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

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Question 631935: working 2 part time jobs .how long would it take to reach 7000 dollars
Click here to see answer by Alan3354(30993)

Question 632132: Tina sells purses in a department store. She earns a weekly salary of $225 plus a commission of 3.5% on all her sales. Last week her sales were $3,595. How much did she earn?
Click here to see answer by ewatrrr(10682)

Question 632315: Nico is saving money for his college education. He invests some money at 8%, and $1200 less than that amount at 5%. The investments produced a total of $174 interest in 1 year. How much did he invest at each rate?
Click here to see answer by mananth(12270)

Question 632304: The cost of an item is given by the formula c= p+t where p is the price and t is the sales tax. Find the tax paid on an item that was priced at $37.40 and cost $39.69
Click here to see answer by Maths68(1474)

Question 632303: The amount A in an account is given by the formula A = p + i where p is the principal and i is the interest. How much interest was earned if an original deposit (the principal) of $4,250 has grown to be $4,530?
Click here to see answer by Tatiana_Stebko(1326)

Question 632356: If 3,000 dollars is left in an account for 4 years and the earned interest is 84. dollars, then how much interest would be earned in 7 years.
Click here to see answer by ewatrrr(10682)

Question 632479: The selling price of a textbook is $122.50. If the markup is 25% of the bookstore's cost, what is the bookstore's cost of the textbook?
Click here to see answer by stanbon(57323)

Question 632440: What is the formula for the total revenue of year 2006.
Quarter 1 5,469,123
Quarter2 5,489,564.00
Quarter 3 5,579,648
Quarter 4 5,789,459.00

Click here to see answer by Alan3354(30993)

Question 632489: Find the amount of compound interest earned in an account that opens with $26,000, earns 5.6% interest compounded daily, and is held for 5 years. Assume 360 days in a year. (Round your answer to the nearest cent.)
Click here to see answer by unlockmath(1599)

Question 632546: An investor invested a total of 2400.oo in two mutual funds. One fund earned a 4%and the other earned a 2% profit. If the investor's total profit was 86.00, how much was invested in each mutual fund?
Click here to see answer by Maths68(1474)

Question 632648: What are the repeating digits in the decimal equivalent of 19/31?
Click here to see answer by ewatrrr(10682)

Question 632643: Gino,Gary, Gerry and Gemo are going to be paid 847.00 pesos for serving in Mr Pere's gasoline STATION. They each worked 5 hours, except Gerry, Who was 45 minutes late. How much should each one paid?

Click here to see answer by ewatrrr(10682)

Question 632680: I'm not doing very well helping my son understand this problem.
Michael buys into a mutual fund to save for retirement, but does not add any money after his initial investment. His account balance is $2,700 after three years, $3,290 after five years; $4,030 after seven years; $5,440 after 10 years; and $8,950 after fifteen years. Perform an exponential regression on this data to complete the following items.
1. What was the amount of Michael's initial investment (to the nearest dollar)?
2. What (to the nearest tenth of a percent) is his annual rate of return.
3. What is the projected account balance at Michael's retirement, 35 years after his initial investment (to the nearest dollar)?
Thank you!
Click here to see answer by stanbon(57323)

Question 632787: dorothy owes $11000 on two credit cards with annual interest rates of 9% and 12%. If she pays $1140 interest for the year, how much does she owe on each card?
Click here to see answer by mananth(12270)

Question 632828: Dorothy owes $11,000 on two credit cards with annual interest rates 9% and 12 %. If she pays $1,140 in interestfor the year, how much does she owe on each card ?

Click here to see answer by mananth(12270)

Question 632829: A woman has some stocks that yield 5% annually and some bonds that yield 10%. If her investment totals $6,000 and her annual income from the investments is $400, how much does she have invested in stocks and how much in bonds ?

Click here to see answer by mananth(12270)

Question 632773: a woman has some stocks that yield 5% annually and some bonds that yield 10%. If her investment totals $6000 and her annual income from the investment is $400, how much does she have invested in stocks and how much in bonds?
Click here to see answer by mananth(12270)

Question 632800:
Click here to see answer by lenny460(766)

Question 632881: When the cost of a car is multiplied by 0.06 the result is $1780. Find the cost of the car
Click here to see answer by richwmiller(9135)

Question 632909: what is a better investment: 1000.00 at 3 percent for 20 years or
$500.00 at 7 percent for 20 years?
Click here to see answer by ewatrrr(10682)

Question 632989: a,b and c entered into a partnership investing of Rs 10000 Rs 12000 and 18000 respectively after 4 months b withdrew Rs 2000 and after 6 months a invested Rs 2000 more share a profit 5950 among them at end of the year .
Click here to see answer by Theo(3460)

Question 633015: to find A when P =$11,000.00 time is 5 year, rate is5.4% n is 12: and or 5.5% where n is 4

Click here to see answer by rfer(12657)

Question 633066: A salesperson earns a base salary of $1,840 per month and a commission of 7.2% on the
amount of sales. If the salesperson has a paycheck of $4,306 for one month, what was the
amount of sales for the month? Show work
Click here to see answer by Maths68(1474)

Question 633204: What is the total amount of 2300 at 7% intrest rate over 8 years
Click here to see answer by ewatrrr(10682)

Question 633333: What is $22,000 compounded annually at 6% would equal after three years?
Click here to see answer by rfer(12657)

Question 633346: What is the future value of an initial investment of $5000 at annual rate of 10% interest compounded semi-annually for 5 years?
Click here to see answer by rfer(12657)

Question 633348: Tom and Katie were recently married and want to take a cruise. To do so, the couple needs to save $20,000. They plan to invest $3,000 at the end of each year for the next six years to earn 9% compounded annually. What is the future value of annuity?
Click here to see answer by rfer(12657)

Question 633347: What is the future value of an initial investment of $8000 at annual rate of 8% interest compounded quarterly for 4 years?
Click here to see answer by rfer(12657)

Question 633350: You would like to start saving for retirement. Assuming you are now 50 years old and you want to retire at age 60, you have 10 years to watch your investment grow. You decide to invest in the stock market, which has earned about 9% per year over the past 20 years and is expected to continue at this rate. You decide to invest $3,900 at the end of each year for the next 10 years. What is the future value of annuity?
Click here to see answer by rfer(12657)

Question 633352: A STUDENT DEPOSIT 1500.00 IN A 9% ACCOUNT TODAY HE INTENDS TO DEPOSIT ANOTHER 3000.00 AT THE END OF TWO YEARS. HE PLAN TO PURCHASE IN 5 YEARS HIS FAVORITE SHOES WORTH OF 5000.00. CALCULATE THE MONEY THAT WILL BE LEFT IN HIS ACCOUNT ONE YEAR AFTER THE PURCHASE
Click here to see answer by mananth(12270)

Question 633377: Melissa invested a sum of money at 3% annual interest. She invested three times that sum at 5% annual interest. If her total yearly interest from both investments was 5400, how much was invested at 3%
Click here to see answer by John10(245)

Question 633407: a man divides PHP6,500 ampng his children in such a way that the second receives two-thirds as much as the first but; PHP500 more than the third. how much does each receive?
Click here to see answer by Edwin McCravy(8908)

Question 633420: Will receives a 10% commission on all sales less returns. If he sold $18,256 worth of merchandise last week and $475 worth of merchandise was returned. Find his gross pay.

Click here to see answer by ewatrrr(10682)

Question 633469: A $20,000 loan at 11 percent dated March 9 is due to be paid on July 10. The amount of interest is
Click here to see answer by rfer(12657)

Question 633757: if you invest 16000 dollars in an account that yielded 7% annually, determine to the nearest dollar that amount you with have after ten years
Click here to see answer by ewatrrr(10682)

Question 633782: You invest an initial $100 in an account that has an annual interest rate of 3%, compounded quarterly. How much money will you have in the account after 20 years? Round your answer to the nearest whole number.
Click here to see answer by solver91311(16877)

Question 633747: an annuity of $2000 pe half year is payable for 10 years.If interest rates were 4.5% per half year,how much would such an annuity cost?
Click here to see answer by rfer(12657)

Question 633690: A car dealership has 180 cars on their lot. If they increase their inventory be 25%, how many cars will be on the lot?
Click here to see answer by lenny460(766)

Question 634123: if fuel cost 1.55 per litre and i paid $86 how many litres would i get ? also, if i paid $20 for fuel and it was 1.63 per litre how many litres would i get???
Click here to see answer by rfer(12657)

Question 634210: An equation for simple interest can be written as I=prt, where I is the interest, p is the principle, or the original money put into the account, rate is, the interest rate in decimal form and t is time. Jamie wants to earn $500 in interest so she’ll have enough to buy a used car. She puts $2000 into an account that earns 2.5% interest. How long will she need to leave her money in the account to earn $500 in interest
Click here to see answer by rfer(12657)

Question 634313: How long it will take for an investment of 2000 dollars to double in value if the interest rate is 8 percent per year, compounded continuously?
Click here to see answer by graphmatics(170)

Question 634351: 1. Nickel Plains of Canada has purchased 500,000 pounds of nickel from Coin Ltd. at US$6.96, payable in 90
days. The current spot rate is 1.3404 ($Can / $U.S.) and the 90-day forward is 1.3421. The vice-president of
finance at Nickel Plains suggests that the spot rate in three months time will be 1.3333.
Interest rates in Canada are currently 2 percent for 90 days and 1.6 percent in the United States.

a. Outline the various options available to Nickel Plains to handle its foreign exchange exposure.

b. Make a recommendation.

SOLUTIONS

Formulas & Data to complete the reqirements of problem step by step

a. Outline the various options available to Nickel Plains to handle its foreign exchange exposure.

Purchase in three month’s time (90 days):

Amount of nickel 500,000
Price $6.96
Total contract FORMULA

1. Take a chance on the spot rate (at the future date):

Spot rate VALUE
Future cost FORMULA

2. Book a forward contract:

Forward rate VALUE
Future cost FORMULA

3. Money market hedge:

i. Invest 90 day discounted $1,475,000 (to meet contract):
US interest rate VALUE
Discounted amount FORMULA

ii. Convert to $ Canadian at the spot rate:
Spot rate VALUE
Canadian FORMULA

iii. Borrow in Canada at the current interest rates:
CDN. interest rate VALUE
Future cost FORMULA
Pay off loan

b. Make a recommendation

Click here to see answer by lynnlo(4155)

Question 634366: A man makes three investments totaling $24000 with the interest rates at 6%, 7% and 8%. The total annual income is $1720, and the income from the 7% investment is $4o less than the combined income from the other investments. Find the amount of each investment.
Click here to see answer by sachi(392)

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