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Tutors Answer Your Questions about Money Word Problems (FREE)
Question 46399: A college has $60,000 to invest in an endowment in order to have an annual income of $5000 for a scholarship. Part of this will be invested in government bonds at 8% and the remainder in long-term fixed deposits at 10.5%. How much should be invested in each to provide the required income?
Click here to see answer by checkley71(8405)   |
Question 46570: beginning algebra book
I'm in need of help with this word problem
you have at least $30 in change in your drawer, consisting of dimesand quaters. write an inequality that shows the different number of coins in your drawer
Click here to see answer by Nate(3495) |
Question 46582This question is from textbook 
: A coffee merchant has coffee beans that sell for $9 per pound and $12 per pound. The two types are to be mixed to create 100lb of mixture that will sell for $11.25 per pound. How much of each type of bean should be used in the mixture?This question is from textbook
Click here to see answer by josmiceli(3003) |
Question 47454: A bank loans a total of $7300 to two businesses. The bank charges the first business 5% annual interest, and charges the second business 8% annual interest. At the end of a year, the businesses pay the bank $440 in interest. How much did the bank loan each business?
Click here to see answer by checkley71(8405) |
Question 47555This question is from textbook Beginning Algebra
: Category : Business and Finance from text book
Need to solve word problem and show the equation used to get the solution.
There are 850 Douglas Fir and Ponderosa pine trees in a section of forest bought by Sawz logging Co. The company paid an average of $300.00 for each Douglas fir and $225.00 for each Ponderosa pine. If the company paid $217,500 for the trees, how many of each kind did the company buy?This question is from textbook Beginning Algebra
Click here to see answer by josmiceli(3003) |
Question 47584This question is from textbook Beginning Algebra
: I asked this question earlier but maybe I did not word it correctly. I do not need to work the problem out, I only need to identify the rate base and amount and wanted someone to check my answer, not solve it. Thank you though.
Please check my answer!
Instructions: Identify the rate, base and amount in the following application(do not solve the application at this point)
Question:
Paul invested $5000.00 in a time deposit, what interest will he earn for 1 year if the interest rate is 6.5%
My answer:
base=$5000.00
rate=6.5%
amount = unknown
Did I do this correctly based on the info that I provided?
Thank You!This question is from textbook Beginning Algebra
Click here to see answer by venugopalramana(3286)  |
Question 47587This question is from textbook Beginning Algebra
: Need help solving these kind of problems. Once I am shown how to work this type, I will be able to work the rest.
The electricity costs of a business decreased from $12,000 one year to $10,920 the next. What is the rate of decrease?
Can someone show me how to set up the problem to get the solution.
Thank You
This question is from textbook Beginning Algebra
Click here to see answer by Nate(3495) |
Question 47632: please help me solve this word problem.
Adult tickets for a play cost $20 and child tickets cost $16. If there were 27 people at a performance and the theater collected $464 from ticket sales, how many adults and how many children attended the play?
Click here to see answer by Nate(3495) |
Question 47622: I have $16,000 to invest. I put part of it an account paying 6% simple interest and the rest in an account paying 7% simple interest. If my annual income is $1,080 how much do I have invested in each account?
16,000(.06)+ 16,000(.07)= 1080
Click here to see answer by checkley71(8405) |
Question 47629: I have tried to solve this word problem on my own but I can't seem to solve can you help?
A small company produces both bouquets and wreaths of dried flowers. The bouquets take 1 hour of labor to produce, and the wreaths take 2 hours. The labor available is limited to 80 hours per week, and the total production capacity is 60 items per week. Write a system of inequalities representing this situation, where x is the number of bouquets and y is the number of wreaths. Then graph the system of inequalities.
Click here to see answer by stanbon(26249) |
Question 47850This question is from textbook College Algebra
: The population of a certain city was 680,000 in the year 2000 and is growing at the relative growth rate of 12% per year.
a. Find a function that models the population of this city t years after 2000
I got n(t) = 680,000e^0.12t
b. Estimate the population in 2008
n(8) = 680,000e^(0.12)(8)
= 680,000 e^(.96)
= 680,000 (2.61)
= 1,774,800
Is this even close?
Thanks a million!This question is from textbook College Algebra
Click here to see answer by Nate(3495) |
Question 47869This question is from textbook Beginning Algebra
: Please assist with this word problem
This has to do with equations and inequalities (at least that is what the chapter is on) but I do not figure how this word problem comes into play in this category.
Please help solve:
Allen bought 20 stamps at the post office in 37˘ and 20˘ denominations. If the total cost of the stamps was $7.06, how many 37˘ stamps did Allen buy?This question is from textbook Beginning Algebra
Click here to see answer by stanbon(26249) |
Question 47849This question is from textbook College Algebra
: Find the present value of $100,000 if interest is paid at a rate of 8% per year, compounded monthly, for 5 years.
I used the formula: 100,000 = P(1+ 0.08/12)^(12)(5) = 66,979.24.
Does this sound about right? I'm having trouble with the e function on the calculator.
Thank you very much!This question is from textbook College Algebra
Click here to see answer by Nate(3495) |
Question 47895: The amount A in an account after t years from the initial principle P invested at an annual rate r compounded continuously is given by A= Pe^rt where r is expressed as adecimal. Solve this formula for t in terms of A, P, and r.
Click here to see answer by Nate(3495) |
Question 47894: The amount of a radioactive tracer remaining after t days is given A=Alower 0e^-0.058t, where A0 is the starting amount at the beginning of the time period. How many days will it take for one-half of the orgininal amount to decay?
Click here to see answer by Nate(3495) |
Question 47892: The amount of A in an account after t years from an initial principle P invested at an annual rate r compounded continuously is given by A=Pe^rt where r is expressed as a decimal. How many years will it take an initial investment of $1,000 to grow to $1,700 at the rate of 4.42% compunded continuously.
I came up with 12 years.
Click here to see answer by Nate(3495) |
Question 47897: Can you please help me solve this word problem I am struggling with it.
A long-distance phone call costs $1.11 for the first minute and $0.97 for each additional minute or portion thereof. Write an inequality representing the number of minutes a person could talk without exceeding $6.
Click here to see answer by 1980.vikas(7) |
Question 48008: My mind is fried and I am on my last problem for tonight but can't seem to figure out what I am doing wrong. Please help me solve this problem.
If a piece of real estate purchased for $75,000 in 1998 appreciates at the rate of 6% per year, then its value t years after the purchase will be
f(t)=75000(1.06^t). According to this model, by how much will the value of this piece of property increase between the years 2005 and 2008.
Click here to see answer by stanbon(26249) |
Question 47941: Profitable fruitcakes. Sharon’s revenue R (in dollars) on the sale of x fruitcakes is determined by the formula R= 50x - x˛. Her cost C (in dollars) for producing x fruitcakes is given by the formula C= 2x + 40. For what values of x is Sharon’s profit positive? (Profit = revenue – cost.)
Thanks
Click here to see answer by stanbon(26249) |
Question 47938: Minimizing Cost. A company uses the formula C(x)= 0.02x˛ -3.4x +150 to model the unit cost in dollars for producing x stabilizer bars. For what number of bars is the unit cost at its minimum? What is the unit cost at that level of production?
Click here to see answer by checkley71(8405) |
Question 48084: This problem has stumped me can you assist with this?
5) Logarithms:
a) Using a calculator, find log 1000 where log means log to the base of 10.
Answer:
b) Most calculators have 2 different logs on them: log, which is base 10, and ln, which is base e. In computer science, digital computers are based on the binary numbering system which means that there are only 2 numbers available to the computer, 0 and 1. When a computer scientist needs a logarithm, he needs a log to base 2 which is not on any calculator. To find the log of a number to any base, we can use a conversion formula as shown here:
Using this formula, find . Round your answer to the hundredth's place.
Answer:
Show work in this space.
Click here to see answer by Nate(3495) |
Question 48083: I was ableto figure out one of these problems butnot the rest can you help please?
3) The formula for calculating the amount of money returned for deposit money into a bank account or CD (Certificate of Deposit) is given by the following:
A is the amount of returned
P is the principal amount deposited
r is the annual interest rate (expressed as a decimal)
n is the compound period
t is the number of years
Suppose you deposit $20,000 for 3 years at a rate of 8%.
a) Calculate the return (A) if the bank compounds annually (n = 1).
Answer:
Show work in this space. Use ^ to indicate the power.
b) Calculate the return (A) if the bank compounds quarterly (n = 4). Round your answer to the hundredth's place.
Answer:
Show work in this space .
c) Calculate the return (A) if the bank compounds monthly (n = 12). Round your answer to the hundredth's place.
Answer:
Show work in this space.
d) Calculate the return (A) if the bank compounds daily (n = 365). Round your answer to the hundredth's place.
Answer:
Show work in this space.
e) What observation can you make about the size of increase in your return as your compounding increases more frequently?
Answer:
f) If a bank compounds continuous, then the formula becomes simpler, that is
where e is a constant and equals approximately 2.7183. Calculate A with continuous compounding. Round your answer to the hundredth's place.
Answer:
Show work in this space
A=Pe^(rt)
A = 20000e^(.08*3)
A = 20000e^.24
A = 20000* 1.27124915
A = 25,424.98
g) Now suppose, instead of knowing t, we know that the bank returned to us $25,000 with the bank compounding continuously. Using logarithms, find how long we left the money in the bank (find t). Round your answer to the hundredth's place.
Answer:
Show work in this space
h) A commonly asked question is, “How long will it take to double my money?” At 8% interest rate and continuous compounding, what is the answer? Round your answer to the hundredth's place.
Answer:
Show work in this space.
Click here to see answer by Nate(3495) |
Question 48955This question is from textbook finite mathematics
: An artist is painting a supply of small paintings to sell at an arts festival. he can paint three landscapes per hour and two seascapes. He can frame five painting per hour. He has 50 hours available for painting and 25 hours for framing. How many of each type of painting should he paint and frame in order to maximize the total value of the paintings. He receives $25 each for the landscapes and $30 each for the seascapes.
a. Max Value = $4,375 for 75 landscapes and 50 seascapes
b. Max Value = $3,375 for 75 landscapes and 50 seascapes
c. max Value = $4,375 for 50 landscapes and 75 seascapes
d. Max Value = $3,375 for 50 landscapes and 75 seascapesThis question is from textbook finite mathematics
Click here to see answer by venugopalramana(3286) |
Question 49207: I am stuck on this one, please help me.
Business and finance: The demand equation for certain type of printer is given by
D = -200p + 35,000
The supply equation is predicted to be
S = -p^2 +400p -20,000
Find the price equilibrium price.
Click here to see answer by longjonsilver(2297)  |
Question 49219: At Bob’s garage sale, all books were one price, and all magazines were another price. Sam bought five books and three magazines for $2.50, and William bought two books and two magazines for $1.70. What was the price of a book and what was the price of a magazine?
Click here to see answer by AnlytcPhil(958) |
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