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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 1118808: A man bought a used computer for $80, repaired it, and sold it for $143, thus making a profit of 30%. How much did he spend on repairs?
Click here to see answer by Theo(13342)

Question 1118800: If 20 children attend a skating party, the price per ticket will be 50 cents. For each child in excess of 20 the price of a ticket will be decreased by 1 cent. Under this arrangement, what attendance will yield the greatest gross receipts?
Click here to see answer by ankor@dixie-net.com(22740)

Question 1118799: A graphic artist needs to construct a design that uses a rectangle whose length is 5 cm longer than its width x.
(a) Construct a model that gives the perimeter P(x) of the rectangle.
(b) If the perimeter of the rectangle is 38 cm, what are the dimensions of the rectangle?

Click here to see answer by josgarithmetic(39613)

Question 1118798: (1)
The perimeter of a rectangle is 94 m. The width of the rectangle is 7 m less than the length. Find the length and width of the rectangle.
(2)
The perimeter of a triangle is 36 ft. One side of the triangle is 2 ft longer than the second side. The third side is 4 ft longer than the second side. Find the length of each side.

Click here to see answer by josgarithmetic(39613)

Question 1118791: Lili invests $15,000 in two one-year certificates of deposit. One certificate pays 3%, and the other pays
3.5% simple interest annually.
(a) Construct a model for the total interest I(x) Lili earns in one year on her investments. (Let x represent the amount invested at 3%.)
(b) If Lili's total interest is $510.00, how much money did she invest in each certificate?

Click here to see answer by solver91311(24713)

Question 1118851: Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced.
Assume that you take out a $4000 loan for 30 months at 7% APR. How much of the first month's payment is interest? (Round your answer to the nearest cent.)
Click here to see answer by Theo(13342)

Question 1118899: a company borrowed 75000 for 9 years at a simple interest of 13.5% to buy cabinet's. find the total amount paid on the loan
Click here to see answer by addingup(3677)

Question 1118990: Complete the table assuming continuously compounded interest. (Round your answers to two decimal places.)
Initial Investment: UNKNOWN
Annual % Rate: UNKNOWN
Time to Double: 11 Years
Amount after 10 Years: $1800
Click here to see answer by htmentor(1343)

Question 1119006: How many ways can you spilt $614 in twenty�s, ten�s and dollar bills?
Click here to see answer by greenestamps(13195)

Question 1118845: In one instance, a financial institution loaned you $70,000 for two years at an APR of 6.75% for which you must make monthly payments. In a second instance, you loaned a financial institution $70,000 for two years at an APR of 6.75% compounded monthly. What is the difference in the amount of interest paid? (Round your answer to the nearest cent.)
Click here to see answer by Theo(13342)

Question 1118848: Over the past 40 years, interest rates have varied widely. The rate for a 30-year mortgage reached a high of 14.75% in July 1984, and it reached 4.64% in October 2010. A significant impact of lower interest rates on society is that they enable more people to afford the purchase of a home. In the following exercise, we consider the purchase of a home that sells for $125,000. Assume that we can make a down payment of $25,000, so we need to borrow $100,000. We assume that our annual income is $43,000 and that we have no other debt. Assume that property taxes plus insurance total $250 per month.
If we can afford to pay a monthly amount of $753.33, what is the difference in the amount we can borrow between the high and low rates mentioned above? (Round your answer to the nearest dollar.)
Click here to see answer by Theo(13342)

Question 1118846: In order to buy a new car, you finance $18,000 with no down payment for a term of five years at an APR of 3%. After you have the car for one year, you are in an accident. No one is injured, but the car is totaled. The insurance company says that before the accident, the value of the car had decreased by 25% over the time you owned it, and the company pays you that depreciated amount after subtracting your $500 deductible.
What is your monthly payment for this loan? (Round your answer to the nearest cent.)
Click here to see answer by Theo(13342)

Question 1119067: You are saving to buy a car, and you deposit $150 at the end of each month for two years at an APR of 4.8% compounded monthly. What is the future value for this savings arrangement? That is, how much money will you have for the purchase of the car after two years? (Round your answer to the nearest cent.)
Click here to see answer by ikleyn(52748)

Question 1119099: Clint's salary increased from $24,000 to $40,800 over a three-year period. Helen's salary increased from $29,000 to $49,300 over the same period. Whose salary increased more in absolute terms?
Click here to see answer by Boreal(15235)

Question 1119097: Use the savings plan formula to answer the following question.
Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 7 %. How much should you deposit monthly to accumulate $89,000 in 16 years?
Click here to see answer by ikleyn(52748)

Question 1119126: A man borrowed rs 500 from his friend and decided to return this amount in four equal installments of rs 150 each at the end of 3,6 and 9 months.Find the rate of simple interest per annum if the first installment is given in the beginning?
Click here to see answer by ikleyn(52748)

Question 1119121: Suppose a man is 25 years old and would like to retire at age 60. Furthermore, he would like to have a retirement fund from which he can draw an income of $100,000 per year--forever! How can he do it? Assume a constant APR of 8%.
He can have a retirement fund from which he can draw $100,000 per year by having $_______in his savings account when he retires.
Click here to see answer by ikleyn(52748)

Question 1119341: Hi
alex's savings are 20% more than joe's savings.If alex has $350.00 more than Joe,what is their total savings.
thanks
Click here to see answer by josgarithmetic(39613)

Question 1119120: Use the savings plan formula to answer the following question.
Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 7 %. How much should you deposit monthly to accumulate $89,000 in 16 years?
You should invest $_____each month.
Click here to see answer by Theo(13342)

Question 1119367: If Don Gecewicz invests $4000 at 5% interest compounded quarterly, find the amount after 3 years
Click here to see answer by Alan3354(69443)

Question 1119368: If don Gecewicz invests $6000 at 7% interest compounded quarterly, find the amount after 7 years

Click here to see answer by Alan3354(69443)

Question 1119371: Al travels in his motorboat downstream 12 miles with the current. He then turns around and heads back to the starting point going upstream against the current. The total time of his trip is 5 hours and the river current is 2 miles per hour. If during the entire trip he did not change speed, find the speed of the boat in still water
Click here to see answer by ikleyn(52748)

Question 1119370: Working together bob and dan complete a job in 6 hours. It would take Bob 9 hours longer than Dan to do the job alone. How long would it take Dan alone
Click here to see answer by ikleyn(52748)

Question 1119372: Al calculated the profit from his candy shop is given by the formula P=-10x^2+100x+300,where x is the number of units of candies sold daily. How many units should be sold for a profit of $460
Click here to see answer by solver91311(24713)

Question 1119382: A cash register contains only five dollar and ten dollar bills. It contains twice as many five's as ten's and the total amount of money in the cash register is 700 dollars. How many ten's are in the cash register?
Click here to see answer by ikleyn(52748)

Question 1119394: A bank loaned out $20,000
,
part of it at the rate of 6 %

per year and the rest at 14 %

per year. If the interest received in one year totaled $2000
,
how much was loaned at 6 % question mark
Click here to see answer by Theo(13342)

Question 1119409: sara invests $3000 in a mutual fund. on average the mutual fund earns 9%/yr compounded annually. how much interest can sara expect to earn after 10 yr
Click here to see answer by Theo(13342)

Question 1119426: An employee�s new salary is $16,275 after getting a 5% raise. What was the salary before the increase in pay?

Click here to see answer by Shin123(626)

Question 1119435: Suppose that $2000 is loaned at a rate of 11%, compounded semiannually. Assuming that no payments are made, find the amount owed after 5 years.
Do not round any intermediate computations, and round your answer to the nearest cent.
(thank you for your help)
Click here to see answer by stanbon(75887)

Question 1119549: Sally invested a certain amount of money at 5% and another amount twice as large at 6% interest. The total annual income from the investments was 4,250. Find the amount invested in each rate.
Click here to see answer by Theo(13342)

Question 1119587: How long will it take a $1,700.00 investment to earn $350.00 in interest if it is invested at 10% compounded quarterly.
Click here to see answer by ankor@dixie-net.com(22740)

Question 1119587: How long will it take a $1,700.00 investment to earn $350.00 in interest if it is invested at 10% compounded quarterly.
Click here to see answer by MathTherapy(10549)

Question 1119587: How long will it take a $1,700.00 investment to earn $350.00 in interest if it is invested at 10% compounded quarterly.
Click here to see answer by Alan3354(69443)

Question 1119616: Suppose that $5200 is invested at 3.5 % annual interest rate, compounded monthly. How much money will be in the account in (A) 3 months? (B) 13 years?
Click here to see answer by Boreal(15235)

Question 1119614: Four years after paying $3400 for shares in a startup company, you sell the shares for $1900 at a loss. What is the total return in percentage and what was the annual return in percentages?
Click here to see answer by Theo(13342)

Question 1119692: A pizza chain was willing to pay $1 to each person interviewed about his or her likes and dislikes of types of pizza crust. Of the people interviewed, 200 liked thin crust, 270 liked thick crust, 70 liked both, and 50 did not like either type of crust. What was the total cost of the survey?
Click here to see answer by ikleyn(52748)

Question 1119704: Find the coordinates of the vertex for the parabola defined by the given quadratic function.
f(x) = -x2 + 12x + 4
Click here to see answer by Boreal(15235)

Question 1119703: 1.Use the given conditions to write an equation for the line in the indicated form.
Passing through (3, 4) and perpendicular to the line whose equation is -2x+y-2=0
slope-intercept form?
2.Find and simplify the difference quotient {-f(x)+f(h+x)}/h, h different 0 for the given function.
f(x) = x2 + 4x - 5

Click here to see answer by Boreal(15235)

Question 1119727: As a result of a recent water and sewer system improvement, the city of Galena, Illinois, has an outstanding debt of $20,000,000. If the population of Galena is 3600 people, how much would each person have to contribute to pay off the outstanding debt?
Click here to see answer by ikleyn(52748)

Question 1119748: Jim received an inheritance of $15,000. If he wants to invest twice as much money in mutual funds as in bonds, how much should he invest in mutual funds?
Click here to see answer by Theo(13342)

Question 1119747: Denise purchased a new car selling for $26,000. Denise paid 30% as a down payment and financed the balance with a 60-month fixed installment loan with an APR of 5.0%.
a. Determine the down payment.
b. Determine the amount financed
c. Determine the finance charge
d. Determine the monthly payment

Click here to see answer by Theo(13342)

Question 1119746: James purchased a home selling for $89,900 with a 15% down payment. The period
of the
A) mortgage is 30 years, and the interest rate is 11.5% with no points. Determine:
B) amount of the down payment.
C) monthly payment of principal and interest.
D) amount of the first payment applied to the principal total cost of the house
E) total interest paid

Click here to see answer by Theo(13342)

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