Tutors Answer Your Questions about Money Word Problems (FREE)
Question 448368: Jim opens a savings account with a deposit of $10,000. If the account has an annual interest rate of 6%, compounded quarterly, how much is in the account after one year.
Can you show me steps on how to work this problem. It's been years since I had algebra. Thank you so much.
Click here to see answer by ikleyn(53419)   |
Question 442367: 20000$ is split into two investments one paying 5% and the other paying 6.5% to the nearest cent how much should be invested in each so the yearly intrest from the 5% investment is double the intrest from 6.5% investment
Click here to see answer by timofer(136) |
Question 442367: 20000$ is split into two investments one paying 5% and the other paying 6.5% to the nearest cent how much should be invested in each so the yearly intrest from the 5% investment is double the intrest from 6.5% investment
Click here to see answer by ikleyn(53419) |
Question 729539: Alison deposits $500 into a new savings account that earns 5 percent interest compounded annually. If Alison makes no additional deposits or withdrawals, how many years will it take for the amount in the account to double?
Click here to see answer by ikleyn(53419) |
Question 729622: 1. formulate but DO NOT solve the problem.
the johnson farm has 600 acres of lad allotted for cultivating corn and wheat. the cost of cultivating corn and wheat (including seeds and labor) is $51 and $25/acre, respectively. Jacob Johnson has $20,200 available for cultivating these crops. if he wishes to use all the allotted land and his entire budget for cultivating these two crops, how many acres of each crop should he plant? Let X be the number of acres allotted for cultivating corn
Click here to see answer by ikleyn(53419) |
Question 729591: A customer purchased a car and financed $15,000. The customer borrowed part of the money from a bank charging 10% annual interest and the rest from a credit union at 9% annual interest. If the total interest fro the year was $1430, how much was borrowed from the credit union?
Click here to see answer by ikleyn(53419) |
Question 730004: Mr Gorman spent $18 on some paintbrushes and colored pencils. He bought 4 times as many colored pencils as paintbrushes. Each paintbrush cost $3 and and each colored pencil cost $0.75. How many colored pencils did Mr. Gorman buy?
Click here to see answer by timofer(136) |
Question 730004: Mr Gorman spent $18 on some paintbrushes and colored pencils. He bought 4 times as many colored pencils as paintbrushes. Each paintbrush cost $3 and and each colored pencil cost $0.75. How many colored pencils did Mr. Gorman buy?
Click here to see answer by ikleyn(53419) |
Question 730741: Last year, Ashley had to invest. She invested some of it in an account that paid simple interest per year, and she invested the rest in an account that paid simple interest per year. After one year, she received a total of in interest. How much did she invest in each account?
Click here to see answer by greenestamps(13258)  |
Question 730741: Last year, Ashley had to invest. She invested some of it in an account that paid simple interest per year, and she invested the rest in an account that paid simple interest per year. After one year, she received a total of in interest. How much did she invest in each account?
Click here to see answer by timofer(136) |
Question 730741: Last year, Ashley had to invest. She invested some of it in an account that paid simple interest per year, and she invested the rest in an account that paid simple interest per year. After one year, she received a total of in interest. How much did she invest in each account?
Click here to see answer by josgarithmetic(39701) |
Question 730741: Last year, Ashley had to invest. She invested some of it in an account that paid simple interest per year, and she invested the rest in an account that paid simple interest per year. After one year, she received a total of in interest. How much did she invest in each account?
Click here to see answer by ikleyn(53419) |
Question 1166329: Edmonds Community College's (EDCC) scholarship fund received a gift of $ 110,000.
The money is invested in stocks, bonds, and CDs.
CDs pay 5.25% interest, bonds pay 5% interest, and stocks pay 10.8% simple interest.
EDCC invests $ 10,000 more in bonds than in CDs.
If the annual income from the investments is $7,328 , how much was invested in each vehicle?
solve by the method of your choice either using reduced row echelon form or the matrix equation
Click here to see answer by ikleyn(53419) |
Question 1166329: Edmonds Community College's (EDCC) scholarship fund received a gift of $ 110,000.
The money is invested in stocks, bonds, and CDs.
CDs pay 5.25% interest, bonds pay 5% interest, and stocks pay 10.8% simple interest.
EDCC invests $ 10,000 more in bonds than in CDs.
If the annual income from the investments is $7,328 , how much was invested in each vehicle?
solve by the method of your choice either using reduced row echelon form or the matrix equation
Click here to see answer by CPhill(2138)  |
Question 1166623: The weights (in kg) of 35 persons are given below:
43, 51, 47, 62, 48, 40, 50, 62, 53, 56, 40, 48, 56, 53, 50, 42, 55, 52, 48, 46, 45, 54, 52, 50, 47, 44, 54, 55, 60, 63, 58, 55, 60, 58, 53
a) Group this data by using the Sturges’ formula to determine the number of classes. Keep the width of each class equal.
b) Find the mean, median, standard deviation and variance of the grouped data obtained in (a) above.
Click here to see answer by CPhill(2138) |
Question 588547: A person hired a firm to build a CB radio tower. The firm charges $100 for labor for the first 10 feet. After that, the cost of the labor for each succeeding 10 feet is $25 more than the preceding 10 feet. That is, the next 10 feet will cost $125, the next 10 feet will cost $150, etc. How much will it cost to build a 90-foot tower?
Click here to see answer by ikleyn(53419) |
Question 1206600: Suppose you can afford to pay at most $2650 per month for a mortgage payment. If the maximum amortization period you can get is 20 years, and you must pay 6% interest per year compounded annually, what is the most expensive house you can buy? How much interest will you have paid to the lender at the end of the loan?
Click here to see answer by ikleyn(53419) |
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