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

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Question 1049072: Water ice costs twice as much as a soda. You buy one of each and the total cost is $3.75. How much was each item?

Click here to see answer by addingup(3677)

Question 1049064: The lengths of the sides of a triangle are consecutive even integers. A rectangle whose dimensions are the same as the longer of the two sides of the triangle has a perimeter that is 1.5 times that of the triangle. What are the dimensions of the rectangle?
Click here to see answer by MathTherapy(10549)

Question 1049110: The annual interest on an $20,000 investment exceeds the interest earned on a $16,000 investment by $380. The $20,000 is invested at a 0.3% higher rate of interest than the $16,000. What is the interest rate of each investment?
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Question 1049131: The selling price for a classic painting is $20,000, which is $1500 less than two times its original. What was the original price of the painting?
Click here to see answer by solver91311(24713)

Question 1049140: Your father has $100,000 to invest and decides to make a yearly income of $6000 from the investment plan. He invests $60,000 at 5% per annum interest rate. At what rate should your father invest the remaining amount to meet the objective of his investment plan?
Click here to see answer by addingup(3677)

Question 1049280: 10.As a summer sale scheme, a shirt has been discounted 60% and now selling at Nu. 120. What was its original cost?
Click here to see answer by jorel555(1290)

Question 1049411: Please help, I'm stuck on this question and would appreciate any assistance. Thanks.
Five years ago, Diane secured a bank loan of $280,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 yr, and the interest rate was 12%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-yr home mortgage has now dropped to 10%/year compounded monthly, Diane is thinking of refinancing her property. How much less would Diane's monthly mortgage payment be if she refinances? Please round the answer to the nearest cent.

So far, I have used the amortization formula and for both the 12% and 10% compounded monthly and found the difference of both but it seems like my answers are still quite some ways off of the choices given:
a) $496.75
b) $458.46
c) $479.28
d) $474.35
e) $480.33
Also, do I have to recalculate my number of payments to 25 years - 12X25 instead?
Click here to see answer by MathTherapy(10549)

Question 1049466: A prudent investor wants to invest $14000, some in stocks earning 12% annually and the rest in bonds earning 4% annually. How much should be invested in each type of investment to get a return of $1360 annually?
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Question 1049520: How much must be placed in a five months term deposit earning 4.4 simple interest in order to earn $480 interest?
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Question 1049541: The annual interest on a $16,000 investment exceeds the interest earned on a $6000 investment by $830. The $16,000 is invested at a 0.5% higher rate of interest than the $6000. What is the interest rate of each investment?
Click here to see answer by jorel555(1290)

Question 1049535: Olivia designs and sells necklaces. The materials for each necklace cost $4. She sells an average of 40 necklaces a week for $8. She would like to raise the price, but for each $0.50 increase she would lose four sales each week.
a) write an expression to represent the price of each necklace.
b) write an expression to represent the number of necklaces sold per week
c) use your answers in a) and b) to write an expression that represents Olivia's revenue from the sales of her necklaces.
d) Write an expression to represent the cost of materials for the necklaces
e) Use your answers from c) and d) to write an equation for Olivia's profit
Click here to see answer by stanbon(75887)

Question 1049566: malela sells engraved necklaces over the internet. She purchases 50 necklaces for 400 dollars and it costs her an additional 3 dollars for each personalized engraved necklaces. if she charges 20 dollars each, how many necklaces will she need to reach a profit of 225 dollars?
Click here to see answer by josmiceli(19441)

Question 1049575: The annual interest on an $18000 investment exceeds the interest earned on a $9000 investment by $648. The $18000 is invested at a 0.6% higher rate of interest than the $9000. What is the interest rate of each investment
Click here to see answer by ankor@dixie-net.com(22740)

Question 1049579: Phyllis invested $9,500, a portion earning a simple interest rate of
1 1/2% per year and the rest earning a rate of 1% per year. After one year the total interest earned on these investments was $130.00. How much money did she invest at each rate?
Click here to see answer by advanced_Learner(501)

Question 1049615:
Click here to see answer by stanbon(75887)

Question 1049593: The simple interest on a certain sum of money for 3 years at 12%p.a is 6750. What will the compound interest on that sum at the same rate for the same period ?

Click here to see answer by satyareddy22(84)

Question 1049619: The simple interest on a certain sum of money for 3 years at 12% p.a is Rs 6750. What will be the compound interest on that sum at the same rate for the same period ?

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Question 1049646: The property taxes on a business office were $2,268. What was the tax rate if the business office was valued at $115,000?
Click here to see answer by advanced_Learner(501)

Question 1049577: Two investments totaling
$56,000 produce an annual income of $1400. One investment yields
4% per year, while the other yields
2% per year. How much is invested at each rate?

Click here to see answer by ankor@dixie-net.com(22740)

Question 1049630: Your grandmother is gifting you $215 a month for four years while you attend college to earn your bachelor's degree. At a 8.5 percent discount rate, what are these payments worth to you on the day you enter college?
Click here to see answer by advanced_Learner(501)

Question 1049657: The annual interest on an $8000 investment exceeds the interest earned on a $2000 investment by $392. The $8000 is invested at a 0.4% higher rate of interest than the $2000. What is the interest rate of each investment?
Click here to see answer by advanced_Learner(501)

Question 1049587: The Marked price of an article is 50% above Cost price. When Marked price is increased by 20% & Selling price is increased by 20%, the profit doubles. If original Marked price is 300, then what is the original Selling price ?
Click here to see answer by ankor@dixie-net.com(22740)

Question 1049581: The simple interest on a certain sum of money for 3 years at 12% p.a is $6750. What will the be the compound interest on that sum at the same rate for the same period ?
Click here to see answer by jorel555(1290)

Question 1049789: how many bags of sweet can you buy for $9, if bags of sweets is $1.50 per bag and buy 3 get 1 free
Click here to see answer by ewatrrr(24785)

Question 1049789: how many bags of sweet can you buy for $9, if bags of sweets is $1.50 per bag and buy 3 get 1 free
Click here to see answer by rfer(16322)

Question 1049789: how many bags of sweet can you buy for $9, if bags of sweets is $1.50 per bag and buy 3 get 1 free
Click here to see answer by advanced_Learner(501)

Question 1049839: Shanika has invested in three different stocks. Stock A is currently worth $4.50 per share. Stock B is worth $7.00 per share, while stock C is worth $10.00 per share. Shanika purchased half as many shares of stock B as stock A and half as many shares of stock C as stock B. If her total investments are currently worth $546, how many shares of each stock does she own?
Click here to see answer by addingup(3677)

Question 1049951: If you wish to calculate the interest on an investment with a rate of 3.58%, what number will you plug into your equation?

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Question 1049964: An investment of $6,599.20 earns 4.2% interest compounded monthly over 7 years. Approximately how much interest is earned on the investment?
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Question 1049989: Michelle has just been given stock worth $110 that is expected to increase in value by 7% per year. This means that the amount her stock is worth (A) can be calculated by
A
=
110
⋅
1.07
t
A=110⋅1.07t, where t is the number of years since the money was put in.
How many years will it take for the value of her stock be $664? Round your answer to two decimal places.
Click here to see answer by advanced_Learner(501)

Question 1050070: what is the amount after the investment of $300 invested at 12% compounded monthly after a period of 1 1/2 years?
Click here to see answer by ewatrrr(24785)

Question 1050173: A bank loaned out $14,000, part of it at the rate of 9% per year and the rest at 17% per year. If the interest received in one year is $2000, how much was loaned at 9%?
Click here to see answer by stanbon(75887)

Question 1050291: During the recent games event, football jersey has been marked down the price by $2000 to attract the sale. An additional discount of 10% was provided on the new price. If the customer paid $45,000, what was the original price of the football jersey?
a. $48,000
b. $52,000
c. $62,000
d. $72,000
Click here to see answer by rfer(16322)

Question 1050370: Joseph invests $5100 in two different accounts. The first account paid 9 %, the second account paid 3 % in interest. At the end of the first year he had earned $243 in interest. How much was in each account?
Click here to see answer by advanced_Learner(501)

Question 1050379: Tony invests $4900 in two different accounts. The first account paid 7 %, the second account paid 14 % in interest. At the end of the first year he had earned $553 in interest. How much was in each account?
PLEASE HELP
$
at 7 %
$
at 14 %
Click here to see answer by advanced_Learner(501)

Question 1050371: A coffee distributor needs to mix a(n) Rift Valley coffee blend that normally sells for $8.60 per pound with a Kona coffee blend that normally sells for $13.20 per pound to create 10 pounds of a coffee that can sell for $12.74 per pound. How many pounds of each kind of coffee should they mix?
Click here to see answer by addingup(3677)

Question 1050330: Suppose that P dollars in principal is invested in an account that earns compound interest annually and grows to A dollars in t years. The annual interest rate r is given by r = (A/P)^(1/t) - 1.
A. Determine the annual interest rate if $2000 grows to $2375.37 after 5 yr.
B. If $5000 is invested at at 5% determine the amount in the account after 6 yr.
Click here to see answer by Theo(13342)

Question 1050492: Nico is saving money for his college education. He invests some money at 8%, and $1800 less than that amount at 6 %. The investments produced a total of $270 interest in 1 yr. How much did he invest at each rate?

Click here to see answer by Boreal(15235)

Question 1050503: Mitch opened a savings account and deposited $100.00. The account earns 2% interest, compounded continuously. If he wants to use the money to buy a new bicycle in 3 years, how much will he be able to spend on the bike?

Click here to see answer by Boreal(15235)

Question 1050292: Ram and Krish were roadside coffee sellers. In the first week, Ram sold 30% more plates of coffee than Krish did. The following week, Ram sold 20 plates of coffee, while Krish sold none. Overall, if Ram sold 40% more plates of coffee than Krish, how many plates of coffee did Krish sell in total?
a. 80 plates
b. 100 plates
c. 120 plates
d. 130 plates
Click here to see answer by jorel555(1290)

Question 1050294: Kevin has money in two savings accounts. One rate is 13% and the other is 14%. If he has $650 more in the 14% account and the total interest is $226, how much is invested in each savings account?
Click here to see answer by jorel555(1290)

Question 1050608: Use logarithms to solve the problem.
How long will it take $14,000 to grow to $17,000 if the investment earns interest at the rate of 2%/year compounded monthly? (Round your answer to two decimal places.)
Click here to see answer by addingup(3677)

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