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Tutors Answer Your Questions about Money Word Problems (FREE)
Question 71969: The revenue for a sandwich shop is directly proportional
to its advertising budget. When the owner spent $2000 a month on advertising, the revenue was $120,000. If the revenue is now $180,000, how much is the owner
spending on advertising?
Click here to see answer by stanbon(26249)   |
Question 71954: Many young people do not start saving right away for retirement, although by the time that they do, they may be earning more and thus be able to afford to save more each month.
a) How much will be in your fund if at age 65 if you dont start saving until age 35 and at that age start saving 100 per month in account paying a steady 6% annual interest compounded monthly?
b) Suppose instead that you have children young, pay for their colege expenses, and finally start saving for retirement at age 45. How much do you have to save per month, with a steady return of 7.5% compunded monthly, to accumulate
$ 250,000.00 by age 65?
Click here to see answer by stanbon(26249) |
Question 72129: Kevin earned $165 interest for 1 year on an investment of $ 1500. At the same rare, what amount of interest would be earned by an investment of $2500?
I came up with the interest amount of 0.04% or 4% interest. Is this correct. Thanks
Click here to see answer by checkley75(3666) |
Question 72241: Determining A simple interest rate
you borrow $2500 froma friend and promise to pay back $2655 in six months. What simple interest rate will you pay?
example:
2655=2500[1 + r(0.5)]
2655=2500 + 1250r
I don't know how they got 1250r (distributive property)
Please explain
Thank you
Click here to see answer by rmromero(383) |
Question 72242: Determining A simple interest rate
you borrow $2500 froma friend and promise to pay back $2655 in six months. What simple interest rate will you pay?
example: A= P (1 + rt)
2655=2500[1 + r(0.5)]
2655=2500 + 1250r
I don't know how they got 1250r (distributive property)
Please explain
Thank you
Click here to see answer by stanbon(26249) |
Question 72247: A wheelbarrow manufacturer uses handles made of hardwood. Find the amount of wood that is necessary to make 182 handles. The longest dimension shown is the handle length. The following information was provided.
6.0 cubic Ft WheelBarrow
* steel construction with hardwood handles
* 14" tubeless pneumatic tire
* fully rolled edge for added tray strength
* overall dimensions: 61 1/2"L x 27"W x 24.9"H
Click here to see answer by stanbon(26249) |
Question 71970: Celsius temperature readings can be converted to Fahrenheit readings using the formula f=9/5c+32. What is the Fahrenheit temperature that corresponds to each of the following Celsius temperatures: -10,0,15,100
Click here to see answer by terbear1963(43) |
Question 72450: Business and finance. The revenue for a sandwich shop is directly proportional to its advertising budget. When the owner spent $2000 a month on advertising, the revenue was $120,000. If the revenue is now $180,000, how much is the owner spending on advertising?
Click here to see answer by Edwin McCravy(2920) |
Question 72444This question is from textbook For All Practical Purposes
: From Table 21.5, you can determine the rate of inflation from one year to the next. For example, you find the rate of inflation from 1991 to 1992 by subtracting the two index numbers and dividing the earlier one: (140.6-136.2)/136.2=0.032=3.2%. Similarly, knowing the rate of inflation, you can compute one index number from another.
a) What was the rate of inflation from 1980 to 1981
b) For a 3% rate of inflation per year from 2003 on, what would the Co nsumer Price Index be in 2006?
This question is from textbook For All Practical Purposes
Click here to see answer by Edwin McCravy(2920) |
Question 72459: From Table 21.5, you can determine the rate of inflation from one year to the next. For example, you find the rate of inflation from 1991 to 1992 by subtracting the two index numbers and dividing the earlier one: (140.6-136.2)/136.2=0.032=3.2%. Similarly, knowing the rate of inflation, you can compute one index number from another.
a) What was the rate of inflation from 1980 to 1981
b) For a 3% rate of inflation per year from 2003 on, what would the Co nsumer Price Index be in 2006?
Table 21.5 figures
1980-82.4
1981-90.0
1982-96.5
1983-99.6
1984-103.9
1985-107.6
1986-109.6
1987-113.6
1988-118.3
1989-124.0
1990-130.7
1991-136.2
1992-140.3
1993-144.5
1994-148.2
1995-152.4
1996-156.9
1997-160.5
1998-163.0
1999-166.6
2000-172.2
2001-177.1
2002-179.9
2003-184.0
2004-189.5
2005(EST)-195.0
2006 (EST)-200.5
Click here to see answer by stanbon(26249) |
Question 72456This question is from textbook For All Practical Purposes
: I asked this question a few days ago and I am waiting for an answer. I hope I will get one today.
Suppose that you save for retirement by contributing the same amount each month from your 23rd birthday until your 65th birthday, in an account that pays a steady 5% annual interest compounded monthly.
a) How much will be in your fund at age 65 if you save $ 100 a month?
b) How much will be in your fund if you get a steady return of 7.5% compounded monthly?
c) How much will be in your fund if you get a steady return of 10% compounded monthly? (This is comparable to the average annual return of about 11% for all stocks on the New York Stock Exchange from 1950 to 2000) This question is from textbook For All Practical Purposes
Click here to see answer by stanbon(26249) |
Question 72571: What is the value of a preferred stock that pays a $2.10 dividend annually to an investor with a required rate of return of 11%? (Round your answer to the nearest $1)
A. $17
B $19
C. $21
D. $23
Click here to see answer by bucky(1732) |
Question 72879: Style Corporation preferred stock pays a dividen of $3.15 a year. What is the value of the stock if the required rate of return is 8.5%? (Round your answer to the nearest $1)
A. $23
B. $27
C. $33
D. $37
Click here to see answer by bucky(1732) |
Question 72880: Style Corporation preferred stock pays a dividen of $3.15 a year. What is the value of the stock if the required rate of return is 8.5%? (Round your answer to the nearest $1)
A. $23
B. $27
C. $33
D. $37
Click here to see answer by bucky(1732) |
Question 73129This question is from textbook
: Ms. Green invested $1000 at 4% and $6000 at 6%. How much must she invest at 10% to make her total annual income 7.5% of her total investment? This question is from textbook
Click here to see answer by bucky(1732) |
Question 73131This question is from textbook
: Mr. Sable invested $5000 in a mortgage that pays 9% interest annually. He bought bonds paying 4.5% interest annually. His total annual income is 6% of his total investment. How much did he invest in the bonds. This question is from textbook
Click here to see answer by Earlsdon(4898) |
Question 73248: Super Bowl Advertising: The average cost of 30 seconds of advertising during the Super Bowl 5 years ago was $2.2 million. If the increase in cost over the last 5 years has been 9%, find the average cost of 30 seconds of advertising during the Super Bowl this year. Round to the nearest tenth of a million.
I times $2.2 million by .09 and it equaled 180,000. Next I added this to 2.2 million to get $2,180,000.
Click here to see answer by bucky(1732) |
Question 73385: I got the answer, but can't figure out the formula. I know my answer works when I work it backwards. Can you please help me (and double check my answer is correct)? Wanda makes $6,000 more per year than her husband. Wanda saves 10% of her income, her husband saves 6%. If togher thye save $5400 per year, how much does each of them make per year?
I came up with: Wanda, $36,000 and her husband, $30,000. I took .06x6000 = 360 and then multiplied that by 100 to make 36,000. I then subtracted 6000 from it to get her husband's salary. I think I only happened on the right answer, I don't think I used a correct formula. Thanks.
Click here to see answer by Earlsdon(4898) |
Question 73425: I am having problems with this one.This is what I have so far.
x=number of items produced
C=cost in dollars
100items=$10,000
300items=$22,000
Business and finance. In planning for a new item, a manufacturer assumes that
the number of items produced x and the cost in dollars C of producing these items are related by a linear equation. Projections are that 100 items will cost $10,000 to produce and that 300 items will cost $22,000 to produce. Find the equation that relates C and x.
Click here to see answer by bucky(1732) |
Question 73568: Could you please help me solve this interest word problem? I'm clueless and don't know where to start! Here is the 2 part question.
The formula for calculating the amount of money returned for an initial deposit money into a bank account or CD is given by
A=P( 1+r)^nt
-
n
However, my question is now suppose, instead of knowing t, we know that the bank returned to us $15,000 with the bank compounding continuously. Using natural logarithms, find how long we have left the money in the bank (find t). Round your answer to the hundredth's place.
Click here to see answer by stanbon(26249) |
Question 73568: Could you please help me solve this interest word problem? I'm clueless and don't know where to start! Here is the 2 part question.
The formula for calculating the amount of money returned for an initial deposit money into a bank account or CD is given by
A=P( 1+r)^nt
-
n
However, my question is now suppose, instead of knowing t, we know that the bank returned to us $15,000 with the bank compounding continuously. Using natural logarithms, find how long we have left the money in the bank (find t). Round your answer to the hundredth's place.
Click here to see answer by bucky(1732) |
Question 73569: A commonly asked question is, "How long will it take to double my money?" At 10% interest rate and continuous compounding, what is the answer? Round to the hundredth's place. PLEASE HELP!!! I Would Appreciate it!
Click here to see answer by stanbon(26249) |
Question 73573: Business and finance. If the inventor in exercise 53 charges $4 per unit, then her profit for producing and selling x units is given by the function
P(x)= 2.25x - 7000
(a) What is her profit if she sells 2000 units?
(b) What is her profit if she sells 5000 units?
(c) What is the break-even point for sales?
Click here to see answer by stanbon(26249) |
Question 73863: Can you help me? I need another question answered.
Suppose you deposit $10,000 for 2 years at a rate of 10%. Calculate the return (A) if the bank compounds annually (n=1). Round your answer to the hundredth's place.
The formula for calculating the amount of money returned for an inital deposit money into a bank is
A = P (1 + r)nt
-
n
Pleas help!!
Click here to see answer by stanbon(26249) |
Question 73872: ) For a fixed rate, a fixed principal amount, and a fixed compounding cycle, the return is an exponential function of time. Using the formula, A=P(1+r/n)^nt , let r = 10%, P = 1, and n = 1 and give the coordinates (t, A) for the points where t = 0, 1, 2, 3, 4. Round your answer to the hundredth's place.
a) Show coordinates in this space
Show work in this space
b) Show graph here
Click here to see answer by bucky(1732) |
Question 74129: Business Ownership: Rick Wilson has an 82% ownership in a company called Puppets and Clowns. If the company has a value of $49,200 and Wilson receives an income of 30% of the value of his ownership, find the amount of his income.
I came up with $12,103.2.
Click here to see answer by stanbon(26249) |
Question 74305: A coffee merchant has coffee beans that sell for $9 per
pound and $12 per pound. The two types are to be mixed to create 100 lb of a mixture that will sell for $11.25 per pound. How much of each type of bean should be used in the mixture?
Click here to see answer by funmath(2873) |
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