Questions on Word Problems: Money, Business and Interest answered by real tutors!

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 1011006: Carol has $8,000 invested in two mutual funds. One fund pays an interest rate of 2.7%, and the other pays an interest rate of 3.1%. Carol received a total of $226.00 in interest. How much is invested in each account?
Click here to see answer by fractalier(6550)

Question 1011022: You wish to buy a car for 2700.00. You can finance the car if you put down 30%. How much is your down payment and how much will be financed?
Click here to see answer by fractalier(6550)

Question 1011014: Tina wants to save money for school. Tina invests $1,100 in an account that pays an interest rate of 7.25%.
How many years will it take for the account to reach $6,600? Round your answer to the nearest hundredth.
Click here to see answer by addingup(3677)

Question 1011057: A person takes a loan of Rs.5000 at compound interest compounded annually. He pays Rs.2500 at the end of first year and Rs.3472 at the end of second year and clears the debt. If the rate of interest is the same in both the years. Find the rate of interest?
Click here to see answer by addingup(3677)

Question 1011054: Say a car company sells 20 cars each week at a price of $6400 each. The sales department says that for every increase in $300 in price, sales will fall by one car. The dealer's cost of each car is $4000. What price will maximize the profit for the company? What will be the equation be arranged as?
I know that profit is equal to revenue minus expenses but I dont know how to arrange the quadratic equation. Thank you
Click here to see answer by Theo(13342)

Question 1011159: if my initial investment of $2800 loses 1.5% each year, how much will I have after 7 years? I need the formula as well as the answer, please
Click here to see answer by Boreal(15235)

Question 1011176: Helen is saving to start a business. If she invests $10,000 in a savings account now, which of the following is the minimum interest rate required to ensure that she has $25,000 in her account in ten years time? Assume interest is compounded on an annual basis.
Select one:
1. 2.5%
2. 6.4%
3. 9.6%
4. 10.2%

Click here to see answer by Boreal(15235)

Question 1011184: I live in usa and life is worth living comfortably for me and my family now and really have never seen goodness shown to me this much in my life as I am a mother who struggles with three children and I have been going through a problem as seriously as my husband found a terrible accident last two weeks, and the doctors states that he needs to undergo a delicate surgery for him to be able to walk again and I could not pay the bills, then your surgery went to the bank to borrow and reject me saying that I have no credit card, from there i run to my father and he was not able to help, then when I was browsing through yahoo answers and i came across a loan lender MR TONY HARTON, offering loans at affordable interest rate and i have been hearing about so many scams on the internet but at this my desperate situation, I had no choice but to give it an attempt and surprisingly it was all like a dream, I got a loan of $ 50,000 and I paid for my husband surgery and thank God today is good and you can walk and is working and the burden is longer so much on me more and we can feed well and my family is happy today and i said to myself that I will mourn aloud in the world of the wonders of God to me through this lender GOD fearing MR TONY HARTON and I would advise anyone in genuine and serious need of loan to contact this God-fearing man on financialhome34@outlook.com through .. and I want you all to pray for this man for me
Thanks
Click here to see answer by Alan3354(69443)

Question 1011169: If sam sell 2 cars a week for each car he sells he make 150$ profit after 6 cars he makes 200$ a car how much he makes if he sold 10 cars a month
Click here to see answer by stanbon(75887)

Question 1011179: A pottery factory purchases a continuous belt conveyor kiln for $50,000. A 6.5% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $501, over what term is this loan being paid?
Select one:
1. 10 years
2. 11 years
3. 12 years
4. 13 years
Next
Click here to see answer by Theo(13342)

Question 1011290: How much would an investment of $40,000 with a return rate of 8% per year for 20 years be?

Click here to see answer by josgarithmetic(39614)

Question 1011347: Mr. Mendez bought a house for $150,000. He put 10% of the money down as a deposit. A bank gave him a loan for the rest of the money. Which equation can be used to find m, the amount of the bank loan?
Click here to see answer by stanbon(75887)

Question 1011353: how many years will it take for $490 to grow to 993.78 at 8 percent
Click here to see answer by Alan3354(69443)

Question 1011372: Mrs. Johnson invested $4000; part at 5%, the remainder at 3%. The total annual income from both investments was $152. Find the amount invested at each rate. Needs a legend?
Click here to see answer by lwsshak3(11628)

Question 1011374: Michelle sets aside $7000 for her car loan repayment each year. If this amount represents 8% of her annual salary, how much does Michelle earn per year
Click here to see answer by macston(5194)

Question 1011437: Mona invests $1000 at 7% yearly interest. How much does she have to invest at 6% so that the total yearly interest from the two investments exceeds $166?
Click here to see answer by addingup(3677)

Question 1011473: If u only have $30 and the thing u want is $650 how mutch more money do u need to get to get to $650
Click here to see answer by Cromlix(4381)

Question 1011421: 4. A client has asked for your advice on setting up two university education trust funds for his two children ages 4 and 6 respectively. He feels that an accumulated trust of $10,000 for each child on their 18th birthdays will be sufficient to provide a good education.
a) What amount must be placed in each trust account annually in advance to produce the desired trust, assuming that the deposits bear interest at 7% compounded annually?

Click here to see answer by Boreal(15235)

Question 1011500: Write an equation to find the amount of simple interest, A, earned on a $600 investment after 1 1/2 years if the interest rate is 2%.
Click here to see answer by rfer(16322)

Question 1011427: Bob has more money saved than Susan. If they both triple the amount of their savings, which property of real numbers demonstrates that Bob will still have more money than Susan?
Click here to see answer by jim_thompson5910(35256)

Question 1011551: if you deposit 1000 into a account that earn 5% coumpound interest coumpound daily how much interest will you earn after 10 years

Click here to see answer by josgarithmetic(39614)

Question 1008550: In the year 2000, Anna bought a new car for $26,000. In 2005, she was told that the value of her car was $15,000 due to depreciation. She is told that the value of her car depreciates linearly.
a) Find a function V(t) which gives the value of the car t years after the year 2000
b) In 2008, Anna is told that she will be given $7,000 for her car if she decides to trade it in for a new car. Use the function from part (a) above to determine the value of her car in 2008.
c) Is the $7,000 value fair based on what she was told about the linear depreciation?

Click here to see answer by Theo(13342)

Question 1011686: Mario decided to invest his $620 tax refund rather than spending it. He found a bank that would pay him 4% interest, compounded quarterly. Answer the following questions, assuming that Mario deposits his entire refund and does not deposit or withdraw any other amounts.
a) Write an equation that models the growth of the investment.
b) How many years will it take for the initial investment to double.
Click here to see answer by addingup(3677)

Question 1011674: A total of $58,00 is to be invested, some in bonds and some in certificated of deposit (CD's). If the amount invested in bonds to exceed that in CD's by $1,000, how much will be invested in each type?
Click here to see answer by josmiceli(19441)

Question 1011665: if you make $48,000 per year what is your annual contribution to FIC if they need 7.5%
Click here to see answer by addingup(3677)

Question 1011826: Allen and Joy spent the same amount of money which was less than Php 150.00 for the toys they bought. Allen bought toys worth Php 15.00 each while Joy bought toys costing Php 20.00 each. What could be the largest amount that each spent for the toys?
Click here to see answer by Theo(13342)

Question 1011890: a person invests rs 1000 at 10% compound interest of two years.then he invests the maturity amount for 1 year at10% compound interest for compounded half-yearly. what is the total amount he receives at the end of three years
Click here to see answer by addingup(3677)

Question 1011886: find the principal which
amount at simple interest to #600 in 2 years at
5% per annum.
Click here to see answer by stanbon(75887)

Question 1011661: A certain stock begins the week trading at 87 12 per share. If the average gain for the next four days is 1/2, by how much should the price of the stock increase during Friday so that the total gain for the stock during the entire five days is 5 percent?

Click here to see answer by Boreal(15235)

Question 1011917: This month, Malcolm has $100 saved, and his goal is to have a total of $310 saved 12 months from now. After adding to his savings next month, each month he will add $1 more than what he added the previous month. For the next 12 months, Malcolm will not remove any money from what he has already saved. What is the minimum amount of money Malcolm must add to his savings next month so that he reaches his goal?
I've tried many times but have not come up with anything, if you could help that would be great.
Click here to see answer by solver91311(24713)

Question 1011957: Ace taxi service charges $2.25 for the first mile plus $0.15 for each additional mile. Best taxi service charges $5.00 for the first two miles plus $0.05 for each additional mile. how many miles will a person travel in order to spend an equal amount of money using either service?
Click here to see answer by stanbon(75887)

Question 1011956: the salaries of three workers are to be as follows: Frank is to earn three times as much as Sue while Sue earns $2 less than Tony. If they earn a combined $27, what is the salary of each person?
Click here to see answer by stanbon(75887)

Question 1011958: I work at Best Buy. They will give me 3% commission on my sales. If I sell a $250 TV, how much money will I make on the sale?
Click here to see answer by stanbon(75887)

Question 1011962: the uptown parking garage charges $6.25 for the first hour and $0.60 for each additional hour. the downtown parking garage charges $4.75 for the first hour and $0.90 for each additional hour. for how many hours will the two garages charge an equal amount of money?
Click here to see answer by macston(5194)

Question 1012041: Can someone please help me with this problem? I can't seem to solve it myself. I understand the basics of interest but I just got lost in worded problems. Here it is:
Stephanie has a $15,000 worth of savings for the last 3 years. She wants to invest it at 13% per year and 6% on the rest. How much should she invest at each rate if she wants the total income to be $40,000?

Click here to see answer by stanbon(75887)

Question 1012076: A financial planner invested a certain sum at 9%, twice that amount at 10%, and three times that amount at 11%.find the amount invested at each rate if her total yearly income from the three investments was P27900.
Click here to see answer by ankor@dixie-net.com(22740)

Question 1012181: Ashley's telephone service costs $24 per month plus $0.20 for each local call. long distance calls are extra. last month, her bill was $45.93, and it included $16.33 in long distance charges. how many locals calls did she make?
Click here to see answer by macston(5194)

Question 1012184: a wallet contains only $5 bills and $10 bills. The number of $10 bills is four more than the number of $5 bills. the value of the money is $160. how many of each type of bill are in the wallet?
Click here to see answer by macston(5194)

Question 1012186: a wallet contains 20 bills consisting of only ten and five dollar bills. the amount of money in the wallet is $165. how many of each bill is in the wallet?
can you please add the legend?
Click here to see answer by macston(5194)

Question 1012185: a number of adults on a field trip is 5 less than half the number of students. the total number of people on the trip is at most 110. what is the maximum number of adults and students on the trips?
Click here to see answer by josmiceli(19441)

Question 1012236: how much i need to pay a month to pay off a house off in 6 years that cost 33000 with a 13% interest
Click here to see answer by Theo(13342)

Question 1012316: A boy has p dollars. If he saved that amount each week for 4 weeks, how much money did he have.
Click here to see answer by jim_thompson5910(35256)

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