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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 1112944: Hellen needs 20 000 in three years time.what is the least amount that she should deposit now into an account that offers an annual interest rate of 15%,compounded every 3 months,to have the required amount by then? The answer to the nearest rand is?
Click here to see answer by Theo(13342)

Question 1112947: We have a circle with centre m and a diameter of 80 mm. There is a right-angled triangle inside the circle with two vertices on the circumference of the circle and the third vertex at the origin m.the shaded area in the diagram,rounded to one decimal digit is?
Click here to see answer by ankor@dixie-net.com(22740)

Question 1112989: the fare for a taxi is $3.20 plus $0.45 every 1/2 km. four people agree to share the cost equally of a 40 km trip. What is each persons fair share of the fare?
Click here to see answer by ikleyn(52767)

Question 1113150: Find the amount (future value) of the ordinary annuity. (Round your answer to the nearest cent.)
$450/month for 18 years at 2%/year compounded monthly
Click here to see answer by ikleyn(52767)

Question 1113236: How much can you withdraw after 6 months if you deposit $500 into a bank that offers 3% simple interest???
Click here to see answer by Alan3354(69443)

Question 1113170: Earl Ezekiel wants to retire in San Diego when he is 65 years old. Earl is now 50. He believes he will need $300,000 to retire comfortably. To date, Earl has set aside no retirement money. Assume Earl gets 6% interest compounded semiannually. How much must Earl invest today to meet his $300,000 goal?
Click here to see answer by Boreal(15235)

Question 1113148: Suppose that Ramos contributes $4000/year into a traditional IRA earning interest at the rate of 4%/year compounded annually, every year after age 37 until his retirement at age 67. At the same time, his wife Vanessa deposits $2800/year (the amount after paying taxes at the rate of 30%) into a Roth IRA earning interest at the same rate as that of Ramos. Suppose that Ramos withdraws his investment upon retirement at age 67 and that his investment is then taxed at 30%. (Round your answers to the nearest cent.)
How much will Ramos's investment be worth (after taxes) at that time?
How much will Vanessa's investment be worth at that time?

Click here to see answer by Theo(13342)

Question 1113449: miguel borrowed 18000.00 for 2 years and ending up paying 180.00 in simple interest. what was the interest rate?
Click here to see answer by 4419875(21)

Question 1113167: Brian Costa deposited $20,000 in a new savings account at 12% interest compounded semiannually. At the beginning of year 4, Brian deposits an additional $30,000 at 12% interest compounded semiannually. At the end of 6 years, what is the balance in Brian�s account?
Click here to see answer by Theo(13342)

Question 1113485: You buy 6 bags of gummy bears and 3 bags of chocolate for a total of $24.75. Your friend decides to buy 2 bags of gummy bears and 5 bags of chocolate for a total of $21.25.��How much do the bags of chocolates cost?
Click here to see answer by rothauserc(4718)

Question 1113471: a teacher invested $11,000 in two accounts. part of the money was invested at 8% annual simple intrest and the remainder at 6% annual simple intrest. if the teacher received a total of $820 in intrest after one year, how much did the teacher invest in each account?
Click here to see answer by solver91311(24713)

Question 1113484: After 20 years, Marcel's account earned $1200 in interest. If the interest rate (in decimal form) is 0.1, how much did Marcel initially invest?
Click here to see answer by solver91311(24713)

Question 1113171: Lorna Evenson is planning a trip to Alaska in 5 years. She calculated she will need $19,000 to cover her expenses. Lorna�s bank offers 8% interest compounded annually. What should Lorna invest now to have the needed funds?
Click here to see answer by Alan3354(69443)

Question 1113470: a total of $15,000 was invested in two savings accounts. one account pays 4% annual simple intrest and the other 6% annual simple intrest. if the total intrest earned after 1 year was $760, how much was invested at each rate?
Click here to see answer by ikleyn(52767)

Question 1113169: Hannah's aunt, 54 years old, is evaluating her retirement portfolio. She paid her house off in anticipation of an early retirement. In addition, she has invested wisely in her company�s 406k, a Roth IRA, municipal bonds, and certificates of deposit. She has amassed $292,000 in her diversified portfolio. Today, she has the opportunity to deposit her money at 9% compounded quarterly. Assume she retires at 61 years old.
How much will her investment be worth?
Click here to see answer by jorel1380(3719)

Question 1113605: 1000$ at 6% compounded quartley for 6 years

Click here to see answer by stanbon(75887)

Question 1113605: 1000$ at 6% compounded quartley for 6 years

Click here to see answer by ikleyn(52767)

Question 1113605: 1000$ at 6% compounded quartley for 6 years

Click here to see answer by MathTherapy(10550)

Question 1113630: Suppose you invest $78 a month in an annuity that earns a 2.8% APR, compounded monthly. How much money will you have in this account after 4 years?

Click here to see answer by ikleyn(52767)

Question 1113614: I do not understand any of this:
Week 2 Project
Canyon Drilling, Inc. has just come under new management. One of the first things the new management wants to accomplish is to identify its capital structure and the cost of additional funding, if needed.
According to the accounting department, the current balance sheet is accurate and reflects the financial structure of the company. They have also calculated the marginal tax rate to be 40%. The company�s beta is currently 1.15.
Your Chief Financial Officer, Marge, has also provided you the following information about the market and the company�s financials:
Company Specifics

Company Specifics

Debt:
3,600 par value ($1,000) bonds outstanding. All have a 7% coupon, and will mature in 20 years. Market value is currently $1,050 and interest is paid once a year.
Equity:
Common Stock
The company has 40,000 shares of common stock outstanding, and has a market price of $50 per share. The stock last paid a dividend of $1.40 and had a constant growth of 5% per year.

Preferred Stock
The company has 7,500 shares of 5% preferred stock outstanding. All have $100 par value and are selling for $80 per share.

Floatation costs: Debt = 4%, Equity = 5%

Market Specifics
Market risk premium = 7%
Risk free rate = 4%
Return on the average stock = 11%
Tasks:
� Assuming the same capital structure is to be maintained, what is the optimal capital structure for Canyon Drilling?
� What is the component cost of capital for the firm?
� Calculate Canyon Drilling�s after tax weighted average cost of capital, using the information above.
Please Help me. My name is Lucy
Click here to see answer by solver91311(24713)

Question 1113637: Best Motors has hired Robert Trent as its new president. Terms included the company�s agreeing to pay retirement benefits of $17,900 at the end of each semi-annual period for 12 years. This will begin in 4,015 days. If the money can be invested at 8% compounded semiannually, what must the company deposit today to fulfill its obligation to Robert?
Click here to see answer by solver91311(24713)

Question 1113636: Best Motors has hired Robert Trent as its new president. Terms included the company�s agreeing to pay retirement benefits of $17,900 at the end of each semiannual period for 12 years. This will begin in 4,015 days. If the money can be invested at 8% compounded semiannually, what must the company deposit today to fulfill its obligation to Robert?.
Click here to see answer by solver91311(24713)

Question 1113635: Best Motors has hired Robert Trent as its new president. Terms included the company�s agreeing to pay retirement benefits of $17,900 at the end of each semiannual period for 12 years. This will begin in 4,015 days. If the money can be invested at 8% compounded semiannually, what must the company deposit today to fulfill its obligation to Robert.?
Click here to see answer by solver91311(24713)

Question 1113634: Best Motors has hired Robert Trent as its new president. Terms included the company�s agreeing to pay retirement benefits of $17,900 at the end of each semiannual period for 12 years. This will begin in 4,015 days. If the money can be invested at 8% compounded semiannually, what must the company deposit today to fulfill its obligation to Robert??
Click here to see answer by solver91311(24713)

Question 1113633: Best Motors has hired Robert Trent as its new president. Terms included the company�s agreeing to pay retirement benefits of $17,900 at the end of each semiannual period for 12 years. This will begin in 4,015 days. If the money can be invested at 8% compounded semiannually, what must the company deposit today to fulfill its obligation to Robert?
Click here to see answer by solver91311(24713)

Question 1113578: The Johnsons have accumulated a nest egg of $50,000 that they intend to use as a down payment toward the purchase of a new house. Because their present gross income has placed them in a relatively high tax bracket, they have decided to invest a minimum of $2900/month in monthly payments (to take advantage of the tax deduction) toward the purchase of their house. However, because of other financial obligations, their monthly payments should not exceed $3200. If the Johnsons decide to secure a 15-year mortgage, what is the price range of houses that they should consider when the local mortgage rate for this type of loan is 4%/year compounded monthly? (Round your answers to the nearest cent.)

Most expensive $
Least expensive $
Click here to see answer by Theo(13342)

Question 1113684:
Click here to see answer by Alan3354(69443)

Question 1113918: Daniel purchased a 1-year CD in the amount of c, from a bank. He bought it at an anual interest rate of 6%. After 1 year, Daniel cashes in the CD. What is the total amount it is worth?

Click here to see answer by ikleyn(52767)

Question 1113980: how much intrest is paid on $1,500.00 invested at 7% per year for 3 years

Click here to see answer by amalm06(224)

Question 1114004: 1250 persons went to see a circus-show. Each adult paid ₹75 and each child paid ₹25 for the admission ticket. Find the number of adults and number of children, if the total collection from them amounts to ₹61,250
Please hlep me.... i want the woking of ever step please....
Click here to see answer by rothauserc(4718)

Question 1113987: Suppose Tom has 17 coins totaling $2.60. If he has only dimes and quarters, how many of each type does he have?

Click here to see answer by addingup(3677)

Question 1114073: Ms. Norente works in the ladies department in cebu she recieves 2,500 weekly salary plus a commission of 3% on all her sales over 25,000 if she sold 33,000 how much did she recieve as commission? what were her total earnings for the week? (note: this problem has two answers)
Click here to see answer by josgarithmetic(39615)

Question 1114081: Matthew has $5500 invested in the stock market. This amounts to 25% of his total saving. How much has Matthew saved?
Click here to see answer by greenestamps(13198)

Question 1114145: a) Grace invests �250,000 at a 6.5% interest rate annually. Compounding the interest annually, how long will it take his investment to double?
Click here to see answer by Theo(13342)

Question 1114202: Your annual salary 12 years ago was $14,500; it is now $25,000. What is the average annual rate of increase?
Click here to see answer by ikleyn(52767)

Question 1114200: Dianne won a lottery prize of $200,000. She invested the entire amount and expects a yearly return
of 10% per annum compounded monthly on her investment. Dianne will receive 150 equal monthly
payments with the first payment due to be paid to her in exactly 2 years. Find the size of the monthly
payments that Dianne will receive.
Click here to see answer by ikleyn(52767)

Question 1114352: Last week, each of 8 volunteers worked 40 hours at a charity fundraiser and raised an average of $18 per hour. This week, 12 volunteers, each working 32 hours, raised the same total amount of money. On average, how much money did each volunteer raise per hour this week?
Click here to see answer by ikleyn(52767)

Question 1114399: Dustin just retired, and has $530,000 to invest. A very safe Certificate of Deposit (CD) account pays 1.5%, while a riskier bond fund pays 5% in interest. Dustin figures he needs $24,000 a year in interest to live on. How much should he invest in each account to make enough interest while minimizing his risk?

Click here to see answer by Boreal(15235)

Older solutions: 1..45, 46..90, 91..135, 136..180, 181..225, 226..270, 271..315, 316..360, 361..405, 406..450, 451..495, 496..540, 541..585, 586..630, 631..675, 676..720, 721..765, 766..810, 811..855, 856..900, 901..945, 946..990, 991..1035, 1036..1080, 1081..1125, 1126..1170, 1171..1215, 1216..1260, 1261..1305, 1306..1350, 1351..1395, 1396..1440, 1441..1485, 1486..1530, 1531..1575, 1576..1620, 1621..1665, 1666..1710, 1711..1755, 1756..1800, 1801..1845, 1846..1890, 1891..1935, 1936..1980, 1981..2025, 2026..2070, 2071..2115, 2116..2160, 2161..2205, 2206..2250, 2251..2295, 2296..2340, 2341..2385, 2386..2430, 2431..2475, 2476..2520, 2521..2565, 2566..2610, 2611..2655, 2656..2700, 2701..2745, 2746..2790, 2791..2835, 2836..2880, 2881..2925, 2926..2970, 2971..3015, 3016..3060, 3061..3105, 3106..3150, 3151..3195, 3196..3240, 3241..3285, 3286..3330, 3331..3375, 3376..3420, 3421..3465, 3466..3510, 3511..3555, 3556..3600, 3601..3645, 3646..3690, 3691..3735, 3736..3780, 3781..3825, 3826..3870, 3871..3915, 3916..3960, 3961..4005, 4006..4050, 4051..4095, 4096..4140, 4141..4185, 4186..4230, 4231..4275, 4276..4320, 4321..4365, 4366..4410, 4411..4455, 4456..4500, 4501..4545, 4546..4590, 4591..4635, 4636..4680, 4681..4725, 4726..4770, 4771..4815, 4816..4860, 4861..4905, 4906..4950, 4951..4995, 4996..5040, 5041..5085, 5086..5130, 5131..5175, 5176..5220, 5221..5265, 5266..5310, 5311..5355, 5356..5400, 5401..5445, 5446..5490, 5491..5535, 5536..5580, 5581..5625, 5626..5670, 5671..5715, 5716..5760, 5761..5805, 5806..5850, 5851..5895, 5896..5940, 5941..5985, 5986..6030, 6031..6075, 6076..6120, 6121..6165, 6166..6210, 6211..6255, 6256..6300, 6301..6345, 6346..6390, 6391..6435, 6436..6480, 6481..6525, 6526..6570, 6571..6615, 6616..6660, 6661..6705, 6706..6750, 6751..6795, 6796..6840, 6841..6885, 6886..6930, 6931..6975, 6976..7020, 7021..7065, 7066..7110, 7111..7155, 7156..7200, 7201..7245, 7246..7290, 7291..7335, 7336..7380, 7381..7425, 7426..7470, 7471..7515, 7516..7560, 7561..7605, 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, 14356..14400, 14401..14445, 14446..14490, 14491..14535, 14536..14580, 14581..14625, 14626..14670, 14671..14715, 14716..14760, 14761..14805, 14806..14850, 14851..14895, 14896..14940, 14941..14985, 14986..15030, 15031..15075, 15076..15120, 15121..15165, 15166..15210, 15211..15255, 15256..15300, 15301..15345, 15346..15390, 15391..15435, 15436..15480, 15481..15525, 15526..15570, 15571..15615, 15616..15660, 15661..15705, 15706..15750, 15751..15795, 15796..15840, 15841..15885, 15886..15930, 15931..15975, 15976..16020, 16021..16065, 16066..16110, 16111..16155, 16156..16200, 16201..16245, 16246..16290, 16291..16335, 16336..16380, 16381..16425, 16426..16470, 16471..16515, 16516..16560, 16561..16605, 16606..16650, 16651..16695, 16696..16740, 16741..16785, 16786..16830, 16831..16875, 16876..16920, 16921..16965, 16966..17010, 17011..17055, 17056..17100, 17101..17145, 17146..17190, 17191..17235, 17236..17280, 17281..17325, 17326..17370, 17371..17415, 17416..17460, 17461..17505, 17506..17550, 17551..17595, 17596..17640, 17641..17685, 17686..17730, 17731..17775, 17776..17820, 17821..17865, 17866..17910, 17911..17955, 17956..18000, 18001..18045, 18046..18090, 18091..18135, 18136..18180, 18181..18225, 18226..18270, 18271..18315, 18316..18360, 18361..18405, 18406..18450, 18451..18495, 18496..18540, 18541..18585, 18586..18630