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

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Question 1163669: A man invests
$
2300
in three accounts that pay
7
%
,
8
%
, and
10
%
in annual interest, respectively. He has
2
times as much invested at
10
%
than he does at
7
%
. If his total interest for the year is
$
199
, how much is invested at each rate?

Click here to see answer by ikleyn(52781)

Question 1163686: Joyce paid $200 for an item at the store that was 20 percent of the original price. What was the original price?
Click here to see answer by josgarithmetic(39617)

Question 1163692: Charmaine is applying for a mortgage of $197,000 amortized over 20 years. The bank offers the following rates: One-year term: 7.25%, Two-year term: 7.6%, Three-year term: 7.8%, Four-year term: 7.95%, Five-year term: 8.05%, and Seven-year term: 8.25%.
What is the current difference in monthly payments between the one-year term and the four-year term?
Click here to see answer by Theo(13342)

Question 1163691: The Simpsons are moving into their new home. They purchased it for $300,000 by putting a down payment of $120,000 towards the purchase and paying the balance with a $180,000 mortgage amortized over 25 years at 4.9% per annum (for a 3-year term). At the end of the 3-year term, the interest rate increased by 0.5%.
What is the approximate increase in their monthly payment?

Click here to see answer by Theo(13342)

Question 1163690: Shania has decided to purchase a new living room suite for $3,985.00, including tax. She chose to buy it with her credit card, with an annual interest rate of 24.99%.
What monthly payment would Shania have to make to pay off this balance in three years?
Click here to see answer by solver91311(24713)

Question 1163689: Todd buys a car worth $41,000, makes a down payment of $5,000, and requires a loan for the balance of the car purchase. His credit union offers financing at 5.9% compounded monthly, for a term of 6 years, payable monthly.
What is Todd's monthly payment?
Click here to see answer by solver91311(24713)

Question 1163688: Bob requires a loan of $39,000 to buy a sport utility vehicle. His bank offers financing at 8.4% compounded monthly, for a term of 5 years, payable monthly.
What is the total cost of this loan?
Click here to see answer by solver91311(24713)

Question 1163733: One crew can seal a parking lot in 8 hours and another 12 hours. How long will it take to seal parking lot if the two crews work together?
Click here to see answer by Edwin McCravy(20055)

Question 1163734: A restaurant has fixed costs of $147.50 per day and an average unit cost of $5.75 for each meal served. If a typical meal costs $7, how many customers must eat at the restaurant each day for the owner to break even ?
Click here to see answer by ikleyn(52781)

Question 1163732: Allison drove home at 62 mph, but her brother Austin , who left at the same time , could drive at only 42 mph. When Allison arrived , Austin still had 40 miles to go, How fat did Allison drive ?
Click here to see answer by ikleyn(52781)

Question 1163730: Equal amounts are invested at 5%,7%, and 9% annual interest. If the three investments yield a total of $840 annual interest , find the total investment.
Click here to see answer by ikleyn(52781)

Question 1163731: An executive invests $21,000, some at 8% and the rest at 6% Annual interest. if he receive an annual return of &1,620, how much is invested at each rate
At 8% interest =
At 6% interest =
Click here to see answer by MathLover1(20849)

Question 1163831: You want to start saving for your 10-year old son’s college education. If you wereguaranteed 6% interest compounded quarterly, how much would you have to save permonth to amount to P12,000 by the time he is 18?

Click here to see answer by Theo(13342)

Question 1163851: A student's pay of $22 an hour is $5 more than twice the amount the student earns per hour at an internship. Enter and solve an equation to find the hourly pay of the internship.
Click here to see answer by solver91311(24713)

Question 1163949: If a car is driven 500 miles per month and gas is $1.35 a gallon, how much should one plan to spend per month on gas. Car gets 23 MPG.
Click here to see answer by ikleyn(52781)

Question 1163997: An executive invests $21,000, some at 6% and the rest at 5% annual interest. If he receives an annual return of $1,180, how much is invested at each rate?
Click here to see answer by Edwin McCravy(20055)

Question 1164011: Susan Marciano invested part of her $24000 bonus in a fund that paid 10% profit and invested the rest in stock that suffered a 3% loss. Find the amount of each investment if her overall net profit was $190 .
Click here to see answer by solver91311(24713)

Question 1164037: Kofi bought 4 books at an average price of ghc250.00. if the total cost of 3 books was ghc650.00. find the cost of the 4th book.

Click here to see answer by ikleyn(52781)

Question 1164045: A sum of $2500, 000 earns interest at a rate of 12% per year compounded quarterly. How long will it take the investment to grow to $ 400, 000?
Click here to see answer by ikleyn(52781)

Question 1164043: For their newborn child, parents deposit $10,000 in a college account that pays 8% interest, compounded annually. How much will be in the account on the child’s 17th birthday?
Click here to see answer by ikleyn(52781)

Question 1164044: What sum must be deposited today at 18% per year compounded monthly if the goal is to a compound amount of $50, 000 six years from today? How much interest will be earned during this period?
Click here to see answer by ikleyn(52781)

Question 1164148: You want to put $8,000 in a simple interest account. It has a 2% annual interest rate. How long must you invest that money to earn $400 in interest?

Click here to see answer by Theo(13342)

Question 1164092: A car is leased for 4 years at $279/month.
One month's payment must be made in advance, and a $500 termination fee is charged when the car returned at the end of 4 years.
The same car can be bought for $19,875 cash.
If the car is sold for $8,500 at the end of the 4 years, how much less did buying cost than leasing?
Click here to see answer by Theo(13342)

Question 1164173: Assume it costs Microsoft $4,800 to manufacture 8 Xbox 360s and $9,360 to manufacture 16. Obtain the corresponding linear cost function.
C(x) =
What was the cost to manufacture each additional Xbox?
$
Use the cost function to estimate the cost of manufacturing 60 Xboxes.
$

Click here to see answer by Theo(13342)

Question 1164243: Owes $6 for pizza
Borrowed $12 for a movie ticket
Paid back $20 for shopping
Earned $16 babysitting
Owes $50 for her cellphone payment
Repaid debt of $10 for earrings
Click here to see answer by josgarithmetic(39617)

Question 1164252: Sarah Meeham blends coffee for Tasti-Delight. She needs to prepare 150 pounds of blended coffee beans selling for $4.10 per pound. She plans to do this by blending together a high-quality bean costing $5.50 per pound and a cheaper bean at $2.50 per pound. To the nearest pound, find how much high-quality coffee bean and how much cheaper coffee bean she should blend.
Click here to see answer by ikleyn(52781)

Question 1164251: There were 386 tickets purchased for a major league baseball game. The tickets cost $12.50 and the tickets cost $8.00 The total amount of money spent was $3542.50 How many of each kind of ticket were purchased?
Click here to see answer by ikleyn(52781)

Question 1164250: Birdseed costs $0.62 a pound and sunflower seeds cost $0.92 a pound. Angela Leinenbachs' pet store wishes to make a 40-pound mixture of birdseed and sunflower seeds that sells for $0.82 per a pound. How many pounds of each type of seed should she use?
Click here to see answer by ikleyn(52781)

Question 1164249: Aleksandra Tomich invested $10,000 part at 9% simple interest and part at 3% simple interest for a period of 1 year. How much did she invest at each rate if each account earned the same interest?
Click here to see answer by ikleyn(52781)

Question 1164253: 1. The accumulated sum of R12000 invested at a continuous rate of 16,5% per annum, for a period of five years is?
2.
Mary deposits R400 every three months into a bank account earning interest at 16% per year, compounded quarterly. The approximate time that it will take Mary to save R40000 is
Click here to see answer by ikleyn(52781)

Question 1164248: You invested $5000 between two accounts paying 3% and 7% annual interest, respectively. If the total interest earned for the year was $190 how much was invested at each rate of 3% and 7%?
Click here to see answer by greenestamps(13200)

Question 1164233: A sum of $25,000 is invested in a savings account which pays interest at a rate of 7 percent per year compounded annually. If the amount is kept on deposit for 15 years, what will be the compound amount equal? How much interest will be earned during the 15 years?
Click here to see answer by ikleyn(52781)

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