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

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Question 1109512: A fund earns interest at the nominal rate of 8% compounded quarterly. At
the end of each quarter, just after interest is credited, an expense charge
equal to 0.4% of the fund is withdrawn. Determine the annual effective
rate realized by the fund.

Click here to see answer by addingup(3677)

Question 1109515: Two bond funds pay interest at rates that differ by 4%. Money invested for one year in the first fund earns $450 interest. The same amount invested in the other fund earns $650. Find the lower rate of interest.

Click here to see answer by Boreal(15235)

Question 1109514: Two certificates of deposit pay interest at rates that differ by 4%. Money invested for one year in the first CD earns $120 interest. The same principal invested in the other CD earns $200. Find the two rates of interest.
Click here to see answer by jorel1380(3719)

Question 1109513: How long will it take to triple your money at a nominal interest rate
j1 = 12% if simple interest is allowed for part of a year?

Click here to see answer by Theo(13342)

Question 1109552: A department store sold 48
48
shirts one day. All short-sleeved shirts cost $15.00
$
15.00
each and all long-sleeved shirts cost $23.00
$
23.00
each. Total receipts for the day were $888.00
$
888.00
. How many of each kind of shirt were sold?
Click here to see answer by jorel1380(3719)

Question 1109785: Mercidez wants to invest long term with ksh 30000 she got from her friend. Over the next 10 years she hopes to have an income of 2000
Click here to see answer by ikleyn(52754)

Question 1109887: The manager of a store selling tea plans to mix a more expensive tea that costs $6 per pound with a less expensive tea that costs $3 per pound to create a 90-pound blend that will sell for $3.90 per pound. How many pounds of each type of tea are required?

Click here to see answer by josgarithmetic(39613)

Question 1109966: a woman has a total of 9,000 to invest.she invest part of the money in an account that pays 8% per year and the rest in an account that pays 9%per year if the interest earned in the first year is 750 how much did she invest in each account
Click here to see answer by ikleyn(52754)

Question 1109979: A homeowner must decide whether to buy or rent a garden rototiller. If she rents the
machine, the rental fee is $25 per day, and the daily cost to use it is $5 for gas. If she were
to buy the machine, the purchase price is $650, and the daily cost is $7 for gas, oil, and
maintenance. On which day of use would the rental costs become greater than the
ownership costs?
Click here to see answer by josmiceli(19441)

Question 1110019: Suppose that 120 children and 140 adults attend a show for which the total receipts are $530. If a parent and two young children pay $5.50, how much are the adult tickets and how much are the children's tickets?
Click here to see answer by stanbon(75887)

Question 1110047: a store sells regular green tea for $16 a pound and an exotic loose leaf tea for $28 a pound. to get rid of the 40 pounds of the exotic loose leaf tea that are not selling, a shopkeeper makes a blend to Puy on sale for $20 a pound. how many pounds of green tea should he use?
Click here to see answer by josgarithmetic(39613)

Question 1110071: Nico is saving money for his college education. He invest some money at 5%, and $2300 less than that amount at 3%. The investments produced a total of $163 interest in 1yr. How much did he invest at each rate?
Click here to see answer by josmiceli(19441)

Question 1110073: An actor invest some money at 6%, and $28000 more than twice the amount at 12%. The total annual interest earned from the investestment is $27960. How much did he invest at each amount? Use the six-step method.
Click here to see answer by mananth(16946)

Question 1110091: fleet street savings bank pays interest at the rate of 4.25% per year compounded weekly in a savings account whereas washington bank pays interest at the rate of 4.125% per year compounded daily. which bank offers a better rate of interest.
Click here to see answer by greenestamps(13195)

Question 1110072: Nico is saving money for his college education. He invest some money at 5%, and $1600 less than that amount at 3%. The investments produced a total of $144 interest in 1yr. How much did he invest at each rate?
Click here to see answer by addingup(3677)

Question 1110048: George invested $ 9000 for 12 years at 9% p.a. interest, compounded quarterly. What is
the value of this investment?
Click here to see answer by addingup(3677)

Question 1110088: find the presented value of $40,000 due in 4 years at the given rate of interest 5%/year compounded continuously
Click here to see answer by jorel1380(3719)

Question 1110130: You have $15,000 to invest, part at 6% and the rest at 8%. If x is the amount invested at 6%, write an algebraic expression that represents the total annual income from both investments. Simplify the expression.
Click here to see answer by jorel1380(3719)

Question 1110129: You have $15 comma 00015,000 to invest, part at 6 %6% and the rest at 8 %8%. If x is the amount invested at 6 %6%, write an algebraic expression that represents the total annual income from both investments. Simplify the expression.
Click here to see answer by Alan3354(69443)

Question 1110225: The annual interest on a $19,000 investment exceeds the interest earned on a $12,000 investment by $531. The $19,000 is invested at a 0.4% higher rate of interest than the $12,000. What is the interest rate of each investment?
Click here to see answer by Boreal(15235)

Question 1110276: a digital camera with an original tag off 300$ was marked down by 20% you have a coupon good for additional 10% of. what is the equivalent percent discount
Click here to see answer by ikleyn(52754)

Question 1110332: At the city museum, child admission is
$6.70
and adult admission is
$9.90
. On Saturday,
114
tickets were sold for a total sales of
$965.40
. How many adult tickets were sold that day?
Click here to see answer by josgarithmetic(39613)

Question 1110366: Divide $63 among three men in the ratio 1/2: 1/4: 1/8. How much will each get?
Click here to see answer by josgarithmetic(39613)

Question 1110366: Divide $63 among three men in the ratio 1/2: 1/4: 1/8. How much will each get?
Click here to see answer by ikleyn(52754)

Question 1110365: Divide $88 between A and B so that for every $3 received by A, B will receive $5, how much will each get?
Click here to see answer by ikleyn(52754)

Question 1110373: A sum of money is divided among Alan. Bill and Carl in the ratio 2:4:7. If Carl receives $27 more than Bill, how much more does Bill receive than Alan?
Click here to see answer by josgarithmetic(39613)

Question 1110374: A sum of money was divided among John, Paul, and Robert in the ratio 2:4:5. Had the sum of money been divided equally among them. John's share would have been larger by $50. What was the total sum of money?
Click here to see answer by josmiceli(19441)

Question 1110371: The monthly salaries of 3 men are $500,$700, and $900 respectively. Divide a bonus of $1050 among them in proportion to their salaries/ How much bonus will each get?
Click here to see answer by Cromlix(4381)

Question 1110473: Just this year Mira decided to invest a total of 20,000 in an account that earns 5.2% interest compounded continuously. Mira is now 20 years old. Set up an equation determining the total money in the account at any time t in years. In what year will the principal double (in value)? How old is Mira by then?
Click here to see answer by Boreal(15235)

Question 1110503: You have $6,000 to invest into two stock funds. The first fund pays 5% annual interest and the second account pays 9% annual interest. If after a year you have made $380 in interest, how much money did you invest in each account?
Click here to see answer by Boreal(15235)

Question 1110515: A used car salesperson is paid a commission of $25 plus 40% of the selling price in excess of owners cost. The owner claims that used cars typically sell for at least owners cost plus $200 and at most owners cost plus $3000. For each sale made, over what range can the salesperson expect the commission to vary?
Click here to see answer by stanbon(75887)

Question 1110576: If an amount of 2,160, which includes 10% simple interest for 2 years, is paid back, how much was borrowed 2 years earlier?( $1800)

Click here to see answer by math_helper(2461)

Question 1110629: $2500 is invested at 6% per year compounded annually. How long will it take this investment to grow to $10,000?
Click here to see answer by addingup(3677)

Question 1110277: find the monthly house payment necessary to amortize an 8.4% long of 202,400 over 15 years
Click here to see answer by Alan3354(69443)

Question 1110711: in a municipal savings account, a city employee earns 3% interest on $350. How much money did the employee earn in interest for 1 year
Click here to see answer by Boreal(15235)

Question 1110704: Bella Sandino made a $600 loan to her friend, Sadie, at 11%. Sadie paid back the loan with interest of $19.25. How long in days was the loan outstanding? (Use 360 days a year.)
Click here to see answer by Boreal(15235)

Question 1110708: how much was deposited if the bank paid jane seven hundred naira interest after two years at the rate of 5% per annum ?
Click here to see answer by greenestamps(13195)

Question 1110701: Tristan Sandino had a bad credit rating and went to a local cash center. He took out a $100 loan payable in two weeks at $113.50. What is the percent of interest paid on this loan? (Do not round intermediate calculations. Round your answer to the nearest whole percent.)
Click here to see answer by stanbon(75887)

Question 1110732: Your parents started depositing $90 each month, from the day of your birth (first deposit made when you were born). How much money do you have at age 18 with monthly compounding at a rate of 10%?
Click here to see answer by ikleyn(52754)

Question 1110852: Last year, Ryan had $20,000 invest. He invested some of it in an account that paid 9% simple interest per year, and he invested the rest in an account that paid 10% simple interest per year. After one year, he received a total of $1840 in interest. How much did he invest in each account?
Click here to see answer by ewatrrr(24785)

Question 1110822: a teCher can spend as much as $125.00 to take students to a movie. A movie theater charges a $10.00 group fee and $5.50 per ticket which of the following inequalities represents the problem and could be solved to find the maximum number of students x, who could attend the movie ?
Click here to see answer by ewatrrr(24785)

Question 1110868: Problem Page Sam bought a desktop computer and a laptop computer. Before finance charges, the laptop cost $400 more than the desktop. He paid for the computers using two different financing plans. For the desktop the interest rate was 7% per year, and for the laptop it was 8% per year. The total finance charges for one year were 275 . How much did each computer cost before finance charges?
Click here to see answer by jorel1380(3719)

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