Tutors Answer Your Questions about Money Word Problems (FREE)
Question 1111653: (Simultaneous equations problems)
If Jeff hires 8 bricklayers and 2 roofers, his daily payroll is $1260. If he hires 10 bricklayers and 5 roofers, his daily payroll is $1950. What is the daily wage of each bricklayer and each roofer?
Click here to see answer by ikleyn(52776)   |
Question 1111723: You want to buy a $242,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan at 5.45% interest for the rest.
a) How much is the loan amount going to be? (my answer is 217800)
b) What will your monthly payments be? (my answer is 1229.8)
c) How much total interest do you pay?
d) Suppose you want to pay off the loan in 15 years rather than 30. What will your monthly payment be?
e) How much money in interest will you save if you finance for 15 years instead of 30 years?
Can you help me the rest?
Click here to see answer by greenestamps(13198)  |
Question 1111699: The Treasury Department auctioned $21 billion in three-month bills in denominations of ten thousand dollars at a
discount rate of 4.965%, according to the March 13, 2007, issue of the Chicago Sun-Times. What would be the effective rate of interest? Round your answer to the nearest hundredth percent.
Click here to see answer by stanbon(75887) |
Question 1111815: If the population of a Fantasy Island is growing at 2% per year and if its population in the year 2006 was 2,200,000.
a. Determine an exponential equation representing its population as a function of time.
b. Determine its population in 2020.
c. Determine what was its population in 2004.
Click here to see answer by rothauserc(4718)  |
Question 1111818: i. If the profit derived from producing x hundred units of a commodity is P = 4000(x − 2)(15 − x) dollars. a. Find P’(x).
b. Determine the level of output at which P’(x) = 0.
c. What is the economic significance of the level of production determined in part (b) above?
Click here to see answer by rothauserc(4718) |
Question 1111817: A farmer has 300 square metres of land suitable for cultivating the crops baigan, bodi, and pumpkin. The cost per square metre of cultivating baigan, bodi, and pumpkin is $20, $60, and $70, respectively. The farmer has $13,350 available for land cultivation. Each square metre of baigan requires 10 hours of labour time, each square metre of bodi requires 35 hours, and each square metre of pumpkin requires 30 hours. The farmer has a maximum of 6525 hours of labour time available. If he desires to plant his entire plot of land, use the entire budget, and all the labour time available:
a. Derive a system of three equations in x, y and z, where x is the number of square metres of baigan, y is the number of square metres of bodi, and z is the number of square metres of pumpkin planted.
18
b. Use the inverse method to derive, how many square metres of each crop should he plant?
Click here to see answer by mananth(16946)  |
Question 1111882: Barry works as a car salesperson. In a week, he earns $180.00 plus 3.8% of the value of any car he sells. In one week of work, he sells one car for $15 000 and another for $12 999. What does Barry earn in that week?
Click here to see answer by amalm06(224)  |
Question 1111897: linda invested some money for one year in bonds that pay 8% simple interest and three times as much in preferred stock that earns 11% simple interest. if the total interest earned from the two investments was $1640, how much was invested in the bonds?
Click here to see answer by ikleyn(52776) |
Question 1111897: linda invested some money for one year in bonds that pay 8% simple interest and three times as much in preferred stock that earns 11% simple interest. if the total interest earned from the two investments was $1640, how much was invested in the bonds?
Click here to see answer by josmiceli(19441)  |
Question 1111945: a man had $2,500 invested in a mutual fund which netted 2.5% profit for the last year. He also had $5,200 invested in a bond fund. What percent yearly profit would be needed by the bond fund in order that the combined profit would be 4% of the total investment?
The words have me confused and I can't figure out a formula
Click here to see answer by MathTherapy(10551)  |
Question 1111840: If sales at ABC Company was $0.8 million in the first year of operation and is
expected to increase annually at a rate of 6%.How much is sales expected to be in the 8
th year
of operation and what would be the total sales over ABC′
sfirst 10 years in business?
(Give answer in millions to 1 d. p)
Click here to see answer by Theo(13342)  |
Question 1112018: Marcia has $18,000 to invest in two different investment. she invested $10,000 at 4% yearly interest in one investment. at what rate must she in vest the remainder so that she earns a yearly interest of more then $700?
Click here to see answer by ikleyn(52776) |
Question 1112388: My wants to buy three shirts which were originally priced $49.96 each. The store will discount the price of the third shirt and then apply a 7.1% tax to the total cost of all three shirts. Including the tax ,what will the mean cost of each shirt.
Click here to see answer by rfer(16322) |
Question 1112388: My wants to buy three shirts which were originally priced $49.96 each. The store will discount the price of the third shirt and then apply a 7.1% tax to the total cost of all three shirts. Including the tax ,what will the mean cost of each shirt.
Click here to see answer by ikleyn(52776) |
Question 1112473: 1.) A savings account in which people make regular payment amounts to save toward future goals like college or retirement is called an annuity. In the formula below, P is the regular payment amount, n is the number of times that interest is compounded per year (which is also the number of payments made per year), r is the annual interest rate, A is the future value of the annuity, and t is the number of years:
A(t)=P[1+r/n)^nt - 1]/r/n
Megan opens a savings account to pay for her new baby's college education. She deposits $200 every month into the account at an annual interest rate of 4.2% compounded monthly.
a.) Find A(t), the value of Megan's account after t years.
b.) What is the value of Megan's account after 8 years?
c.) What is the rate of change in the value of Megan's account after 8 years?
Click here to see answer by ikleyn(52776) |
Question 1112474: Rajesh's temperature T (in degrees Fahrenheit) during a recent illness over the course of t hours is given by T(t)=98.6 + 4t/t^2 +1
a.) Find the rate of change of the temperature with respect to time.
b.) Find the temperature at t=2.
c.) Find the rate of change of the temperature after 2 hours.
Click here to see answer by greenestamps(13198) |
Question 1112513: Emily invested a total of $12,000 in two savings accounts. One account earns 5% simple interest and the other earns 8% simple interest. Find the amount invested in each account account if she receives a total of $840 interest after 1 year
Click here to see answer by ikleyn(52776) |
Question 1112514: The owners of a marina bought 6
canoes to be used as rentals at a cost of $400
per canoe. They borrowed 80
%
of the total cost for 10
months at 7 and one half
%
interest. Find the amount due using simple interest.
Click here to see answer by stanbon(75887) |
Question 1112520: Sydney is buying a car and needs to take out a loan for
$
2
3
,
5
0
0
$23,500. The bank is offering a monthly interest rate of 0.5%, for a 5 year loan. Using the formula below, determine her monthly payment, to the nearest dollar.
M
=
P
r
(
1
+
r
)
n
(
1
+
r
)
n
−
1
M=
(1+r)
n
−1
Pr(1+r)
n
M
=
M= the monthly payment
P
=
P= the amount borrowed
r
=
r= the interest rate per month
n
=
n= the number of payments
Click here to see answer by ikleyn(52776) |
Question 1112590: e
A chemical company makes two brands of antifreeze. The first brand is
65
%
pure antifreeze, and the second brand is
90
%
pure antifreeze. In order to obtain
90
gallons of a mixture that contains
75
%
pure antifreeze, how many gallons of each brand of antifreeze must be used?
Click here to see answer by ikleyn(52776) |
Question 1112589: Manuel invested his savings in two investment funds. The amount he invested in Fund A was
$
2000
less than the amount he invested in Fund B. Fund A returned a
5
%
profit and Fund B returned a
7
%
profit. How much did he invest in Fund A, if the total profit from the two funds together was
$
1100
?
Click here to see answer by mananth(16946) |
Question 1112792: Chelea took out three loans for a total of $76,000 to start an organic orchard.
Her business equipment loan was at an interest rate of 11%, the small business loan was at an interest rate of 4%, and her home equity loan was at an interest rate of 5.5%. The total simple interest due on the loans in one year was $4465.
The annual simple interest due on the home equity was $825 more than the interest on the business equipment loan. How much did she borrow from each source?
(Im confused over the 5.5 because when I work out the problem I get a fraction)
Click here to see answer by stanbon(75887) |
Question 1112914: Carly invested a total of 10,000 into two separate accounts one account pay 6% interest in the other paid 8% interest. If the annual income from both accounts with $650, how much did he have invested in each account
Click here to see answer by ikleyn(52776) |
Question 1112916: For a summer sales job, you are choosing between two pay arrangements: a weekly salary of $200 plus 5% commission on sales, or a straight 9% commission. For how many dollars of sales will the earnings be the same regardless of the pay arrangement?
Click here to see answer by stanbon(75887) |
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7606..7650, 7651..7695, 7696..7740, 7741..7785, 7786..7830, 7831..7875, 7876..7920, 7921..7965, 7966..8010, 8011..8055, 8056..8100, 8101..8145, 8146..8190, 8191..8235, 8236..8280, 8281..8325, 8326..8370, 8371..8415, 8416..8460, 8461..8505, 8506..8550, 8551..8595, 8596..8640, 8641..8685, 8686..8730, 8731..8775, 8776..8820, 8821..8865, 8866..8910, 8911..8955, 8956..9000, 9001..9045, 9046..9090, 9091..9135, 9136..9180, 9181..9225, 9226..9270, 9271..9315, 9316..9360, 9361..9405, 9406..9450, 9451..9495, 9496..9540, 9541..9585, 9586..9630, 9631..9675, 9676..9720, 9721..9765, 9766..9810, 9811..9855, 9856..9900, 9901..9945, 9946..9990, 9991..10035, 10036..10080, 10081..10125, 10126..10170, 10171..10215, 10216..10260, 10261..10305, 10306..10350, 10351..10395, 10396..10440, 10441..10485, 10486..10530, 10531..10575, 10576..10620, 10621..10665, 10666..10710, 10711..10755, 10756..10800, 10801..10845, 10846..10890, 10891..10935, 10936..10980, 10981..11025, 11026..11070, 11071..11115, 11116..11160, 11161..11205, 11206..11250, 11251..11295, 11296..11340, 11341..11385, 11386..11430, 11431..11475, 11476..11520, 11521..11565, 11566..11610, 11611..11655, 11656..11700, 11701..11745, 11746..11790, 11791..11835, 11836..11880, 11881..11925, 11926..11970, 11971..12015, 12016..12060, 12061..12105, 12106..12150, 12151..12195, 12196..12240, 12241..12285, 12286..12330, 12331..12375, 12376..12420, 12421..12465, 12466..12510, 12511..12555, 12556..12600, 12601..12645, 12646..12690, 12691..12735, 12736..12780, 12781..12825, 12826..12870, 12871..12915, 12916..12960, 12961..13005, 13006..13050, 13051..13095, 13096..13140, 13141..13185, 13186..13230, 13231..13275, 13276..13320, 13321..13365, 13366..13410, 13411..13455, 13456..13500, 13501..13545, 13546..13590, 13591..13635, 13636..13680, 13681..13725, 13726..13770, 13771..13815, 13816..13860, 13861..13905, 13906..13950, 13951..13995, 13996..14040, 14041..14085, 14086..14130, 14131..14175, 14176..14220, 14221..14265, 14266..14310, 14311..14355, 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