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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 1065331: If the average monthly salary of two builders is �2210 and three times their difference is 540 find their salaries.
Click here to see answer by Theo(13342)

Question 1065205: Suppose you need $4000 in 3 years for a trip to Europe. How much do you have to deposit into an account each month if the annual interest rate is 3.5% compounded monthly in order to meet your goal? Round your answer up to the next dollar. Express your answer with no dollar sign and no decimal point
Click here to see answer by Boreal(15235)

Question 1065497: what would 2 dollars deposted in a bank savings account in 1980 be worth today, 37 years later
Click here to see answer by Edwin McCravy(20056)

Question 1065639: If Francine deposits 1/3 of her salary in the bank and is left with $2200, how much of her salary did she deposit.
Click here to see answer by Fombitz(32388)

Question 1065681: An editorial assistant receives an 8% raise, bringing her salary to $42,066. What was her salary before the raise?

Click here to see answer by jorel1380(3719)

Question 1065747: tony is saving up to go travelling after graduation. How much will he have if he can put $75 at the end of every month, for the full four years he is in school, into his savings account which earns 1.8% interest, compounded monthly?

Click here to see answer by Boreal(15235)

Question 1065768: Hank deposited $750 in the bank for 3 years. He earned $135 in simple interest at the end of the three years. What was the annual interest rate?
Click here to see answer by rfer(16322)

Question 1065758: Ishan and Hazel plan to retire at age 60 with a retirement income of $48,000 a year from their savings. Rather than pay themselves the whole amount at the beginning of each year, they have decided that payment at the beginning of each quarter of $12,000 gives them the right balance of flexibility and maximized interest earnings. They feel they can safely earn an interest rate of 4%, compounded quarterly, on their money and they are budgeting based on the prediction that they will live until they are 90 years old. How much money will they have to have saved by the time they are 60 in order to reach their retirement goal?
Click here to see answer by Theo(13342)

Question 1065786: A salesperson at Company Z makes 35% commission on all the items he or she sells. If last month a salesperson sold d dollars of merchandise, which expression can be used to calculate how much commission the salesperson earned?
Click here to see answer by math_helper(2461)

Question 1065778: 12,350,400(1+(0.12x5))
Click here to see answer by ikleyn(52787)

Question 1065834: Kinisha borrowed $2000 from a credit union at 12% annual interest and borrowed $500 from her aunt at 7% annual interest. What single rate of interest on $2500 results in the same total amount of interest?
Click here to see answer by stanbon(75887)

Question 1065813: Anna also wants to travel after graduation but she isn�t working while in school so she won�t be able to put money aside regularly. However, her grandmother gave her the generous gift of $1000 for her birthday and suggested she invest it in a GIC because it�s low risk. She shopped around and found a 4 year GIC investment that earns 2.2% interest compounded annually. How much will Anna have at the end of her four year investment?
Click here to see answer by Boreal(15235)

Question 1065816: 1.Betty, who has just started her first full-time salary job is determined to have $1 million in her account by the time she retires. She is now 25 and hopes to retire at 65 years of age. Her investments have been earning 5% annual return, which could appropriately be calculated as compounded monthly, and she thinks it�s realistic that can be maintained. How much would Betty have to put aside each month, in order to reach her goal?
2.Aya and Harumi would like to buy a house and their dream house costs $500,000. They have $50,000 saved up for a down payment but would still need to take out a mortgage loan for the remaining $450,000 and they�re not sure whether they could afford the monthly payments. The bank has offered them an interest rate of 3.5%, compounded monthly. How much would they have to be able to afford to pay each month in order to pay off her mortgage in 30 years?
Click here to see answer by addingup(3677)

Question 1065844: Determine how long it will take to accumulate at least $20,000 in a bank account if you
deposit $250 initially, $1200 at the end of each year and the account pays 5% annual
interest.
I need to figure out the formula but I dont know how to get it.
Click here to see answer by Alan3354(69443)

Question 1065894: Please help me solve this problem. A bank loaned out $16000, part of it at the rate of 7% per year and the rest at 17% per year. If the interest received in one year totaled $2000, how much was loaned at 7%? How much of the $16000 did the bank loan out at 7%?

Click here to see answer by math_helper(2461)

Question 1065997: Please help me solve this problem: You invested a total of $10,000 at 4 1/2% and 5% simple interest. During one year, the two accounts earned $480. How much did you invest in each account?
Click here to see answer by Boreal(15235)

Question 1066027: Your job is to track costs and revenue for the daily manufacturing process for your company�s top-selling product, toy trains. Daily production costs $9,200 plus $25 for every case produced. Daily revenue coming in equates to $65 per case sold.
a. Determine the cost (C) and revenue (R) equations for this manufacturing process. Let x represent the number of cases produced daily.

Click here to see answer by ikleyn(52787)

Question 1066067: a) Compute CM per unit and CM ratio.
b) Compute the number of car ABC Motors should sell each year for BEP and BEP in birr, using: i) equation method; ii) contribution margin method; and iii) graphic method.
c) Compute the number of car ABC Motors required to sell to earn operating income of Br. 180,000 during the each year using: i) equation method; and ii) contribution margin method.
d) The manager of ABC Motors Company expects that a Br. 20,000 increase in the yearly advertising budget would increase yearly sales by Br. 300,000. Should the increase in advertising budget be made?

Click here to see answer by ikleyn(52787)

Question 1065763: By the time Stephan graduated school he had an OSAP loan of $21,000. The interest charged on the loan is about 4.5% which is compounded monthly. The 6 month grace period is now over, interest is now being charged and Stephan has decided he had better focus on getting the loan paid off as quickly as possible. He set for himself the goal of paying off the loan in four years. What would Stephan�s monthly loan payments have to be in order to achieve his goal?
Click here to see answer by MathTherapy(10552)

Question 1065886: By the time Stephan graduated school he had an OSAP loan of $21,000. The interest charged on the loan is about 4.5% which is compounded monthly. The 6 month grace period is now over, interest is now being charged and Stephan has decided he had better focus on getting the loan paid off as quickly as possible. He set for himself the goal of paying off the loan in four years. What would Stephan�s monthly loan payments have to be in order to achieve his goal?

Click here to see answer by Theo(13342)

Question 1066204: What are u talking about i want the answer

Click here to see answer by ikleyn(52787)

Question 1066191: a student deposited her HS graduation money in the amount of $6200 in two different accounts. The annual interest rate on one account was 5.5% and the interest rate on the second was 5.8%. At the end of the first year the interest on the first account was $92.40 more than the interest earned on the second. Determine the amount in each account.
Click here to see answer by Boreal(15235)

Question 1066146: The following is a real estate commission on the selling price of a house.
9% for the first $100,000 and 6% for the amount which exceeds $100,000.
A realtor receives $13,500 for selling a house. What was the selling price?
Click here to see answer by Theo(13342)

Question 1066264: How much would it cost to finance $400.00 over 20 years @ 3.25% interest?
Thanks!
Click here to see answer by swincher4391(1107)

Question 1066297: Alejandro has determined he needs to have $500,000 for retirement in 35 years. His account earns 6% interest. How much total interest will Alejandro earn?
Click here to see answer by josmiceli(19441)

Question 1066314: A store offers customers two ways to pay for a new TV.
Option 1
: Pay $1,500
today.
Option 2
: Pay nothing today, and take out a simple interest loan to pay a total of $1,650
one year from now.
What is the simple interest rate on the loan in option 2
?
Click here to see answer by Alan3354(69443)

Question 1066368: Sam is investing his money. He thinks that he should make
$15
$⁢15
for every
$100
$⁢100
he invests. How much does he expect to make on an investment of
$3200
Click here to see answer by josgarithmetic(39617)

Question 1066468: 20,000 deposit earning 3.5% compound ed monthly after 10 years

Click here to see answer by Alan3354(69443)

Question 1066579: The amount of annual interest earned by $7,000 invested at a certain rate is $210 less than $11,000 would earn at a 1% lower rate. At what rate is the $7,000 invested?
Click here to see answer by stanbon(75887)

Question 1066589: Alejandro inherits $25,000 to invest. He decides to invest part of in an education account for his daughter and the rest in a retirement account. If he invests $2,000 more than three times as much in the retirement account, how much did he invest in each account?

Click here to see answer by stanbon(75887)

Question 1066590: Chloe�s Manufacturing Company borrows $295,000 for 5 years at a simple interest rate of 4.8%. Find the interest paid on the loan and the total amount paid.
Click here to see answer by Boreal(15235)

Question 1066708: The population of nogales is increasing 2% per year . If we currently have 1800 students how many students will we have in 10years

Click here to see answer by ikleyn(52787)

Question 1066726: If she invests the $690 at 4 percent interest per year, in one year it will be worth
Click here to see answer by rfer(16322)

Question 1066722: A total of $66,000 is to be invested, some in bonds and some in certificates of deposit (CDs). If the amount invested in bonds is to exceed that in CDs by
$1,000, how much will be invested in each type of investment
Click here to see answer by rfer(16322)

Question 1066343: ind Brian's interest rate on a loan if he paid interest of $250 on a principal of $2,000 for a time period of 2 years

Click here to see answer by rfer(16322)

Question 1066778: An investment of $67,000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned 8% interest, the second 6%, and the third 9%. Total interest from the investments was $5190.The interest from the first investment was 3 times the interest from the second. Find the amounts of the three parts of the investment.
Click here to see answer by josgarithmetic(39617)

Question 1066806: jim invests a total of 50000 in 2 accounts, one earning 2.5% simple interest, the other earning 5 %. if after 2 years the account earning 5% has earned 500 more, how much was invested in the 5% account?

Click here to see answer by josmiceli(19441)

Question 1066906: A group of senior citizens charter a bus for a one-day excursion trip for Php150 per person. The charter company agrees to reduce the price of each ticket by 10 pesos for each additional passenger in excess of 20 who goes on the trip up to a maximum of 44 passengers ( the capacity of the bus). If the final bill from the charter company was Php 4,824, how much seniors went on the trip and how much did each pay?
Click here to see answer by josgarithmetic(39617)

Question 1066933: An investment earns 4.6% per annum. If umar invests �72000 for 3 years, how much will he have at the end of 3 years?
Click here to see answer by Boreal(15235)

Question 1067092: Adam borrowed $17 from his brother on Monday, and then an additional $5 on Tuesday. How much money will Adam have to pay his brother in order to be free of debt?

Click here to see answer by Alan3354(69443)

Question 1067200: A sales clerk receives a monthly salary of $550
$
⁢
550
plus a commission of 9%
9
%
on all sales over $2600
$
⁢
2600
. What did the clerk earn the month that she sold $8800
$
⁢
8800
in merchandise? Follow the problem-solving process and round your answer to the nearest cent, if necessary.
Click here to see answer by chen.aavaz(62)

Question 1067226: A company that manufactures memory chips for digital cameras uses the formula c = 129 ^3√n^2 + 1295 to determine the cost c, in dollars, of producing n chips. How much will it cost to produce 226 chips?

Click here to see answer by stanbon(75887)

Question 1067179: Miguel rented a truck for one day. There was a base fee of
$11.75
, and there was an additional charge of
7
cents for each mile driven. The total cost,
C
(in dollars), for driving
x
miles is given by the following function.
=Cx+0.07x11.75
What is the total rental cost if Miguel drove
40
miles?
Click here to see answer by Boreal(15235)

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