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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 1085929: A man's salary started with $7,500 for the first year and increase by $750 each year up to a maximum of $15,000 per annum at which it remains constant. Find his total earning in his thirty years of service.
Click here to see answer by MathTherapy(10551)

Question 1085801: John invested $20,000 in a 14 percent annual interest yielding project. Deduce the compound amount of the project after 6 years if interest is compounded (a) quarterly, (b) weekly (c) thirdly (d) monthly (e) daily
Click here to see answer by Boreal(15235)

Question 1086062: The relation between the cost of a certain gem and its weight is linear. In looking at two gems, we find that one of the gems weighs 0.4 carat and costs $3543, while the other gem weighs 0.6 carat and costs $4375.
(a) Find a linear function that relates the price of a gem, C(x), to its weight, x, treating weight as the independent variable.
(b) Predict the price of a diamond that weighs 0.73 carat.
(c) Interpret the slope, and choose the correct answer.
A. If weight increases 1 carat, price increases $1879.
B. If price increases $1, weight increases 1879 carat.
C. If price increases $1, weight increases 4160 carat.
D. If weight increases 1 carat, price increases $4160.
(d) If a diamond costs $5706.20, what do you think it should weigh?

Click here to see answer by Boreal(15235)

Question 1086156: he table of values below represents a linear function and shows the amount of money in Juanita�s savings account since she began her part-time job. What is her monthly rate of savings?

Click here to see answer by ikleyn(52775)

Question 1086121: ). It is expected the children will live at home when they go to school and tuition, books, and transportation at this time is $7,700 per year. Sally will start school exactly 11 years from now and Nico will start in exactly 9 years from now. Education inflation is expected to be 4% per year and their RESP investment is expected to generate 5.5% per year. Tony and Maria will make monthly contributions. The children will attend 4 years of university.
Click here to see answer by ikleyn(52775)

Question 1086159: Miguel borrowed $10,000 at 6% ordinary interest for 120 days. After 40 days, he made a partial payment of $2,500. What is the final amount due on the loan?

Click here to see answer by rapture(86)

Question 1086160: James borrowed $15,500 at 10% ordinary interest for 120 days. After 40 days, he made a partial payment of $3,000. After another 30 days, James made a second partial payment of $1,000. What is the final amount due on the loan?

Click here to see answer by rapture(86)

Question 1086170: Sally earns $1,000 per month plus a commission of 2% of sales. Jane earns $200
per month plus 6% of her sales. At what monthly sales figure will both Sally
and Jane earn the same amount of pay?
Click here to see answer by addingup(3677)

Question 1086375: Tyler has $60,000 to invest for 3 years. Estimate which investment option will earn more interest. calculate to verify your estimate.
A. 5.1% simple interest, calculated monthly
B. 4.9% compound interest, calculated annually
Click here to see answer by stanbon(75887)

Question 1086380: I want to buy a car for $20650 could you tell me how much it is after 2.3% & 3.9 % thank you
Click here to see answer by Alan3354(69443)

Question 1086381: Hi i am 32 yes old, I'm out looking at car to buy. I was wonder if you could do some fast math for me? After 3.3% is added to $20650 Wht is the grand total. Thank you
Click here to see answer by stanbon(75887)

Question 1086444: I plan on retiring in 35 years. I hope to have $750,000 in my savings account when I retire. If I found a savings account that earns 6.4% interest compound monthly how much should I put in my savings account now to reach my goal?
Click here to see answer by Boreal(15235)

Question 1086544: 1.) What rate (%) compounded quarterly is equivalent to 6% compounded semi-annually?
a. 5.93
b. 5.99
c. 5.96
d. 5.9
2.) Which of the following has the least effective annual interest rate?
a. 12% compounded quarterly
b. 11.5 compounded monthly
c. 11.7% compounded semi-annually
d. 12.2% compounded annually
3.) A bank offers 1.2% effective monthly interest. What is the effective annual rate with monthly
compounding?
a. 15.4%
b. 8.9%
c. 14.4%
d. 7.9%
Click here to see answer by jim_thompson5910(35256)

Question 1086548: An instructor plans to retire in exactly one year and want an account that will pay him
25,000.00 a year for the next 15 years. Assuming a 6% annual effective interest rate, what is the amount he would need to deposit now? (The fund will be depleted after 15 years.)
Click here to see answer by jim_thompson5910(35256)

Question 1086546: How much money must you invest today in order to withdraw 1000 per year if interest rate is 12%?
Click here to see answer by rapture(86)

Question 1086545: A company invest 10,000 today to be repaid in five years in one lump sum at 12%
compounded annually. If the rate of inflation is 3% compounded annually, how much profit in present day is realized over five years?
Click here to see answer by jorel1380(3719)

Question 1086590: a man has two sums of money at interest, one at 3% and the other is 3 1/2%. his annual income from the two investments is php999. if he could get 3 1/2% on both of his money, he will earn php1092. how much has he invented at each rate
Click here to see answer by ankor@dixie-net.com(22740)

Question 1086894: Mike left 1/2 of his property to his wife, 1/3 of the remainder to his eldest son, and the rest to be equally divided among 5 younger children, each of them got $80,000. How much did his wife get?
Click here to see answer by Fombitz(32388)

Question 1086900: Last year, Diane opened an investment account with $5800.At the end of the year, the amount in the account had decreased by 6.5%.How much is this decrease in dollars? How much money was in her account at the end of last year?
Click here to see answer by Boreal(15235)

Question 1087050: How many gallons of a 90% antifreeze solution must be mixed with 70 gallons of 10% antifreeze to get a mixture that is 80% antifreeze? Use the six-step method.
Click here to see answer by josgarithmetic(39616)

Question 1087051: If $380 is invested for one year at 13.9% simple interest, how much interest is earned?
Click here to see answer by jorel1380(3719)

Question 1087057: How many liters of a 90% acid solution must be mixed with a 30% acid solution to get 540 L of a 80% acid solution?
Click here to see answer by jorel1380(3719)

Question 1087147: mandy sold a bar of chocolate for 25 dollars and made a profit of 10 dollars how much was the cost price?
Click here to see answer by jorel1380(3719)

Question 1087390: You put $1320 into an investment yielding 6.75% annual interest; you left the money in for two years. How much interest do you get at the end of those two years?
Click here to see answer by jorel1380(3719)

Question 1087492: Suppose that you and 3 friends bought equal shares of an investment for a total of $24,000 and then sold it later for only $21,000. How much did each person lose?

Click here to see answer by rfer(16322)

Question 1087438: Neha borrowed rupees 550 from her friend at 8% per annum. She returned the amount after 6 months. How much did she pay
Click here to see answer by rfer(16322)

Question 1087609: Assuming one property will be acquired per month. The first month each property is acquired it will house 2 tenants, and the tenants in each property will increase by 2 per month with a maximum of 20 tenants per property. How many tenants will you have after 36 months? What is the formula?
Click here to see answer by Theo(13342)

Question 1087571: In a recent year, the average annual earnings for a worker with a college degree were $37,000. This represents an 85% increase over the average annual earnings for a high school graduate that year. Find the average annual earnings for a high school graduate that year.
Click here to see answer by Theo(13342)

Question 1087776: If 2 gal of premium unleaded gasoline costs $6.56, how much would it cost to completely fill a tank whose capacity is 9-gal?

Click here to see answer by josmiceli(19441)

Question 1087777: Biologists tagged 76 fish in a lake on January 1. On February 1, they returned and collected a random sample of 52 fish, 13 of which had been previously tagged. On the basis of this experiment, approximately how many fish does the lake have?

There are approximately how many fish in the lake?
Click here to see answer by ikleyn(52775)

Question 1087775: Write the ratio as a fraction in lowest terms.
Compare in inches.
4 feet to 31 inches
The ratio is?
Click here to see answer by ikleyn(52775)

Question 1087774: Find two consecutive odd integers such that 40 more than the lesser is three times the greater.
Click here to see answer by ikleyn(52775)

Question 1087773: In a recent year, person A and person B had two concert tours, and together they generated $191.3�million in ticket sales. If person B took in $24.5 million less than person A, how many millions of dollars did each tour generate?
Click here to see answer by ikleyn(52775)

Question 1087785: How much must be invested at the end of each year, for 4 years, to achieve an amount of $10000, if interest is earned at a rate of 6.25% per year, compounded annually?
Click here to see answer by jim_thompson5910(35256)

Question 1087863: Would you rather have a savings account that pays 5 % compounded semiannually or one that pays 5% compounded daily? explain
Click here to see answer by Alan3354(69443)

Question 1087828: find the time taken for a certain sum of money to double if the interest rate is 12% per annum compounded semi-annually
Click here to see answer by ankor@dixie-net.com(22740)

Question 1088029: A couple bought some stock for $40 per share that pays an annual dividend of $0.80 per share. After 1 year the price of the stock was $44. Find the simple interest rate on the growth of their investment.
how much % ?
If $5000 is invested at 7% annual simple interest, how long does it take to be worth $8150?
How many years?
Find the future value of an annuity of $1100 paid at the end of each year for 15 years, if interest is earned at a rate of 6%, compounded annually. (Round your answer to the nearest cent.)
How much $ ?
Find the future value of an ordinary annuity of $500 paid quarterly for 3 years, if the interest rate is 14%, compounded quarterly. (Round your answer to the nearest cent.)
How much $ ?
Click here to see answer by Boreal(15235)

Question 1088030: A debt of $5000 is to be amortized with 12 equal semiannual payments. If the interest rate is 12%, compounded semiannually, what is the size of each payment? (Round your answer to the nearest cent.)
How much $ ?
Click here to see answer by ankor@dixie-net.com(22740)

Question 1087989: A man invested a certain amount of money at 6% and another amount twice as as much at 8%. If his annual income from the two investments is Php 600, how much is invested at each rate?
Click here to see answer by Fombitz(32388)

Question 1088115: Please help me solve this word problem:A sum of money at compound inerest amounts to thrice itself in 3 years. In how many years will it be 9 times itself?
Click here to see answer by Boreal(15235)

Question 1088272: Can you please help me with this:)

1. Chris invests $10 000 at 7.2% per year, with monthly compounding periods. How long will it take for his investment to grow to $25 000?

Click here to see answer by jim_thompson5910(35256)

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