Tutors Answer Your Questions about Money Word Problems (FREE)
Question 1088306: 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.)
my answer was wrong... $27,139.78
Click here to see answer by Fombitz(32388)   |
Question 1088594: Elaine invested some money in an account paying 16%, and $100 more in an account paying 24%. If the amount of interest earned that year at 24% was $220 more than at 16%, how much was invested at each rate>
Click here to see answer by ikleyn(52767)  |
Question 1088590: Debbie has a bank with nicels, dimes, and quarters. She has 30 more dimes than nickels and 4 more quarters than twice the number of nickels. Debbie uses 5 quarters and one nickel to make a purchase and has $17.00 left. How many of each type of coin did she start with?
Click here to see answer by josgarithmetic(39615) |
Question 1088627: A debt of $8000 is to be amortized with 6 equal semiannual payments. If the interest rate is 11%, compounded semiannually, what is the size of each payment? (Round your answer to the nearest cent.)
Thank you, having trouble with this one.
Click here to see answer by Fombitz(32388) |
Question 1088649: Find the future value of an ordinary annuity of $1,000 paid quarterly for 5 years, if the interest rate is 20%, compounded quarterly. (Round your answer to the nearest cent.)
Please show work please. Thank you
Click here to see answer by addingup(3677)  |
Question 1088181: 1. The Electrocomp Corporation manufactures two electrical products: air conditioners and large fans. The assembly process for each is similar in that both require a certain amount of wiring and drilling. Each fan must go through 2 hours of wiring and 1 hour of drilling. Each air conditioner takes 3 hours of wiring and 2 hours of drilling. During the next production period, 240 hours of wiring time are available and up to 140 hours of drilling time may be used. Each air conditioner sold yields a profit of $25 and each fan assembled may be sold for a $15 profit. Also management decided that to ensure an adequate supply of air conditioners for a contract, at least 20 air conditioners should be manufactured. Since Electrocomp incurred an oversupply of fans the previous period, management also insist that no more than 80 fans be produced during this production period.
a. Formulate a linear programming model for the maximization of profit.
b. Solve your linear programming model, using corner point graphical approach. Indicate your corner points coordinates on the graph.
Shade your feasible region and determine the best combination of air conditioner and fans that yields the highest profit.
Click here to see answer by Fombitz(32388) |
Question 1088873: Alex and Jimmy entered into a business partnership in 1985.the total capital of the business was $27,000 which they agreed to contribute in the ratio 2:1 respectively. the annual profit was shared as follows: Alex was paid 5.5% of the total profit for his service as a manager. The remainder of the profit was shared in the ratio of their contributions to the capital. if Alex received $6,850 out of the total profit.
1. what is the total profit of the year
2. calculate Jimmy's share of the profit as a percentage of his initial contribution to the capital.
3. if Alex had to pay 30% of the amount he received as tax, how much did he pay??
Click here to see answer by Theo(13342)  |
Question 1088931: Using the future value calculation, determine at an interest rate of 3%, what would be your total balance available at the end of five years if you leave the $5,000 untouched. Show your calculations, as well as, your answer in your portfolio.
Click here to see answer by Theo(13342) |
Question 1088931: Using the future value calculation, determine at an interest rate of 3%, what would be your total balance available at the end of five years if you leave the $5,000 untouched. Show your calculations, as well as, your answer in your portfolio.
Click here to see answer by MathTherapy(10550)  |
Question 1089044: You have already invested $600 in a stock with an annual return of 11%. How much of an additional $1,500 should be invested at 12% and how much at 6% so that the total return on the entire $2,100 is 9%? (Round each answer to the nearest cent.)
Click here to see answer by Theo(13342) |
Question 1089203: Jane has swum 30 laps in the lagoon and is continuing to swim at a rate of 15 laps per hour. Tarzan has swum only 20 laps but is continuing to swim at a rate of 25 laps per hour. How many hours will it be before the two have swum an equal number of laps?
Click here to see answer by Theo(13342) |
Question 1089194: I bought a car for $4200 and put $500 deposit in that left $3700 to pay and I paid $44 a week for 104 weeks the interest I paid was $980 at what rate of interest was I charge. and could you show me how to work out the answer
thank you . Aileen price .plnajprice@gmail.com
Click here to see answer by Theo(13342) |
Question 1089248: Wages. JoAnn works in the publicity office at the state university. She is paid $10 an hour for the first 35 hours she works each week and $15 an hour for every hour after that. If she makes $455 one week, how many hours did she work?
Click here to see answer by mm(1) |
Question 1089252: if You want to buy a $240,000 home. You plan to pay 5% as a down payment, and take out a 30 year fixed loan for the rest.
Round all answers to the nearest cent as needed.
a) How much is the loan amount going to be?
$
b) What will your monthly payments be if the interest rate is 4.9%?
$
c) What will your monthly payments be if the interest rate is 5.9%?
$
Click here to see answer by solver91311(24713)  |
Question 1089392: Loan Interest Rates: A realtor borrowed $90,000 to develop some property. He was able to borrow part of the money at 5.5% interest and the rest at 6%. The annual interest on the two loans amounts to $5125. How much was borrowed at each rate?
Click here to see answer by addingup(3677) |
Question 1089392: Loan Interest Rates: A realtor borrowed $90,000 to develop some property. He was able to borrow part of the money at 5.5% interest and the rest at 6%. The annual interest on the two loans amounts to $5125. How much was borrowed at each rate?
Click here to see answer by ikleyn(52767) |
Question 1089665: A businessman bought some item for Rs. 7500. He kept 5 item for himself and sold the remaining items at a profit of Rs.30 per item. From the amount in this deal he could buy 4 items. Find the original price of each item.
Click here to see answer by ikleyn(52767) |
Question 1089632: (b) Given your interest in sports and computers, you are considering establishing a computer games development business. You would like to run the business for the next 5 years and your required return is 18%. You would need hardware worth around $200 000 to start development and production of your first game ‘Super Hoop Croquet’. The equipment would be scrapped at the end of the project.
You have decided to locate your business in a regional centre rather than the city in order to lower rental costs. Your annual rent will be $30 000. The going rate for programmers in the area is $70 000 p.a. and you would employ 4 of these.
Sales for the first year are expected to be 3 700 units. Sales in units are expected to grow at 7% p.a. for the following 4 years of the project. The selling price will be around $130 per unit and the production costs will be $16 per unit. Marketing costs are expected to be 20% of annual sales and are paid at the start of each year based on the sales estimate for the year, thus in year 5 there won’t be any marketing cost. An inventory worth $52 000 will also be needed at the commencement of operations. The inventory cost will be recovered at the end of the project.
Showing all relevant cash flows, calculate the project’s NPV. No incomplete units can be sold, so round the unit sales to the nearest whole number. Indicate if you should start this business or not
Click here to see answer by solver91311(24713) |
Question 1089785: Harry deposits $3600 in an account that pays 8% simple interest, and $4500 in a second account which has a higher interest rate but is more risky. What interest rate must he get on the second account in order to earn at least $700 in interest for one year?
Write your answer as a percent, round your answer to two decimal places.
Let '<=' represent < and '>=' represent > in the drop down box below:
Click here to see answer by addingup(3677) |
Question 1089785: Harry deposits $3600 in an account that pays 8% simple interest, and $4500 in a second account which has a higher interest rate but is more risky. What interest rate must he get on the second account in order to earn at least $700 in interest for one year?
Write your answer as a percent, round your answer to two decimal places.
Let '<=' represent < and '>=' represent > in the drop down box below:
Click here to see answer by MathTherapy(10550) |
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