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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 1140099: Give the add-on interest rate: a $5,000 loan for one year at 6% APR with a monthly payment of $430.33
Click here to see answer by Theo(13342)

Question 1140097: 7. The value of a lathe originally valued at K3000 depreciates 15%per annum. Calculate its value after 4 years. The machine is sold when its value is less than K550. After how many years is the lathe sold? (hint : use GP)
8. On commencing employment a man is paid a salary of £7200 per annum and receives
annual increments of £350. Determine his salary in the 9th year and calculate the total
he will have received in the first 12 years.
9. A hire tool firm finds that their net return from hiring tools is decreasing by 10% per annum. If their net gain on a certain tool this year is £400, find the possible total of all future profits
from this tool (assuming the tool lasts for ever).
10. K1200 is invested at 12.5% simple interest. How much will have accrued after 3 years?
11. K10000 was compounded at 12.5% and amounted to K52015.80. How many years did it take?

Click here to see answer by Boreal(15235)

Question 1140165: John saves $3500 the first month and every month later decreases it by $75.
a) How much will John save in the 11th month?
b) How much will he save after two (2) years?
Click here to see answer by dkppathak(439)

Question 1140163: George invested $12550 for 5 years. After 5 years, he received a total amount of N$22500 from his investment. Calculate the annual rate at which interest was paid?
Click here to see answer by Theo(13342)

Question 1140162: Find the interest rate of an account that has $12500 that will give $450.00 interest in 72 months
Click here to see answer by Theo(13342)

Question 1140162: Find the interest rate of an account that has $12500 that will give $450.00 interest in 72 months
Click here to see answer by ikleyn(52781)

Question 1140164: Samuel saves two cents the first month and every later he doubles the amount. How much will he save after two years?

a) How much will Samuel save in the 9th month?
b) How much will he save after a year and half?
Click here to see answer by ikleyn(52781)

Question 1140175: Harry invests £5000 for 3 years
He gets a simple interest of 4% per yer
Work out the total interest Harry gets.
Would the answer be £600?
4 divided by 100= 0.04
15,000 times 0.04= 600
Click here to see answer by josgarithmetic(39617)

Question 1140188: Question Help
How long does it take for an investment to double in value if it is invested at
20% compounded continuously?
At 20% compound continuously, the investment doubles in about __ years.
Click here to see answer by rothauserc(4718)

Question 1140194: Question Help
After the release of radioactive material into the atmosphere from a nuclear power plant in a country in 1990, the hay in that country was contaminated by a radioactive isotope (half-life 5 days). If it is safe to feed the hay to cows when
15% of the radioactive isotope remains, how long did the farmers need to wait to use this hay?
__ days
Click here to see answer by josgarithmetic(39617)

Question 1140193: Question Help
The half-life of radium is 1690 years. If 80 grams are present now, how much will be present in 420 years?

Click here to see answer by ankor@dixie-net.com(22740)

Question 1140192: Question Help
The population of a colony of mosquitoes obeys the law of uninhibited growth. If there are 1000 mosquitoes initially and there are 1400 after 1 day, what is the size of the colony after
3 days? How long is it until there are 70,000 mosquitoes?
Click here to see answer by Theo(13342)

Question 1140206: A basketball team sells tickets that cost $10, $20, or, for VIP seats, $30. The team has sold 3203

tickets overall. It has sold 216

more $20 tickets than $10 tickets. The total sales are $61, 650
.
How many tickets of each kind have been sold?
Click here to see answer by MathLover1(20849)

Question 1140190: How many years will it take for an initial investment of $50,000 to grow to
$75,000? Assume a rate of interest of 9% compounded
continuously.
It will take about __ year for the investment to grow $75,000.
Click here to see answer by Alan3354(69443)

Question 1140269: Sam invested $2000, part of it at 6% and the rest at 8% yearly interest. The yearly income on the 8% investment was $20 more than twice the income from the 6% investment. How much did he invest at each rate?
Click here to see answer by ikleyn(52781)

Question 1140270: A dealer buys 50 apples for $40 and sells them for $1.20 each .calculate his percentage profit

Click here to see answer by ikleyn(52781)

Question 1140254: Find the present value of the following future amount.
$7000 at 10% compounded annually for 15 years
Click here to see answer by greenestamps(13200)

Question 1140256: The Giordanos buy $7200 worth of furniture for their new home. They pay $2000 down. The store charges 8% add-on interest. The Giordanos will pay off the furniture in 18 monthly payments (1 and one half
years). Find the monthly payment.
Click here to see answer by Boreal(15235)

Question 1140255: Suppose you buy an appliance costing $1650 at a store charging 14% add-on interest, you make a down payment of $ 800, and you agree to monthly payments over 4 years. Find the total cost for the appliance plus interest.
Click here to see answer by Boreal(15235)

Question 1140191: Strontium 90 is a radioactive material that decays according to the function
A(t)=A0e−0.0244t, where A0 is the initial amount present and A is the amount present at time t (in years). Assume that a scientist has a sample of
400 grams of strontium 90.
a) what is the decay rate of strontium 90?
b) how much strontium 90 is left after 40 years
c) when will only 300 grams of strontium 90 be left?
d) what is the half life of strontium 90?
Click here to see answer by Boreal(15235)

Question 1140161: Abram invests $15500 compound yearly; Rhoda N$17000 compound quarterly and Rauna a single amount of N$18500 (interest compounded semi-annually).
a) How much will each of them have after 10 years if the interest rate is 15% p.a.?
b) Determine the interest amount for each of them.
c) Which investment is the best?
Click here to see answer by Boreal(15235)

Question 1140258: How long (in years) will it take Michael Garbin to pay off a $3000 loan with monthly payments of $154.95 if the add-on interest rate is 7.8%?
Click here to see answer by Theo(13342)

Question 1140304: hire tool fim finds that their net return from hiring tools is decreasing by 10% per annum.if their net gain on a certain tool this year is £400.find the possible total of all future profits from this tool.
Click here to see answer by Boreal(15235)

Question 1140189: Jerome will be buying a used car for $7,000 in 3 years. How much money should he ask his parents for now so that, if he invests it at 8% compounded
continuously, he will have enough to buy the car?
Jerome should ask for $__
Click here to see answer by Boreal(15235)

Question 1140186: Find the amount that results from the given investment.
$50 invested at 7% compounded continuously after a period of
3 years.

After 3 years, the investment results in $___
Click here to see answer by Boreal(15235)

Question 1140228: The return that lenders require on their loaned funds is called the:
Click here to see answer by MathLover1(20849)

Question 1140346: A person ivested $6,700 for one year, part at 8%, part at 10%, and the remained at 12%. The total annual income from these investments was $716. The amount of money invested at 12% was $300 more than the amount invested at 8% and 10% combined. Let x is the amount of money invested at 8%, y is the amount of money invest at 10%, and z is the amount of money invested at 12%.
a. Write the linear system of equations that models the conditions of the problem.
b. Write the augmented matrix for the system of linear equations

Click here to see answer by greenestamps(13200)

Question 1140368: An individual earns an extra $2000 each year and places this money at the end of each year into an Individual Retirement Account (IRA) in which both the original earnings and the interest in the account are not subject to taxation. If the account has an annual interest rate of 10.3% compounded annually, how much is in the account at the end of 40 years? (Round your answer to the nearest cent.)

ANY AND ALL HELP IS APPRECIATED! :)
Click here to see answer by Theo(13342)

Question 1140367: Find the periodic payment for each sinking fund that is needed to accumulate the given sum under the given conditions. (Round your answer to the nearest cent.)
FV = $2,200,000, r = 2%, compounded weekly for 15 years
ANY AND ALL HELP IS APPRECIATED! :)
Click here to see answer by Theo(13342)

Question 1140160: john invested $20 000 on 1/06/2009 at 9% p.a. interest compounded monthly.
a) what is the value of the investment by 1/06/2019
b) If he only takes the interest earned on this investment on this date and invests this at 10.5% p.a. (compounded continuously), how much can he expect back by 1/06/2025
Click here to see answer by Boreal(15235)

Question 1140468: A sports shop buys tents for $260 less 25% for buying more than 30 tents. The store operates on a markup of 30% of the sale price and advertises that all items are sold at a discount of 20% of the regular price. What is the regular price of the tents?
Click here to see answer by Theo(13342)

Question 1140487: A Corporation has ending inventory of Br. 423,500, and cost of goods sold for the year just ended was Br. 2,365,450. What is the inventory turnover? How long on average did a unit of inventory sit on the shelf before it was sold?
Click here to see answer by ikleyn(52781)

Question 1140489: A company has a total debt ratio of .62. What is its debt-equity ratio? What is its equity multiplier?
Click here to see answer by ikleyn(52781)

Question 1140486: A company has a current accounts receivable balance of Br. 392,164. Credit sales for the year just ended were Br. 2,105,620. What is the receivables turnover? How long did it take on average for credit customers to pay off their accounts during the past year? (Assume 365 days in a year for this question)
Click here to see answer by ikleyn(52781)

Question 1140485: A company has sales of Br. 32 million, total assets of Br. 43 million, and total debt of Br. 9 million. If the profit margin is 7 percent, what is net income? What is ROA? What is ROE?
Click here to see answer by ikleyn(52781)

Question 1140490: A company has a profit margin of 7 percent, total asset turnover of 1.94, and ROE of 23.70 percent. What is this firm’s debt-equity ratio?
Click here to see answer by ikleyn(52781)

Question 1140484: A company has net working capital of Br. 1,050, current liabilities of Br. 4,300, and inventory of Br. 1,300. What is the current ratio? What is the quick ratio?
Click here to see answer by ikleyn(52781)

Question 1140481: A company had additions to retained earnings for the year just ended of Br. 275,000. The firm paid out Br. 150,000 in cash dividends from current earnings, and it has ending total equity of Br. 6 million. If the firm currently has 125,000 shares of common stock outstanding, what are earnings per share? Dividends per share? Book value per share? If the stock currently sells for Br. 95 per share, what is the market-to-book ratio? And, the price-earnings ratio?
Click here to see answer by ikleyn(52781)

Question 1140480: What is the present value of a perpetuity of Br. 100 per year if the appropriate discount rate is 7%? If interest rates in general were to double and the appropriate discount rate rose to 14%, what would happen to the present value of the perpetuity?
Click here to see answer by ikleyn(52781)

Question 1140509: Sam invested $2050, part of it at 6% and the rest at 8% yearly interest. The yearly income on the 8% investment was $54 more than twice the income from the 6% investment. How much did he invest at each rate?
Click here to see answer by ikleyn(52781)

Question 1140545: An airplane at cruising altitude descending for a landing. The function f(t)=33,600-1500t describes its altitude t minutes after starting it’s descen. What is the airplanes altitude after 10 minutes
Click here to see answer by Boreal(15235)

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