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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 376376: How do you solve:
What is the maximum amount you can borrow today if it must be repaid in 4 months with simple interest at 8% and you know that at that time you will be able to repay no more than $1500?
Thank you!
Click here to see answer by mananth(12270)

Question 376378: How do you solve:
How long would it take to double your money in an account paying 6% compounded quarterly? (Give answer in years plus days, ignoring leap years).
Thank you!
Click here to see answer by mananth(12270)

Question 376392: How do you solve:
If a fast food meal in 2006 cost $5.89, what is the estimated price in 2015 and 2025 if the inflation rate is 2%?
Thank you!
Click here to see answer by robertb(4012)

Question 376556: How do you solve:
If the amount of loan is $4500, the length of loan 3 years, and the interest rate 9%, how do you find the total interest?
Thank you!
Click here to see answer by rfer(12662)

Question 376689: How do you solve:
Assume you are investing in a retirement annuity earning 6% compounded monthly. If you begin investing $100 each month starting when you are 25, how much money did you put in the account if there is $199149.0734 in the retirement account when you are 65?
Thank you!
Click here to see answer by ankor@dixie-net.com(15656)

Question 377019: I apologize if this posted twice...but I don't think the first one went through.
Jane won $10,000. She plans to invest into two accounts one paying 5% interest and the other paying 7% interest. If she invests twice as much in the 7% account as she invests in the 5% account, how much interest will she earn in one year?
I couldn't figure out a way to use rPI so I divided 10,000 by 3, multiplied 3,334 by .05 and 6,666 by .07 to get $633 interest in one year.
Is this correct? Is there a "better" way to do this?
Click here to see answer by Edwin McCravy(8909)

Question 377330: After 4 years, what is the value of a car originally costing 30,000 dollars that depreciated at a rate of 0.1 per year?
Click here to see answer by robertb(4012)

Question 377402: # of kids all pay same amount to go on trip
Amount is 1800 total
Now 6 kids can't go
Those 6 all got money back
Now remaining kids have to pay 10 dollars more
How many kids are going on the trip?

Click here to see answer by robertb(4012)

Question 377310: How long will it take 1,000 dollars to double if it is invested at an annual rate of 5% compounded continuously?
Click here to see answer by robertb(4012)

Question 377708: Using I = PRT, find the missing value.
Principal:$2540 Interest:$285.75 Rate:x time:15 months

Click here to see answer by Fombitz(13828)

Question 377714: How long will it take for an investment of $1000 to double in value if the interest rate is 7.5% per year, compounded continuously?
Click here to see answer by robertb(4012)

Question 377713: find the balance in an account if $24000 is invested at an interest rate of 6.75% per year after 23 years if compounded quarterly, monthly and continuously
Click here to see answer by robertb(4012)

Question 377824: A stero system with an original price of $1099 is on sale for $749. Find the percent decrease from the original price.
Click here to see answer by rfer(12662)

Question 378064: a cashier has 20 bills, all of which are $10 or $20 bills. The total value of the money is $330. How many of each type does the cashier have?
Click here to see answer by richard1234(5390)

Question 336976: : Delta Software is considering a new project whose data are shown below. The equipment that would be used has a 3-year tax life, after which it will be worthless, and it will be depreciated by the straight line method over 3 years. Revenues and other operating costs are expected to be constant over the project's 3-year life. What is the project's operating cash flow during Year 1?
Equipment cost (depreciable basis) $75,000
Straight line depreciation rate 33.33%
Sales $60,000
Operating costs excl. depr’n $25,000
Tax rate 35%

Click here to see answer by dolly5567(1)

Question 378684: the simple interest for a loan at 8% for 4 years requires $320. how much interest is requirerd for a loan of the same amount of money if it is made at 9%for 5 years
Click here to see answer by scott8148(6628)

Question 379381: A woman paid $3,000 dollars in income tax last year. This was 15% of her total income. What was her total income?

Click here to see answer by robertb(4012)

Question 379444: Find the interest on $2500 invested for 5 years at 10% compounded quarterly.
I know that quarterly would be 3 or 4 times a year? I just need help to figure out how to set up this problem and then I can solve it. I just want to make sure I'm setting everything up right. Thanks!
Click here to see answer by rfer(12662)

Question 379496: The admission to a soccer game is $8.50 for adults and $5.50 for students. If 744 tickets were sold at a total price of $4527, how many tickets of each type were sold?
Click here to see answer by Fombitz(13828)

Question 379766: you deposit 6800 with a money-market with annual intrest rate of 5.7%. This intrest is compounded quaterly. How much will you have after three years?
Click here to see answer by Fombitz(13828)

Question 379977: If I put $10,000 in the bank.. and I'll get .15% profit each year. How much profit will I get, What will be my profit after a year.
Click here to see answer by stanbon(57361)

Question 380032: My couch potato friend enjoys sitting in front of the TV and grabbing handfuls of 4 chocolates at random from his snack jar. Unbeknownst to him, I have replaced one of the 18 chocolates in his jar with a cashew. (He hates cashews with a passion.)
How many possible outcomes are there the first time he grabs 4 chocolates?
1
How many of these include the cashew? 2
Click here to see answer by stanbon(57361)

Question 380034: Find the (theoretical) probability of the given event, assuming that the coins are distinguishable and fair, and that what is observed are the faces uppermost.
Six coins are tossed; the result is at most one head.
1
Click here to see answer by stanbon(57361)

Question 380203: if inflation is 6% per year, how many years will it take for the price of my car to increase from US$20,000 to US$4,000?
Click here to see answer by stanbon(57361)

Question 380415: when P dollars is invested at interest rate I, compounded annually, for T years, the investment grows to A dollars, where A=P(1+I)^T. find the interest rate I if 204,800 grows to 342,950 in three years
Click here to see answer by robertb(4012)

Question 380503: In 2003, the probability that a randomly chosen bag of cement from the world supply was consumed in the U.S. was .07, while the probability that it was consumed in China was .35. What is the probability that a randomly chosen bag of cement was consumed in neither country?
Click here to see answer by edjones(7569)

Question 380502: Use the given information to find the indicated probability. P(A ∪ B) = .3 and P(A ∩ B) = .1. Find P(A) + P(B).
P(A) + P(B) = 1Your answer is incorrect.
Click here to see answer by edjones(7569)

Question 380500: Use the given information to find the indicated probability. P(A ∩ B) = .1, P(B) = .2. P(A ∪ B) = .6. Find P(A).
P(A)
Click here to see answer by edjones(7569)

Question 380318: Please write equation for problem and solve
A friend deposits a total of $6,000 in two accounts, paying 3% interest and 4% interest respectively. If at the end of the first year the interest earned was $220, how much money was deposited in each account?
Click here to see answer by mananth(12270)

Question 380532: Compute the selling price of a product costing $630 when a 30% gross profit margin is desired
$819
$810
$900
$189
Click here to see answer by Fombitz(13828)

Question 380281: If you invest $9,000 today, how much will you have in 2 years at 9 percent?
Click here to see answer by Fombitz(13828)

Question 380548: Find the interest due on $600 at 9.5% for 120 days.

Click here to see answer by stanbon(57361)

Question 380546: Sarah Saver writes a $40 check which is returned by her bank with additional charges. If the company she wrote the check to, Johnson Plumbing, also charges $25 for returned checks, which of the following represents the amount Sarah must have to balance her debts?
Click here to see answer by stanbon(57361)

Question 380894: an executive invests 30,000,some at 10% and some at 5%. if she receives an annual return of 2200, how much is invested at 10%?
Click here to see answer by rfer(12662)

Question 380921: Determine the theoretical probability of the event that an applicant had a Math SAT in the range 500 - 599 or was admitted. (Round your answer to the nearest .01).
Math SAT
200-399 400-499 500-599 600-699 700-800 Total
Admitted 9 210 1124 2882 5309 9534
Not Admitted 687 3512 8689 12230 5150 30268
Total Applicants 696 3722 9813 15112 10459 39802
P(E) = 1
Click here to see answer by robertb(4012)

Question 380958: A retailer purchased 70 reams of typewriter paper for $9,730. At the end of the week, he found that there are still 13 reams left, the cost of which was $1,807. Find the cost of goods sold.
Click here to see answer by Theo(3464)

Question 381009: Cost of road service. Rick’s Automotive charges $50 plus $15 for each (15-min) unit of time when making a road call. Twin City Repair charges $70 plus $10 for each unit of time. Under what circumstances would it be more economical for a motorist to call Rick’s?
Click here to see answer by stanbon(57361)

Question 381160: $5000 compounded continuously at 5.5% will take how long to grow to $11,300?
Click here to see answer by neatmath(300)

Question 381423: If two indistinguishable dice are rolled, what is the probability of the event {(3, 3), (2, 3), (5, 3)}?
1
Click here to see answer by edjones(7569)

Question 381423: If two indistinguishable dice are rolled, what is the probability of the event {(3, 3), (2, 3), (5, 3)}?
1
Click here to see answer by robertb(4012)

Question 381487: if x minus 30 percent equals 245 then what is x? i cant figure this one out at all
Click here to see answer by ewatrrr(10682)

Question 381487: if x minus 30 percent equals 245 then what is x? i cant figure this one out at all
Click here to see answer by stanbon(57361)

Question 381478: On February 2, the stocks of USB Drug Store was recorded at $312,402. Goods purchased during the month amounted to $82,575. On March 1, the inventory stood at $271,860. What was the cost of goods sold in February?
Click here to see answer by ewatrrr(10682)

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