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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 607474: mr. santos wants to have an interest income of 3000 a year. how much must he invest for one year at 8 percent?
Click here to see answer by w_parminder(53)

Question 607529: Beth is planning on investing her $1600 bonus, putting some in an account earning 6% and the rest in an account earning 8%. How much should she put in each to have a total of $104 interest?
Click here to see answer by Earlsdon(6287)

Question 607548: b. David invests $12000 in two savings accounts. One account is paying 10% simple interest and the other account is paying 6% simple interest. If in one year, the same interest is earned on each account, how much was invested at each rate?
Click here to see answer by Earlsdon(6287)

Question 607569: if a bussiness borrows 20,000 and repays 32,000 i 6 years,what is the simple interet rate
Click here to see answer by rfer(12662)

Question 607585: I exchanged sterling into euros, where the rate was 1.17 to exchange GBP into euros and 1.35 to exchange euros back to sterling. I bought a guaranteed buyback for £3.99 for a g'teed buy back rate of 1.17 euros to GBP. I have tried to work out what minimum number of euros i need to exchange back to GBP to ensure that I don't lose out on the £3.99 paid for the guarantee. I have worked out manually without an algerbaic formula that I need to exchange no less than 35 euros to ensure the saving is at least £3.99. However I cannot seem to work out a formula which determines this exactly. I've tried 3.99/.18 ie the difference in the exchange rate, but this only gives me £22.16, which whem i use the 1.17 I only get 22.16*1.17=18.94 and 22.16/1.35=16.41, which is not the required difference of 3.99 ie the cost of the guarantee. I know that if i use 35 euros, I get 25.92/29.92, the difference I am looking for, but how do I determine this algebraically?
Click here to see answer by scott8148(6628)

Question 607602: diane delivers newspapers for $5 a day plus $0.04 per newspaper delivered. jeremy delivers newspapers for $2 a day plus $0.10 per newspaper delivered. how many newspapers would diane and jeremy each need to deliver in order to earn the same amount?
Click here to see answer by ankor@dixie-net.com(15656)

Question 607662: A person hired a firm to build a CB radio tower. The firm charges $100 for labor for the first 10 feet. After that, the cost of the labor for each succeeding 10 feet is $25 more than the preceding 10 feet. That is, the next 10 feet will cost $125, the next 10 feet will cost $150, etc. How much will it cost to build a 90-foot tower?

Click here to see answer by jerryguo41(162)

Question 607670: you borrow $6000 for 2 years at 9%. what is the simple interest?
Click here to see answer by rfer(12662)

Question 607664: A person deposited $500 in a savings account that pays 5% annual 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 rfer(12662)

Question 607688: How many months are required for $2,500 to grow to $3,300 at 16% simple interest?
Click here to see answer by jim_thompson5910(28595)

Question 607711: Find the simple interest on a $1000 investment made for 2 years at an interest rate of 6%/year. What is the accumulated amount?
Click here to see answer by ewatrrr(10682)

Question 607957: Heather's weekly pay is directly proportional to the number of hours she works at the record store. Her pay is $174 for 24 hours of work. Find the amount of pay for 40 hours of work
Click here to see answer by lynnlo(4164)

Question 607997: carmen needs to make at least $550 per month to pay for college classes. she receives $200 per month from a scholarship and earns $7.00 per hour at her job. how many hours carmen must work each month to pay for classes. carmen gets a raise to $8.00 per hour
Click here to see answer by ewatrrr(10682)

Question 608360: I need help coming up with a equation and solution to this problem:
More than 20 and less than 50 people went to a concert. The price of each ticket was the same whole number of dollars, and the total cost was $377. How many dollars did each individual ticket cost?
Thanks,
David R
Click here to see answer by solver91311(16897)

Question 608417: A hamburger cost $1.50 and the price continued to rise at a rate of 7% a year for the next 8 years. What will the price of a hamburger be at the end of 8 years (to the nearest penny) ?
Click here to see answer by stanbon(57361)

Question 608365: I need help coming up with an equation and solution to the following problem:
A group of 21 friends each had the same 8 coins. altogether the group had $8.61. if each friend had onlyquarters, dimes, or pennies, how many pennies did they have altogether?
Thanks,
DR
Click here to see answer by solver91311(16897)

Question 608492: $353 per month invested at 5%, compounded mothly for 4 years, then $655 per month invested at 6%, compounded monthly for 4 years, what is the amount in the account after 8 years?
Click here to see answer by ewatrrr(10682)

Question 608541: A manufacturer makes two types of jet skis, regular and deluxe. The profit on the regular jet ski is $200 and the profit on the delux is $250. To meet customer demand the company must make at least 50 regular and 75 delux models per week. To maintain high quality they must not exceed more than 150 jet skis per week. How many jet skis of each type should be produced per week to obtain maximum profit? What is the maximum weekly profit?
Trying to graph and solve using objective function to no avail. Thank you for your help.
Click here to see answer by stanbon(57361)

Question 608565: Which will earn more interest, $120 at 4% for 2 years or $120 at 8% for 1 year? By how much do the earnings differ?
Write your answer as 4% or 8% comma $difference
Click here to see answer by stanbon(57361)

Question 608539: How much interest would I recieve if I saved R2000 at an interest rate of 5% for one year?
Click here to see answer by rfer(12662)

Question 608595: A 12% discount will be given on a $2,500.00 order of transformers if paid within 30 days. what will be the cost of the transformers?
Click here to see answer by ewatrrr(10682)

Question 608595: A 12% discount will be given on a $2,500.00 order of transformers if paid within 30 days. what will be the cost of the transformers?
Click here to see answer by rfer(12662)

Question 608596: A 12% discount will be given on a $2,500.00 order of transformers if paid within 30 days. what will be the cost of the transformers?
Click here to see answer by ewatrrr(10682)

Question 608683: I earn 18 percent profit of $450. How much money do i earn?
Is $81 the correct answer?
Click here to see answer by ewatrrr(10682)

Question 608737: Suppose that $60,000 is invested at 6% interest, compounded annually. After time t, in years, it grows to the amount A given by the function A(t)=$60,000(1.06)^t. Find the amount of time after which there will be $300,000 in the account.
Click here to see answer by ewatrrr(10682)

Question 608933: Find the interest rate needed for an investment of $5600 to double in 7 yr if interest is compounded continuously. (Round your answer to two decimal places.)

Click here to see answer by lwsshak3(6513)

Question 608964: An investor invests some money that pays 5% simple interest. He invests $1200 less than that amount at 4% simple interest. Find the amount invested at 4% if the total annual income is $267.
The answer is $2300.
How do I arrive at this answer?
Thank you!
Click here to see answer by flame8855(424)

Question 608985: You deposit $500 in an account that pays 2.5% annual
interest compounded continuously. How long will it take for the balance to
double?
Click here to see answer by ewatrrr(10682)

Question 608908: Determine the simple interest rate at which $2400 will grow to $2475 in 6 months. (Round your answer to two decimal places.)
Click here to see answer by ewatrrr(10682)

Question 608820: Nickolas puts $25,000 in a savings account, to save for college for his granddaughter, which is continuously compounded at 5.5%. How much money does Nickolas have after 18 years?
Click here to see answer by ewatrrr(10682)

Question 609048: Mighty company charges $49 plus $1 per shirt.
No-Shrink company charges $4.50 per shirt.
for what number of T-shirts is the cost for both companies equal? Explain the found answer.
Click here to see answer by flame8855(424)

Question 609164: A company will need $75,000 in 8 years for a new addition. To meet this goal, the company deposits money in an account today that pays 5% annual interest compounded quarterly. Find the amount that should be invested to total $75,000 in 8 years
Click here to see answer by ewatrrr(10682)

Question 609052: 3 years ago i invested some money at 10% interest, I now have $1000 in the account. If the interest is compounded yearly, how much did i deposit 3 years ago?
Click here to see answer by ewatrrr(10682)

Question 609183: how long will it take money to triple if it is invested at 5% compounded daily? 6% compounded continuously
Click here to see answer by solver91311(16897)

Question 609183: how long will it take money to triple if it is invested at 5% compounded daily? 6% compounded continuously
Click here to see answer by lwsshak3(6513)

Question 609156: kathi and robert had a pottery stand at the annual skipack craft fair they sold some of theirpottery at the original price of $9.50 for each piece but later decreased the price of each piece by $2 if they sold all 90 pieces and took in $705 find how many pieces they sold at the original price and how many pieces they sold at the reduced price?
Click here to see answer by ankor@dixie-net.com(15656)

Question 609346: please help me solve an entry level position pays $8 an hour a 4% raise is given at the end of each yearof employment. what would be the pay after 3 years

Click here to see answer by ankor@dixie-net.com(15656)

Question 491987: 1. Suppose you are the owner of a tile company who purchases tiles from a supplier at a rate of $5 each.

a. The variable cost is the cost that depends on the quantity, such as how many tiles are purchased. If you buy 100 tiles at $5 each, how much have you spent on tile? What if you buy 500 tiles? (As required with every calculation on the worksheet, please demonstrate your steps even though you may be able to calculate mentally.)

b. The fixed cost does not depend on the quantity that you purchase. For example, an ATM fee at the gas pump is a flat amount that does not depend on how many gallons of gas are purchased. It is fixed (not variable) cost.

Click here to see answer by david1987(1)

Question 609479: if you get paid 6 an hour for a part time job how long will it take to get $1700?

Click here to see answer by Alan3354(30993)

Question 609479: if you get paid 6 an hour for a part time job how long will it take to get $1700?

Click here to see answer by lynnlo(4164)

Question 609531: suppose you deposit money in an investment account that pays 7% annual interest compounded continuously. about how many years will it take for your initial deposit to double?

Click here to see answer by scott8148(6628)

Question 609561: I am needing assistance in solving the following word problem. Amy paid $64.34 for a pair of shoes during a 15% off sale. What was the regular price? I have been trying to solve it. I do not think I am solving it the correct way.
Click here to see answer by rfer(12662)

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