Tutors Answer Your Questions about Money Word Problems (FREE)
Question 1132311: a certain amount of money is invested at 9% per year. a second amount is Php50,000 larger than the first and is invested at 12% per year. the interest from the investment at the higher rate exceeds the income from the lower investment by Php13,500. find the investment at each rate. (show table if possible and use only 1 variable) (thanks in advance)
Click here to see answer by ikleyn(52775)  |
Question 1132368: to start a small business mr. tan borrowed a total of 50000 pesos from 2 banks the first bank charged him 10% annual interest and the 2nd bank 11% annual interest if the total interest for a year is 5200 pesos how much did he borrow from each bank?
Click here to see answer by greenestamps(13198)  |
Question 1132718: Jonathan has $3,500. He deposited part of the money in his savings account and part in his checking account. If the amount he deposited into his savings account is $800 more than twice the amount he deposited into his checking account, how much did he deposit into his checking account?
Click here to see answer by Boreal(15235)  |
Question 1132843: A company invests a total of $30,000 of surplus funds at two annual rates of interest: 4% and 6.75%. It wishes an annual yield of no less than 6.75%. What is the least amount of money that the company must invest at the 6.75% rate?
Click here to see answer by addingup(3677)  |
Question 1132843: A company invests a total of $30,000 of surplus funds at two annual rates of interest: 4% and 6.75%. It wishes an annual yield of no less than 6.75%. What is the least amount of money that the company must invest at the 6.75% rate?
Click here to see answer by ikleyn(52775)  |
Question 1132957: Compare the amounts at age 65 that would result from making an monthly deposit of $300 starting at age 16, or from making an monthly deposit of $1750 starting at age 50, to an RRSP that earns 3% interest per annum, compounded monthly. What is the total of the deposits in each situation? What should you do?
Click here to see answer by Boreal(15235)  |
Question 1132957: Compare the amounts at age 65 that would result from making an monthly deposit of $300 starting at age 16, or from making an monthly deposit of $1750 starting at age 50, to an RRSP that earns 3% interest per annum, compounded monthly. What is the total of the deposits in each situation? What should you do?
Click here to see answer by MathTherapy(10551)  |
Question 1133051: A club is creating a fund so that scholarships of $5000 can be paid out to the eligible students every year, for the next 20 years, starting next year. How much does the club need to invest today at 6.5% compounded annually?
Click here to see answer by Boreal(15235)  |
Question 1133060: Bob is saving money that he earns at his part time job. He deposits $100 at the end of each month into a saving account that pays interest at 3% , compounded monthly. Bob would like to know what his savings will be in the end of 1 year.
Click here to see answer by Olasko(10)  |
Question 1133060: Bob is saving money that he earns at his part time job. He deposits $100 at the end of each month into a saving account that pays interest at 3% , compounded monthly. Bob would like to know what his savings will be in the end of 1 year.
Click here to see answer by ikleyn(52775)  |
Question 1133083: Terry mother figures that she will need to have $200 000 at the end of 10 years. The retirement fund that she has chosen earns interest at 6% compounded semi-annually.
A) How much does she need to invest in the fund every six months?
B) how much interest will Terrys mother have earned over the course of her investment?
Click here to see answer by ikleyn(52775)  |
Question 1133059: Jane's grandmother figures that she will need to have $200,000 at the end of 10 years. The retirement fund that she has chosen earned interest at 6% compounded annually.
a) How much does she need to invest in the fund every six months?
b)How much interest will jane's grandmother have earned over the course of her investment?
Click here to see answer by ikleyn(52775)  |
Question 1133089: A group of workers won the lottery and will each walk away with $10 000. Fred, one of the workers, decides to spend some of the money and save the rest. He wants the money he saves to grow back into $10 000 in 7 years. He can invest the money at 5.5% compounded quarterly.
a) How much must he invest to meet his goal.
b) How much money can he afford to spend today?
(I have been working on this problem and i did get for R=4657.65 and i am not sure what they mean by part b.)
Click here to see answer by jim_thompson5910(35256) |
Question 1133089: A group of workers won the lottery and will each walk away with $10 000. Fred, one of the workers, decides to spend some of the money and save the rest. He wants the money he saves to grow back into $10 000 in 7 years. He can invest the money at 5.5% compounded quarterly.
a) How much must he invest to meet his goal.
b) How much money can he afford to spend today?
(I have been working on this problem and i did get for R=4657.65 and i am not sure what they mean by part b.)
Click here to see answer by addingup(3677)  |
Question 1133084: would extend trade credit to some customers that previously have been denied credit because they were considered poor risks. Sales are projected to increase by $120,000 per year if credit is extended to these new customers. Of the new accounts receivable generated, 6% are projected to be uncollectible. Additional collection costs are projected to be 5% of incremental sales, and production and selling costs are projected to be 80% of sales. Your firm expects to pay a total of 30% of its income after expenses in taxes.
1) Compute the incremental income after taxes that would result from these projections:
Click here to see answer by Theo(13342)  |
Question 1133119: Hannah has taken out a personal loan for $9000, which she will pay off with 60 monthly payments starting 1 month from now. The interest rate is 12.8% compounded monthly. Determine the total amount Hannah will pay over the 60 months?
Click here to see answer by rothauserc(4718)  |
Question 1133119: Hannah has taken out a personal loan for $9000, which she will pay off with 60 monthly payments starting 1 month from now. The interest rate is 12.8% compounded monthly. Determine the total amount Hannah will pay over the 60 months?
Click here to see answer by MathTherapy(10551)  |
Question 1133119: Hannah has taken out a personal loan for $9000, which she will pay off with 60 monthly payments starting 1 month from now. The interest rate is 12.8% compounded monthly. Determine the total amount Hannah will pay over the 60 months?
Click here to see answer by greenestamps(13198)  |
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