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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 507562: For a long distance person to person telephone call, a telephone company charges $0.43 for the first minute, $0.32 for each additional minute, and a $2.10 service charge. If the cost of a call is $5.73, how long did the person talk?
Click here to see answer by oberobic(2304)

Question 507611: Find the accumulated amount at the end of 11 months on a $2400 bank deposit paying simple interest at a rate of 9%/year. (Round your answer to the nearest cent.)
$
Click here to see answer by josmiceli(9664)

Question 507618: Find the simple interest on a $1200 investment made for 2 years at an interest rate of 8%/year. What is the accumulated amount? (Round your answers to the nearest cent.)

simple interest $
accumulated amount $
Click here to see answer by stanbon(57278)

Question 507837: A man invests 1/3 of his capital at 3% and the remainder at 4%. What is the capital if his total income is 44 000?
Click here to see answer by josmiceli(9664)

Question 507902: The manager of the Coral Theater wants to know whether the majority of its patrons are adults or children. During a week in July, 5200 tickets were sold and the receipts totaled $20,335. The adult admission is $4.75 and the children's admission is $2.50. How many adult patrons were there?
Click here to see answer by Maths68(1474)

Question 507996: A man bought 50 thousand Australian Dollars in January 2007 at A$1 = S$1.2789 and put it in a bank that pays a compound interest of 7.6% per annum compounded every 3 months.
a. How much A$ will he have in the bank account in January 2007 ?
My answer ::
A = 50000(1+7.6/400)^8
A= A$ 58125.07
b. He exchanged all the A$ into S$ in January 2009 at the rate of A$1 = S$0.9876. Calculate the amount gain/loss for the investment, giving your answer in S$ correct to the nearest 50 cents.
I can't get part b correctly. I've tried to convert both AS$50k and A$58125.07 into S$ using both rate in Jan 2007 and 2009. But I still can't get it correctly. Please help me :)
Click here to see answer by rfer(12654)

Question 508033: johnston and betsy have a jar containing 80 coins of which are either quarters or nickels. the total value of the coins is $14.60 how many of each coin do they have? i need the equations please!
Click here to see answer by josmiceli(9664)

Question 508175: Ann worked 54 hours last week and recieved 564.25 total pay. How much did she make per hour assuming that overtime is over 40.
Click here to see answer by rfer(12654)

Question 508175: Ann worked 54 hours last week and recieved 564.25 total pay. How much did she make per hour assuming that overtime is over 40.
Click here to see answer by MathTherapy(1421)

Question 507949: I'm having a hard time solving this. I know how to set it up with x+y=43 and .99x+1.25y=49.59 but I'm not sure where to go from there.
An online music store sell songs for 2 different prices. Your dad buys you 43 songs for a total of $49.59.
The low cost songs are $0.99 each and the more expensive songs are $1.25 each. How many of each did he
buy?
Click here to see answer by ankor@dixie-net.com(15645)

Question 508192: Megs salary starts at 16,000 with annual raises of $1500. Janes salary starts at 19,300 with annual raises of 950. How many years will it be until they make the same amount. Set up in numeric form and solve
Click here to see answer by stanbon(57278)

Question 508311: Part of a $10,000 investment earned an interest rate of 7%, and the rest earned interest at a rate of 9%. The combined interest earned at the end of 1 year was $732. How much was invested at each rate?
Click here to see answer by mananth(12270)

Question 508290: three persons mr.roy, mr.poul and mr.singh together have Rs 51. Mr.poul has Rs 4 less than mr. Roy and mr.singh has got Rs 5 less than mr. Roy . How much money receive by mr.roy,mr.poul and mr.singh.
Click here to see answer by Maths68(1474)

Question 508544: How long will it take to double my investment (which they don't tell me) with compound annual investment, compound monthly and compound continuously. please explain in detail
Click here to see answer by Alan3354(30993)

Question 508894: A woman earns 10% more than her husband. Together they make $80,220 per year. What is the husband's annual salary?
Click here to see answer by rfer(12654)

Question 509032: Sandy has an investment account with shares in two companies, SMT and KLR. At the end of June, when each share of SMT was worth $9 and each share of KLR was worth $8, Sandys account was worth $1600. Three months later, SMT was worth $7 a share, KLR was worth $16 a share, and Sandys account was worth $2320. Find the number of shares that Sandy owns for each of the two companies and determine the value of her account when SMT is priced at $11 a share and KLR is priced at $10 a share
Click here to see answer by Theo(3458)

Question 509201: Grace bought a book and paid $1,80 in sales tax.If the sales tax rate is her state is 8%,what was the cost of the book.
Click here to see answer by stanbon(57278)

Question 509202: A radio manufacturing firm has fixed costs of $25,000 and variable costs of $75.80 per radio. The radio sells for $119.95. Write an expression for the profit function and find the number of radios that must be sold to break even.
So far i have cost= 25,000x+75.80
Click here to see answer by stanbon(57278)

Question 509209: Herschall has $18,000 to invest. He invest 2/3 in one account and the rest in a second account. The first returned 2% more than the second account. The total return on his investment was $1050. What were the percentage rates of the two accounts.
Click here to see answer by stanbon(57278)

Question 509203: The number of people infected by a disease in t days is given by N= 30,300/1+100e^.6t. How many days will it be until 30,000 people are infected?
Click here to see answer by htmentor(789)

Question 509620: Walt made an extra $10,000 last year from a part-time job. He invested part of the money at 8% and the rest at 6%. He made a total of $720 in interest. How much was invested at 6%?
Click here to see answer by mananth(12270)

Question 509750: How long will it take a $300 investment to be worth $400 if it is continuously compounded at 9% per year?
Click here to see answer by lwsshak3(6481)

Question 509795: Three individuals form a partnership and agree to divide the profits equally. X invests 9,000, Y invests 7,000 and Z invests 4,000. If the profits are 4800, how much less does X receive than if the profits were divided in proportion to the amount invested? Answer is 560. How is this arrived at is my question. I need the mechanics of this solution. Please and thank you sincerely, Claudette
Click here to see answer by ankor@dixie-net.com(15645)

Question 509842: how much water must be evaporated from 300 ounces of 12% salt solution to obtain a 15% salt solution?
Click here to see answer by Alan3354(30993)

Question 510063: Mr. Jamison buys a washing machine that is listed at $800. It is advertised at a 20% discount. At the store, he receives an additional 10% off the sale price, but he discovers that he must pay 6% sales tax on the reduced price of the machine plus a $40 delivery charge.
- I have to write an equation that would represent the final cost of the machine. Thanks!
Click here to see answer by josmiceli(9664)

Question 510289: The parents of a child have just come into large inheritance and wish to establish a trust fund for their daughters college education. If they estimate that they will need 100,000 in 13 years, how much should they set aside in the trust now if they can invest the money at 8.5 percent per year compounded annually.
How much money should they set aside if the interest is compounded annually, semiannually and quarterly?
my problem is that I am terrible with word problems and have a hard time setting them up, I have tried the formula A=P(1+rt) and all others and I still get the wrong answers
Click here to see answer by scott8148(6628)

Question 510402: Natalie had some nickels, Dirk had some dimes, and Quincy had some quarters. Dirk has 5 more dimes than Quincy has quarters. If Natalie gives a nickle to Dirk, Dirk gives a dime to Quincy and Quincy gives a quarter to Natalie, they will all have the same amount of money. How many coins did each originally have?
Click here to see answer by ankor@dixie-net.com(15645)

Question 510903: A woman invested 4 times as much at 2% as she did at 6%. The total amount of interest she earns in 1 year from both accounts is $560. How much did she invest at each rate?

Click here to see answer by stanbon(57278)

Question 510929: a total of $25000 is invested in two funds paying 6% and 8.5% simple interest. the 6% investment has a lower risk. the investor wants a yearly interest income of $2000 from the two investments.
a)write a system of equations in which one equation represents the total amount invested and the other equation represents the $2000 required in interest. let x and y represent the amounts invested at 6% and 8.5% respectively.
Click here to see answer by stanbon(57278)

Question 510938: Earl worked 20 hours last week. If he earned .50 an hour more but only worked 18 hours, he would have earned the same amount. How much per hour does earl earn?
Click here to see answer by oberobic(2304)

Question 510987: Co. made an adjusting entry accruing interest for $800 on a note payable for the month of January. The note required 12% per annum on the principal. The principal amount of the note payable must have been
Click here to see answer by rfer(12654)

Question 511299: You have already invested $350 in a stock with an annual return of 11%. How much of an additional $800 should be invested at 12% and how much at 6% so that the total return on the entire $1,150 is 9%? (Round each answer to the nearest cent.)

Click here to see answer by josmiceli(9664)

Question 511508: Bob is hired by an accounting firm at a salary of $60,000 per year. Three years later his annual salary has increased to $70,500. Assume his salary increases linearly.
1. Find an equation that relates his annual salary...S and the number of years...t that he has worked for the firm.
2. What do the slope and the S-intercept of his salary equation represent?
3. What will his salary be after 12 years with the firm?
Click here to see answer by josmiceli(9664)

Question 511488: a laborer was employed to work for a daily wage of $15 and paid $2 per day of board. He was idle on certain days and received no wage for that day time, but was charged for food every day. His net pay at the end of the period is $382. Had his daily wage been $18 and his board $3, the net pay would have been $438. How may days did he work and how many days was he idle?
Click here to see answer by oberobic(2304)

Question 512071: How long will it take your principal to double if it is invested at an annual rate of 2% simple interest with no additional deposits or withdrawals?

Click here to see answer by stanbon(57278)

Question 512200: Julio invested some money in an account that pays 9% interest and the rest in an account that pays 5%. He invested 4 times as much in the 9% account as in the 5% account. If the combined interest from both investments was $1435, how much did he invest in each?
Click here to see answer by mananth(12270)

Question 512169: Six shirts and two ties are purchased for $88.68. Then, four of the same-priced shirts and three of the same-priced ties are bought for $68.27. What are the prices of a single shirt and tie?
Click here to see answer by mananth(12270)

Question 512473: Angel finds $2.15 in Quarters and Nickels in her pocket. There were seven fewer quarters than nickels. How many nickels and quarters did she have?
Click here to see answer by ptaylor(2048)

Question 512512: An investment company pays 6% compounded semiannually. You want to have 24,000 in the future. How much should you deposit now to have that amount 5 years from now?
Click here to see answer by rfer(12654)

Question 512838: Jim Lawler spends 28% of his income on housing, 15% on food, 11% on clothing, 15% on transportation, 11% on education, 7% on recreation, and saves the balance. If his savings amount to $266.50 per month, what are his monthly earnings.
Click here to see answer by Maths68(1474)

Question 512822: A woman invested 4 times as much at 4% as she did at 7%. The total amount of interest she earns in 1 year from both accounts is $2,070. How much did she invest at each rate?

Click here to see answer by mananth(12270)

Question 513103: How long does it take $1700 to double if it is invested at 5% interest, compounded monthly?
Click here to see answer by solver91311(16872)

Older solutions: 1..45, 46..90, 91..135, 136..180, 181..225, 226..270, 271..315, 316..360, 361..405, 406..450, 451..495, 496..540, 541..585, 586..630, 631..675, 676..720, 721..765, 766..810, 811..855, 856..900, 901..945, 946..990, 991..1035, 1036..1080, 1081..1125, 1126..1170, 1171..1215, 1216..1260, 1261..1305, 1306..1350, 1351..1395, 1396..1440, 1441..1485, 1486..1530, 1531..1575, 1576..1620, 1621..1665, 1666..1710, 1711..1755, 1756..1800, 1801..1845, 1846..1890, 1891..1935, 1936..1980, 1981..2025, 2026..2070, 2071..2115, 2116..2160, 2161..2205, 2206..2250, 2251..2295, 2296..2340, 2341..2385, 2386..2430, 2431..2475, 2476..2520, 2521..2565, 2566..2610, 2611..2655, 2656..2700, 2701..2745, 2746..2790, 2791..2835, 2836..2880, 2881..2925, 2926..2970, 2971..3015, 3016..3060, 3061..3105, 3106..3150, 3151..3195, 3196..3240, 3241..3285, 3286..3330, 3331..3375, 3376..3420, 3421..3465, 3466..3510, 3511..3555, 3556..3600, 3601..3645, 3646..3690, 3691..3735, 3736..3780, 3781..3825, 3826..3870, 3871..3915, 3916..3960, 3961..4005, 4006..4050, 4051..4095, 4096..4140, 4141..4185, 4186..4230, 4231..4275, 4276..4320, 4321..4365, 4366..4410, 4411..4455, 4456..4500, 4501..4545, 4546..4590, 4591..4635, 4636..4680, 4681..4725, 4726..4770, 4771..4815, 4816..4860, 4861..4905, 4906..4950, 4951..4995, 4996..5040, 5041..5085, 5086..5130, 5131..5175, 5176..5220, 5221..5265, 5266..5310, 5311..5355, 5356..5400, 5401..5445, 5446..5490, 5491..5535, 5536..5580, 5581..5625, 5626..5670, 5671..5715, 5716..5760, 5761..5805, 5806..5850, 5851..5895, 5896..5940, 5941..5985, 5986..6030, 6031..6075, 6076..6120, 6121..6165, 6166..6210, 6211..6255, 6256..6300, 6301..6345, 6346..6390, 6391..6435, 6436..6480, 6481..6525, 6526..6570, 6571..6615, 6616..6660, 6661..6705, 6706..6750, 6751..6795, 6796..6840, 6841..6885, 6886..6930, 6931..6975, 6976..7020, 7021..7065, 7066..7110, 7111..7155, 7156..7200, 7201..7245, 7246..7290, 7291..7335, 7336..7380, 7381..7425, 7426..7470, 7471..7515, 7516..7560, 7561..7605, 7606..7650