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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 429470: present value of $6000 if interest is 8.5% compounded quarterly for 7 years?
Click here to see answer by robertb(4012)

Question 429573: Suppose $500 is invested at 6% annual interest comounded twice a year. When will the investment be worth $1000? And how do you find this answer?
Click here to see answer by stanbon(57246)

Question 429743: If 5000 dollars is invested in a bank account at an interest rate of 4 per cent per year, compounded continuously. How many years will it take for your balance to reach 30000 dollars?
Click here to see answer by stanbon(57246)

Question 429980: You have an inheritance of $100,000. It is being invested in a Money Market account which is currently paying 4.65%, compounded monthly. How long would it take for you to allow this money to increase to a total of $250,000?
Click here to see answer by jorel1380(2518)

Question 430057: Jose has 22 coins totaling $4.10. If all of the 22 coins are either nickles or quarters, how many of each coin does he have? You must define the variable first and then solve for variable.
Click here to see answer by jorel1380(2518)

Question 430074: Please help, I don't understand how to find out their individual weight!
4 lb of peanuts and 3 lb of cashews cost $16.50, while 5 lb of peanuts and 7 lb of cashews cost $32.00. Find the cost per lb of each.
Click here to see answer by scott8148(6628)

Question 430125: man has $93000 invested in stocks at 8%. How much additional money should he invest in cd's at 4% so that the average return on the two investments is 5%?
Click here to see answer by mananth(12270)

Question 430150: Hi,
I'm having a hard time figuring out the following word problem, and I was hoping you could take the time to explain/ show me how to work it. Thanks in advance! :)
Part of the proceeds from a garage sale was $280 worth of $5 and $10 bills. If there were 20 more $5 bills than $10 bills, find the number of each denomination.
What I got out of it is the following:
Let F= $5 and T= $10
Then F= T+20
10T + 5(T+20)= 280
I'm fustrated and I can't figure out what I'm doing wrong. Thank You!!!
Click here to see answer by mananth(12270)

Question 430149: Part of $15,000 is invested at 8% annual interest, and the rest is invested at 6%. After one year, the accounts paid $1,000 in interest. How much was invested at the lower rate?
Click here to see answer by mananth(12270)

Question 430338: Attempting to fine the original cost of a product. If a product sold for $100.00, what was the cost if it was mark up 3.5 percent?
Need to know the formula to use to figure this out. I have a lot of products to do.
Thanks

Click here to see answer by rfer(12647)

Question 430358: As part of your retirement plan, you have decided to depostit 3000.00 at the beginning of each year into an account paying 5% interest compounded annually.
How much would the account be worth after 10 years?
How much would the account be worth after 20 years?
When you retire in 30 years, what will be the total worth of the account?
If you found a bank that paid 6% inrerest counpunded annually, rather than 5%, how much more would you have in the account after 30years?
Click here to see answer by rfer(12647)

Question 430720: Regular union employees earn $120/day, and union stewards earn $144/day. a company has a need for a total of 50 employees and has a daily payroll budget of $6072. how many of each employee will meet the company's needs and consume all the budget?
Click here to see answer by mananth(12270)

Question 430962: $1200 was invested in two accounts. The total interest accrued was $3500 in one year. If the annual rates of the accounts are 30% and 27.5% respectively, what was the amount invested in each account?
Click here to see answer by solver91311(16868)

Question 431340: If I need $4000 in four years and start saving $1000 today what rate of return would I need? 4000 = 1000(1 plus X)4 I tried 4000 plus 1 4001/1001 and got 4 I know the answer should be around 41 but not sure how to slove this equation.
Click here to see answer by mananth(12270)

Question 431448: Samantha works at a car dealership. She earns a 7% commission on cars that cost less than $10,000, and earns at 8% commission on cars $10,000 or more. If a customer buys a car for $12,500, what is Samantha's comission?

Click here to see answer by jorel1380(2518)

Question 431732: Ms. Riley deposited some money in an account paying 5% simple interest and twice that amount in an account paying 6% simple interest. If the total interest from the two accounts is 765$ for 1 year, how much was deposited into each account?
Click here to see answer by mananth(12270)

Question 431803: If an intrest rate is 4% that is aplied on $1500 how much intrested would be gained per month

Click here to see answer by shree840(260)

Question 431877: An investor had a total of 25,000 put into a portfolio of stocks, bonds, and mutual funds. In one year, he earned 8% on the stock investment, 10% on the bond investment and 6% on the mutual funds investment. The annual(simple interest) return was $1860. if the amount invested in the mutual fund was twice the investment in bonds, then how much did he originally put in each of the three individual investments?
Click here to see answer by mananth(12270)

Question 431993: A mother wants to invest 12,000.00 for her son's future education. She invests a portion of the money in a bank certificate of deposite (CD accouts) which earns 4% and the remainder in a savings bond that earns 7%. if the total intrest earned after one year is $720.00 how much money was invested in the CD accounts.
The total intrest earned after one year is $720.00. How much money was invested in the CD account?
Click here to see answer by jorel1380(2518)

Question 432116: Mario decided to invest his $620 tax refund rather spending it. He found a bank that would pay him 4% interest, compounded quarterly. Mario deposits the entire $620 refund and does not deposit or withdraw any other amount.
a. write an equation that models the growth of the investment.
b. how many years will it take for the initial investment to double?
Click here to see answer by solver91311(16868)

Question 432138: if you $200 into a simple intrest savings acount for 5 years and earn $60 in intrest what intrest rate did you earn?
Click here to see answer by jorel1380(2518)

Question 432566:
6. After 4 years, what is the total amount of an investment of $1500 in an account paying 2.5% interest, compounded quarterly?
Click here to see answer by ewatrrr(10682)

Question 432586: Investments: A total of $5000 is invested at 3% and 5% annual interest. After 1 year the total interest equals $210. How much money is invested at each interest rate?
Click here to see answer by jorel1380(2518)

Question 432613: Kyle plans to invest $7500.00, part at 4% simple interest and the rest at 5% simple interest. What is the most that can be invested at 4% and still be guaranteed at least $325.00 in interest per year?
Click here to see answer by jorel1380(2518)

Question 432700: Curt can be paid in one of two ways for the furniture he sells.
PLAN A: A salary of $900.00 per month, plus a commission of 10% of sales
PLAN B: A salary of $1200.00 per month plus a commission of 15% of sales in excess of $8000.00.

For what amount of monthly sales is plan B better than plan A if we can assume that Curt sales are always more than $8000.00?
Click here to see answer by josmiceli(9661)

Question 432879: final amount of the investment if $8000 invested at 6% compounded quarterly for 6 years
Click here to see answer by mananth(12270)

Question 433111: PLease show all steps and work show that i may have an idea as to how to solve the rest. Thanks in advance. I ahve no idea how to even begin this type of problem.
Sam's annual interest from an investment is $225. If sam had invested $600 more at an annual interest rate that was %1 less, the annual interest would have been $234. What are the amount and the rate of his actual investment.
Click here to see answer by stanbon(57246)

Question 433182: 8000 dollars in my saving account that give me 2.6% interest compunded conituously how long will it take to double my amount?
Click here to see answer by Gogonati(809)

Question 433227: Kevin invested part of his 10,000 bonus in a certificate of deposit that paid 6% annual simple interest, and the remainder in a mutual fund the paid 11% annual simple interest. if his total interest for the year was 800, how much did kevin invest in the mutual fund?
Click here to see answer by jorel1380(2518)

Question 433265: Randy invested his inheritance in an account that paid 6.5% interest, compounded continuously. After 7 years, he found that he now had $56,449.07. What was the original amount of his inheritance?
Click here to see answer by jorel1380(2518)

Question 433253: The future value of ordinary annuitites.
$4000.00 annuity payment
Payment every 3 months
Time Period(years) 6
Nominal Rate 8%
interest compounded quarterly
What is the future value of the annuity?
Click here to see answer by jorel1380(2518)

Question 433445: Can someone help with this, supply the missing term in the sequence. 25,23,19,13,___.. Thanks
Click here to see answer by MathLover1(6622)

Question 433445: Can someone help with this, supply the missing term in the sequence. 25,23,19,13,___.. Thanks
Click here to see answer by Edwin McCravy(8882)

Question 433583: A woman earns $1,240 in interest from two accounts in a year. If she has three times as much invested at 9% as she does at 4%, how much does she have in each account?
x at 4%
y at 9%
Click here to see answer by belle3833(46)

Question 433611: A company manufactures and sells bracelets. They have found from experience that they can sell 600 bracelets each week if the price per bracelet is $2.00, but only 500 bracelets are sold if the price is $2.50 per bracelet. If the relationship between the number of bracelets sold x and the price per bracelet p is a linear one, find a formula that gives x terms of p.
Click here to see answer by rwm(914)

Question 433922: The cost of an item can be determined by the equation 44t - 5c = -609, where c is the cost of the item and t is the age of the item in units of years. According to this equation, how much is the cost when the item is new? Type your answer as a decimal rounded to the nearest penny.
Click here to see answer by unlockmath(1599)

Question 434022: I am looking for the proper formula to complete this problem because I would like to try and figure this out on my own: Suppose you have a job at a restaurant that pays $12 per hour. You also work at a bookstore that pays $9 per hour. You want to earn at least $225 per week, but would like to work no more than 25 hours per week.
I was thinking that it should go something like this:
12x + 9y =225
x + y = 25
Multiply the second equation by -9
-9x+-9y=-225
Then use subtraction:
12x+9y=225
-9x-9y=-225
Which gives me this but I know I went wrong somewhere:
3x=-225
x=-75
Please let me know where I am going wrong and how to correct it.
Thank you

Click here to see answer by stanbon(57246)

Question 434029: I need to solve this problem using Systems of Equations and Inequalities. I am looking for a formula that I can just plug in the values and solve without worry.

Ann is responsible for ordering a week's supply of meat and fish for the main dishes at a local restaurant. The fish costs twice as much as the meat. She needs to order 164 meat selections and 24 fish selections. Her budget is $4240. How much can Ann spend on each type of main dish?
I tried to do 164 + 24 = 188, then I divided 4240 by 188 and came up with 22.56 per dish. I have a feeling that this is not the way to go because it was just way too easy.
Any help would be greatly appreciated.

Click here to see answer by stanbon(57246)

Question 434424: I have $1,800 to invest. I would like to have $2,340. If I invest in a CD at a 5% interest rate how many years would it take to get $2,340?
Click here to see answer by solver91311(16868)

Question 434253: Natasha recently had a baby girl and wants to place her baby shower money into an account that earns 8% enterest monthly. She needs $80,000 in this account to pay for her daughters college in 18 years. How much money would she need to put into this account now, in order to have that $80,000 in 18 years?
Click here to see answer by htmentor(788)

Question 434622: ryan can paint a fence in ten hours. asanji can paint the same fence in eight hours. if they worked together how long would it take them.
Click here to see answer by nerdybill(6950)

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