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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 74319: Stephen bought a clothes dryer at 25% off sale. He paid $282.69, which included an 8% sales tax. How much money (including tax) did he save by buying the dryer on sale?
Click here to see answer by MaileLouge(1)

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 jim_thompson5910(28715)

Question 74503: Mardi received an inheritance of $50,000. She invested part at 8% and deposited the remainder in a tax-free bond at 12%. Her total annual income from the investments was $4,800. Find the amount invested at 8%.

Click here to see answer by scott8148(6628)

Question 74544: Can u solve this one plz...
1)A sum of money put out at compound interest increased by $600 at the end of the 1st year and $660 at the end of the 2nd year.Find the rate percent and the sum..
Click here to see answer by venugopalramana(3286)

Question 74620: Adult tickets for a play cost $9 and child tickets cost $8. If there were 23 people at a performance and the theater collected $193 from ticket sales, how many children attended the play?
Click here to see answer by rvaught(1)

Question 74647: Sally bought three chocolate bars and a pack of gum and paid $1.75. Jake bought two chocolate bars and four packs of gum and paid $2.00. Find the cost of a chocolate bar and the cost of a pack of gum.
Click here to see answer by checkley75(3666)

Question 74622: Lane invested $22,000, part at 8% and part at 7%. If the total interest at the end of the year is $1,710, how much did she invest at 8%?
Click here to see answer by checkley75(3666)

Question 74955: Solve each of the following problems. Be sure to show the equations used for the solution.
Number problems. Jill has $3.50 in nickels and dimes. If she has 50 coins, how many of each type of coin does she have?

Click here to see answer by ankor@dixie-net.com(15746)

Question 75006: You have 15 coins in your pocket that are either quarters or nickels. They total $2.75. How many of each coin do you have?
Click here to see answer by checkley75(3666)

Question 75189: Ruth invest $10,000 dollarsin two accounts. one account has an annual interest rate of 7%, and the other account has an annual interest rate of 5%. Let I represent the total interest earned in one year. Then Ruth's investemnt can be modeled by the system of equations x+y=10,000 and 0.07x=0.05y=I.
a. determind a solution fo this system of equations that represents a possible investment, and find the value of I that corresponds to your solution.
Click here to see answer by stanbon(57962)

Question 74561: I'been Having Problems with this problem. I have no clue how to begin. Please help. Is in spanish so i`ll try my best to translate it.
A company has a funtion of demand equal to
Qd=1,000-.25p
And a funtion of cost equal to
CT=3,00=5Q
1. What is the funtion income total?
2. What is the funtion of marginal income?
3. What is the funtion of marginal cost?
4. In what level of production Q maximizes the income total?
5. In what level of production Q maximizes the winnings?
6. At what price it should sell to reach the max of winnings?
If u want it in spanish let me know, Thank you

Click here to see answer by poptart101(1)

Question 76212: A shoe company just paid a dividend of $1.65 on its common stock. This companys dividens are expected to grow at a constant rate of 3% indefinitely. If the required rate of return on this stock is 11%, compute the current value per share of this stock.
A. $15.00
B. $20.63
C. $21.25
D. $55.00
I didnt get any of the options above, I came closest to C but not exactly.
Click here to see answer by scott8148(6628)

Question 76553: Could you verify if my answer to the problem is correct or not?
The amount A is in an account after t years of an initial principle P invested at an annual rate r compounded continuously is given by A=Pe^rt where r is expressed as a decimal. What is the amount in the account if $500 is invested for 10 years at the annual rate of 5% compounded continuously?
I got $814.45
Click here to see answer by scott8148(6628)

Question 76645: Will someone please help me with this problem?A stockbroker has money in three accounts. The interest rates on the three accounts are 9%, 10%, and 11%. If she has twice as much money invested at 10% as she has invested at 9%, three times as much at 11% as she has at 9%, and the total interest for the year is $930, how much money is invested at each rate? Enter your answer in the form without the units. Let be the amount of money invested at 9%, be the amount of money invested at 10%, and be the amount of money invested at 11%.
Thank You,
Sabrina

Click here to see answer by bucky(2189)

Question 76647: Will someome please help me solve, someone was kind enough to show me how to do this with two numbers will someone please help me with this one? The problem is A stockbroker has money in three accounts. The interest rates on the three accounts are 4%, 6%, and 12%. If she has twice as much money invested at 6% as she has invested at 4%, three times as much at 12% as she has at 4%, and the total interest for the year is $260, how much is invested at each rate? (Hint: Let x = the amount invested at 4%.)
invested at 4%
invested at 6%
invested at 12%
Please Help Me
Thank You,
Sabrina
Click here to see answer by bucky(2189)

Question 76658: The profit on a watch is given by P = x^2 - 13x -80, where x is the number of watches sold per day. How many watches were sold on a day when there was a $50 loss?

Thanks so much for you help this one has me stummped.
Click here to see answer by stargrl12566(16)

Question 76679: Tickets for a play at the community theater cost $20 for an adult and $8 for a child. If 120 tickets were sold and the total receipts were $2040, how many of each type of ticket were sold?
Click here to see answer by ptaylor(2052)

Question 76851: A certain sum of money is invested at 10%. Twice that amount is invested at 8%. The total amount of interest from both investments is $91. How much is invested at 8%.
Click here to see answer by funmath(2925)

Question 76825: A real estate agent received a 3% commission on the sale of a home. If the home sold for $ 120,000.00, how much was the commission?
120,000*3% =3,600
$3,600
Is this right?
Click here to see answer by checkley75(3666)

Question 76960: Elaine was charged $288 interest for 1 month on a $1600 credit card balance. What was the monthly interest rate?
Is this right?
18%

Click here to see answer by checkley75(3666)

Question 77210: Personal Budgeting- Jim Lawler spends 28% of his imcom on housing, 15% on food, 11% on clothing, 15% on transportation 11% on education, 7% on recreation, and saves the balance. If his savings amount to $266.50 per month, what are his monthly earnings?
Gambling Payback- An Atlantic City casino advertises that it gives a 97.4% payback on slot machines, and the balance is retained by the casino.If the amount by the casino is $4823, find the total amount playedon the slot machines.
Click here to see answer by checkley75(3666)

Question 77498: Porfirio went shopping for some clothes. He bought a shirt for $73.98, a pair shoes for $79.19, a hat for $19.95, a coat for $120.85, and socks for $11.29. Estimate to the nearest dollar the total amount of Porfirio's purchases.
Click here to see answer by rajagopalan(158)

Question 77404: You deposit $6,800 in a money-market account that pays an annual interest rate of 5.7%. The interest is compounded quarterly. How much money will you have after 3 years?

Click here to see answer by Edwin McCravy(8999)

Question 77581: A saleswoman is working on a 3% commission basis. If she wants to make $3,000 in one month, how much must she sell?
I came up with $100,000. Am I right or wrong? Is it something else? Please help.
Click here to see answer by stanbon(57962)

Question 77578: Rochelle purchased an appliance that cost $815.56 with interest included. She paid $250 as a down payment and agreed to pay the remainder in 18 monthly payments. What amount will she be paying per month?
Click here to see answer by stanbon(57962)

Question 78004: How long does it take for an account which is compounded continuously at 2.4% to quadruple if it doubles in 8.5 years?
Click here to see answer by scott8148(6628)

Question 78440: At Ajax Plastics the shipping clerk,the stockgirl, the sales woman, and the cashier are rose, hannah, gerladine, and mary jo, but mr. bigwid, the presiden of ajax, cant remember who is which. bigwig does, however, know these facts. Hannah likes both the saleswoman and the cashier, Mary Jo rides to work with the saleswoman and the cashier, and the shipping clerk comes to work alone. Rose is slightly jealus of the cashier.
Match up the eomwn with their occupations.
Click here to see answer by stanbon(57962)

Question 78415: Charlie won $50,000 on the 'Cash 5' Lottery adn decided not to spend any of it! Instead he invested some of the money in bonds paying 4%, twice as much in stock paying 5%, and the remainder in a certificate paying 7%. If the total interest earned from these three investments is to be $2,730, how much is he investing in the certificate?
Click here to see answer by stanbon(57962)

Question 78534: Suppose $2500 is invested at 7.5% per year compounded quarterly. What is the amount after 5 years?
Click here to see answer by stanbon(57962)

Question 78536: Mr. Brown borrows $1600 for one year from a loan company. He is given only $1560 and is expected to repay the $1600 at the end of one year. What is the simple discount rate? Give the simple discount rate as a percent.
Click here to see answer by tutor_paul(490)

Question 78607: The amount of an investment of P dollars for t years at simple interest rate r is given by A=P+Prt.
Rewrite the formula by factoring out the greatest common factor on the right hand side.
Find A if $8300 is invested for 3 years at a simple interest rate of 15%
Click here to see answer by bucky(2189)

Question 78703: Elaine was charged $195 interest for 1 month on $1,000 credit card balance. What was the monthly interest rate?
Am I supposed to multiply $1,000 by $195????
Click here to see answer by checkley75(3666)

Question 78669: Problem #1
Brenda invested $33,000, part at 20% and part at 3%. If the total interest at the end of the year is $4,390, how much did he invest at 20%?
Problem #2
A real estate agent received a 2.5% commission on the sale of a home. If the home sold for $892,000, how much was his commission?
Click here to see answer by checkley75(3666)

Question 78776: $50 in pennies weights 34 pounds.
The value of 60 pounds of pennies is?
Click here to see answer by tutor_paul(490)

Question 78905: Advertising expenditures for Bailey's Roofers are as follows.
Newspaper $2250 Television $1425
Radio $954 Yellow Pages $1605
Outdoor $1950 Miscellaneous $2775
What percent of the total advertising expenditures is spent on radio advertising?
The answer in the book is 8.7% but I keep calculating 953.433. The also want you to round the answer to the nearest tenth. Your assistance would be very helpful. Thank you.
Rosemary
Click here to see answer by rapaljer(4667)

Question 79343: 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 josmiceli(9817)

Question 79385: When x number of units are sold, the price of each unit (in dollars) is given by P=-x/2+75. Find the unit price when the following quantities are sold: 2,7,9,11.
Click here to see answer by tutorcecilia(2152)

Question 79335: The cost of producing a number of items x is given by C=mx + b, in which b is the fixed cost and m is the variable cost (the cost of producing one more item). (a)-If the fixed cost is $40 and the variable cost is $10, write the cost equation.(b) Graph the cost equation.
Can someone please help me understand this problem???? Pleeeease, Thank You
Click here to see answer by tutorcecilia(2152)

Question 79587: The Acme Class Ring Company designs and sells two types of rings: the VIP and the SST. They can produce up to 24 rings each day using up to 60 total man-hours of labor. It takes 3 man-hours to make one VIP ring and 2 man-hours to make one SST ring. How many of each type of ring should be made daily to maximize the company's profit, if the profit on a VIP ring is $40 and on an SST ring is $35?
Click here to see answer by ankor@dixie-net.com(15746)

Question 79733: Jenny inherits $42,900 and invests it for a year in two stocks. Stock A earns 12.5% annually and stock B earns 8.5% annually. How much did she invest in each stock if stock B earned three-quarters as much as stock A?
Click here to see answer by ankor@dixie-net.com(15746)

Question 80036: Mr.Harvey invested a sum of money at 4%.He invested a second sum at 3%.If the annual income from the first investment is equal to the annual income from the second investment,and if the investments total $7000,how much did he invest at each rate?
Click here to see answer by checkley75(3666)

Question 80671: Sally bought three chocolate bars and a pack of gum and paid $1.75. Jake bought two chocolate bars and four packs of gum and paid $2.00. Find the cost of a chocolate bar and the cost of a pack of gum.
Click here to see answer by ptaylor(2052)

Question 81081: Anna has 12 bills in her wallet, some 5$ and some $10. The total value of the bills is $100. How many of each bill does Anna have?
Click here to see answer by stanbon(57962)

Older solutions: 1..45, 46..90, 91..135, 136..180, 181..225, 226..270, 271..315, 316..360, 361..405, 406..450, 451..495, 496..540, 541..585, 586..630, 631..675, 676..720, 721..765, 766..810, 811..855, 856..900, 901..945, 946..990, 991..1035, 1036..1080, 1081..1125, 1126..1170, 1171..1215, 1216..1260, 1261..1305, 1306..1350, 1351..1395, 1396..1440, 1441..1485, 1486..1530, 1531..1575, 1576..1620, 1621..1665, 1666..1710, 1711..1755, 1756..1800, 1801..1845, 1846..1890, 1891..1935, 1936..1980, 1981..2025, 2026..2070, 2071..2115, 2116..2160, 2161..2205, 2206..2250, 2251..2295, 2296..2340, 2341..2385, 2386..2430, 2431..2475, 2476..2520, 2521..2565, 2566..2610, 2611..2655, 2656..2700, 2701..2745, 2746..2790, 2791..2835, 2836..2880, 2881..2925, 2926..2970, 2971..3015, 3016..3060, 3061..3105, 3106..3150, 3151..3195, 3196..3240, 3241..3285, 3286..3330, 3331..3375, 3376..3420, 3421..3465, 3466..3510, 3511..3555, 3556..3600, 3601..3645, 3646..3690, 3691..3735, 3736..3780, 3781..3825, 3826..3870, 3871..3915, 3916..3960, 3961..4005, 4006..4050, 4051..4095, 4096..4140, 4141..4185, 4186..4230, 4231..4275, 4276..4320, 4321..4365, 4366..4410, 4411..4455, 4456..4500, 4501..4545, 4546..4590, 4591..4635, 4636..4680, 4681..4725, 4726..4770, 4771..4815, 4816..4860, 4861..4905, 4906..4950, 4951..4995, 4996..5040, 5041..5085, 5086..5130, 5131..5175, 5176..5220, 5221..5265, 5266..5310, 5311..5355, 5356..5400, 5401..5445, 5446..5490, 5491..5535, 5536..5580, 5581..5625, 5626..5670, 5671..5715, 5716..5760, 5761..5805, 5806..5850, 5851..5895, 5896..5940, 5941..5985, 5986..6030, 6031..6075, 6076..6120, 6121..6165, 6166..6210, 6211..6255, 6256..6300, 6301..6345, 6346..6390, 6391..6435, 6436..6480, 6481..6525, 6526..6570, 6571..6615, 6616..6660, 6661..6705, 6706..6750, 6751..6795, 6796..6840, 6841..6885, 6886..6930, 6931..6975, 6976..7020, 7021..7065, 7066..7110, 7111..7155, 7156..7200, 7201..7245, 7246..7290, 7291..7335, 7336..7380, 7381..7425, 7426..7470, 7471..7515, 7516..7560, 7561..7605, 7606..7650, 7651..7695, 7696..7740