Tutors Answer Your Questions about Money Word Problems (FREE)
Question 1045551: Betsy, a recent retiree, requires $6,000 per year in extra income. She has $50,000 to invest and can invest in B-rated bonds paying 13% per year or in a certificate of deposit (CD) paying 3% per year. How much money should be invested in each to realize exactly $6,000 in interest per year?
Click here to see answer by Theo(13342)   |
Question 1045665: Bill wants to deposit money into a bank account that earns 3.25% simple interest. Use the formula I=prt to find the amount of money that he should deposit so that he earns $3800 after 4.5 years. Round your answer to the nearest whole dollar.
Click here to see answer by josmiceli(19441)  |
Question 1045701: Jim pays $75 per month for a cell phone plan plus $0.30 per minute beyond the first 1000 minutes. Write an equation for the cost (y) based on the number of minutes (x) after the first 1000.
Please help !!!!!! Really struggling!!!
Click here to see answer by solver91311(24713)  |
Question 1045747: A newspaper has current circulation of 30,000 and charges 65c per paper.
For each 10c rise in price past experience indicates circulation will decrease by 2000.
x=number of price increases
price=0.65+0.10x
Find the increase price of the newspaper to obtain an income of $19,350
Click here to see answer by josmiceli(19441) |
Question 1045992: sam wants to invest part of his $24000 lottery winnings in an international stock fund that yields 4% annual interest and a domestic money market fund that earns 6.5% annual interest. find how much is invested in each account to earn $1360 interest at the end of one year. (use the formula, i=prt for simple, where i is the interest earned, p is the principal, r is the yearly interest rate, and t is the time in years.)
Click here to see answer by addingup(3677)  |
Question 1045994: An inheritance of $900000 is to be divided among Ann, Alice, and Tricia in the following manner: Alice is to receive 3/4 of what ann gets, while Tricia get 1/2 of what Ann gets. How much does each receive?
Click here to see answer by rfer(16322) |
Question 1045991: If it costs Microsoft $1,230 to manufacture 8 Kinects per hour for the Xbox 360 and $2,430 to manufacture 16 per hour at a particular plant, obtain the corresponding linear cost function C(x).
C(x) =
What was the cost to manufacture each additional Kinect?
$
Use the cost function to estimate the cost of manufacturing 24 Kinects in an hour.
$
Click here to see answer by josmiceli(19441) |
Question 1045993: A large department store is prepared to buy 3,800 of your tie-dye shower curtains per month for $6 each, but only 3,600 shower curtains per month for $11 each. What is the linear demand function for your tie-dye shower curtains?
q(p) =
Click here to see answer by robertb(5830)  |
Question 1045990: The cost of treating waste by removing PCPs goes up rapidly as the quantity of PCPs removed goes up. Here is a possible model:
C(q) = 2,200 + 90q2,
where q is the reduction in toxicity (in pounds of PCPs removed per day) and C(q) is the daily cost (in dollars) of this reduction.
(a) Find the cost of removing 10 pounds of PCPs per day.
(b) Government subsidies for toxic waste cleanup amount to
S(q) = 500q,
where q is as above and S(q) is the daily dollar subsidy. The net cost function is given by N = C − S. Give a formula for N(q).
N(q) =
(c) Find N(20).
Click here to see answer by josmiceli(19441) |
Question 1046209: The manager of a store selling tea plans to mix a more expensive tea that costs $ 8 per pound with a less expensive tea that costs $ 4 per pound to create a 70-pound blend that will sell for $ 7.20 per pound. How many pounds of each type of tea are required?
Click here to see answer by josgarithmetic(39616) |
Question 1046232: 1. Ellen has $8000 to invest in an RESP (Registered Education Savings Plan) for 7 years. Should she invest her $8000 at 6% compounded semi-annually or should she invest her $8000 at 7.5% with simple interest? Explain your choice. Identify the function, in each case.
2.Adam is saving for a down payment on a house. How much must he invest now, in one lump sum, in order to have $20 000 at the end of 5 years? Assume the annual interest rate 6.25% compounded monthly.
3. Determine the time it takes to double an investment in an account that pays interest of 4% per annum, compounded quarterly.
Click here to see answer by josmiceli(19441) |
Question 1046345: Dividends paid on utilities stocks vary inversely with the prime interest rate. When the prime interest rate was 16%, dividends on a utility stock were $3.42 per share. If the prime interest rate dropped to 11%, what dividends would be paid?
Click here to see answer by josmiceli(19441) |
Question 1046455: Use a system of linear equations with two variables and two equations to solve.
A concert manager counted 500 ticket receipts the day after a concert. The price for a student ticket was $13.50, and the price for and the price for and adult ticket was $16.00. The register confirms that $7,562.50 was taken in. How many student tickets and adult tickets were sold?
Click here to see answer by josgarithmetic(39616) |
Question 1046476: Here's my questions:
At a local discount theater, tickets to the film "The Early Bird Gets the Sleepiest" cost only $2.50 for adults and $1 for children. If 19 people attended the last showing and the theatre sold $40 worth of tickets:
A) How many adults attended the showing?
B) How many children attended the showing?
Click here to see answer by josgarithmetic(39616) |
Question 1046478: A local bank advertises that it pays interest on savings accounts at the rate of 3% compounded monthly. Find the effective rate. Round answer to two decimal places.
Choice answers:
a. 3.44%
b. 3.40%
c. 36%
d. 3.04%
Click here to see answer by robertb(5830) |
Question 1046568: Want to donate to a better cause? Consider micro-lending. Micro-lending is a process where you lend directly to entrepreneurs in developing countries. You can lend starting at $32. Kiva.org boasts a 98% repayment rate. The average loan to an entrepreneur is $417.25 and the average loan amount is $233.84. With a total amount loaned of $283,697,180, how many people are lending money? Assume the average number of loans per lender is 6.
Click here to see answer by Alan3354(69443)  |
Question 1046845: Last year, Dan had
$30,000
to invest. He invested some of it in an account that paid
5%
simple interest per year, and he invested the rest in an account that paid
10%
simple interest per year. After one year, he received a total of
$1950
in interest. How much did he invest in each account?
Click here to see answer by ewatrrr(24785)  |
Question 1046869: If a hairdresser chooses location a she will pay $1200 per month in rent and will charge $45 per haircut.if she chooses location b she will pay $1800 per month in rent and will charge $60 per haircut.how many haircuts would she have to give in one month to make the same profit at either location.
Click here to see answer by stanbon(75887) |
Question 1046954: A retired couple has $190,000 to invest to obtain annual income. They want some of it invested in safe Certificates of Deposit yielding 7%. The rest they want to invest in AA bonds yielding 10% per year. How much should they invest in each to realize exactly $17,200 per year?
Selections:
a. $120,000 at 7% and $70,000 at 10%
b. $130,000 at 7% and $60,000 at 10%
c. $130,000 at 10% and $60,000 at 7%
d. $140,000 at 10% and $50,000 at 7%
Click here to see answer by jorel555(1290) |
Question 1046955: Jenny receives $1270 per year from three different investments totaling $20,000. One of the investments pays 6% , the second one pays 8%, and the third one pays 5%. If the money invested at 8% is $1500 less than the amount invested at 5%, how much money has Jenny invested in the investment that pays 6%?
Solutions:
a. $8500
b. $4500
c. $10,000
d. $1500
Click here to see answer by solver91311(24713) |
Question 1047034: $20,000 is invested, part at 4% and remainder at 6%. The total income is $1050 from the 2 investments. Determine amt. at each rate.
My attempt:
Let x = amt. at 4% (4% is .04)
20,000 - x = amt. at 6% (6% is .06)
Not sure from here. Thanks.
Click here to see answer by Boreal(15235)  |
Question 1047034: $20,000 is invested, part at 4% and remainder at 6%. The total income is $1050 from the 2 investments. Determine amt. at each rate.
My attempt:
Let x = amt. at 4% (4% is .04)
20,000 - x = amt. at 6% (6% is .06)
Not sure from here. Thanks.
Click here to see answer by josmiceli(19441) |
Question 1047044: imani spent half of her weekly allowance playing mini-golf. to earn more money her parents let her wash the car for $4. write an equation to represent what her weekly allowance is if she ended with $12.
Click here to see answer by Theo(13342) |
Question 1047105: A certain manufacturer produces items for which the production costs consist of annual fixed costs totaling $130,000 and variable costs averaging $8 per item. If the manufacturer's selling price per item is $1.5, how many items must the manufacturer produces and sell to earn an annual profit of $150,000?
Click here to see answer by addingup(3677) |
Question 1047137: Olive wants to invest dollar-sign Baseline 15 Number , 000 with the goal of earning 10 % interest. She wants to put some of the money in an investment that has been earning 7 % a year and the rest of the money in an investment that typically earns 11 % a year. How much money should be invested at 11 % interest for Olive to obtain her goal of an overall 10 % interest?
Click here to see answer by stanbon(75887) |
Question 1047088: A person to graduate from college takes R $ 8,000 borrowed to buy a car . The financial charges annual interest rates of 10%. Assuming that interest compounded continuously and that the person makes continuous payments at an annual rate constant k , determine the payment rate k required for the loan to be paid in three years . Determine also the total interest paid during the period of 3 years?
Click here to see answer by addingup(3677) |
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