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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 1139548: $2,000 is deposited in a savings account at 4% interest compounded semi-annually. Find the balance after 7 years and the amount of interest earned during that time
Click here to see answer by josmiceli(19441)

Question 1139562: Engr. Sajise wants to buy a condominium that costs 20Million. She wants to pay it at the rate of 4% compounded monthly. If she will pay 200k per payment. How much is the accumulated amount of the condominium? Payments are made at the beginning of the month.
Click here to see answer by Theo(13342)

Question 1139561: Engr. Como decided to buy a townhouse amounting to 5 Million if paid today. He is been told that he is to pay this at the rate of 6% compounded semi-annually. If he is to pay 200k every six months. How long it will take for him to pay the townhouse fully if payments are made at the beginning of the month?
Click here to see answer by Theo(13342)

Question 1139582: If $1,000 is deposited for 6 years in a savings account earning 3.6% interest compounded monthly, how much interest is earned during the sixth year?
Click here to see answer by Theo(13342)

Question 1139580: Calculate the present value of $100,000 payable in 25 years at 2.4% interest compounded monthly
Click here to see answer by josmiceli(19441)

Question 1139627: The annual interest on an $11,000 investment exceeds the interest earned on an $8000 investment by $347. The $11,000 is invested at a 0.7% higher rate of interest than the $8000. What is the interest rate of each investment?

Click here to see answer by greenestamps(13198)

Question 1139585: Compute the future value after one year for $100 invested at 4% interest compounded quarterly. what simple interest rate will yield the same amount in one year
Click here to see answer by Theo(13342)

Question 1139659: Sydney buys a new car for $22,000 and finances the car for 5 years at 3% interest
compounded yearly. She estimates that the value of the car will decrease by 14% each
year. If Sydney is able to sell the car on the day of her last car payment for the value she
estimated, how much money will she have spent over the 5 years?

Click here to see answer by josmiceli(19441)

Question 1139719: Mr. Ferrier invested $26,000. Some was invested in bonds that made a 5% profit, and the rest was put into stocks that made an 8% profit. How much did Mr. Ferrier invest in bonds if his total profit on both types of investments was $1,420?
Click here to see answer by ikleyn(52775)

Question 1139782: Find the present value of $3,000 in 10 years at 2% simple interest
Click here to see answer by josmiceli(19441)

Question 1139782: Find the present value of $3,000 in 10 years at 2% simple interest
Click here to see answer by MathTherapy(10551)

Question 1139787: Determine the simple interest rate at which $980 grows to $1,000 in 6 months
Click here to see answer by Edwin McCravy(20054)

Question 1139820: $100,000 is invested in stocks and bonds. bonds earn 4%, and stocks earn 7%. if the combination of investments earns 6.2%, how much was invested each in bonds and stock?
Click here to see answer by greenestamps(13198)

Question 1139829: A new car costs $21,000 depreciates to 75% of its value in 4 years. Round all answers to 2 decimal places, where necessary.
a). Assume that the depreciation is linear. What is the linear function that models the value of this car ,t,
years after purchase?
b). Assume that the value of the car is given by an exponential function Ae^kt where A is the initial price of the car. Find the value of the constant k. Answer exactly.
c). For the linear model used in part (a), find the value of the car 6 years after the purchase, then do the same for the exponential model used in part (b).Round your answer to 2 decimal places.
Click here to see answer by Theo(13342)

Question 1139850: Calculate the future value of the increasing annuity
At the end of each quarter year for 6 years 1200 is deposited into an investment paying 3.4% interest compounded quarterly
Click here to see answer by ikleyn(52775)

Question 1139828: An initial deposit is made in a bank account. Find the interest rate, r , if the interest is compounded continuously and no withdrawals or further deposits are made. Round to the nearest hundredth of a percent.
Initial Amount: $3,500
Amount in 5 years: $5,100
Click here to see answer by jim_thompson5910(35256)

Question 1139794: what is the brokerage fee for 100 shares of stock at 42.75 per share
Click here to see answer by Alan3354(69443)

Question 1139803: How many years are required for $500 to grow to $800 at 1.5% simple interest
Click here to see answer by ikleyn(52775)

Question 1139889: if i have the choice of the following methods of payment how much would i have to earn in sales to get the same pay regardless of the option chosen and when would i be better off in option A?
Payment Method A: A retainer of $250 per week plus 2.5% of sales.
Payment Method B: No retainer but 3.5% of sales.

Click here to see answer by Theo(13342)

Question 1139906: 1. Michael is saving money to buy a car He takes $3,000 to the bank and opens a 2 year certificate of deposit (CD) upon which the bank agrees to pay him 2% simple interest what will be the future value after the 2 year period.
Click here to see answer by Theo(13342)

Question 1139894: An investment of $130 comma 000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned 8% interest, the second 6%, and the third 9%. Total interest from the investments was $ 9540. The interest from the first investment was 2 times the interest from the second. Find the amounts of the three parts of the investment.
Click here to see answer by Theo(13342)

Question 1139827: How long will it take for $2,800 to double if it is invested at 12% annual interest compounded 6 times a year? Enter in exact calculations or round to 3 decimal places.
a. How long will it take if the interest is compounded continuously?
Click here to see answer by Boreal(15235)

Question 1139947: Mortgage:James buys a house with $370,000 he put $70,000 down and then finances the rest at 6.3% interest compounded monthly for 25 years
find the monthly payment, findthe total amount he pays for the house, find the total amount of Interest he pays
Click here to see answer by josmiceli(19441)

Question 1139939: what will be the present value of my cost of 4yrs education when I turn 18yrs in 5yrs time if my current education cost is $12500 per year and is expected to remain constant for four years and I am 13yrs now.
Click here to see answer by Theo(13342)

Question 1139884: An investment of $130 comma 000 was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned 8% interest, the second 6%, and the third 9%. Total interest from the investments was $ 9540. The interest from the first investment was 2 times the interest from the second. Find the amounts of the three parts of the investment.
The first part of the investment was $
nothing.
Click here to see answer by ankor@dixie-net.com(22740)

Question 1139848: Calculate the future value of the increasing annuity:
At the end of each quarter year,for 6 years $1,200 is deposited into an investment paying 3.4% interest compounded quarterly
Click here to see answer by Theo(13342)

Question 1139951: Refinancing a mortgage: A real estate Speculator purchases a tract of land for $1000000 and assumes a 25 year mortgage at 4.2% interest compounded monthly
What is his monthly payment?
Click here to see answer by Theo(13342)

Question 1139970: At a basketball game a vender sold a combined total of 105 sodas and hot dogs. The number of sodas sold was two times the number of hot dogs sold. Find the number of sodas and hot dogs sold
Click here to see answer by josgarithmetic(39616)

Question 1140001: Dilbert invests a total of $20,000 in two accounts paying 10% and 2% annual interest, respectively. How much was invested in each account if, after one year, the total interest was $1,040.00.

Click here to see answer by math_helper(2461)

Question 1140029: At what rate do you need to invest money into a bank account earning continuously compounded interest if you want to double your money in 62 months?
Click here to see answer by Theo(13342)

Question 1140031: A landscape architect wished to enclose a rectangular garden on one side by a brick wall costing $20/ft and on the other three sides by a metal fence costing $10/ft. If the area of the garden is 122 square feet, find the dimensions of the garden that minimize the cost.
Click here to see answer by math_helper(2461)

Question 1140050: f Delaney walks 2 miles in 50 minutes, then Delaney will walk how far in 80 minutes if she walks at the same speed the whole time? If necessary, round your answer to the nearest tenth of a mile.
Click here to see answer by josgarithmetic(39616)

Question 1140048: Find the unit price. If necessary, round your answer to the nearest cent. You would enter an answer like $0.49/pound, the value (like 0.49) in the first box and the appropriate unit (like pound) in the second box. 8 pints for $3.89
Click here to see answer by josgarithmetic(39616)

Question 1140049: Suppose you work for a large coffee distributor that has a secret coffee blend it sells to local stores. You mix the House blend with the Rift Valley blend, but always in the same proportion. Yesterday, you mixed 50 pounds of the House blend with 20 pounds of the Rift Valley blend. Today, there is 20 pounds of the House coffee left in stock. How many pounds of the Rift Valley coffee should you mix with it to get your secret blend?

Click here to see answer by ikleyn(52775)

Question 1140047: Find the amount of tax and the tax rate. Round to two decimal places. Cost of item: $99. Selling price: $107.52

Click here to see answer by greenestamps(13198)

Question 1140043: Please help me solve this problem .. Claudia invested $360 in a 3 year CD that pays out 6 percent compounded quarterly. What is the compound interest after 8 years
Click here to see answer by greenestamps(13198)

Question 1140042: Please help me solve this problem .. Claudia invested $360 in a year CD that pays out 6 percent compounded quarterly. What is the compound interest after 8 years
Click here to see answer by greenestamps(13198)

Question 1139980: Martin purchased some municipal bond yielding 12 perent annually and some certifiates of deposit yielding 12 perent annually If Martin's total investment amounts to £17806.60 and the annual income is £2252.92, how much money is invested in bonds and how much is invested in certifiates of deposit?
This word problem has been making me scratch my head a lot, so can someone help me solve it? thanks in advance.
Click here to see answer by greenestamps(13198)

Question 1140028: You deposit $4000 into an account that earns 5% compounded annually. A friend deposits $3750 into an account that earns 4.95% annual interest, compounded continuously. Will your friend's balance ever equal yours? If so, when?
Click here to see answer by Theo(13342)

Question 1140030: 1) A manufacture has been selling 1650 television sets a week at $540 each. A market survey indicates that for each $13 rebate offered to a buyer, the number of sets sold will increase by 130 per week.
a) Find the function representing the demand p(x), where x is the number of the television sets sold per week and p(x) is the corresponding price.
p(x)=

b) How large rebate should the company offer to a buyer, in order to maximize its revenue?
dollars
c) If the weekly cost function is 148500+180x, how should it set the size of the rebate to maximize its profit?
Click here to see answer by Theo(13342)

Question 1140078: You are in the 35% tax bracket. The apartment rents for $1800 per month. Your monthly mortgage payments would be 2100, of which an average of $1900 per month goes toward interest during the first year. Determine whether renting or buying is cheaper in terms of monthly payments during the first year. Assume you are itemizing deductions.
Click here to see answer by Boreal(15235)

Question 1140077: A real estate Speculator purchases a tract of land for $1000000 and assumes a 25 year mortgage at 4.2% interest compounded monthly.
suppose that after five more years the mortgage is required to be paid in full.How much will then be due?
Click here to see answer by Theo(13342)

Older solutions: 1..45, 46..90, 91..135, 136..180, 181..225, 226..270, 271..315, 316..360, 361..405, 406..450, 451..495, 496..540, 541..585, 586..630, 631..675, 676..720, 721..765, 766..810, 811..855, 856..900, 901..945, 946..990, 991..1035, 1036..1080, 1081..1125, 1126..1170, 1171..1215, 1216..1260, 1261..1305, 1306..1350, 1351..1395, 1396..1440, 1441..1485, 1486..1530, 1531..1575, 1576..1620, 1621..1665, 1666..1710, 1711..1755, 1756..1800, 1801..1845, 1846..1890, 1891..1935, 1936..1980, 1981..2025, 2026..2070, 2071..2115, 2116..2160, 2161..2205, 2206..2250, 2251..2295, 2296..2340, 2341..2385, 2386..2430, 2431..2475, 2476..2520, 2521..2565, 2566..2610, 2611..2655, 2656..2700, 2701..2745, 2746..2790, 2791..2835, 2836..2880, 2881..2925, 2926..2970, 2971..3015, 3016..3060, 3061..3105, 3106..3150, 3151..3195, 3196..3240, 3241..3285, 3286..3330, 3331..3375, 3376..3420, 3421..3465, 3466..3510, 3511..3555, 3556..3600, 3601..3645, 3646..3690, 3691..3735, 3736..3780, 3781..3825, 3826..3870, 3871..3915, 3916..3960, 3961..4005, 4006..4050, 4051..4095, 4096..4140, 4141..4185, 4186..4230, 4231..4275, 4276..4320, 4321..4365, 4366..4410, 4411..4455, 4456..4500, 4501..4545, 4546..4590, 4591..4635, 4636..4680, 4681..4725, 4726..4770, 4771..4815, 4816..4860, 4861..4905, 4906..4950, 4951..4995, 4996..5040, 5041..5085, 5086..5130, 5131..5175, 5176..5220, 5221..5265, 5266..5310, 5311..5355, 5356..5400, 5401..5445, 5446..5490, 5491..5535, 5536..5580, 5581..5625, 5626..5670, 5671..5715, 5716..5760, 5761..5805, 5806..5850, 5851..5895, 5896..5940, 5941..5985, 5986..6030, 6031..6075, 6076..6120, 6121..6165, 6166..6210, 6211..6255, 6256..6300, 6301..6345, 6346..6390, 6391..6435, 6436..6480, 6481..6525, 6526..6570, 6571..6615, 6616..6660, 6661..6705, 6706..6750, 6751..6795, 6796..6840, 6841..6885, 6886..6930, 6931..6975, 6976..7020, 7021..7065, 7066..7110, 7111..7155, 7156..7200, 7201..7245, 7246..7290, 7291..7335, 7336..7380, 7381..7425, 7426..7470, 7471..7515, 7516..7560, 7561..7605, 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, 14356..14400, 14401..14445, 14446..14490, 14491..14535, 14536..14580, 14581..14625, 14626..14670, 14671..14715, 14716..14760, 14761..14805, 14806..14850, 14851..14895, 14896..14940, 14941..14985, 14986..15030, 15031..15075, 15076..15120, 15121..15165, 15166..15210, 15211..15255, 15256..15300, 15301..15345, 15346..15390, 15391..15435, 15436..15480, 15481..15525, 15526..15570, 15571..15615, 15616..15660, 15661..15705, 15706..15750, 15751..15795, 15796..15840, 15841..15885, 15886..15930, 15931..15975, 15976..16020, 16021..16065, 16066..16110, 16111..16155, 16156..16200, 16201..16245, 16246..16290, 16291..16335, 16336..16380, 16381..16425, 16426..16470, 16471..16515, 16516..16560, 16561..16605, 16606..16650, 16651..16695, 16696..16740, 16741..16785, 16786..16830, 16831..16875, 16876..16920, 16921..16965, 16966..17010, 17011..17055, 17056..17100, 17101..17145, 17146..17190, 17191..17235, 17236..17280, 17281..17325, 17326..17370, 17371..17415, 17416..17460, 17461..17505, 17506..17550, 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