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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 1131174: Find the time it would take for the general level of prices in the economy to double at an average annual inflation rate of 7.1%.
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Question 1131150: A carpenter earned $720 for a certain job. Her apprentice also earned $720, but the apprentice earned $6 less per hour and worked 10 hours more than the carpenter. How much did the carpenter earn per hour?
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Question 1131183: A man pays a $1000 debt by paying $100 at the end of each year plus 5% interest on the amount unpaid during that year. Find his total payment. (Problem based on chapter dealing with arithmetic progressions)
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Question 1131232: Tommy mows lawns and cleans pools during the summer. He earns $20 per lawn and $9 per pool . He needs $1500 to buy a car from his friend . If tommy plans to mow 41 lawns this summer, how many pools must he clean to earn at least $1500
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Question 1131238: A student's savings account has a balance of $5600 on September 1. Each month, the balance declines by $650. Let B be the balance (in dollars) at t months since September 1.

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Question 1131280: Jane has received $875 from her graduation party. She put the money in the bank with a 4% interest rate. How much interest will she have after 7 years
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Question 1131231:
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Question 1131332: Alvin borrowed $7,000 from his cousin to purchase a car at a simple interest rate of 4% How much interest will he owe his cousin after 3 years?
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Question 1131366: a sinking fund is established to obtain 75000 in five years.The interest rate is 10% and payments are made quarterly. Find the periodic payments
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Question 1131346: A group of friends are ordering food. The total amount that they can spend on their food bill is $41, including the delivery charge of $6. The equation below represents the situation, where x is the cost of each friend's meal.

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Question 1131490: A bank is offering a mutual fund with 10.3% average yearly growth rate. If the investment has been compounded annually and is now worth $9795.55, how much was the investment 5 years ago?
Thank you
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Question 1131499: Todd wants to start a business in 3 years. He figures that he will need $10 000 to start. One bank offers a term deposit with interest at 7%., compounded semi- annually. Another bank offers a GIC with interest at 12% compounded monthly. Which bank has the better offer for Todd to invest in? Explain.
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Question 1131488: Jack invested $1250 at 4% compounded semi-annually for 3 years. He then reinvested at 6% compounded quarterly for 5 more years. What will his investment be worth at the end of year 8 ?
Thanks :)
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Question 1131501: A loan at 14% interest compounded semi-annually must be repaid with one single payment of $1800 in 3 years. How much was the loan?
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Question 1131500: A $3000 investment earns simple interest at 8% for 48 months. What is the difference in interest earned if it was compounded annually at 8% instead?

Thanks
Click here to see answer by josmiceli(19441)

Question 1131558: if $1000 is invested at 5% compounded monthly, how much is there after 8 months?
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Question 1131557: i need some help on this one. i tried all the formula and i couldn't get the answer. If you want to have $3000 in 3 years how much do you need to place in as savings now that pays 5% compounded daily? round to the nearest cent.
Click here to see answer by josgarithmetic(39617)

Question 1131663: Last year, Greg opened an investment account with
$6600
. At the end of the year, the amount in the account had increased by
22.5%
. How much is this increase in dollars? How much money was in his account at the end of last year?

Click here to see answer by Alan3354(69443)

Question 1131666: investement of $8000 earns $520 in dividends. How much needs to be invested to earn $780 in dividends
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Question 1131647: A retired couple invested $18000 in bonds at a simple interest rate of 7.1%. At the end of one year, how much interest did they receive on their investment?

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Question 1131727: Marty has $5,200 saved for his college education. He invests the money at 2.7% compound interest. How much will his account balance be after 5 years? Show all of your work.
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Question 1131706: $1,030 at 4% compounded semiannually for 2 years
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Question 1131864: Phyllis invested $10,500, a portion earning a simple interest rate of 8 1/5% per year and the rest earning a rate of 8% per year. After one year the total interest earned on these investments was $858.00. How much money did she invest at each rate?
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Question 1131865: neha is trying to decide between two possible jobs. job a pays 3,750 dollars a month with a 2.5 percent annual raise. job b pays 46,000 dollars a year with a 1000 dollars annual raise.
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Question 1131869: Regina invested $150,000 in a small business at 15% compounded semi-annually for one year and 8 months.a.How much would the business have to repay Regina at the end of the period? (Ans: $190,891.30)b.How much interest did Regina earn from this investment over the period?

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Question 1131913: Find the amount accumulated after investing a principal P for t years at an interest rate r.
18) P = $ 1097.65 , t = 4 , r= 6% , compounded monthly (k = 12)
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Question 1131907: Margarita is hired by an accounting firm at a salary of $60,000 per year. Three years later her
annual salary has increased to $70,500. Assume that her salary increases linearly.
a. Find an equation that relates her annual salary S and the number of years t that she has
worked for the firm.
b. What do the slope and S-intercept of her salary equation represent?
c. What will her salary be after 12 years with the firm?

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Question 1131942: the student council is hosting an art exhibit for young artists. each artist must pay $33 for a display booth. Plus they must donate 5% of their total sales to the school. it costs the artists $6 in materials to make a painting that each sell for $15. write and solve an equation to find how many paintings the artists must sell in order to break even
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Question 1132024: James has invested $8000 into an account paying 6% interest compounded quarterly. How much will he earn in interest if she leaves the money in the account for 10 years?
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Question 1132026: I would like to know how to sketch the graph of y=2^sinx from 0 degrees to 360 degrees
I would really appreciate the help thank you!!
Click here to see answer by Alan3354(69443)

Question 1132025: I would like to know the following word problem,
The population ofToronto in 1980 was 60,000. In 1995 the population was 80,000. Determain when the population will reach 500,000.
It would be greatly appreciated if you can help me with this!
Click here to see answer by Boreal(15235)

Question 1132029: Billy invested $8,000 in a savings account paying 3.5% interest, compounded monthly. How much will Billy have after 12 years?
Click here to see answer by ikleyn(52781)

Question 1131504: Martha brought a $500,000.00 house, paying 10% down, and financing the rest at 5% interest compound monthly for 25 years. Find her monthly payments.
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Question 1132044: Bonnie invested $8000 for 6 years in a savings account paying simple interest with a yearly interest rate of 1.5%. How much simple interest did she earn?
A. $12
B. $72
C. $120
D. $720
Click here to see answer by MathLover1(20849)

Question 1132075: what is the meaning of the y-intercept in a cost function graph
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Question 1132121: There are 22 students on the debate team. The number of boys is two more than three times the number of girls. How many boys are on the team?
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Question 1132267: a grocer deposited a certain sum into a high-yield mutual fund that returns a 13% annual simple interest rate. A second deposit, $25,000 more than the first, was placed in a certificate of deposit that returns a 7% annual simple interest rate. The total interest earned on both investments for one year was $4750 How much money was deposited in the mutual fund?
Click here to see answer by ikleyn(52781)

Question 1132266: a university alumni association invested part of 200,000 in preferred stock that earns 8% annual simple interest, and the remainder in a municipal bond that earns 7% annual simple interest. The amount of interest earned each year is 15200. How much was invested in each account?a university alumni association invested part of 200,000 in preferred stock that earns 8% annual simple interest, and the remainder in a municipal bond that earns 7% annual simple interest. The amount of interest earned each year is 15200. How much was invested in each account?
Click here to see answer by ikleyn(52781)

Question 1132265: a review program costs Php 9665 and an advancement program costs Php 8000. the number of enrollees in the advancement program is 14 more than the number of enrollees in the review program. in the review program collection was P818,600, what is the total number of enrollees? (use only one variable) (if possible have so table, you can also don't have table :>) (thanks in advance)
Click here to see answer by ikleyn(52781)

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