Tutors Answer Your Questions about Money Word Problems (FREE)
Question 1149477: The admission fee at an amusement park is $1.25 for children and $7.20 for adults. On a certain day, 320 people entered the park, and the admission fees collected totaled 1114 dollars. How many children and how many adults were admitted?
Click here to see answer by ikleyn(52747)   |
Question 1149477: The admission fee at an amusement park is $1.25 for children and $7.20 for adults. On a certain day, 320 people entered the park, and the admission fees collected totaled 1114 dollars. How many children and how many adults were admitted?
Click here to see answer by Boreal(15235)  |
Question 1149476: Jolene invests her savings in two bank accounts, one paying 4 percent and the other paying 8 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 7840 dollars. How much did she invest at each rate?
Click here to see answer by ikleyn(52747) |
Question 1149464: The car Hector has chosen costs $24,000. Most car loans are calculated using simple interest, a method which interest is calculated only once per year. His first option is a loan with 3% interest over six years. How much will Hector pay over the course of the next six years if he chooses this option? Answer (round your answer to the nearest dollar)
Click here to see answer by josmiceli(19441)  |
Question 1149488: Jolene invests her savings in two bank accounts, one paying 4 percent and the other paying 8 percent simple interest per year. She puts twice as much in the lower-yielding account because it is less risky. Her annual interest is 3024 dollars. How much did she invest at each rate?
Click here to see answer by ikleyn(52747) |
Question 1149493: Monthly sales figures for January are 5600. This is expected to fall for the following 9 months at a rate of 2% each month. Thereafter sales are predicted to rise at a constant rate of 4% each month. Estimate total sales for the next 2 years (including the first January).
Click here to see answer by ikleyn(52747) |
Question 1149612: Phyllis invested 27000 dollars, a portion earning a simple interest rate of 5 percent per year and the rest earning a rate of 7 percent per year. After one year the total interest earned on these investments was 1570 dollars. How much money did she invest at each rate?
Click here to see answer by greenestamps(13195)  |
Question 1149744: The cost of two ice cream cones is $2.25. A mother had in her a purse exactly two $2 coins, two $1 coins and two quarters. She took out two coins at random to pay for the coins. What is the probability that she did NOT have at least $2.25?
Click here to see answer by math_helper(2461)  |
Question 1149802: Please help me solve. Mike has $235,000 he wishes to invest in two rental properties. One yields 10% and the other yields 12%. For safety he wants to split his investment between the two properties instead of investing all of his money in the higher yielding rental property. If his goal is to achieve a total income earned of $25,000 a year from these two properties, how much money should he invest in each property.
Click here to see answer by ikleyn(52747) |
Question 1149835: A business borrowed 50000 at 8% compounded monthly. If the loan is to be paid in equal quartely payments over seven years and the first payment in due three months after the date of the loan, calculate the size of the quartely payments.
Click here to see answer by Theo(13342)  |
Question 1149850: Chloe borrowed some money from her friend in order to help buy a new video game system and agreed to pay the friend back a constant amount each week. Chloe originally borrowed $40 from her friend and after 6 weeks, she still owed her friend $16. Write an equation for the function L(t), representing the amount Chloe owes her friend after t weeks.
Click here to see answer by jim_thompson5910(35256) |
Question 1149858: 3. question: Jane invested $1500 into an RRSP that earned interest at 5% compounded semi-annually for eight years?
a)Find the balance of the account at the end of the period.
b)How much interest is earned?
c)What is the effective rate of interest?
Click here to see answer by ikleyn(52747) |
Question 1150172: Lashonda invested her savings in two investment funds. The amount she invested in Fund A was $6000 less than the amount she invested in Fund B. Fund A returned a 5% profit and Fund B returned a 6% profit. How much did she invest in Fund B, if the total profit from the two funds together was $1350?
Click here to see answer by VFBundy(438)  |
Question 1150183: tina invests 5000 rs in a mutual fund at 7.5 percent simple interest per annum. She also has a 4 year loan of 10000 rs at 3.75 percent simple interest per annum. When will the amount of interest earned on the mutual fund be equal to the amount of interest paid on the loan?
Click here to see answer by josmiceli(19441) |
Question 1150348: You deposit $300 each month into an account earning 8% interest compounded monthly.
a) How much will you have in the account in 15 years?
$
b) How much total money will you put into the account?
$
c) How much total interest will you earn?
$
Click here to see answer by ikleyn(52747) |
Question 1150356: Answers must have correct units.
Accuracy should be to the nearest dollar, percentages to the nearest 0.1%, and decimal equivalents to the nearest 0.0001.
The assignment should be submitted in document format.
Each of your final answers should be in statement form with correct notation.
Case Study - Planning Ahead
Precision Machining Corporation has been growing steadily over the past decade. Demand for the company’s products continues to rise, so management has decided to expand the production facility; $2 800 000 has been set aside for this over the next four years.
Management has developed two different plans for expanding over the next four years: Plan A and Plan B. Plan A would require equal amounts of $750 000, one year from now, two years from now, three years from now, and four years from now. Plan B would require $300 000 now, $700 000 one year from now, $900 000 two years from now, and $975 000 four years from now.
The company has decided to fund the expansion with only the $2 800 000 and any interest it can earn on it. Before deciding which plan to use, the company asks its treasurer to predict the rates of interest it can earn on the $2 800 000. The treasurer expects that Precision Machining Corporation can invest the $2 800 000 and earn interest at a rate of 4.5% p.a. compounded semi-annually during Year 1, 5.0% p.a. compounded semi-annually during Years 2 and 3, and 5.5% p.a. compounded semi-annually during Year 4. The company can withdraw part of the money from this investment at any time without penalty.
Questions
1.
a. Could Precision Machining Corporation meet the cash requirement of Plan A by investing the $2 800 000 as described above? (Use “now” as the focal date.)
b. What is the exact difference between the cash required and the cash available from the investment?
2.
a. Could Precision Machining Corporation meet the cash requirements of Plan B by investing the $2 800 000 as described above? (Use “now” as the focal date.)
b. What is the difference between the cash required and the cash available from the investment?
3.
a. Suppose Plan A was changed so that it required equal amounts of $750 000 now, one year from now, two years from now, and four years from now. Could Precision Machining Corporation meet the cash requirements of the new Plan A by investing the $2 800 000 as described above? (Use “now ” as the focal date.)
b. What is the difference between the cash required and the cash available from the investment?
4. Suppose the treasurer found another way to invest the $2 800 000 that earned interest at a rate of 4.9% compounded quarterly for the next five years.
a. Could the company meet the cash requirements of the original Plan A with this new investment? (Show all your calculations.)
b. Could the company meet the cash requirements of Plan B with this new investment? (Show all your calculations.)
c. If the company could meet the cash requirements of both plans, which plan would the treasurer recommend? In other words, which plan would have the lower present value?
Click here to see answer by ikleyn(52747) |
Question 1150428:
Case Study - Planning Ahead
Precision Machining Corporation has been growing steadily over the past decade. Demand for the company’s products continues to rise, so management has decided to expand the production facility; $2 800 000 has been set aside for this over the next four years.
Management has developed two different plans for expanding over the next four years: Plan A and Plan B. Plan A would require equal amounts of $750 000, one year from now, two years from now, three years from now, and four years from now. Plan B would require $300 000 now, $700 000 one year from now, $900 000 two years from now, and $975 000 four years from now.
The company has decided to fund the expansion with only the $2 800 000 and any interest it can earn on it. Before deciding which plan to use, the company asks its treasurer to predict the rates of interest it can earn on the $2 800 000. The treasurer expects that Precision Machining Corporation can invest the $2 800 000 and earn interest at a rate of 4.5% p.a. compounded semi-annually during Year 1, 5.0% p.a. compounded semi-annually during Years 2 and 3, and 5.5% p.a. compounded semi-annually during Year 4. The company can withdraw part of the money from this investment at any time without penalty.
Questions
1.
a. Could Precision Machining Corporation meet the cash requirement of Plan A by investing the $2 800 000 as described above? (Use “now” as the focal date.)
b. What is the exact difference between the cash required and the cash available from the investment?
Click here to see answer by Theo(13342) |
Question 1150492: you invested $10000 total, split between two investments. one of the funds rose 6% in one year, and the other rose 9% in one year. your investment rose a total of $684 in one year. find the amount you invested in each fund
Click here to see answer by josmiceli(19441) |
Question 1150582: In 1854, a person sold a house to a lady for $30. If the lady had put the $30 into a bank account paying 5% interest, how much would the investment have been worth in the year 2009 if interest were compounded in the following ways?
a. monthly b. continuously
Click here to see answer by Alan3354(69443)  |
Question 1150553:
--------------- QUESTION FOLLOWS --------------------------
Case Study - Planning Ahead
Precision Machining Corporation has been growing steadily over the past decade. Demand for the company’s products continues to rise, so management has decided to expand the production facility; $2 800 000 has been set aside for this over the next four years.
Management has developed two different plans for expanding over the next four years: Plan A and Plan B. Plan A would require equal amounts of $750 000, one year from now, two years from now, three years from now, and four years from now. Plan B would require $300 000 now, $700 000 one year from now, $900 000 two years from now, and $975 000 four years from now.
The company has decided to fund the expansion with only the $2 800 000 and any interest it can earn on it. Before deciding which plan to use, the company asks its treasurer to predict the rates of interest it can earn on the $2 800 000. The treasurer expects that Precision Machining Corporation can invest the $2 800 000 and earn interest at a rate of 4.5% p.a. compounded semi-annually during Year 1, 5.0% p.a. compounded semi-annually during Years 2 and 3, and 5.5% p.a. compounded semi-annually during Year 4. The company can withdraw part of the money from this investment at any time without penalty.
Questions
4. Suppose the treasurer found another way to invest the $2 800 000 that earned interest at a rate of 4.9% compounded quarterly for the next five years.
a. Could the company meet the cash requirements of the original Plan A with this new investment? (Show all your calculations.)
b. Could the company meet the cash requirements of Plan B with this new investment? (Show all your calculations.)
c. If the company could meet the cash requirements of both plans, which plan would the treasurer recommend? In other words, which plan would have the lower present value?
Click here to see answer by Theo(13342) |
Question 1150581: In 1854, a person sold a house to a lady for $30. If the lady had put the $30 into a bank account paying 5% interest, how much would the investment have been worth in the year 2009 if interest were compounded in the following ways?
Click here to see answer by greenestamps(13195) |
Question 1150606:
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Dear kaurbhavneet910@gmail.com, your question for free tutors has been submitted.
Please use Algebra.Com for other questions.
--------------- QUESTION FOLLOWS --------------------------
Answers must have correct units.
Accuracy should be to the nearest dollar, percentages to the nearest 0.1%, and decimal equivalents to the nearest 0.0001.
The assignment should be submitted in document format.
Each of your final answers should be in statement form with correct notation.
Case Study - Planning Ahead
Precision Machining Corporation has been growing steadily over the past decade. Demand for the company’s products continues to rise, so management has decided to expand the production facility; $2 800 000 has been set aside for this over the next four years.
Management has developed two different plans for expanding over the next four years: Plan A and Plan B. Plan A would require equal amounts of $750 000, one year from now, two years from now, three years from now, and four years from now. Plan B would require $300 000 now, $700 000 one year from now, $900 000 two years from now, and $975 000 four years from now.
The company has decided to fund the expansion with only the $2 800 000 and any interest it can earn on it. Before deciding which plan to use, the company asks its treasurer to predict the rates of interest it can earn on the $2 800 000. The treasurer expects that Precision Machining Corporation can invest the $2 800 000 and earn interest at a rate of 4.5% p.a. compounded semi-annually during Year 1, 5.0% p.a. compounded semi-annually during Years 2 and 3, and 5.5% p.a. compounded semi-annually during Year 4. The company can withdraw part of the money from this investment at any time without penalty.
Questions
3.
a. Suppose Plan A was changed so that it required equal amounts of $750 000 now, one year from now, two years from now, and four years from now. Could Precision Machining Corporation meet the cash requirements of the new Plan A by investing the $2 800 000 as described above? (Use “now ” as the focal date.)
b. What is the difference between the cash required and the cash available from the investment?
Click here to see answer by Alan3354(69443) |
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