586: you invest $2,000 at 8.5% interest compounded continuously. how long will it take for the account balance to reach $5,000?
Click here to see answer by nerdybill(7009)

Question 309835: What amount of money should you invest today, at 6 1/8% simple interest per year, in order to yield a future value of $8,500 at the end of two years and three months?

Click here to see answer by stanbon(57984)

Question 310050: please help, I don't know how to do this: find the value of $2500 invested at 4.5% annual interest for 10 years if interest is compounded quarterly, continuously
Click here to see answer by rfer(12731)

Question 310262: how long would it take a money to double if it is invested at 7 % compounded daily? 8.3 % compounded continuously ??
Click here to see answer by nerdybill(7009)

Question 310448: The sales price of a car is $12,590, which is 20% off the original price. What is the original price?
Click here to see answer by josmiceli(9817)

Question 310669: how much money would i have to put in a cd to draw $500 a month joinnow2000@aol.com
Click here to see answer by Fombitz(13828)

Question 310669: how much money would i have to put in a cd to draw $500 a month joinnow2000@aol.com
Click here to see answer by solver91311(17077)

Question 310595: At the end of the day, a storekeeper had $1144 in the cash register, counting both the sale of
goods and the sales tax of 4%. Find the amount that is the tax.
Click here to see answer by ankor@dixie-net.com(15747)

Question 311384: One-twelfth of all sales at the diner is for cash. If cash sales for the week were $240 what were the total sales?
Click here to see answer by Miceandwine(15)

Question 311415: 750 is what percent of 900
Click here to see answer by Miceandwine(15)

Question 311414: A trip to the Rocky Mountains of colorado from Denver will take 1 3/4 hours. Assuming we are 1/3 of the way there, how much longer in hours will the trip take?
Click here to see answer by josmiceli(9817)

Question 311525: Patricia's bill for one year of college is $24,500. The tuition charge costs $4,000 more than room and board costs. This bill also includes $500 for fees and other charges. How much is the yearly tuition charge.
I would like to see this in equation form
Click here to see answer by ankor@dixie-net.com(15747)

Question 311604: sue invested 19800in two mutual accounts one earned 6% and one earned 10% at the end of the year the total amount of interest earned was 1.492 how much did she invest in each fund
Click here to see answer by mananth(12270)

Question 311101: Please help me solve this:
A theater has 600 tickets to sell for a show. Of these tickets, 225 sell for $2 more than the others. If all tickets are sold and $2250 is taken for the show, what price is each type of ticket?
Thank You!
Click here to see answer by scott8148(6628)

Question 311642: a total of $8000 is invested into two simple interest accounts. On one account the annual simple interest rate is 9%; on the second account the annual simple interest rate is 7% How much should be invested in the 7% account so that the total interest earned is 8.5% of the total investment?
Click here to see answer by mananth(12270)

Question 311781: find the exact interest for $600 at 8% for 45 days.(round to the nearest cent.)
Click here to see answer by unlockmath(1614)

Question 311786: Bob has a very old car that he;d like to replace. The old car costs $250 each month for repairs, $120 for each month for gas, and $60 each month for insurance. A friend is willing to sell him a reliable used car for $7800. In addition to the price of the car, this used car will cost $90 each month for gas and $80 each month for insurance. If Bob buys the used car, how long will it take before he beings to save money on car expenses. Assign a variable.
Please help, I can not come up with a logical equation for this question. Thank you
Click here to see answer by ankor@dixie-net.com(15747)

Question 311863: How do you solve this word problem concerning interest?
Gilbert invested part of his $10,000 bonus in a CD that paid 6% interest, and the rest in a fund that paid 11% interest. If his total interest was $900, how much did Gilbert invest in the fund?
Click here to see answer by checkley77(12569)

Question 311839: find the exact interest on a loan of $33,000 at 8% annually for 25 days.
Click here to see answer by checkley77(12569)

Question 312093: How much money should Sheila invest in an account that earns 8% annual interest compounded monthly in order to have $4,000 in 5 years?
Click here to see answer by solver91311(17077)

Question 312241: how many years will it take for an amount of money to double when it is compounded annually by a 4.3% interest rate?
Click here to see answer by nerdybill(7009)

Question 312241: how many years will it take for an amount of money to double when it is compounded annually by a 4.3% interest rate?
Click here to see answer by mananth(12270)

Question 312448: Need a little help here. Thanks!
If $5000 is invested at 4% how long will it take John to triple his investment if the compounding is continuous at the same rate?
Click here to see answer by solver91311(17077)

Question 312480: My investment of $12,500 was deposited in a local bank. The bank offered 5 3/4% compounded daily. The investment will remain at the bank for 11 years. What is the maturity value of the investment?
Click here to see answer by solver91311(17077)

Question 312477: If i intend to set up an annuity for 25 years with payments of $250 invested monthly. Interest at 3.75% will be compounded monthly. What will the value of the annuity be after 25 years?
Click here to see answer by ankor@dixie-net.com(15747)

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