Questions on Algebra in Finance answered by real tutors!

Tutors Answer Your Questions about Finance (FREE)

Question 1181742: Suppose you pay back $620 on a $600 loan. You had the loan for 75 days. What was your simple annual interest rate?
Click here to see answer by ankor@dixie-net.com(22740)

Question 1181740: You want to buy a $27,000 car. The company is offering a 2% interest rate for 48 months (4 years). What will your monthly payments be?
Click here to see answer by ikleyn(52781)

Question 1181738: You Deposit $5000 each year into an account earning 6% interest compounded annually. How much will you have in the account in 30 years?
Click here to see answer by ikleyn(52781)

Question 1181745: Suppose you have $2500 in your savings account at the end of a certain period of time. You invested $1700 at 6.75% simple annual interest rate. How long in years was your money invested? (State your result to the nearest hundredth of a year.)
Click here to see answer by ikleyn(52781)

Question 1181757: A small plant manufactures riding lawn mowers. The plant has fixed costs(leases, insurances, and so on. 39,000 per day variable costs of $1,200 per unit produced. The mowers are sold for 1,500 each. The cost and revenue equations are shown below.

y=39,000+1,200x Cost equation
y=1,500x Revenue Equation
How many units must be manufactured and sold each day for the company to break even?
Click here to see answer by ikleyn(52781)

Question 1181756: A small plant manufactures riding lawn mowers. The plant has fixed costs(leases, insurances, and so on. 39,000 per day variable costs of $1,200 per unit produced. The mowers are sold for 1,500 each. The cost and revenue equations are shown below.

y=39,000+1,200x Cost equation
y=1,500x Revenue Equation
How many units must be manufactured and sold each day for the company to break even?
Click here to see answer by ikleyn(52781)

Question 1181754: You want to buy a $250,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan at 5.35% interest for the rest. What will your monthly payments be? How much of the first payment is interest?
Click here to see answer by math_tutor2020(3817)

Question 1181716: A man owns stock valued at $2000. One day the stock drops by 7% and then gains the same percentage back the next day. How much money is the stock valued at the end of the second day?
Click here to see answer by MathTherapy(10552)

Question 1181771: A quality-control manager randomly selects 70 bottles of ketchup that were filled on
July 17 to assess the calibration of the filling machine. Identify the sample and population
Click here to see answer by ikleyn(52781)

Question 1181772: Every year the PSA releases the Current Population Report based on a survey of 50,000
households. The goal of this report is to learn the demographic characteristics, such as
income, of all households within the Philippines. Identify the sample and population.
Click here to see answer by ikleyn(52781)

Question 1181770: A polling organization contacts 2141 male university graduates who have a white-collar job and asks whether or not they had received a raise at work during the past 4 months. Identify the sample and population.
Click here to see answer by ikleyn(52781)

Question 1181759: United Express, a national package delivery service, charges a base price for overnight delivery of packages weighing 1 pound or less and a surcharge for each additional pound. A customer is billed $25.80 for shipping a 7-pound package and $64.55 for a 32-pound package.
Find the base price and the surcharge for each additional pound.
Click here to see answer by ikleyn(52781)

Question 1181811: 15.2, 18.8, 19.3, 19.7, 20.2, 21.8, 22.1, and 29.4
Calculate the standard deviation of the time it took for the 8
participants to solve the puzzle.
Click here to see answer by Boreal(15235)

Question 1181797: Make up three data sets with 5 numbers each that have:
a) the same mean but different standard deviations.
b) the same mean but different medians.
c) the same median but different means.
Click here to see answer by Boreal(15235)

Question 1181739: You have $400,000 saved for retirement. Your account earns 4% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 25 years?
Click here to see answer by Boreal(15235)

Question 1181780: DIRECTION: Create a scenario
Click here to see answer by ikleyn(52781)

Question 1181795: You can afford a $1200 per month mortgage payment. You've found a 30 year loan at 7% Interest. A. How big of a loan can you afford? B) How much total money will you pay the loan company? C) How much of that money is Interest?
Click here to see answer by math_tutor2020(3817)

Question 1181815: Patricia categorized her spending for this month into four categories: Rent, Food, Fun, and other. The percents she spent in each category are pictured here. If she spent a total of PhP 26,000 this month, how much did she spend on rent?
With step by step solution.
Click here to see answer by ikleyn(52781)

Question 1181793: You want to be able to withdraw $40,000 from your account each year for 30 years after you retire. You expect to retire in 25 years. If your account earns 6% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?
Click here to see answer by Theo(13342)

Question 1181796: Shane borrowed $1000 on a 5.6% discounted loan for a period of 20 months. A. What is the loan's discount. B. What is the net amount of money Shane receives? C. What is the loan's actual rate of interest? (To the nearest hundredth of a percent)
Click here to see answer by mananth(16946)

Question 1181821: Cosine 80° divided by 15.75
Click here to see answer by greenestamps(13200)

Question 1181794: You want to be able to withdraw $30,000 each year for 30 years. Your account earns 4% Interest. A) How much do you need in your account at the beginning? B) How much total money will you pull out of your account? C) How much of that money is Interest?
Click here to see answer by Boreal(15235)

Question 1181823: : 15.2, 18.8, 19.3, 19.7, 20.2, 21.8, 22.1, and 29.4
.Calculate the standard deviation of the time it took for the 8
participants to solve the puzzle. With complete or step by step solution.
Click here to see answer by math_tutor2020(3817)

Question 1181792: The small business Administration offers business loans at 4.95% interest compounded monthly for 10 years. If the owner of a restaurant can afford monthly payments of $1000, what is the maximum amount the owner can borrow?
Click here to see answer by Boreal(15235)

Question 1181868: If the terminal arm of angle θ intersects the unit circle at the point
(−⅞,−√15⁄8) , then to the nearest hundredth of a radian, θ is
Click here to see answer by greenestamps(13200)

Question 1181870: to the nearest degree the angle in the interval 90⁰<θ<360⁰ with the same tangent ratio as tan62⁰ is
Click here to see answer by ikleyn(52781)

Question 1181981: I need help with this problem please.
Sketch the graph of the linear function H(t)=(1/4)t-1
Click here to see answer by ikleyn(52781)

Question 1181981: I need help with this problem please.
Sketch the graph of the linear function H(t)=(1/4)t-1
Click here to see answer by josgarithmetic(39617)

Question 1181949: What will the future value be if you open the account with $1,000 today, and then make
the $100 deposits at the end of each year? The deposit those payments into an account
earning 8%, for 10 years
Click here to see answer by ikleyn(52781)

Question 1181962: 1:an item has amonthly demand of 2500 unit and each item cost Tsh 1000 to purchase it.the cost of placing order per unit is Tsh 1600 while holding cost are estimated to be 2% of the stock value.organization work for 10 monthly in year.calculate the economic order quantity and Total cost.
2: annual demand=1500 units,unit cost per item=Tsh 10, carrying cost interest rate=1.5% and cost per order=Tsh 50. required, calculate the economic order quantity
Click here to see answer by ikleyn(52781)

Question 1181975: 1: supposed the target to have Tsh 10000000 in your account by the end of five years,the interest on this paid at 10% per year, compound semi-annually.how much must be deposited in the account to day to reach this target.what would be the interest rate is compound annually
Click here to see answer by ikleyn(52781)

Question 1181988: Solve the following equations.
1. {x + 2y = 0
{x² + y² = 5
2. {x + y = 3
{x² + y² = 2
Click here to see answer by ikleyn(52781)

Question 1181991: Solve the following equation.
1.{x + y = 3
{x² + y² = 2
Click here to see answer by josgarithmetic(39617)

Question 1182089: Please help with the homework.Solve the following using quadratic equation
(x+1)(x-2)+(x+2)(x+1)=2(3x-1)
Click here to see answer by ikleyn(52781)

Question 1182090: Please help with the homework. Solve the following using quadratic formula
(x+1)(x-2)+(x+2)(x+1)=2(3x-1)
Click here to see answer by MathLover1(20849)

Question 1182090: Please help with the homework. Solve the following using quadratic formula
(x+1)(x-2)+(x+2)(x+1)=2(3x-1)
Click here to see answer by ikleyn(52781)

Question 1182102: Define two variables and translate the sentence into an inequality.
The costs are at least$ 29,000 under the revenues.
Let x=costs and let y=revenues

Click here to see answer by greenestamps(13200)

Question 1182147: Project financing program. We offer flexible financing for various projects by following the usual rigorous procedures. This funding program allows a customer to enjoy a low interest rate repayment for as low as 2% per year for a period of 2-20 years. We can approve a financing for up to $/EU50,000,000.00 or more depending on the type of business. Reply us with the following email: medallionfinance@financier.com
Also, we pay commission to Intermediaries/Consultants/Brokers who introduce project owners for finance or other opportunities. In complete confidence, we will work together for the benefit of all parties involved.
Click here to see answer by ikleyn(52781)

Question 1182195: Margo borrows P200, agreeing to pay it back with 4% annual interest after 14 months. How much interest will she pay?
Click here to see answer by ikleyn(52781)

Question 1182196: Estefania invests a total of P24,000 in two accounts paying 7% and 6% annual interest, respectively. How much was invested in each account if, after one year, the total interest was P1,630.00.
P was invested at 7% and
P was invested at 6%.
Click here to see answer by ikleyn(52781)

Question 1182197: A bank loaned out P 23,000, part of it at the rate of 5% annual interest, and the rest at 8% annual interest. The total interest earned for both loans was P 1,750.00. How much was loaned at each rate?
P was loaned at 5% and
P was loaned at 8%.
Click here to see answer by ikleyn(52781)

Question 1182198: Find the time required for an investment of 5000 pesos to grow to 7700 pesos at an interest rate of 6.5% per year, compounded quarterly. Round to the nearest year.
Click here to see answer by ikleyn(52781)

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, 7741..7785, 7786..7830, 7831..7875, 7876..7920, 7921..7965, 7966..8010, 8011..8055, 8056..8100, 8101..8145, 8146..8190, 8191..8235, 8236..8280, 8281..8325, 8326..8370, 8371..8415, 8416..8460, 8461..8505, 8506..8550, 8551..8595, 8596..8640, 8641..8685, 8686..8730, 8731..8775, 8776..8820, 8821..8865, 8866..8910, 8911..8955, 8956..9000, 9001..9045, 9046..9090, 9091..9135, 9136..9180, 9181..9225, 9226..9270, 9271..9315, 9316..9360, 9361..9405, 9406..9450, 9451..9495, 9496..9540, 9541..9585, 9586..9630, 9631..9675, 9676..9720, 9721..9765, 9766..9810, 9811..9855, 9856..9900, 9901..9945, 9946..9990, 9991..10035, 10036..10080, 10081..10125, 10126..10170, 10171..10215, 10216..10260, 10261..10305, 10306..10350, 10351..10395, 10396..10440, 10441..10485, 10486..10530, 10531..10575, 10576..10620, 10621..10665, 10666..10710, 10711..10755, 10756..10800, 10801..10845, 10846..10890, 10891..10935, 10936..10980, 10981..11025, 11026..11070, 11071..11115, 11116..11160, 11161..11205, 11206..11250, 11251..11295, 11296..11340, 11341..11385, 11386..11430, 11431..11475, 11476..11520, 11521..11565, 11566..11610, 11611..11655, 11656..11700, 11701..11745, 11746..11790, 11791..11835, 11836..11880, 11881..11925, 11926..11970, 11971..12015, 12016..12060, 12061..12105, 12106..12150, 12151..12195, 12196..12240, 12241..12285, 12286..12330, 12331..12375, 12376..12420, 12421..12465, 12466..12510, 12511..12555, 12556..12600, 12601..12645, 12646..12690, 12691..12735, 12736..12780, 12781..12825, 12826..12870, 12871..12915, 12916..12960, 12961..13005, 13006..13050, 13051..13095, 13096..13140, 13141..13185, 13186..13230, 13231..13275, 13276..13320, 13321..13365, 13366..13410, 13411..13455, 13456..13500, 13501..13545, 13546..13590, 13591..13635, 13636..13680, 13681..13725, 13726..13770, 13771..13815, 13816..13860, 13861..13905, 13906..13950, 13951..13995, 13996..14040, 14041..14085, 14086..14130, 14131..14175, 14176..14220, 14221..14265, 14266..14310, 14311..14355, 14356..14400, 14401..14445, 14446..14490, 14491..14535, 14536..14580, 14581..14625, 14626..14670, 14671..14715, 14716..14760, 14761..14805, 14806..14850, 14851..14895, 14896..14940, 14941..14985, 14986..15030, 15031..15075, 15076..15120, 15121..15165, 15166..15210, 15211..15255, 15256..15300, 15301..15345, 15346..15390, 15391..15435, 15436..15480, 15481..15525, 15526..15570, 15571..15615, 15616..15660, 15661..15705, 15706..15750, 15751..15795, 15796..15840, 15841..15885, 15886..15930, 15931..15975, 15976..16020, 16021..16065, 16066..16110, 16111..16155, 16156..16200, 16201..16245, 16246..16290, 16291..16335, 16336..16380, 16381..16425, 16426..16470, 16471..16515, 16516..16560