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

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Question 539528: how many pounds of seed worth $1.05 per pound must be mixed with 60 pounds of seed worth $90 per pound in order to produce a mixture to sell for $1.00 per pound?
please show steps! it'd help a lot, thanks :D
Click here to see answer by ankor@dixie-net.com(15660)

Question 539766: How much should parents invest today at 6.24% compounded monthly, in order to have 65,000 for their child's educations in 18 years from now? I would appreciate a step by step walkthrough! Thanks!
Click here to see answer by mananth(12270)

Question 539779: financial;Kirti spent rs.281.90 on a total of 27 packets of australian yummy and healthy rice.[australian yummy rice sells at 9.45 per 5 kg packet and healthy rice at 14.80 per 8 kg packet]calculate the number of weeks her family would take to finish the rice if they eat 1/2 kg of rice everyday?
a.321/2 b. 42 6/7 c.52 1/4 d.none of these.
I solved it using GUESS AND CHECK of problem solving method since algebra was not included for my class of five[India] i did this way.first I must find how many 5 kg packets and 8 kg packets are there in the total 27 packets.I adjust the individual price to the total amount spent with total bags linearly working out from my first guess as 8 kg 9 packets and 5 kg remaining 18 packets and total the amount.I increased 5 kg one packet at a time and 8 kg is reduced one at a time.thus my 5 kg of 8 kg packets and 22 of 5 kg packets were found to be matching with the total amount 281.90/then i calculated the total kg in 5 packets and 22 packets and found that as 150 k.g.then if 1/2 kg -1day ,150 kg would come to 3oo days.divided by 7 i got 42 6/7weeks.my point is it is an international competition exam where the method is not written but correct solution is found. can you tell me whether this guess and check[international problem solving strategy is used elsewhere in exam where solutions are important?besides can you give me the starting equation to work on.sorry for taking your valuable time.I will be really grateful,if you could guide me here.thank you
Click here to see answer by KMST(1874)

Question 540292: You work for a company that pays you $2000 each month, plus a 10% commission on all your sales for that month. What is your total pay for a month where your sales are $4,228.50 ?
Click here to see answer by rfer(12670)

Question 540288: What is his commission if his total sales were $2,444.39 ?

Click here to see answer by rfer(12670)

Question 540286: What is his weekly salary if his annual salary is #34,100 ?
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Question 540376: Alfreida doubled her money in the stock market every 4 years. After 20 years, she had 120,000 dollars. How much did she start with?
Click here to see answer by jpg7n16(66)

Question 539948: find the compunded amount for the deposits $15,000 at 4.6% compounded semiannually for 11 years
Click here to see answer by jpg7n16(66)

Question 539721: A person invests $100 in an account that pays interest monthly with an APR of 12%. How much is in the account after 20 years?

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Question 540049: During a period of constant inflation, the value of a 215,000 property will increase according to the equation value = 215,000e^.08t where t is the time in years.
A.) what will be the property value in 12 years?
B.) How long will it take for the property to double in value?
Click here to see answer by jpg7n16(66)

Question 539543: Penny’s salary this year is $29,120. This is 4% more than her salary last year. What did she earn last year?
Click here to see answer by jpg7n16(66)

Question 538590: About how many years will it take for $1,800 to reach $2,500 at a simple interest rate of 4%
Click here to see answer by jpg7n16(66)

Question 540500: Suppose you deposit $615 in an account earning 4.2% interest, compounded continuously. How much money will be in the account after 7 years?

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Click here to see answer by Alan3354(30993)

Question 540573: How long does it take for an investment to double in value if it is investedat 6% compounded monthly? Compounded contiuously?
Click here to see answer by stanbon(57387)

Question 540574: You are offered two different jobs selling dental supplies .One has an annual salary of 20,000 plus an end of the year bonus of 1% of your total sales.The other has a salary of 15,000 and a year -end bonus of 2% of your sales.How much would you have to sell to have the jobs pay the exact same amount ?
How do I solve this?
Click here to see answer by scott8148(6628)

Question 539583: Ray has $7.60 in quarters and dimes. In all, he has 40 coins. How many coins of each kind does he have?
Click here to see answer by jpg7n16(66)

Question 540794: Hi I am having trouble doing word problems. Here are the directions: Solve using the five-step problem-solving process. Show all steps necessary to arrive at your solution. Here is the question:
A woman earns 15% more than her husband. Together they make $69,875 per year. Find both salaries.

Click here to see answer by jpg7n16(66)

Question 539033: A coat is on sale for $42.50. If the store is having a 15%-off sale, what was the original price of the coat?
Click here to see answer by jpg7n16(66)

Question 539049: find compound interest on $450 for 2 years at 10% per annum compounded yearly

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Question 540764: If you invest $3,000 at 10% interest compounded continuously, what is the average amount in your account over one year? (Round your answer to the nearest cent.)
Click here to see answer by laurah(1)

Question 540883: Sim invests $9000 at 2% per annum compound interest compounded yearly. What is his amount at the end of third day?

Click here to see answer by Theo(3464)

Question 540950: i need help solving this problem.
A person deposited $500 in a savings account that pays 5% interest that is compounded yearly. At the end of 10 years, how much money will be in the savings account?
Click here to see answer by stanbon(57387)

Question 540867: if my current sales for the year is $175,000 and I need 35% to cover my overhead and expenses....If I want to increase my gross profit dollars by $20,000 how much do I have to increase my sales by?
Click here to see answer by jpg7n16(66)

Question 540691: Percent increase of 2000 to 2400
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Question 540067: Barry says a friend told him, "my car has lost 20% of it's value each year, and I've had it for 4 years, so it's only worth 20% of what I paid for it. I'll sell it to you for that amount." An independent mechanic tells Barry that the car is in great condition. Would you advise Barry to purchase the car? Explain

Click here to see answer by jpg7n16(66)

Question 540994: Two mechanics worked on a car. The first mechanic worked for 20 hours, and the second mechanic worked for 5 hours. Together they charged a total of $2075. What was the rate charged per hour by each mechanic if the sum of the two rates was $190 per hour?
Click here to see answer by jpg7n16(66)

Question 540615: Find the amount if $400 is invested at 13% compounded monthly for 8 months.
Click here to see answer by jpg7n16(66)

Question 539896: If the salesperson for the Northeast got paid a 2% commission of the total quarterly sales, what would his/her commission be?
Click here to see answer by jpg7n16(66)

Question 540885: A bag selling 185$ is marked down 25% for special promotion. it is later marked down farther by 17 1/2% of the sale price. since it still not sold, it is marked down further to a price of 60% off the original selling price.
a) What are two sale prices of the bag?
b) What is final selling price of the bag?
Click here to see answer by jpg7n16(66)

Question 540864: (a) Michael bought 12 pounds of flour for $5 . How many dollars did he pay per pound of flour?

(b) It takes 45 pounds of seed to completely plant a 5-acre field. How many pounds of seed are needed per acre?
If necessary, round your answers to the nearest hundredth.
Click here to see answer by jpg7n16(66)

Question 541120: how do I find the amount of interest earned by the following deposits ? $23000 at 12% compounded monthly for 21/2 years?
Click here to see answer by stanbon(57387)

Question 74249: Kind of confused with this problem... any assistance would be greatly appreciated! Thanks
4) CLASSIC PROBLEM - A traveling salesman (selling shoes) stops at a farm in the Midwest. Before he could knock on the door, he noticed an old truck on fire. He rushed over and pulled a young lady out of the flaming truck. Farmer Brown came out and gratefully thanked the traveling salesman for saving his daughter’s life. Mr. Brown insisted on giving the man an award for his heroism.
So, the salesman said, “If you insist, I do not want much. Get your checkerboard and place one penny on the first square. Then place two pennies on the next square. Then place four pennies on the third square. Continue this until all 64 squares are covered with pennies.” As he’d been saving pennies for over 25 years, Mr. Brown did not consider this much of an award, but soon realized he made a miscalculation on the amount of money involved.
a) How much money expressed in dollars would Mr. Brown have to put on the 32nd square?
Answer:
Show work in this space

b) How much money expressed in dollars would the traveling salesman receive in total if the checkerboard only had 32 squares?
Answer:
Show work in this space

c) Calculate the amount of money necessary to fill the whole checkerboard (64 squares). How money expressed in dollars would the farmer need to give the salesman?
Answer:
Show work in this space

b) How much money expressed in dollars would the traveling salesman receive in total if the checkerboard only had 32 squares?
Answer:
Show work in this space

c) Calculate the amount of money necessary to fill the whole checkerboard (64 squares). How money expressed in dollars would the farmer need to give the salesman?
Answer:
Show work in this space

Click here to see answer by FredFireCloud(1)

Question 541357: What interest rate would be needed to double an investment in 9 years using continuous compounding?
I tried using the equation A=Principal*e^(rate*time)but am not getting anywhere with it. I would extremely appreciate it if you would include the formula used along with the answer.
Click here to see answer by KMST(1874)

Question 541499: Rowan invested a certain amount of money at 5% per year and an amount thrice as large at 8% per year. The total annual income from the two investment was 17,400 Php. Find the amount invested at each rate.
Click here to see answer by Earlsdon(6287)

Question 541458: How much more money is earned in 10 years if $5,000 is invested at 6% compounded continuously rather than compounded annually?
A=P(1+r/m)^n
A= 5,000(1+0.06/365)^3650
A- $9110.14
A=Pe^rt
A= 5,000e^(0.06)^(10)
A= $9,110.59
This is what I did but even the difference doesn't match any of the answer possibilities.
The possibilities are:
$312.72
$156.36
$78.18
$6,110.59
Click here to see answer by jpg7n16(66)

Question 541390: Reggie Means invested part of $30,000 in municipal bonds that earn 6.5% annual simple interest and the remainder of the money in 8.5% corporate bonds. How much is invested in each account if the total annual interest earned is $2190?

The rest of my homework has questions similar to this one, but for some reason I can't find a formula that works! If you could help me find one, I should be able to finish the rest of my homework on my own (hopefully). Thank you!
Click here to see answer by jpg7n16(66)

Question 541270: I need to determine the formula for the accumulated amount I will have saved for retirement as a function of time and simplify it. My values are P=$480 r=.08 and n=1 (annually)
Click here to see answer by jpg7n16(66)

Question 541329: You buy a car for £8500 and sell it a year later for £5100. What is the percentage loss?
I've tried dividing the 8500 by 5100 but I can't work out how to get a percentage from it.
Click here to see answer by jpg7n16(66)

Question 541121: I found simple interest, I also need to find interest compounded annually and find the amount by which the compound interest is larger. $10,240 at 10% 11 years. Also $7908.42 at 5% for 8 years. Also need the effective rate correspondig to the following nominal rates, then round to the nearest hundredth of a percent for 12% compounded monthly and 9% monthly. Thank you, I am basically looking for the solutions on how to do these types of problems.
Click here to see answer by jpg7n16(66)

Question 541404: At a sale this week, a desk is being sold for $522 . This is a 28% discount from the original price.
What is the original price?
Click here to see answer by jpg7n16(66)

Question 540403: Suppose that you invest $6,000 at 2% interest compounded continu-
ously. How much money will be in your account in 5 years? Round your
answer to the nearest cent.
Do not include commas or u
Click here to see answer by jpg7n16(66)

Question 541829: I have three bank accounts. They contain $7,987, $6550, and $6283.
I want to take a total of $4,791 out of the three accounts so that it leaves the same balance in each account. How do I figure that out? Thank you for your help.
Click here to see answer by Theo(3464)

Question 541840: Suppose that you have a bank account with a balance of $5000 at the beginning of the year and $5100 at the end of the year. What is the APR (Annual Percentage Rate) on this account?
Click here to see answer by Alan3354(30993)

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