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

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Question 1136898: Erik invests $6700 in two different accounts. The first account paid 2 %, the second account paid 8 % in interest. At the end of the first year he had earned $470 in interest. How much was in each account?

Click here to see answer by ikleyn(52747)

Question 1136896: A bank loaned out $20,500, part of it at the rate of 13% annual interest, and the rest at 8% annual interest. The total interest earned for both loans was $2,015.00. How much was loaned at each rate?
Click here to see answer by ikleyn(52747)

Question 1137004: A new car is purchased for 17000 dollars. The value of the car depreciates at 13.5% per year. What will the value of the car be, to the nearest cent, after 12 years?
Click here to see answer by MathLover1(20849)

Question 1137008: Hello, the questions is:
A bank pays 12% per annum on its savings accounts. At the end of every three years, a 2% bonus is paid on the balance at that time. Find the annual effective rate of interest earned by an investor if the deposit is withdraw in (a) 3 years (b) 4 years.
I started by noting that j1=12%=.12 and so to find the effective rate I made an equation, letting 1$ accumulate, and tried using .
I am very confused how to integrate the 2% bonus into the problem.
Click here to see answer by ankor@dixie-net.com(22740)

Question 1137010: An investor earned $1,662.50 on an investment of $70,000 in 95 days. Find the annual simple interest rate earned on the investment.
Click here to see answer by addingup(3677)

Question 1137065: A woman invests $39,000, part at 8% and the rest at 9.5% annual interest. If the 9.5% investment provides $467.50 more income than the 8% investment, how much is invested at each rate?
Click here to see answer by ikleyn(52747)

Question 1137106: madison started a bank account with $200. each year, she earns 5% in interest, which means in the account is multiplied by 1.05 each year.
a) what are the first three terms of this sequence?
b) write an equation to represent this sequence.
c) if madison does not withdraw money from her account, how much will she have in 10 years?
Click here to see answer by addingup(3677)

Question 1137118: Calculate the regular deposit needed to have $220,000 in an account after 25 years at 4% compounded monthly
Click here to see answer by ikleyn(52747)

Question 1137131: Colin invests £2900 into his bank account.
He receives 3% per year compound interest.
How much will Colin have after 4 years?
Give your answer to the nearest penny where appropriate

Click here to see answer by Theo(13342)

Question 1137123: Two bond funds pay interest at rates that differ by 2%. Money invested for one year in the first fund earns $550 interest. The same amount invested in the other fund earns $660. Find the lower rate of interest.
Click here to see answer by Theo(13342)

Question 1137064: An executive invests $25,000, some at 6% and the rest at 5% annual interest. If he receives an annual return of $1,440, how much is invested at each rate?
Click here to see answer by VFBundy(438)

Question 1137171: Second year students association has decided to deposit ugx 500,000 every month will realize 2% per month for the period of five years .how much would the deposit grow at the end of five years

Click here to see answer by ikleyn(52747)

Question 1137182: Colin invests £2350 into a savings account. The bank gives 4.2% compound interest for the first 4 years and 4.9% thereafter. How much will Colin have after 10 years to the nearest pound?
Click here to see answer by greenestamps(13195)

Question 1137193: a hospital revenue (in millions of dollars) is projected to be r(x)=9x^2+7x+81 and it costs (in millions of dollars) are projected to be c(x)=-2x^2-10x-14 where the x represent the numbers of years into the future
a. create a profit function for the hospital
b. what is the average rate of change in the profit from year 3 to year 5
Click here to see answer by jim_thompson5910(35256)

Question 1137212: Chris invests a total of $4,500 in two accounts. The first account earned a rate of return of 14% (after a year). However, the second account suffered a 5% loss in the same time period. At the end of one year, the total amount of money gained was $155.00. How much was invested into each account?
Click here to see answer by ikleyn(52747)

Question 1137271: Brian buys a computer for £3100.
It depreciates at a rate of 5% per year.
How much will it be worth in 5 years?
Give your answer to the nearest penny where appropriate.
please can you help me (I am stuck)
Click here to see answer by Theo(13342)

Question 1137474: I need help with this question please.
The price of gas, which started at $2.25 per gallon, increased at a rate of 4% per year.
Write the function that models the situation, substituting numerical values for A and r into the expression. Do not use the dollar symbol in the function.
f(x) = A(1+r)^x
Click here to see answer by josmiceli(19441)

Question 1137487: If a person invests $260 at 4% annual interest, find the approximate value of the investment at the end of 5 years?
Click here to see answer by ikleyn(52747)

Question 1137510: Brian invests £1800 into his bank account.
He receives 5% per year simple interest.
How much will Brian have after 3 years?
Give your answer to the nearest penny where appropriate.
Click here to see answer by MathLover1(20849)

Question 1137563: Monthly payments of $ 319.05 are made for 3 years to repay a loan at 7.6% compounded monthly.
Click here to see answer by Theo(13342)

Question 1137634: Lisa deposits $625 in an account that earns 4 percent interest compounded annually. How much money is in the account after 3 years?
Click here to see answer by ikleyn(52747)

Question 1137662: If an amount of money is invested at an annual interest rate of 6% it doubles every 12 years. How long would it take an investment of $500.00 to reach $2000.00 with no further contributions
Click here to see answer by greenestamps(13195)

Question 1137672: A bank loaned out $7,000, part of it at the rate of 12% annual interest, and the rest at 5% annual interest. The total interest earned for both loans was $455.00. How much was loaned at each rate?
Click here to see answer by ikleyn(52747)

Question 1137694: Nate borrows $300 to buy a smartphone. He is charged 5% simple interest per year.

How much interest, in dollars, will Nate pay after 2 years?
Click here to see answer by ikleyn(52747)

Question 1137759: A person makes annual payments of $5144 into an ordinary annuity. At the end of 9 years the amount in the annuity is $60,
000. What annual nominal compounding rate has this annuity earned?

Click here to see answer by Theo(13342)

Question 1137788: A group of students planned a picnic and estimated the expenditure to be
5,000. Five more students joined the group so the expenditure was increased
by 1,000, but the average expenses per student was decreased by -
10.
Find the total number of students who went for the picnic
Click here to see answer by josgarithmetic(39613)

Question 1137853: Peter hired a cleaning company to clean his house. The cleaning company charges a fixed fee of $15 plus $17 per hour to clean a house.
Write an equation that can be used to determine c, the total amount in dollars that the cleaning company charges to clean a house in h hours.
A second cleaning company charges $20 per hour to clean a house. The second company does not charge a fixed fee in addition to their hourly rate.
For what number of hours is the total amount charged for cleaning a house the same for both companies? Show or explain how you got your answer.

Click here to see answer by addingup(3677)

Question 1137900: Brian invests £1200 into a savings account. The bank gives 3% compound interest for the first 2 years and 5% thereafter. How much will Brian have after 6 years to the nearest pound?

Click here to see answer by dkppathak(439)

Question 1137979: if a certain firm invests $3000 at 5.75% annual interest compounded monthly. find the value of the investment in 6 years
Click here to see answer by Boreal(15235)

Question 1138035: To buy a computer, Tom borrowed $3000 at 9% simple interest calculated yearly if you will be making monthly payments for four years what is the amount of interest paid over four years what is the total amount to be paid back what is the monthly payment amount?
Click here to see answer by VFBundy(438)

Question 1138010: A pawnbroker loans Elisa #270. Seven days later, Elisa gets her bicycle back by paying the pawnbroker $289.50. What annual simple interest rate did the pawnbroker charge Elisa?
Click here to see answer by VFBundy(438)

Question 1138055: Shawna wants to buy a hat for $25.10. She gives the chashier $30. How much change does she receive.
Click here to see answer by josgarithmetic(39613)

Question 1138053: Shawna wants to buy a hat for $24.10. She gives the cashier $30. How much change does she receive?
Click here to see answer by josgarithmetic(39613)

Question 1138034: A student purchases a computer by obtaining a simple interest loan the computer cost 1500 and the interest rate of the loan is 12% if the loan is to be paid back in weekly installments over two years what is the amount of the interest paid over two years what is the total amount to be paid back and what is the weekly payment amount?
Click here to see answer by Theo(13342)

Question 1138100: brian invests £1500 in his bank account he receives 0.2% simple interest. how much will brian have after 6 years

Click here to see answer by ikleyn(52747)

Question 1138115: Katy invests in a total of $24,000 in two accounts. The first account earned a rate of return of 12% ( after a year). However, in the second account suffered a 8% loss in the same period. At the end of one year , the total amount of money gained was $-120.00. How much was invested into each account?
Click here to see answer by VFBundy(438)

Question 1138262: Robert earns P dollars in 8 days. At this rate how many days will it take him to earn S dollars?
Click here to see answer by rothauserc(4718)

Question 1138296: Carolynn bought a $5,400.00 car from Bill's Used Cars. What was her cost of credit if she had a 3 year loan at 4.8% interest?
Click here to see answer by Theo(13342)

Question 1138321: How quickly will money triple if it is invested at 7% interest compounded continuously?
Click here to see answer by MathLover1(20849)

Question 1138424: Calculate the simple interest on Rs 75000 deposited in a bank at the rate of 8.5% for 51/2 years.
Click here to see answer by josmiceli(19441)

Question 1138488: Jim invests some money for five years in an account at 4% simple interest per annum.
what is the percentage increase of investment at the end of five years?
Click here to see answer by Boreal(15235)

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