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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 581786: how many years will it take an investment to triple itself if the interest rate is 9% compounded annually?
Click here to see answer by mananth(12269)

Question 582114: bob investment in stock grew 12% to 504. how much did he invest
Click here to see answer by jim_thompson5910(28476)

Question 582423: Anne invests R6000 for 3 years at 12,5% p.a compounded quarterly. How much interest will she earn after 3 years?
Click here to see answer by Edwin McCravy(8879)

Question 582547: A person pays $100,000 for an investment that promises to pay $15,000 per year at the end of each year for ten years. What is the rate of return on the investment?
Click here to see answer by jim_thompson5910(28476)

Question 582623: Greg deposits into an account that pays simple interest at a rate of per year. How much interest will he be paid in the first years?
Click here to see answer by Alan3354(30924)

Question 583089: A box of coins containing dimes and nickels totaling $7.35. If there are 12 more dimes than nickels, how many of each type are in the box?
Click here to see answer by JBarnum(2044)

Question 583266: Jasmine buys a computer for $1200. The computer depreciates at a rate of 40% a year, compounded monthly. How much is the computer worth in 18 months?
I know the formula for compounded monthly is A=P(1+r/n)^n*t
so I tried A=1200(.6/12)^(12*1.5) but the answer I got was wrong.
Thanks
Click here to see answer by Alan3354(30924)

Question 583459: An investor invested a total of $3,200 in two mutual funds. One fund earned a 4% profit while the other earned a 2% profit. If the investor's total profit was $98, how much was invested in a mutual fund?
Click here to see answer by mananth(12269)

Question 583743: If $51.30 in interest is earned on a deposit of $950 in one year, then what is the simple interest rate?
Click here to see answer by unlockmath(1599)

Question 583816: a friend of willie is a real estate developer and needs to borrow $75,000 to finish a development project. he is desperate for cash and offers willie 18% compounded monthly interest for 2 1/2 years. given that he can invest the money at a sure 5% with the bank,does this loan meet with willies goals for low risk investment.
can you think of any ways to reduce the risk.
Click here to see answer by solver91311(16868)

Question 583965: how long will it take for an investment to double if it earns 6.25% interest per year compounded quarterly?
Click here to see answer by mananth(12269)

Question 584089: How would you calculate this problem in simple interest form made a deposit of $2,000 into an account on August 1 that yields 2% interest compounded annually. How much money will be in that account at the end of 5 years?
Click here to see answer by rfer(12644)

Question 584170: x + 2x + (2x - 5000) = 4350
Click here to see answer by JBarnum(2044)

Question 584166: 28 is less than 12 more than 8 times a number
Click here to see answer by bucky(2189)

Question 584664: to use a certain computer data base, the charge is $30 per hour during the day and $10.50 per hour at night. if a research company paid $411 for 28 hours of use, find the number of hours charged at the daytime reate and at the nighttime rate

Click here to see answer by bucky(2189)

Question 584952: My monthly disability went from $468.00 to $ 492.00. What is the percentage of the raise? I know it rose by $24, but I can't figure out the percentage.
Thank you!

Click here to see answer by jim_thompson5910(28476)

Question 584953: Winston borrowed $4000 in two loans. One loan charged 7% interest and the other charged 1.5% interest. After 1 year, Winston paid $225 in interest. Find the amount borrowed in each loan.
Click here to see answer by josmiceli(9645)

Question 584962: Question on interest:
Assuming a rate 12.5%, How many years would it take for the Interest to be Double the Priciple.
Thank you in Advance
Click here to see answer by rfer(12644)

Question 585027: During a job interview, Pam Thompson is offered a salary of $39,000. The company gives annual raises of 9 percent. What would be Pam’s salary during her fifth year on the job?
Click here to see answer by josmiceli(9645)

Question 585072: Corporate Downsizing.- In an effort to cut costs, a corporation has decided to lay off 5 employees every month until the number of employees totals 465. If 510 people are now employed, how many months will it take to reach the employment goal?
Click here to see answer by josmiceli(9645)

Question 585180: Pam borrows $3,000 from the bank. She pays 7% simple interests for 3 years. How much interest does she pay over the 3-year period?
I don't understand what I should do first.
Click here to see answer by stanbon(57203)

Question 585461: Can you explain how to get the answer for this word problem, the five members of a band are getting new outfits. Shirts cost $12 each, pants cost $29 each, and boots cost $49 a pair. What is the total cost of the new outfits for all of the members?
Click here to see answer by checkley79(3039)

Question 585474: I was wondering how would you find the percentage of decrease, Traditions Clothing Store is having a sale. Shirts that were regularly priced at $20 are on sale for $17. What is the percentage of decrease in the price of the shirts?
Click here to see answer by jim_thompson5910(28476)

Question 585556: A man invests $12,000 in two accounts. One account pays 10% per year. The other account pays 7% per year. How much was invested in each account, if the total interest earned in the first year was $960
Click here to see answer by mananth(12269)

Question 585573: William opened two investment accounts for his grandson's college fund. The first year, these investments, which totaled $18,000 yielded $831 in simple interest. Part of the money was invested at 5.5% and the rest at 4%. How much was invested at each rate?
Click here to see answer by mananth(12269)

Question 585636: Sally invests twice as much in Stock Ventures 1 at 8% interest as in Stock Ventures 2 at 6%. How much will she earn in one year if a total of %8000 is invested?
Click here to see answer by mananth(12269)

Question 585730: Can you please help me on this equation:
How many liters of water are needed to dilate 20 liters of a 5% salt solution to a 1% solution?
Click here to see answer by josmiceli(9645)

Question 585746: Advance sale tickets cost $18.50 each, door tickets cost $15 each. if $6770 was collected on the sale of 400 tickets, how many door tickets where sold?
Thanks for the help!
Click here to see answer by richwmiller(9132)

Question 585734: A parking meter contains nickels, dimes and quarters. There are 3 fewer dimes than nickels, and 2 more quarters than dimes. If x represents the number of nickels, write an algebraic expression in terms of x that represents the value of all the coins in the meter in cents. Simplify the expression.
Click here to see answer by richwmiller(9132)

Question 585812: Rick and sandy bought some raffle tickets together and won the prize of $3,600. if rick and sandy agreed to split the winnings at a ratio of 8 to 7 (ricks winnings to sandys winnings) how much did each of them receive?
Click here to see answer by josmiceli(9645)

Question 586026: Seven people decide to share the cost of a yacht. By bringing in an additional partner, they can reduce the cost to each person by $2000. What is the total cost of the yacht?
Click here to see answer by jim_thompson5910(28476)

Question 586013: In the cash drawer at a bank, the ratio of the number of $1 bills to the number of $5 bills is 5 to 4, and the ratio of $10 bills to $20 bills is 2 to 1. These bills represent the total amount of money in the drawer: $6795. How many $1 bills are in the drawer?
I know how to do basic ratio problems, but being that this one involves money, it just confuses me... Please help! I would /really/ appreciate it.
Click here to see answer by josmiceli(9645)

Question 586137: A bank deposit paying simple interest at the rate of 8% per year grew to a sum of $1900 in 6 months. Find the principal.
Click here to see answer by rfer(12644)

Question 586129: elmer put 500 dollars in a bank account. each year the account earns 8% simple interest. how much interest will be earned in 4 years
Click here to see answer by rfer(12644)

Question 586127: Find the amount of compound interest earned in an account that opens with $29,000, earns 5.2% interest compounded daily, and is held for 25 years. Assume 360 days in a year. (Round your answer to the nearest cent.)
Click here to see answer by rfer(12644)

Question 586248: If I invest $2000/year for 20 years (starting now) at an average rate of return of 8% what would be the final amount I would have in 20 yrs. Thank you.
Click here to see answer by stanbon(57203)

Question 586301: $400 - $20 + $18 what is 2% interest on the balance
Click here to see answer by Alan3354(30924)

Question 586469: Mr shoes has expenses of $9592 per month. What must the stores total income be if it is to make a 12%profit?
Click here to see answer by stanbon(57203)

Question 586494: Suppose you receive a bonus from your employer in the amount of $5,000. You decide to deposit the money into an investment account that earns 2% interest per year compounded monthly. How much money will be in the account at the end of 10 years?
Click here to see answer by stanbon(57203)

Question 586804: On your fifteenth birthday, you received $1,000 which you invested at 10.3 percent interest, compounded annually. That investment is now worth $4,799.63. How old are you today? (Round UP to nearest whole year).

Click here to see answer by solver91311(16868)

Question 586803: Mr. Miser loans money at an annual rate of 73 percent compounded daily. You decide to borrow $10,000 from him and must repay the full principal and interest at the end of 2 years. How much must you repay him to pay off the loan?

Click here to see answer by solver91311(16868)

Question 586937: Walt made an extra $10,000 last years from a part-time job.he invested part of the money at 7%per year and the rest at 8% per year. He made a total of $740 in interest for the year. How much was invested at each rate?
Click here to see answer by richwmiller(9132)

Question 587171: Mr. Anders has $13,000 invested, part in high growth stock at an annual rate of 8 percent and the remainder in a savings account at an annual rate of 6 percent. If the annual interest is $900, what amount is invested at 8 percent?
Click here to see answer by lwsshak3(6455)

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