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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 434954: A banker invested a portion of $10,000 at 5% interest per year and the remainder at 4% interest per year. If the banker received $470 in interest after 1 year, how much was invested at each rate?
Click here to see answer by mananth(12270)

Question 434949: What will be the future value in a year if $600 is invested at a rate of 15% compounded quarterly
Click here to see answer by mananth(12270)

Question 434519: How do you show your work for this word problem "Juanita has the same number of nickels as dimes. She has a total of 1.95. How many of each type of coin does Juanita have?"
Click here to see answer by ankor@dixie-net.com(15656)

Question 435032: nineteen coins consisting of quarters and half-dollars amount to 6.50. find the amount of coins of each kind.
Click here to see answer by stanbon(57361)

Question 435032: nineteen coins consisting of quarters and half-dollars amount to 6.50. find the amount of coins of each kind.
Click here to see answer by robertb(4012)

Question 435251: a coffee company wants a new flavor of cajun coffee .how many pounds of coffee worth $9 a pound should be added to 30 pounds of coffee worth $3 a pound to get a mixture worth $7 a pound
Click here to see answer by josmiceli(9681)

Question 435412: Can you please help me solve this word problem?
Tony is 10 years older than his Sam. In 5 years, Tony will be twice as old as Sam. How old are they now?
We need to solve the word problem using two equations, and I can never get the second equation right. Here's what I get:
x=Sam's age Y= Tony's age
x+10=y
5+y=2x
Click here to see answer by scott8148(6628)

Question 435409: Can you please help me solve this word problem?
A jar of dimes and quarters contains $2.50. There are 4 more dimes than quarters. How many of each kind are there?
We need to have the problem solved using two equations, equation solving isn't the problem, it's getting the equations. What I get is this:
x=dimes y=quarters
x+y=2.50
y+4=x
Click here to see answer by scott8148(6628)

Question 435564: Complete the table to determine the balance A for P = 1400 dollars invested at rate r = 8% for t = 11 years and compounded n times per year. (Round your answers to two decimal places.)

n=1, 2, 4, 6, 12, 365
Click here to see answer by robertb(4012)

Question 435721: a.the sales representative informs you there are 56 houses for sale with two floor plans still available. use x to represent floor plan one and y to represent plan two. write an equation that ilustrates the situation.
b.the sales representative later indicates that there three times as many homes available with second floor planthan the first.write an equation that ilustrates the situation. use the same variables you use in part a.
c. use the equatios from parst a. and b. of this exercise as a systems of equations. use susbtitution to determine how many of each type of floor plan is available.describe the steps to solve the problem.
d. what are the intercepts of the equation from part a of this problem? from part b? where would the lines intersect in a graphic?
Click here to see answer by rwm(914)

Question 436092: If a student owns a computer system worth $4,000, how much would insurance cost to cover the system for 146 days if the insurance rate it 1.5% per year?
Click here to see answer by stanbon(57361)

Question 436305: The 2nd Avenue Delicatessen is making bagel sandwiches for a New york City marathon part. The sandwich maker has 360 bagel halves, 340 slices of turkey, and 330 slices of swiss cheese. If he needs to make sandwiches each consisting of two bagel halves, two slices of turkey, and two slices of swiss cheese what is the greatest number of sandwiches he can make? how do i solve this problem?
Click here to see answer by jorel1380(2518)

Question 436373: in a class of 74 students.the number of females is one fewer than twice the number of males.how many females and how many males are in the class.
Click here to see answer by jorel1380(2518)

Question 436365: angelo is paid double time for each hour he works over 40 hours.last week he worked 45 hours and got paid $400.00. What is his hourly wage?
Click here to see answer by htmentor(789)

Question 436459: do you believe it is better to figure prices based on cost or on selling price?
Click here to see answer by Alan3354(30993)

Question 436709: how many years will it take $1,500 to grow up to $2,923 if it is invested at an annual rate of 7.5% continuously?
Click here to see answer by stanbon(57361)

Question 436760: Tara has a balance of $3892.46 on a credit card with an annual Percentage rate of 16.5%. The minimum payment required on the current statement is $78.00. What is the amount applied to reduce the principal in this payment

Click here to see answer by rfer(12662)

Question 436823: How long does it take $875 to double if it is invested at 8% compounded monthly?
Click here to see answer by mananth(12270)

Question 436854: Rs.16,000 is given to a person for 2 years on 10% interest what be the compound interest
Click here to see answer by stanbon(57361)

Question 436853: I have an investment of $1500. After 4 years, it becomes $1700. The number of compounding periods are 360. What is my rate?
I do not know how to go from my last step and find an answer.
This is what I have so far, but do not know how to go from here. It is very confusing to me.
1700=1500(1+ r/360)^360 x 4
1700=1500(1+ r/360)^1280
ln(1+r/360)^1280=ln(17/15)
1280ln(1+r/360)=ln(17/15)
ln(1+r/360)=ln(17/15) all over 1280
=1/1280ln(17/15)
=ln(17/15)^1/1280
r=360[((17/15)^1/1280)-1]
This is where I do not understand how to go. I have tried to divide 17 by 15 giving me 1.13, then taking that to the power of 1/1280, giving me 8.9, then subtracting 1, which gives me a -.9991145833.
Click here to see answer by stanbon(57361)

Question 436944: What interest rate is needed to have money triple in 40 years when compounded quarterly?
Click here to see answer by stanbon(57361)

Question 437274: you owe a friend of 420. she decide to cancel 120 from you debt how much do you owe her now?
Click here to see answer by nerdybill(6960)

Question 437277: you owe a friend of $420. she decide to cancel $120 from you debt how much do you owe her now?
Click here to see answer by jorel1380(2518)

Question 437385: How many pounds of cashews selling for $7.40 per pound must be mixed with 6 pounds of peanuts selling for $2.60 per pound to create a mixture that sells for $5.80 per pound?
Click here to see answer by jorel1380(2518)

Question 437525: I really need help in how to solve this word problem please:
Here it is: Together Fred,Sam and Joe have $31. Use a system of equations to find the amount of money that Joe has if Sam has $3 less than Fred and Joe has $1 more than Fred and Sam combined.

Click here to see answer by rwm(914)

Question 36503:
Click here to see answer by JWG(21)

Question 437643: A woman earns $900 in interest from two accounts in a year. If she has three times as much invested at 8% as she does at 6%, how much does she have in each account?
Click here to see answer by mananth(12270)

Question 437937: You invest $1,000.00 in one account and $3,000.00 in another account. Both accounts have the same interest rate over the same amount of time. How will the interest earned compare?
Click here to see answer by htmentor(789)

Question 438375: $1500 is invested at 4% compounded quarterly. In how many years will the account have grown to $14,500? Round to the nearest tenth of a year.
Click here to see answer by ewatrrr(10682)

Question 438460: Amy paid $69.99 for a pair of running shoes during a 15% off sale. What was the regular price?
Click here to see answer by josmiceli(9681)

Question 438679: A tax exempt Charity received a bill of $145.90 for a sump pump. The bill incorrectly included sales tax of 5%. How much does the charity owe?
X= $ charity owes
I thought I had this, seems so easy, but I got it wrong?
I took 145.90 - 5% = 140.90
145.90 - .05=x
Help what am I missing here?

Click here to see answer by jorel1380(2518)

Question 438803: you have $1000 compounded continuously at an interest rate of 5%. How long will it take the amount to double?
Click here to see answer by stanbon(57361)

Question 438955: a cash register only contains five and ten dollor bills. it contains twice as many fies as tens and the money adds up to 700. how many tens are in the cash register.
Click here to see answer by jorel1380(2518)

Question 439245: How much money must you invest today to have $100,000.00 for your chil'd education in 18 years, provided you can invest the money in a long-term (18 yr) account at 3.5% interest compounded monthly?

Click here to see answer by nerdybill(6960)

Question 439402: The cost of installing insulation in a particular two-bedroom home is $2400. Present monthly heating costs average $375, but the insulation is expected to reduce heating costs by 40%. How many months will it take to recover the cost of the insulation?
Click here to see answer by shantalboodram(15)

Question 439374: Consider the following statement: Your stock portifolio dropped 25% last year, but rose 25% this year. Did you break even? Why or why not?
Click here to see answer by robertb(4012)

Question 439412: If a nurse deposits $10,000 today in a bank account and the interest is compounded annually at 12%, what will the value of the investment be nine years from now?
Click here to see answer by shantalboodram(15)

Question 439444: Calculate the difference of interest and compound interest for $ 5,000 at the rate of 5 % per annum for three years.
Click here to see answer by stanbon(57361)

Question 439570: Erica earned $12,000 last year. He invested part of her money at 3% and the rest at 4% single interest. In one year she earned $440.00 in interest. How much did she invest at each rate
Click here to see answer by josmiceli(9681)

Question 439582: Gerry wants to put enough money aside to pay all of his july and august utility bills. His summer gas bills are usually about half of his winter bills. His winter gas bills average $142 per month. His electric bills are about $26 higher each month in summer than in winter. His winter electric bills average $52 per month. About how much should Gerry put aside to pay his july and august utility bills?
Click here to see answer by josmiceli(9681)

Question 439617: Debbie, an outside saleswoman, uses her car for both business and pleasure. Last year, she traveled 30,000 miles, using 900 gallons of gasoline. Her car gets 40 miles per gallon on the highway and 25 in the city. She can deduct all highway travel, but no city travel, on her taxes. How many miles should Debbie be allowed as a business expense?
I set my equation up as 40x + 25(30000 - x) = 30000(900), but this isn't right because the answer is too large. I tried also 40x + 25x = 900 but do not know how to factor in the 30,000 miles. Could you explain to me step by step how to solve this problem, and how and why the equation to be solved is set up the way that it is?
Click here to see answer by rwm(914)

Question 439599: $9500 is invested, part of it at 10% and part of it at 6%. for a certain year, the total yield is $806.00. how much was invested?
Click here to see answer by jorel1380(2518)

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