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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 1062891: Determine the monthly amount to be added to a savings account (starting with a zero balance) yielding 5.4% interest for 8 years if the final value of the account is to be $20,000
Click here to see answer by Boreal(15235)

Question 1063015: Problem :
Congratulations you've just won the lottery
To collect your winnings you must choose between two payment options
Option 1: you receive $1,000,000 everyday for 30 days
Option 2: you receive $0.01 but then double your money each day for 30 days
How much money will option 2 give you ?

Click here to see answer by ikleyn(52748)

Question 1063024: If 4 apples and 6 bananas cost Rs.1.56/=,9applees and 7 bananas cost Rs.2.60/= what is the cost of one apple and a banana?

Click here to see answer by ikleyn(52748)

Question 1063016: Problem :
Congratulations you've just won the lottery
To collect your winnings you must choose between two payment options
Option 1: you receive $1,000,000 everyday for 30 days
Option 2: you receive $0.01 but then double your money each day for 30 days
How much money will option 2 give you ?

Click here to see answer by Alan3354(69443)

Question 1063126: Susan bought a car at age 16 for 8500 dolllars. If the value of the car decreases by 6% per year, how much will it be worth when she is 21 years old?
Click here to see answer by josmiceli(19441)

Question 1063142: A store loses one tenth of its merchandise due to fire. An insurance company reimburses the store for two fifths of lost merchandise.The insurance company paid the store BDT 8250. What was the value of the store's total inventory before the fire?
Click here to see answer by josmiceli(19441)

Question 1063166: Jerry�s loan had a principal of $22,000. He made quarterly payments of $640 for nine years until the loan was paid in full. How much did Jerry pay in interest?
Click here to see answer by Fombitz(32388)

Question 1063180: please translate this into algebraic expression:
The total interest in one year earned by Jim if he invested part of $45,000.00 at 4% and the remainder at 3.5%
Click here to see answer by Boreal(15235)

Question 1063256: Suppose you have $1600 in your savings account at the end of a certain period of time. You invested $1200 at a 7.61% simple annual interest rate. How long, in years, your money invested?

Click here to see answer by addingup(3677)

Question 1063255: How much should you invest now at 4 1/2% simple annual interest in order to earn $180 interest in 8 months?

Click here to see answer by stanbon(75887)

Question 1063253: Suppose you pay back $510 on a $500 loan. You had the loan for 45 days. What was your simple annual interest rate?
Click here to see answer by ankor@dixie-net.com(22740)

Question 1063253: Suppose you pay back $510 on a $500 loan. You had the loan for 45 days. What was your simple annual interest rate?
Click here to see answer by MathTherapy(10549)

Question 1063522: Leah opened a savings account and deposited $500 as principal. The account earns 7% interest, compounded annually. What is the balance after 9 years? Round to the nearest cent.
Click here to see answer by josgarithmetic(39613)

Question 1063541: bob and larry have a total $159. larry $19 less than bob and larry each have
Click here to see answer by Alan3354(69443)

Question 1063549: Jeffery borrows 8'000 for five years at 5.5% compounded monthly what is his monthly payment ?
Click here to see answer by jorel1380(3719)

Question 1063549: Jeffery borrows 8'000 for five years at 5.5% compounded monthly what is his monthly payment ?
Click here to see answer by MathTherapy(10549)

Question 1063846: Suppose you invested $2500 in the stock market 2 years ago. During the first year, the value of the stock increased by 12%. How much money did your stock earn during the first year? What is the value of your total stock market investment at the end of the first year?
Click here to see answer by jorel555(1290)

Question 1064044: I need to know how do do a formula.... if a salesman gets 15% of every thousand dollars he sales after $27000. How would the formula go?
Click here to see answer by ikleyn(52748)

Question 1064049: Five times a number decreased by seven is less than -52
Click here to see answer by ikleyn(52748)

Question 1064051: I need to know how To create a formula.... if a salesman gets 15% of every thousand dollars he sales after $27000. How would I write the formula in excel?

So for exanlole. I want to plug unit a formula if sale is 30,000. They would get 15% on 3000.

So 15% per 1000 over 27000. What is the formaula I wold need to create?
Click here to see answer by josgarithmetic(39613)

Question 1064056: what is the rate of interest needed if the amount of the investments is $5400 after $1450 is invested for 28 months?
Click here to see answer by addingup(3677)

Question 1064159: Terrance has a summer job mowing lawns. His earnings for the first 9 weeks are given below.
$225, $280, $300, $200, $190, $250, $220, $205, $195
How much does Terrance need to earn in week 10 to have earned an average of $250 per week?
Click here to see answer by ikleyn(52748)

Question 1064217: 1.What is the total GDP for South Africa in rands assuming that there are people in South Africa that the GDP CAPITA is $11900 and the rand dollar exchange rate is R6.50 to the dollar.
2. If you invest R10 000 at 10% interest now ,how much will it be worth after 20 years?
Thank you in advance.
Click here to see answer by Boreal(15235)

Question 1064271: You take a simple interest loan for $1200. at 10% interest for 14 months. How much is the monthly payment? I am stuck on figuring out the interest for 14 months.

Click here to see answer by josgarithmetic(39613)

Question 1064404: Maureen had $2000 to deposit. How much should she deposit at 12% interest, and how much should she invest at 10% if she wishes to earn $230 in interest this year?
Click here to see answer by jorel1380(3719)

Question 1064418: Of the following choices of dog food, which bag is the cheapest in cost per pound of protein?
Bag Price Weight Percent Protein
A $5.00 5.0 lbs 15%
B $6.75 5.0 lbs 19%
C $7.50 5.0 lbs 23%
D $8.25 5.0 lbs 25%

Click here to see answer by Theo(13342)

Question 1064260: If a word problem is giving you a budgeted amount, expenses, and revenues, and asks what was left over. Do you calculate the budgeted amount before or after you subtract the expenses from the revenues?
Click here to see answer by Theo(13342)

Question 1063871: You deposit $2200 into three separate bank accounts that each pay 3% annual interest. How much interest does each account earn after 6 years?

Click here to see answer by Fombitz(32388)

Question 1064770: Sixty percent of the profit was used to pay the investors. If $15,000 was not used to pay the investors, what was the total amount of profit?
I have tried to figure out what to do but am incredibly confused. Please help.
Click here to see answer by ikleyn(52748)

Question 1064805: Bob borrows $2000 at 5% simple interest. At the end of 6 months, he pays off the loan and interest. How much does he pay to settle the loan? Round your answer to the nearest cent, if necessary.
Click here to see answer by addingup(3677)

Question 1064799:
Larry Mitchell invested part of his $ 35,000

advance at 7%

annual simple interest and the rest at 2%

annual simple interest. If his total yearly interest from both accounts was $900, find the amount invested at each rate.
Click here to see answer by addingup(3677)

Question 1064815: A grain barge travels on a river from point A to point B loading and unloading grain. The barge travels at a rate of 8 mph relative to the water. The river flows downstream at a rate of 1 mph. If the trip upstream takes 2 hours longer than the trip downstream, how far is it from point A to point B?
Click here to see answer by ikleyn(52748)

Question 1064816: Tommy can paint a fence in 9 hours. If his friend Huck helps, they can paint the fence in 1 hour. How fast could Huck paint the fence by himself?
Click here to see answer by josmiceli(19441)

Question 1064814: A freight train leaves the train station 4 hours before a passenger train. The two trains are traveling in the same direction on parallel tracks. If the rate of the passenger train is 40 mph faster than the freight train, how fast is each train traveling if the passenger train passes the freight train in 5 hours?
Click here to see answer by josmiceli(19441)

Question 1064841: My shoes were only $49.50 but i also had to pay the 4% tax. What was mt total.

Click here to see answer by Alan3354(69443)

Question 1064888: after 5 years mikes account earned $9000 in interest if the interest rate in decimal form is .15 how much did mike initially invest
Click here to see answer by rfer(16322)

Question 1064878: lydia sold a car for $25,000 she makes 3.5% commission. how much commission did lydia make?
Click here to see answer by rfer(16322)

Question 1064934: A person can buy 3 papayas and 15 guavas for the coast 5 apple. If the cost of a papaya is decreased by RS.5/=, difference between the cost of a papaya and a apple RS.5/=. What is the cost of 10 guavas?
Click here to see answer by Fombitz(32388)

Question 1064813: Mark works strictly on commission of his gross sales from selling two different products for his company. Last month, his gross sales were $88,000. If he earns 4% commission on product A and 3% commission on product B, what were his gross sales for each product if he earned $3260 in total commission?
Click here to see answer by jorel1380(3719)

Question 1065013: An inheritance of 600000 is to be divided among Scott, Alice and Tricia in the following manner: Alice is to receive 2/3 of what Scott gets. while Tricia gets 1/3 of what Scott gets. How much does each receive?
Click here to see answer by KMST(5328)

Question 1065191: Suppose a college student pays $1200 for tuition and fees. However, she also has to pay $300 for her textbooks (ouch!). What percent of her total education costs goes to books?
Answer: Her books represent __________________ % of her total costs.
Write your answer to the nearest tenth of a percent.
Click here to see answer by JulietG(1812)

Question 1065250: A company deposits $10,000 in a bank account that earns 5% interest each year.
Write an inequality that could be used to determine the number of years, n, that it will take for the account to have at least $15,000.

Click here to see answer by addingup(3677)

Question 1065271: If two-thirds of Sam�s weekly income is $480, what is one-fourth of his weekly income?
Click here to see answer by Fombitz(32388)

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