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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 1140535: Andrea wants to invest $2,000 at her bank. She picks an annual certificate of deposit that will pay her 3% interest each year.
Click here to see answer by ikleyn(52747)

Question 1140582: I need help with this homework. A businessman has invested Php100,000 at 8% and Php150,000 at 12% simple interest. At what rate must he invest Php200,000 for him to earn 10% overall?
Thank you in advance.
Click here to see answer by ikleyn(52747)

Question 1140637: Dale has $2,000 to invest. He has a goal to have $5,600 in this investment in 12 years. At what annual rate compounded continuously will Dale reach his goal?
Click here to see answer by greenestamps(13195)

Question 1140640: Bob, Celia, and Daniel contributed money to buy their boss a retirement gift. Sam and Daniel each gave the same amount of money. Celia gave $12 more than Daniel. Bob gave half as much as Celia gave. If the four workers gave a total of $81, how much did Sam give?
Click here to see answer by ikleyn(52747)

Question 1140633: If two rates, r1 compounded m1 times a year and r2 compounded m2 times per year are to be equivalent, find the interest rate compounded quarterly which is equivalent to 10% interest rate compounded annually. Thank you so much.
Click here to see answer by ikleyn(52747)

Question 1140635: Anne deposited 20,000 in a bank paying 6% compounded quarterly during the first two years, 8% compounded semi-annually for the next 2 and a half years, and 12% compounded monthly for the last 3 and a half years. How much would she have in her account by the end of 8 years, assuming withdrawals are made? Thank you so much.
Click here to see answer by ikleyn(52747)

Question 1140643: Bob, Celia, Sam, and Daniel contributed money to buy their boss a retirement gift. Sam and Daniel each gave the same amount of money. Celia gave $12 more than Daniel. Bob gave half as much as Celia gave. If the four workers gave a total of $81, how much did Sam give?
Click here to see answer by josgarithmetic(39613)

Question 1140632: There are two companies looking for salesman. Company A pays a weekly salary of 4000, and a commission of 14.5% on sales. Company B pays a straight commission of 30% of sales. Both companies expect the salesman to have sales of 40,000 in the first month and reach sales of 200,000 at the end of six months. Find the estimated earnings after a month and estimated earnings after 6 months for both companies and determine which will give a better pay.
Thank you very much.
Click here to see answer by Boreal(15235)

Question 1140754: Suppose Sipho earns 25% less than Susan does. How much does Susan earn if Sipho earns r rands?
Click here to see answer by ikleyn(52747)

Question 1140840: The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate.
A. Find how much money there will be in the account after the given number of years.
B. Find the interest earned.
Click here to see answer by ikleyn(52747)

Question 1140765: Suppose that April has access to an investment that will pay 10% interest compounded continuously. Which is better : to be given $1000 now so that she can take advantage of this investment opportunity or to be given $1325 after 3 years?
Click here to see answer by Boreal(15235)

Question 1140883: 12. A tool rental company determines that it will rent 500 jackhammers per day at a daily rental fee of $30 per jackhammer. For each $1 increase in rental price, 10 fewer jackhammers will be rented. What rental price maximizes revenue?
Click here to see answer by Boreal(15235)

Question 1140907: A man bought a car for $8,200 and sold it for 80% of the price two years later. How much did he lose?
Click here to see answer by Boreal(15235)

Question 1140929: PLEASE HELP! I want to get better at solving this kind of problem for my math class.
Sarah invested some money in an account earning 10.2% simple interest and three times that amount in an account earning 12% simple interest. She earned $462 in interest after one year. How much does Sarah! invest in each account?
Click here to see answer by ikleyn(52747)

Question 1140944: Garrison deposited $500 in an account that earns 3% interest compounded. How much interest will the account earn after 6 years.
Click here to see answer by josmiceli(19441)

Question 1140949: Chris deposited $3000 in a savings account which pays 2.4% interest compounded monthly . how much money will Chris have at the end of 5 years
Click here to see answer by josmiceli(19441)

Question 1140940: You have two saving accounts, each with an initial principal of $1000. The annual rate on both accounts is %5.25. In the first first account, interest is compounded annually. In the second account, interest is compounded daily. How much more is in the second account after 10 years?
Click here to see answer by Boreal(15235)

Question 1140968: For a Saturday matinee, adult tickets cost $6.50 and kids under 12 pay only $5.00. If 60 tickets are sold for a total of $360, how many of the tickets were adult tickets and how many were sold to kids under 12?
Click here to see answer by Alan3354(69443)

Question 1140932: if you deposit $400 each month into a retirement account that earns 6% interest rate. Compounded monthly, how long will it take to have $1,000,000 to retire with?
Click here to see answer by greenestamps(13195)

Question 1140983: jeff invested $30,000 in a business whereas his partner kris ivested $40,000. How much more needs to be invested in order to generate a total that will yield $6250 annually with a 5% rate of return
Click here to see answer by ikleyn(52747)

Question 1141018: The total cost of three automobile batteries is $340. The most expensive is 3 times the cost of the least expensive. The third is $15 more than the least expensive. Find the cost of each battery.
Click here to see answer by greenestamps(13195)

Question 1141033: company a charges initial fee of $70 and an additional 40 cents for every mile driven. company b charges an initial fee of $55 and an additional 60 cents for every mile driven
Click here to see answer by josgarithmetic(39613)

Question 1141055: An investment made in the stock market decreased at a rate of 2.2% per year for 10 years. What is the current value of the $1,000,000 investment? Include your calculations in your final answer.

Click here to see answer by greenestamps(13195)

Question 1141047: Basic Salary of an employee is Rs. 18,000 and Allowances are Rs. 9000. According to the company’s policy casual leaves are 12 days per year and earned leaves are 24 days per year and normal working days are 22 per month.
Find the total cost of leaves as percent of gross salary.

Click here to see answer by dkppathak(439)

Question 1141046: If an employee deposits Rs. 2,000 at the end of each year into his company’s plan which pays 7% interest compounded quarterly, how much will he have in the account at the end of 5 years?

Click here to see answer by Theo(13342)

Question 1141069: Jordan has invested $4000 in an account that earns 3.6% compounded annually. Approximately how many years will it take for his money to double
Click here to see answer by greenestamps(13195)

Question 1141073: Phyllis invested $13,500, a portion earning a simple interest rate of
4 1/2% per year and the rest earning a rate of 4% per year. After 1 year the total interest earned on these investments was $585. How much money did she invest at each rate?
$______at 4 1/2%
$______at 4%
Click here to see answer by josmiceli(19441)

Question 1141089: Austin deposits $4,000 into an account that pays simple interest at an annual rate of 2%. He does not make any more deposits. He makes no withdrawals until the end of 3 years when he withdraws all the money. How much total interest will Austin earn? What will be the total amount be in the account be (including interest)?
Click here to see answer by josgarithmetic(39613)

Question 1141245: 13. An amount of $2000 earns $400 interest in 3 years and 2 months. What is the effective annual rate of interest compounds monthly?

Click here to see answer by Theo(13342)

Question 1141251: Joe borrowed $1250 and agreed to pay $1500 in settlement of the debt in 3 years and 3 months. What annual nominal rates compounded quarterly was charged on the debt

Click here to see answer by Theo(13342)

Question 1141246: John invested $3000 that earns interest at 4% p.a. compounded monthly. Two years later, the interest rate is changed to 4.50% compounded quarterly. Determine the accumulated value of the investment two years after the change.

Click here to see answer by Theo(13342)

Question 1141252: A $900 credit card debt was to be repaid in 12 months. If $14500 was repaid, what was the nominal rate compounded daily that was charged?
Click here to see answer by Theo(13342)

Question 1141277: If an employee deposits Rs. 2,000 at the end of each year into his company’s plan which pays 7% interest compounded quarterly, how much will he have in the account at the end of 5 years?

Click here to see answer by VFBundy(438)

Question 1141322: Colin invests £4800 into his bank account.
He receives 3% per year compound interest.
How much will Colin have after 7 years?
Give your answer to the nearest penny where appropriate.
Click here to see answer by Boreal(15235)

Question 1141344: Tyler bought a new car for $140 000 his biweekly payments are $200 financed over a term of seven years. how much will Tyler pay over the seven year term
Click here to see answer by greenestamps(13195)

Question 1141328: Basic Salary of an employee is Rs. 18,000 and Allowances are Rs. 9000. According to the company’s policy casual leaves are 12 days per year and earned leaves are 24 days per year and normal working days are 22 per month. Find the total cost of leaves as percent of gross salary?
Click here to see answer by Theo(13342)

Question 1141397: An amount of $1,000 is deposited into a bank account that pays 4% interest compounded once a year. If there are no other withdrawals or deposits, what will be the balance of the account after 3 years? Round your answer to the nearest cent.
Click here to see answer by greenestamps(13195)

Question 1141395: An amount of $1,000 is deposited into a bank account that pays 4% interest compounded once a year. If there are no other withdrawals or deposits, what will be the balance of the account after 3 years? Round your answer to the nearest cent. *
10 points
Click here to see answer by greenestamps(13195)

Question 1141477: 20 years after purchasing shares in a mutual fund for $5,700, the shares are sold for $11,200. What is the annual return percentage?
Click here to see answer by Boreal(15235)

Question 1141250: A debt of $6000 due today is to be settled by two equal payments due three months from now, and 9 months from now respectively. What is the size of the equal payments at 6% compounded quarterly?
Click here to see answer by VFBundy(438)

Question 1141513: Company XYZ closed at $105.39 per share with a P/E ratio of 12.34.
Answer the following questions.
a.How much were earnings per share?
b.Does the stock seem overpriced,underpriced, or about right given that the historical P/E ratio is 12-14?
Click here to see answer by Alan3354(69443)

Question 1141537: How much interest is charged on a $10,000 loan at 10.3% interest if payments are $255.07 a month for 4 years?
Click here to see answer by Alan3354(69443)

Question 1141601: Samir buys x cans of soda at 30 cents each and (x+4) cans of soda at 35 cents each. The total cost was $3.35. Find x
Click here to see answer by josgarithmetic(39613)

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