Tutors Answer Your Questions about Money Word Problems (FREE)
Question 1104685: Sollozo just made a single payment to repay a loan he had with the Corleone Finance Company. He paid a total of $86,500 which included interest of $56,500 at 48% compounded monthly. How long ago was the money borrowed?
Click here to see answer by jorel1380(3719)   |
Question 1104802: Hal purchases a car for $65,000, makes a down payment of 30%, and finances the rest with a 3-year car loan at an annual interest rate of 6.2% compounded monthly. What is the amount of his monthly loan payment?
Click here to see answer by addingup(3677)  |
Question 1104577: Sienna decides to buy a car. She has enough money saved up for the down payment on the car. The total cost of the car including taxes is $4800. She pays $500 down and then agrees to pay the balance over the next two years in 24 equal payments.
Sienna works part time at a bookstore and is paid $12 for each hour she works. Her employer has agreed to let her work extra hours each month over the next two years to earn the additional money she will need for her car payment each month.
What is the approximate number of additional hours per month Sienna will have to work over the next two years in order to earn enough extra money to cover her monthly car payment?
Click here to see answer by addingup(3677) |
Question 1104941: A school fund raising event sold a total of 225 tickets and generated a total revenue of $898.50 there are two types of tickets: adult tickets and child tickets. Each adult ticket cost %4.30, and each child ticket costs $3.80
Click here to see answer by ikleyn(52747)  |
Question 1105019: allan bought a household appliance with payments of 3500 every end of quarters for 2 years and 6 months.
he made a down payment of 6000 to start with.
if money is worth 8% compounded quarterly, find the equivalent cash price of the appliance
Click here to see answer by Theo(13342)  |
Question 1105087: Each of the ten volumes of the collected works of Theodore Sturgeon is available in paperback for $\$$15 or in hardcover for $\$$25. Theresa buys a copy of each of the ten volumes for a total of $\$$220. How many hardcover volumes did she buy?
Click here to see answer by Boreal(15235)  |
Question 1105196: Chris wants to put aside $2,000 to buy a house in the future. He decides to invest the money into a Certificate of Deposit that will earn 4% interest per year. Write an equation to calculate the value (y) of his certificate after time period x.
Click here to see answer by stanbon(75887) |
Question 1105248: Joely's Tea Shop, a store that specializes in tea blends, has available 45 pounds of A grade tea and 70 pounds of B grade tea. These will be blended into 1 pound packages as follows: A breakfast blend that contains one third of a pound of A grade tea and two thirds of a pound of B grade tea and an afternoon tea that contains one half pound of A grade tea and one half pound of B grade tea. If Joely makes a profit of $1.50 on each pound of the breakfast blend and $2.00 profit on each pound of the afternoon blend, how many pounds of each blend should she make to maximize profits? What is the maximum profit?
Click here to see answer by Theo(13342) |
Question 1105261: The Fiedler family has up to $130,000 to invest. They decide that they want to have at least $40,000 invested in stable bonds yielding 5.5% and that no more than $60,000 should be invested in more volatile bonds yielding 11%. How much should they invest in each type of bond to maximize income if the amount in the stable bond should not exceed the amount in the more volatile bond? What is the maximum income?
Click here to see answer by Theo(13342) |
Question 1105315: Caitlin is a co-op student. She invested her work-term earnings of $10,000 at 4% simple interest, paid annually. She intends to use the money in a few years to take a dream vacation with a friend.
(a) How long will the investment take to grow to a future value of $12,000?
(b) Determine Caitlin’s rate of return.
Click here to see answer by stanbon(75887) |
Question 1105359: A women invested different amount at 8%,8¾% and 9%,all at simple interest. Altogether she invested 40000/= and earn 3455/= per year.how much does she have invested at each rate if she has 4000/= more invented at 9% than at 8% (solve by using matrix inverse method).
Click here to see answer by stanbon(75887) |
Question 1104576: Derek used his credit card to buy a hay ride for him and his friends. The ride cost $500 plus 5% GST. He did not pay his bill within the grace period and must pay interest on his bill. The interest rate is 15% compounded daily from the date of purchase.
A) What is the total amount of hay ride with taxes?
B) At $120 per month, how long will it take Derek to pay off the balance?
C) How much will he pay in interest, paying $120 monthly?
Click here to see answer by Theo(13342) |
Question 1105488: Ricky invests $9200 in two different accounts. The first account paid 8 %, the second account paid 4 % in interest. At the end of the first year he had earned $536 in interest. How much was in each account?
$ at 8 %
$ at 4 %
Click here to see answer by ikleyn(52747) |
Question 1105491: Jolene invests her savings in two bank accounts, one paying 6 percent and the other paying 8 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 5840 dollars. How much did she invest at each rate?
Amount invested at 6 percent interest is
Amount invested at 8 percent interest is
Click here to see answer by ikleyn(52747) |
Question 1105489: Nate invests $8600 in two different accounts. The first account paid 7 %, the second account paid 12 % in interest. At the end of the first year he had earned $867 in interest. How much was in each account?
$ at 7 %
$ at 12 %
Click here to see answer by ikleyn(52747) |
Question 1105486: Naomi invests $1800 in one account and $800 in an account paying 1 % higher interest. At the end of one year she had earned $190 in interest. At what rates did she invest?
$1800 invested at %
$800 invested at %
Click here to see answer by ikleyn(52747) |
Question 1105496: The admission fee at an amusement park is $2.00 for children and $6.80 for adults. On a certain day, 354 people entered the park, and the admission fees collected totaled 1524 dollars. How many children and how many adults were admitted?
number of children equals
number of adults equals
Click here to see answer by josgarithmetic(39613) |
Question 1105495: A bank loaned out $18,500, part of it at the rate of 2% annual interest, and the rest at 9% annual interest. The total interest earned for both loans was $1,280.00. How much was loaned at each rate?
$ was loaned at 2% and
$ was loaned at 9%
Click here to see answer by ikleyn(52747) |
Question 1105499: A bank loaned out $18,500, part of it at the rate of 2% annual interest, and the rest at 9% annual interest. The total interest earned for both loans was $1,280.00. How much was loaned at each rate?
$ was loaned at 2% and
$ was loaned at 9%.
Click here to see answer by Alan3354(69443)  |
Question 1105498: Natasha invests $2100 in one account and $1400 in an account paying 2 % higher interest. At the end of one year she had earned $168 in interest. At what rates did she invest?
$2100 invested at %
$1400 invested at %
Click here to see answer by Alan3354(69443) |
Question 1105498: Natasha invests $2100 in one account and $1400 in an account paying 2 % higher interest. At the end of one year she had earned $168 in interest. At what rates did she invest?
$2100 invested at %
$1400 invested at %
Click here to see answer by ikleyn(52747) |
Question 1105497: The admission fee at an amusement park is $3.75 for children and $6.00 for adults. On a certain day, 333 people entered the park, and the admission fees collected totaled 1620 dollars. How many children and how many adults were admitted?
number of children equals
number of adults equals
Click here to see answer by Alan3354(69443) |
Question 1105497: The admission fee at an amusement park is $3.75 for children and $6.00 for adults. On a certain day, 333 people entered the park, and the admission fees collected totaled 1620 dollars. How many children and how many adults were admitted?
number of children equals
number of adults equals
Click here to see answer by josgarithmetic(39613) |
Question 1104554: Birute deposits $500 in a savings account with a simple interest rate of 1.3%. How could you use this information to find the interest she would earn in 4 years and determine the percent change in her savings account?
Click here to see answer by Boreal(15235) |
Question 1105732: A person got 100000 dollar when he retired from service. He deposited some of that amount of money in bank and rest of his money in the post office and got 5400 dollar in total per year as interest .If the rate of simple interest per annum in the bank and in the post office are 5% and 6% respectively then let us write by calculating the money he had deposited in the bank and post office.
Click here to see answer by ikleyn(52747) |
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