Tutors Answer Your Questions about Finance (FREE)
Question 1206528: A loan of $ 12,000 is to be repaid within one year with level monthly payments, due at the beginning of each month. The 12 payments equal $ 1,000 each. A finance charge of $ 632 is also due with the first payment. What is the effective annual interest rate on the loan?
Effective annual interest rate =
Click here to see answer by ikleyn(52781)  |
Question 1206556: Each student in a random sample of seniors at a local high school participated in a survey. These students were asked to indicate their gender and their eye color. The following table summarizes the results of the survey.
a. What is the probability that the student has blue eyes?
b. What is the probability that the student is male?
c. What is the probability that the students have green eyes or a female?
Brown. Blue. Green
Male 18. 15 16
Female. 12. 20 14
Click here to see answer by ikleyn(52781)  |
Question 1206626: Starting on July 1, 2000, Peter borrows $8200
each year for 4 years from his dear Aunt May to pay for college. (Note: the last date that he borrows money is July 1, 2003.) From the beginning, Aunt May agreed to defer all interest on the loans until Peter finds a job; i.e. Peter's loans will not accumulate any interest until the first day he starts working. After that, Peter will be charged 8.4 percent compounded semiannually, and he will pay Aunt May back with 12 equal semiannual payments, the first coming 6 months after he starts his job. Peter finds a job as a photographer for a local newspaper, and his first day of work is July 1, 2004. For tax reasons, Peter needs to compute the total amount of interest that he will pay to Aunt May in the year 2007. How much in interest did Peter actually pay in 2007?
Answer =
.
(Note: Your answer should include a dollar sign and be accurate to two decimal places)
Click here to see answer by ikleyn(52781)  |
Question 1206593: Starting on July 1, 2000, Peter borrows $8,700.00 each year for 4 years from his dear Aunt May to pay for college. (Note: the last date that he borrows money is July 1, 2003.) From the beginning, Aunt May agreed to defer all interest on the loans until Peter finds a job; i.e. Peter’s loans will not accumulate any interest until the first day he starts working. After that, Peter will be charged 7 per- cent compounded semiannually, and he will pay Aunt May back with 20 equal semiannual payments, the first coming 6 months af- ter he starts his job. Peter finds a job as a photographer for a local newspaper, and his first day of work is July 1, 2004. For tax rea- sons, Peter needs to compute the total amount of interest that he will pay to Aunt May in the year 2007. How much in interest did Peter actually pay in 2007?
Click here to see answer by ikleyn(52781)  |
Question 1206847: Please help with the homework below
1. The external radius of a water tank of height 1.75m, made of wood 20mm thick, is 0, 45m. How many squares meters of waterproofing material will be needed to line the sides and bottom of the water tank?
Click here to see answer by mananth(16946)  |
Question 1206886: 2016 FICA Tax Rates1
Employee's Rates Matching Rates Paid by
the Employer Self-Employed Rates
7.65% on first $118,500 of income
1.45% on income above $118,500
7.65% on first $118,500 paid in wages
1.45% on wages above $118,500
13.3% on first $118,500 of net earnings
2.9% on earnings above $118,500
1FICA taxes include Social Security and Medicare. The Social Security tax applies to the first $118,500 of income, while the Medicare tax applies to all income.
Suppose Nina has $207,500 of income from work and is not self-employed. How much will Nina have to pay in FICA taxes?
Click here to see answer by Theo(13342)  |
Question 1206900: Please help with the homework below:
The external radius of a water tank of height 1,75m, made of wood 20mm thick, is 0,45m. How many square meters of waterproofing material will be needed to line the sides and bottom of the water tank?
Click here to see answer by MathLover1(20849)  |
Question 1206900: Please help with the homework below:
The external radius of a water tank of height 1,75m, made of wood 20mm thick, is 0,45m. How many square meters of waterproofing material will be needed to line the sides and bottom of the water tank?
Click here to see answer by ikleyn(52781)  |
Question 1206987: Please help with the homework below:
1.The tank has the following dimensions:
Height of the tank is 85cm
Width of the tank is 20cm
Inside diameter is 160cm
1.1 Determine the outside diameter of the tank
1.2 Calculate the volume of the tank
1.3 Calculate the volume of the concrete wall
Click here to see answer by MathLover1(20849)  |
Question 1206987: Please help with the homework below:
1.The tank has the following dimensions:
Height of the tank is 85cm
Width of the tank is 20cm
Inside diameter is 160cm
1.1 Determine the outside diameter of the tank
1.2 Calculate the volume of the tank
1.3 Calculate the volume of the concrete wall
Click here to see answer by Solver92311(821)  |
Question 1206988: Hats in a Bag
Zack, Susie and Peter are standing in a line. All are facing in the same direction. Zack is facing the wall. Susie is behind Zack and Peter is behind Susie. They all know that Mr. Smith has four black and two red hats in a bag. Mr. Smith asks them to close their eyes and randomly puts one hat on each of them. He tells them to open their eyes.
He then asks a question," Tell me the color of the hat you are wearing?"
After a few minutes of silence, Zack started jumping in excitement and yelled that he was wearing a ______ hat. Remember that they can only look in front of them.
Which color was Zack’s hat?
Click here to see answer by math_tutor2020(3817) |
Question 1206988: Hats in a Bag
Zack, Susie and Peter are standing in a line. All are facing in the same direction. Zack is facing the wall. Susie is behind Zack and Peter is behind Susie. They all know that Mr. Smith has four black and two red hats in a bag. Mr. Smith asks them to close their eyes and randomly puts one hat on each of them. He tells them to open their eyes.
He then asks a question," Tell me the color of the hat you are wearing?"
After a few minutes of silence, Zack started jumping in excitement and yelled that he was wearing a ______ hat. Remember that they can only look in front of them.
Which color was Zack’s hat?
Click here to see answer by ikleyn(52781)  |
Question 1207038: Bruno deposits $550 in an account that pays 8.3% simple interest.
How long will it take for Bruno's investment to double if he never
withdraws money from the account?
Ⓐ 13 months
Ⓑ 22 months
Ⓒ 145 months
Ⓓ 642 months
Click here to see answer by Theo(13342)  |
Question 1207160: Arianna invested $1,500 into a savings account that earns an annual
interest rate of 5%. The interest is compounded monthly. Which is
the total amount Arianna will have in the account in 4 years?
Ⓐ $1,603.19
Ⓑ $1,800
Ⓒ $1,831.34
Ⓓ $31,500
Click here to see answer by ikleyn(52781)  |
Question 1207160: Arianna invested $1,500 into a savings account that earns an annual
interest rate of 5%. The interest is compounded monthly. Which is
the total amount Arianna will have in the account in 4 years?
Ⓐ $1,603.19
Ⓑ $1,800
Ⓒ $1,831.34
Ⓓ $31,500
Click here to see answer by greenestamps(13200)  |
Question 1207213: Tanks are long lasting and are available in various sizes. Holding capacity ranges from as small as 3m diameter ×1.5m high (10000 litres) up to 12m diameter × 2.2m high(? Litres)
1. Determine the circumference of the small tank
2. Prove by means of calculation that the smaller tank has a capacity of 10000 or more litres
Click here to see answer by josgarithmetic(39617) |
Question 1207236: The following constraints are given for a linear programming problem
y + 2x>8
3y +2x>18
y<2x
x>1
1. Sketch the graph with the given constraints.
2. Shade the feasible region on the graph.
3. Find the values of x and y that will maximize the profit if the objective function is P= x + y.
Click here to see answer by ikleyn(52781)  |
Question 1207268: The following constraints are given for a linear programming problem :
Y+ 2x is greater than 8
3y + 2x is greater than or equal to 18
Y is less than or equal to 2x
X is great than or equal to 1
1. Sketch the graph with the given constraints
2. Shade the feasible region on the graph
3. Find the values of x and y that will maximize the profit if the objective function is P= x+y.
Click here to see answer by ikleyn(52781)  |
Question 1207284: With Mrs. Esterburg as their science teacher, several students asked Mr. Smith to help them with their design for the project.
“Here are my requirements for the project,” said Mr. Smith. “I would like you to arrange 10 trees, in 5 straight rows, with 4 trees in each row.”
How will you accomplish this most difficult problem?
Please be specific in your solution. Explain how you solved this problem and show me what your design will look like!
Click here to see answer by ikleyn(52781)  |
Question 1207321: Below is a payslip of Sarah who is the receptionist at slinky feet beauty salon
Payslip Banking details:Strongest Bank
Employees name : Sarah Pointe Cheque account : 10234567234
Job title : Receptionist Date: 2024-01-03
Pay month: March 2024
Basic monthly pay R5670.00 Income R6540.00
Overtime:
3 hours R870.00 Taxable income R5533.33
PAYE R996.00
UIF R65.40
Total deduction R1061.40
Gross pay R6540.00 Net Pay R5478.60
1. Sarah's taxable income is less than her income.This because there is a tax rebate of R12080.00 for the year. Show that the tax rebate is R1006.67 for the months
Click here to see answer by ikleyn(52781)  |
Question 1207346: Amana owns two houses in the same community. The ratio of the values of the first to the second house is 10: 15 respectively. It is estimated that in 6 years, the value of the first house will increase by 35% and that of the second house will increase by $30,825.00. If the new ratio is 3: 4, find the original value of the first house.
Click here to see answer by mananth(16946)  |
Question 1207358: Ahsan works as a cashier.He earns Rs 150 per hour.His shifts are 8 hours long.
He works 5 shifts a week.
He also works as a local laundry shop and earns Rs 12000 per month.
What is his total amount earned per month?
Click here to see answer by Theo(13342)  |
Question 1207419: Keys Company has a target of establishing a fund of $50 OOO. If $10 OOO is deposited at the end of every six months, and the fund earns interest at 4% compounded quarterly, how long will it take to reach the target?
Click here to see answer by ikleyn(52781)  |
Question 1207418: For how many years will Prasad make payments on the $28 OOO he borrowed to start his machine shop if he makes payments of $3400 at the end of every three months and interest is 8.08% compounded semi-annually?
Click here to see answer by ikleyn(52781)  |
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