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Tutors Answer Your Questions about Money Word Problems (FREE)
Question 86932: An investmest of $5600 is made at an annual simple interest of 6.5%. How much additional money must be invested at an annual simple interest rate of 9% so that the total interest earned is 8% of the total investment.
Click here to see answer by stanbon(26249)   |
Question 86870: what formulas do i use for these problems:
Problem #5
John lee saving account has a balance of $2449 after 7 years what will the amount of interest be at 8% compounded semiannually?
Problem #7
Southwest dry cleaners believes that it will need new equipment in 5 years
the equipment will cost $26000 what lump sum should be invested today at 8% compounded semiannually to yield 26000?
Click here to see answer by stanbon(26249) |
Question 86996: I need help with these problems.. plese show me how to solve them...thanks....
Problem# 4
Find the effective rate corresponding to the given nominal
18% compounded quarterly.
Problem# 7
Find the future value of the ordinary annuity.
If R =$2,500, I = 5% interest compounded quarterly for 16 years
Problem# 10
Find the present value of the ordinary annuity.
Payments of $17,000 made annually for 10 years at 12% compounded annually.
Click here to see answer by stanbon(26249) |
Question 86995: PLEASE HELP ME I NEED HELP UNDERSTANDING HOW TO SOLVE THEM STEP BY STEP....
Problem #8
Which of the following investments is larger after 19 years?
(a) $7500 is deposited annually and earns 4.5% interest compounded annually.
(b) $600 is deposited monthly and earns 4.5% interest compounded monthly.
Problem #9
Find monthly payment.
In order to purchase a home, a family borrows $26000 at 10.8 % for 15 yr. What is their monthly payment? Round the answer to the nearest cent.
Click here to see answer by stanbon(26249) |
Question 86995: PLEASE HELP ME I NEED HELP UNDERSTANDING HOW TO SOLVE THEM STEP BY STEP....
Problem #8
Which of the following investments is larger after 19 years?
(a) $7500 is deposited annually and earns 4.5% interest compounded annually.
(b) $600 is deposited monthly and earns 4.5% interest compounded monthly.
Problem #9
Find monthly payment.
In order to purchase a home, a family borrows $26000 at 10.8 % for 15 yr. What is their monthly payment? Round the answer to the nearest cent.
Click here to see answer by jim_thompson5910(13785) |
Question 87062: Help please!!
P dollars is invested at annual interest rate r for 1 year. If the interest is compounded semiannually, then the polynomial P(1+r/2)^2 represents the value of the investment after 1 year. Rewrite this expression without parentheses and evaluate the polynomial if P=$200 and r=10%.
Click here to see answer by stanbon(26249) |
Question 87178: The futire value of an annuity is A= $32,000. Periodic payments are made quarterly for four years and the annuity earns 8% compounded quarterly. Find the perodic payments
A. $422.40
B. $1,716.80
C. $2,000.00
D. $2,160.00
Click here to see answer by stanbon(26249) |
Question 87051This question is from textbook Intoductory Algebra
: A bank loaned out $120,000, part of it at the rate of 8% annual mortgage interest and the rest at the rate of 18% annual credit card interest. The interest received on both loans totaled $10,000. How much was loaned at each rate?
I've tried calculating this and I can't make it work within the $10,000 interest amount. I keep coming up with more interest than this. The problem is from a worksheet handed out my the instructor and is not in my textbook. This question is from textbook Intoductory Algebra
Click here to see answer by rossiv53(27) |
Question 87282: growth and decay a=p(1+r/n)nt if $100,000 is invested in an account that pays 5.2% compounded quarterly, how much money will be in the account after 12 years? my teachers use this equation, and or a calculator, i tried to write out the problem and compound it quarterly... i came up with more money then they did. In our answer book, many of the answers to similar questions say about ????? If i were the investor, about is not an answer. I would want an exact amount, wuldn't you? creative accounting is not algebra!
Click here to see answer by ankor@dixie-net.com(6685)  |
Question 87971: a coffee merchant has coffee beans that sell for $9 per pund and &12 per pound. The two types are to be mixed to create 100LB of 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 stanbon(26249) |
Question 87971: a coffee merchant has coffee beans that sell for $9 per pund and &12 per pound. The two types are to be mixed to create 100LB of 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 tutorcecilia(2042) |
Question 88287: Hello, I have tried to figure this out but with no success can you help.
Bob invested $20,000, part at 14% and part at 13%. If the total interest at the end of the year is $2,720, how much did he invest at 14%?
this is what I have done so far but it is not proofing out. What am I doing wrong
0.14x+0.13(20,000-x)=2,720
0.14x+2,800-.013x=2,720
0.13x=2,720-2,800
.013x=200
X=200/0.13
X=1538.46 invested @ 14%
20,000-923.07 = 19,076.93 invested @ 13%
Click here to see answer by rapaljer(3610) |
Question 88589: I have this problem could someone help thank you.
A principal of $5000 was invested in a savings account for 4 years. If the interest earned for the period was $400, what was the interest rate?
Click here to see answer by dolly(163) |
Question 88618: The demand equation for a certain type of printer is given by D=-200p + 35,000. The supply equation is predicted to be S=-p^2+400p-20,000.
My answer is: D=S
-200p+35000=p^2+400p-20000
p^2-600p+55000=0
Whereas p^2+ap+b=0, Am I right??? Thanks ;0)
Click here to see answer by jim_thompson5910(13785) |
Question 88680: When Molly’s dot-com employer fell on bad times, she has to take a 20% cut in pay. How big a raise would she need to restore her salary to what it had been? OK; too easy. To get more than one point for this one, try give a general rule for this type of problem. If you get an x% cut in pay, what size raise do you need to restore your salary?
Click here to see answer by stanbon(26249) |
Question 88681: Lisa is trying to work out the best phone deal. AT&T is offering long distance service for $0.04/minute after paying a flat $7.00/month. Ameritech will charge $0.07/minute and NO monthly payments. Under what conditions is AT&T the better deal? When is Ameritech the better deal?
Click here to see answer by ankor@dixie-net.com(6685) |
Question 89106This question is from textbook
: I have not done algebra related questions in over 20-years and now I am lost!! The question is:
How much would need to be invested at 3.25% annual simple interst to amount to $6510 in 5 years?This question is from textbook
Click here to see answer by askmemath(368) |
Question 89335This question is from textbook Beginning Algebra
: I am not sure I am working this problem correctly could I please get some help on this word problem? Thank you in advance...
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.
I appreciate any insight you can give me on this problem. This question is from textbook Beginning Algebra
Click here to see answer by THANApHD(104)  |
Question 89268: PLEASE HELP!!! I need help with the following question. I am using the formula PMT= iFV/(1+i)^n. However, I can't get to the final answer which I feel is $2096.
Mary and Joe would like to save up $10,000 by the end of three years from now to buy new furniture for their home. They currently have $2500 in a savings account set aside for the furniture. They would like to make equal year end deposits to this savings account to pay for the furniture when they purchase it three years from now. Assuming that this account pays 8% interest, how much should the year end payments be?
Show all work for each assignment and explain each step carefully.
Thanks in advance - lj
Click here to see answer by stanbon(26249) |
Question 89427: Tickets for an event cost $4 for children, $12 for adults, and $7 for senior citizens. The total ticket sales were $1920. There were 50 more adult tickets sold than child tickets, and the number of senior citizens tickets were 4 times the number of child tickets. How many of each ticket were sold?
Click here to see answer by ankor@dixie-net.com(6685) |
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