Tutors Answer Your Questions about Finance (FREE)
Question 119198: What is the least posititve number of coins that is IMPOSSIBLW to give as change for a dollar?
I am understanding this to mean what is the smallest number of coins that can't combine to make $1. We charted it out starting at 1 (a dollar coin) 2 (two half dollars) 3 (hald dollar and 2 quarters) etc but are in the late 20s and still going. Is there a formula we could be using? THANKS!!
Click here to see answer by Edwin McCravy(20055)   |
Question 119676: A boy has 93 cents in pennies, nickels, dimes, and quarters. He has two more quarters than dimes. If he has as many nickles as dimes and as many pennies as quarters, how many of each coin does he have?
He has _____ penny(s), _____ nickel(s), _____ dime(s), and _____ quarter(s).
Click here to see answer by scott8148(6628)  |
Question 119672: A club treasurer has $28.45 consisting of nickles, dimes, and quarters. She has 9 more nickles than dimes and three times as many dimes as quarters. How many does she have of each coin?
She has ____ nickles, ____ dimes, and ____ quarters.
Click here to see answer by stanbon(75887) |
Question 120132: answer for one video club charges $25 to become a member and $2.50 to rent each video another charges no rental fee and $3.25 to rent each video how many videos must you rent to make the first club more economical
Click here to see answer by bucky(2189) |
Question 120323: Wilma wants to have $2,000,000.00 when she retires in 45 years. Assuming that she can average 4.5% return anually in treasury bills, then how much must she invest now in treasury bills to achieve her goal?
This is how I worked it:
0.045X x 45 = 2,000,000
0.045X = 44444.44
X = 987653.33
Click here to see answer by solver91311(24713)  |
Question 120323: Wilma wants to have $2,000,000.00 when she retires in 45 years. Assuming that she can average 4.5% return anually in treasury bills, then how much must she invest now in treasury bills to achieve her goal?
This is how I worked it:
0.045X x 45 = 2,000,000
0.045X = 44444.44
X = 987653.33
Click here to see answer by Fombitz(32388)  |
Question 120322:
Wilma wants to have $2,000,000.00 when she retires in 45 years. Assuming that she can average 4.5% return anually in treasury bills, then how much must she invest now in treasury bills to achieve her goal?
This is how I worked it:
0.045X x 45 = 2,000,000
0.045X = 44444.44
X = 987653.33
Click here to see answer by checkley71(8403) |
Question 120868: Could you please help solve for this problem it has 4 parts? I don't know where to start.
The path of a falling object is given by the function s=-16t^2+v0t+s0 where v0 represents the initial velocity in ft/sec and s0 represents the initial height. The variable t is time in seconds, and the s is the height of the object in feet.
a) If a rock is thrown upward with an initial velocity of 32 feet per second from the top of a 40-foot building, write the height equation using this information.
b) How high is the rock after 0.5 seconds?
c) After how many sections will the rock reach maximum height?
d)What is the maximum height?
Please show all work
Thanks in advance for your help.
Click here to see answer by stanbon(75887) |
Question 120868: Could you please help solve for this problem it has 4 parts? I don't know where to start.
The path of a falling object is given by the function s=-16t^2+v0t+s0 where v0 represents the initial velocity in ft/sec and s0 represents the initial height. The variable t is time in seconds, and the s is the height of the object in feet.
a) If a rock is thrown upward with an initial velocity of 32 feet per second from the top of a 40-foot building, write the height equation using this information.
b) How high is the rock after 0.5 seconds?
c) After how many sections will the rock reach maximum height?
d)What is the maximum height?
Please show all work
Thanks in advance for your help.
Click here to see answer by solver91311(24713) |
Question 121480: Frank's credit card statement shows a balance of $638.19 on the first day of the billing cycle. If he makes a payment of $475 and charges $317 during this billing period, what will his finance charge be, if the interest rate is 1.5% of the unpaid balance per month? What will be his beginning balance at the start of the next billing cycle?
Click here to see answer by Fombitz(32388) |
Question 122771: I figured out the answer but I am clueless as to the equation. Can you please help???? thanks
Simple interest word problems refer to applications in which money is invested in an account paying simple interest rather than compounded. The relationship between principle (P), interest rate (r), length of time the money is invested (t), and earned interest (I) is given by the following formula:
I = Prt
An approach to solving a simple interest problem runs pretty close to how one would set up a table and from that table, formulate a single variable equation to solve the problem. As an example, consider the following simple interest problem.
Mr. Jones deposits $8000 in one simple interest account and $2000 in a second simple interest account. The interest rate on the $8000 account is 2% more than the rate on the $2000 account. If the total yearly amount of interest on the two accounts is $578, find the interest rate on each account.
Steps to solve this problem:
Step 1: Identify which column you can complete from the information given in the problem (without having to use a variable) and fill it out. In this case you can set up a table since you know the amount invested in each account.
Principle T (Time) R ( rate) = Interest
$8000 account $8000
$2000 account $2000
Step 2: Identify what you are looking for and define your variable. Here we are looking for the interest rate on each account. But since they are not the same interest rate we cannot let x represent them both. Arbitrarily I will choose the following:
Let x represent the interest rate for the $2000 account.
• Place x in the appropriate cell (interest rate of the $2000 account)
• Fill out the rest of the column using the fact that the interest rate of the $8000 account is 2% more than the interest rate (x) of the $2000 account.
Principle T (Time) R ( rate) = Interest
$8000 account $8000 x + .02
$2000 account $2000 x
Note: We want to express the interest rate as a decimal rather than a percentage. Therefore, instead of using 2% (the percent form) we use .02 (the decimal form).
Step 3: Since the money is only deposited for one year, Time = 1. Fill out the last column by using the first two columns and following the equation at the top of the chart
Prt = I
Principle T (Time) R ( rate) = Interest
$8000 account $8000 (1) x + .02 $8000 (x+.02)
$2000 account $2000 (1) x $2000 (x)
Step 4: The equation that will model this problem will now be drawn from the last column
Interest earned on the $8000 account + Interest earned on the $2000 account
= $578
8000 (x+.02) + 2000 (x) = 578
Step 5: Now solve the equation and answer the original question.
Solving, we get: x = .0418 and x + .02 = .0618
Answer to the original question: The interest rate on the $2000 account is 4.18% and the interest rate in the $8000 account is $6.18%.
Now using this example as a template, formulate the following problem in a table format and solve the following problem. Keep in mind that full credit for this project will only be awarded if your solution is correct.
Ms. Parker deposits $8000 in one simple interest account and $2000 in a second simple interest account. The interest rate on the $8000 account is 2% more than the rate on the $2000 account. If the total yearly amount of interest earned on the $8000 account is $459 more than the interest earned on the $2000 account, find the interest rate on each account. Clearly state your solution in relation to the interest rate on each account.
The interest on the $8000 account is .069834 = 6.9834%
The interest on the $2000 account is .049834 = 4.9834%
Click here to see answer by stanbon(75887) |
Question 126501: Malcome has $1043 in bills of the following denominations: hundreds,fifties,twenties,fives,and ones. He has three times as many fifties as hundreds,twelve times as many twenties as hundreds, and four times as many ones as hundreds. He has nine more fives than hundreds. How many of each denomination of bill does he have?
Click here to see answer by marcsam823(57) |
Question 126956: Alfred wants to invest $4,000 at 6% simple interest rate for 5 years. How much interest will he receive? I used the formula but i did not get the right answer, ineed to see waht im doing wrong, thanks.
Click here to see answer by ljtrimble(2) |
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