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

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Question 1135905: Hello
I'm having a little bit of trouble with this question.
For the following example, prorate the given expenses to find the monthly cost.
Sara pays $4500 for tuition and fees for each of the two semesters, plus an additional $400 for textbooks each semester.
The prorated monthly cost for tuition and fees and textbooks is ? (round to the nearest doll as needed)
Thank you
Click here to see answer by MathLover1(20849)

Question 1135947: How long does it take an investment of R10 000 to double if it is invested at 8% p.a. compounded annually?
Click here to see answer by Theo(13342)

Question 1135949: At an opening sale you buy a refrigerator for which you have to pay R4 000 in a year’s time. Six months
later you receive a bonus of R2 500 and immediately use it as a payment on the refrigerator. The payment
receives interest at a rate of 9% per year, compounded quarterly.
Click here to see answer by Theo(13342)

Question 1135950: small business invests R10 000 at the end of each month in an account that earns 6% p.a. compounded
monthly. How long will it take until the business has R1 000 000 toward the purchase of its own office
building? (Round your answer up to the next integer)
Click here to see answer by Theo(13342)

Question 1135992: Heather is a cashier. She can ring up 12 customers in 9 minutes.
At this rate, how many minutes does it take her to ring up 4 customers?
Click here to see answer by ikleyn(52754)

Question 1135991: Heather is a cashier. She can ring up 121212 customers in 999 minutes.
At this rate, how many minutes does it take her to ring up 444 customers?
Click here to see answer by ikleyn(52754)

Question 1135999: Phyllis invested
35000
35000
dollars, a portion earning a simple interest rate of
4
4
percent per year and the rest earning a rate of
6
6
percent per year. After one year the total interest earned on these investments was
1800
1800
dollars. How much money did she invest at each rate
Click here to see answer by ikleyn(52754)

Question 1136059: In order to purchase a home, a family borrows $70,000 at 12% for 15 years. What is the monthly payment?

Click here to see answer by Theo(13342)

Question 1136206: You guessed the height of the building to be 23 feet, but it was actually 35 feet. Hahahahaha hat was your percent error? Round to the nearest WHOLE percent.
Click here to see answer by ikleyn(52754)

Question 1136205: You used a 35% coupon and purchased a skateboard for $55.25. What was your he original price of the skateboard?
Click here to see answer by ikleyn(52754)

Question 1136204: You received some inheritance from your great grandparents. You invested the money for 4 years at a 6% rate. If you received $2,160 in interest, how much was the inheritance?
Click here to see answer by ikleyn(52754)

Question 1136131: The admission fee at an amusement park is $20 for children and $35 for adults. On a certain day, 320 people entered the park, and the admission fees collected totaled $8500. How many children and how many adults were admitted?
Click here to see answer by josgarithmetic(39613)

Question 1136277: On Monday, Sam withdrew $80 from his bank account. On Tuesday, his pay of $350 was deposited into the account and he also deposited $40 that he had received for his birthday. On Thursday, Sam used the account to pay a $120 bill online, and on Friday he withdrew $50 from an ATM. How much more or less money did Sam have compared to the start of the week?
Click here to see answer by josgarithmetic(39613)

Question 1136312: In five years, the company plans to undertake a major upgrade to its servers and other IT infrastructure. Management estimates that it will need up to $450,000 to cover all related costs; however, as a fairly young company, the goal is to pay for the upgrade with cash and not to take out loans. Right now, you have $300,000 in a bank account established for Capital Investments. This account pays 4% interest, compounded annually. A member of the finance department has approached you with an investment opportunity for the $300,000 that covers a five-year period and has the following projected after-tax cash flows:
Year 1 Year 2 Year 3 Year 4 Year 5
90,000 115,000 135,000 110,000 90,000
How much money will be in the bank account if you leave the $300,000 alone (earning 4% compounded
interest) until you need it in five years?
Click here to see answer by Theo(13342)

Question 1136314: A man invested Php 1000,000. he put part of it in a bank at 5% interest. On the other hand, he invested the remainder in bonds with a 9% yearlyvreturn. How much did he put in the bank if his yearly income from the two investments was Php 7, 400?
Click here to see answer by ikleyn(52754)

Question 1136337: Frieda sells T-shirts at a market. If she charges R50 per shirt she sells 26 shirts per day. if she charges R80 per shirt she sells only 11 shirts per day. let x represent the price of a T-shirt and let y represent the number of T-shirts that is sold per day. If the number of T-shirts sold is dependent on the price asked, the function describing this linear relationship.
Click here to see answer by josgarithmetic(39613)

Question 1136369: You are the General Manager at the Bicker, Slaughter, and Lynch Law Firm. There is an opportunity to buy
out a small law firm that was just started by a young MBA/JD, and you believe the firm can be grown and
become a lucrative part of your Firm. With help from your finance leader, you have estimated the following
benefit streams for this new division:
• You estimate that the purchase price for this firm would be $200,000 and that additional net working
capital would be needed in the amount of $60,000 in year 0, an additional $15,000 in year 2 and then
$15,000 in year 5.
• BSL usually spend about $275,000 per year in advertising. If you make this acquisition, you would
ask that advertising spending be increased by an incremental one-time amount of $50,000 in year 0
to publicize the firm’s expansion.
• Your finance leader has indicated that the firm has access to a credit line and could borrow the funds
at a rate of 6%. He also mentions that when he runs project economics for capital budgeting (such
as a new copier or a company car), he recommends a standard 10% rate discount, but the one other
time they looked at an acquisition of a smaller firm, he used a 12% rate discount. Obviously you will
want to select the most appropriate discount rate for this type of project.
• At the end of 8 years, the plan is to sell this division. The estimated terminal value (the sale and the
return of working capital) is conservatively estimated to be $400,000 of after-tax cash flow help.
Click here to see answer by ikleyn(52754)

Question 1136367: • You estimate that the purchase price for this firm would be $200,000 and that additional net working
capital would be needed in the amount of $60,000 in year 0, an additional $15,000 in year 2 and then
$15,000 in year 5.
• BSL usually spend about $275,000 per year in advertising. If you make this acquisition, you would
ask that advertising spending be increased by an incremental one-time amount of $50,000 in year 0
to publicize the firm’s expansion.
• Your finance leader has indicated that the firm has access to a credit line and could borrow the funds
at a rate of 6%. He also mentions that when he runs project economics for capital budgeting (such
as a new copier or a company car), he recommends a standard 10% rate discount, but the one other
time they looked at an acquisition of a smaller firm, he used a 12% rate discount. Obviously you will
want to select the most appropriate discount rate for this type of project.
• At the end of 8 years, the plan is to sell this division. The estimated terminal value (the sale and the
return of working capital) is conservatively estimated to be $400,000 of after-tax cash flow help
Click here to see answer by ikleyn(52754)

Question 1136366: Calculate the Nominal Payback, the Discounted Payback, the Net Present Value and the IRR for each
scenario assuming:
A. Arnold (A) recommends using the base assumptions above: 3 year project life, flat annual savings,
10% discount rate.
B. Betty (B) recommends savings that grow each year: 3 year project life, 10% discount rate and a 10%
compounded annual savings growth in years 2 & 3. In other words, instead of assuming savings stay
flat, assume that they will grow by 10% in year 2, and then grow another 10% over year 3 in year.
C. Clarence (C) believes we use a higher Discount Rate because of the risk of this type of project: 3
year project life, flat annual savings, 15% discount rate.
D. Delores (D) is convinced the machine will last longer than 3 years. He recommends using a 5 Year
Equipment Life: 5 year project and savings life, flat annual savings, 10% discount rate. In other
words, assume that the machine will last 2 more years and deliver 2 more years of savings.
Click here to see answer by ikleyn(52754)

Question 1136368: The CEO of Dynamic Manufacturing was at a conference and talked to a supplier about a new piece of equipment for its production process that she believes will produce ongoing cost savings. As the Operations Manager, your CEO has asked for your perspective on whether or not to purchase the machinery.
After talking to the supplier and meeting with your Engineers and Financial Analysts, you’ve gathered the following pieces of data:
• Cost of Machine: $145,000 • Estimated Annual After Tax Cash Flow Savings: $60,000 (which may or may not grow)
• Estimated machinery life: 3-5 years (after which there will be zero value for the equipment and no further cost savings)
• You seem to recall that Dynamic’s Finance organization recommends either a 10% or a 15% discount rate for all Cost Savings Projects

Click here to see answer by ikleyn(52754)

Question 1136365: The CEO of Dynamic Manufacturing was at a conference and talked to a supplier about a new piece of
equipment for its production process that she believes will produce ongoing cost savings. As the Operations
Manager, your CEO has asked for your perspective on whether or not to purchase the machinery.
After talking to the supplier and meeting with your Engineers and Financial Analysts, you’ve gathered the
following pieces of data:
• Cost of Machine: $145,000
• Estimated Annual After Tax Cash Flow Savings: $60,000 (which may or may not grow)
• Estimated machinery life: 3-5 years (after which there will be zero value for the equipment and no
further cost savings)
• You seem to recall that Dynamic’s Finance organization recommends either a 10% or a 15%
discount rate for all Cost Savings Projects
Click here to see answer by ikleyn(52754)

Question 1136311: In five years, the company plans to undertake a major upgrade to its servers and other IT infrastructure. Management estimates that it will need up to $450,000 to cover all related costs; however, as a fairly young company, the goal is to pay for the upgrade with cash and not to take out loans. Right now, you have $300,000 in a bank account established for Capital Investments. This account pays 4% interest, compounded annually. A member of the finance department has approached you with an investment opportunity for the $300,000 that covers a five-year period and has the following projected after-tax cash flows:
Year 1 90,000 Year 2 115,000 Year 3 135,000, Year 4 110,000, Year 5 90,000

Click here to see answer by ikleyn(52754)

Question 1136428: Jerry invested $2000, part at 4% interest and the remainder at 9%. His yearly
income from the 9% investment is $37 more than his income from the 4%
investment. How much did he invest at each rate?
I am looking for two equations, one for interest and one for principle?
Click here to see answer by Boreal(15235)

Question 1136443: A fund returned 13.8% interest compounded monthly. How much would an investment of $4000 be worth after 4 years?

Click here to see answer by ikleyn(52754)

Question 1136490: Devon purchased tickets to an air show
Click here to see answer by ikleyn(52754)

Question 1136507: If 15 men , woking 9 hours a day, can reap a field in 16 days , in how many days will 18 men reap the field , working 8 hours a day ?
Click here to see answer by ankor@dixie-net.com(22740)

Question 1136508: Zuzu sold his dining table set at a loss of 20% .If she had sold it for $800 more , he would have received a profit of 5% .Find the cost price.
Click here to see answer by Theo(13342)

Question 1136506: The monthly salaries of Amanda and Zizipho are in the ratio 3:5.If each receives an increase of R200 in salary , the ratio is altered to 13:21.Determine the monthly salaries of Amanda and Zizipho.
Click here to see answer by Theo(13342)

Question 1136554: Four packs of sandwiches and five drinks cots £10.60.If one drink costs 80p,how much is each sandwich?
Click here to see answer by MathLover1(20849)

Question 1136570: Natalie has $700 in the back that she got for her birthday yesterday. She withdraws $35 every week. If she wants atleast $125 left, hoe many weeks can she withdraw from the account?
Click here to see answer by addingup(3677)

Question 1136637: If you take out a loan at 9% interest rate for 5 years, and the interest you ow is $10,350, what was the original amount of this loan?

Click here to see answer by ikleyn(52754)

Question 1136710: Brent Pickett borrowed $8000 from his brother Dave. He agreed to repay the money at the end of 4 years, giving Dave the same amount of interest that he would have received if the money had been invested at 1.75% compounded quarterly. How much money did Brent repay his brother?
Click here to see answer by ikleyn(52754)

Question 1136738: Lia opened a savings account and deposited $500.00. The account earns 8% interest, compounded continuously. If she wants to use the money to buy a new bicycle in 1 year, how much will she be able to spend on the bike?
How would you solve it step by step?

Click here to see answer by Theo(13342)

Question 1136709: Felix is purchasing a brownstone townhouse for $2,900,000. To obtain the mortgage, Felix is required to make a 19% down payment. Felix obtains a 25-year mortgage with an interest rate of 5.5%.
a) Determine the amount of the required down payment.
b) Determine the amount of the mortgage.
c) Determine the monthly payment for principal and interest.
Click here to see answer by Boreal(15235)

Question 1136750: AT AGE 25, TO SAVE FOR RETIREMENT, YOU DECIDE TO DEPOSIT $75 INTO AN IRA AT THE END OF EACH MONTH AT AN INTEREST RATE OF 6.5% PER YEAR COMPOUNDED DAILY. HOW MUCH WILL YOU HAVE FROM THE IRA WHEN YOU RETIRE AT AGE 65? FIND THE INTEREST.
Click here to see answer by Theo(13342)

Question 1136833: If 119 people attend a concert and tickets for adults cost $4 while tickets for children cost $3.25 and total receipts for the concert was $431.75, how many of each went to the concert?

Click here to see answer by MathLover1(20849)

Question 1136861: Mr. X has planned to deposit Tk 500,000 with a bank @ 12% interest for 10 years. Calculate the total
amount Mr. X will get after 10 years considering compound in every year.

Click here to see answer by ikleyn(52754)

Question 1136875: kane and abel start a business investing Rs 7 lakh and Rs 9 lakh respectively. At the end of a year, they make a profit of Rs 320000. How should they divided this amount ?
Click here to see answer by ikleyn(52754)

Question 1136897: The admission fee at an amusement park is $1.25 for children and $4.80 for adults. On a certain day, 234 people entered the park, and the admission fees collected totaled 683 dollars. How many children and how many adults were admitted?

Click here to see answer by rothauserc(4718)

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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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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