Tutors Answer Your Questions about Money Word Problems (FREE)
Question 1168346: Jimmy went out to lunch 3 times last week and each time he went it cost him $10.58. He went to the movie theaters last week which cost him $15.60 . Jimmy worked at his local grocery store earning a wage of $10 an hour, and worked 30 hours last week. He also bought a new pair of pants for work that cost him $25 last week. What were his total cash outflows for the previous week?
Click here to see answer by Boreal(15235)   |
Question 1168813: Any help would be appreciated. I keep getting the same answer which is incorrect.
Charmaine is going to invest to help with a down payment on a home. How much would she have to invest to have 49,600 after 8 years, assuming an interest rate of 1.66% compounded monthly?
Do not round any intermediate computations, and round your final answer to the nearest dollar.
Click here to see answer by ikleyn(52775)  |
Question 1168820: 1. Wen Seng operates an ice cream shop. He is trying to decide whether to expand his business to include ice cream cakes. He will need some additional space that will cost him $7,400 per year at the end of each year and some additional equipment that will cost $14,000 up front. The ice cream cakes will provide an extra income of $13,000 per year at the end of each year. The business is expected to last 25 years. The discount rate (or interest rate) for Wen Seng's new business is 6%. What is the Net Present Value of the ice cream cake project? (Assume there are no taxes.)
2. Yassein is looking to refinance his home because rates have gone down from when he bought his house 10 years ago. He started with a 30-year fixed-rate mortgage of $339,000 at an annual rate of 7.6%. He can now get a 20-year fixed-rate mortgage at an annual rate of 5.6% on the remaining balance of his initial mortgage. (All loans require monthly payments.) In order to re-finance, Yassein will need to pay closing costs of $4,200. These costs are out of pocket and cannot be rolled into the new mortgage. How much will refinancing save Yassein? (i.e. What is the NPV of the refinancing decision?)
3. Reggie has just taken over management of a family business. He wants to make sure that it makes financial sense to keep the business going. He could sell the building today for $610,000. Keeping the business going will require a $60,000 renovation now and will yield an annual profit of $72,000 for the next 25 years (for simplicity assume these occur at year end, beginning one year from now). The discount/interest rate is 6%. What are the NPV and IRR of this decision?
Thank you so much.
Click here to see answer by ikleyn(52775) |
Question 1168938: Suppose that you bought a car in mid-2009 for $10,000. If its value (in current dollars) depreciates steadily at 12% per year, what will its value (in current dollars) be in mid 2012?
If inflation had been 3% each year from 1997 to 2007, what would the CPI have been in 2007?
Click here to see answer by Solver92311(821)  |
Question 1168942: a person retires 20 years from now. he wants to leave 10000 every month for 10 years after retirement the money then would be 8% compounded monthly. he has invested 50000 in a fixed deposit which pays 10% compounded quartile.how much amount at the end of every six months should he save in bank, which pays 7% compounded semi-annually.(Answers=PV of annuity=824214.81, Amount=360478.40, FV of annuity=463736.41, R=1790.011)
Click here to see answer by Theo(13342)  |
Question 1168962: Suppose that you save for retirement by contributing the same amount each month from your 23rd birthday until your 65th birthday, in an account that pays a steady 5% annual interest compounded monthly. How much will be in your fund if you get a steady return of 10% compounded monthly?
Click here to see answer by ikleyn(52775) |
Question 1168961: Suppose that you save for retirement by contributing the same amount each month from your 23rd birthday until your 65th birthday, in an account that pays a steady 5% annual interest compounded monthly. How much will be in your fund if you get a steady return of 7.5% compounded monthly?
Click here to see answer by ikleyn(52775) |
Question 1169074: Janice decided to go to the basketball game on Thursday night instead of working at the
restaurant. What is her opportunity cost for this decision assuming she spent $24 in gas
driving to the away game and $8 at the concession stand? Janice normally works 5 hours
at the restaurant and makes $7 an hour plus tips. Her tips typically run about $35 on a
weeknight.
Click here to see answer by math_tutor2020(3816) |
Question 1169091: Rob wants to buy a new canoe that will cost $720. How long will it take him to save
enough money to buy it if his cash inflows average about $420 a month and his current
cash outflows are $360 a month? Can it be answered ASAP
Click here to see answer by ikleyn(52775) |
Question 1169181: Latron believes if he cuts back on his part-time job, he can spend some additional time
working out over the next 20 weeks and earn an athletic scholarship to the local college.
However, cutting back at work means he will forgo making $12 an hour at his uncle’s
shop. Assuming he now works only 10 hours a week with his reduced schedule instead of
the normal 22 hours a week, how much will his scholarship have to pay for him to break even? Can it be solved ASAP
Click here to see answer by Boreal(15235) |
Question 1169223: Brenda deposited some money at 6% simple interest in a certificate of deposit. She invested $1500 less than this amount in a mutual fund account bearing simple interest at 11%. If Brenda's total interest income was $1195 for the year, how much did she invest in each account?
Click here to see answer by ikleyn(52775) |
Question 1169182: Amber would like to go on the field trip this Saturday. However, she was scheduled to
work 10 hours and she makes $8.50 an hour. Additionally, the field trip activity fee was
$30. What is her opportunity cost to go on the field trip? Can it be solved ASAP
Click here to see answer by Theo(13342) |
Question 1169159: Latron believes if he cuts back on his part-time job, he can spend some additional time
working out over the next 20 weeks and earn an athletic scholarship to the local college.
However, cutting back at work means he will forgo making $12 an hour at his uncle’s
shop. Assuming he now works only 10 hours a week with his reduced schedule instead of
the normal 22 hours a week, how much will his scholarship have to pay for him to break
even?
Can it be solved ASAP
Click here to see answer by ankor@dixie-net.com(22740)  |
Question 1169180: Graham decided to play football this year instead of getting a part-time job. Last year he
made about $1,100 during football season. He also spends about $9 on eating out after
each game. His team plays a 10-game season. What is his opportunity cost of playing
football? Can you solve it ASAP
Click here to see answer by Solver92311(821) |
Question 1169161: Barinda is considering running for student government. However, she knows she will
have to work about 10 hours fewer per week if elected, and she makes $7 an hour. The
campaign will also cost her about $100 in campaign buttons and posters. What is her
opportunity cost for serving on student government if elected if she actively serves for 30
weeks? Can it be solved ASAP
Click here to see answer by Solver92311(821) |
Question 1169273: Pls answer my question
Warren deposited his 12,000.00 in a local bank in 2019.
If the bank offers 5% interest rate compounded annually, how much will be in his bank account in 2028?
Suppose he will widthdraw the principal in 2028 and will leave the interest in his account, how much will the interest earn after 5 years?
Click here to see answer by Boreal(15235) |
Question 1169273: Pls answer my question
Warren deposited his 12,000.00 in a local bank in 2019.
If the bank offers 5% interest rate compounded annually, how much will be in his bank account in 2028?
Suppose he will widthdraw the principal in 2028 and will leave the interest in his account, how much will the interest earn after 5 years?
Click here to see answer by Theo(13342) |
Question 1169348: What to do:
a. Make a diagram of the situation.
b. Plot the number of t-shirt sell, time (per week) and cost (in peso) and answer the following:
1.) Write a quadratic function in standard form that models the revenue from t-shirt sales.
2.) What price produces the maximum revenue?
Scenario #2
A garments store sells about 40 t-shirts per week at a price of Php100 each. For each Php10 decrease in price, the sales lady found out that 5 more t-shirts per week were sold.
Click here to see answer by josgarithmetic(39616) |
Question 1169392: Kate has a t-shirt business that has earned a total of $15 000 this year. She invests part of the
money at 4% per year and the rest at 5% per year. After one year she earned $690 in interest.
How much did she invest at each rate?
Click here to see answer by The Troll Kid(22) |
Question 1169392: Kate has a t-shirt business that has earned a total of $15 000 this year. She invests part of the
money at 4% per year and the rest at 5% per year. After one year she earned $690 in interest.
How much did she invest at each rate?
Click here to see answer by Solver92311(821) |
Question 1169392: Kate has a t-shirt business that has earned a total of $15 000 this year. She invests part of the
money at 4% per year and the rest at 5% per year. After one year she earned $690 in interest.
How much did she invest at each rate?
Click here to see answer by greenestamps(13198)  |
Question 1169346: What to do:
Make a proposed plan for the fund raising activity showing the relationship of the related variables and the predicted income, price, maximum profit, maximum participation, and also the break-even point
Scenario #1
The mathematics club plan to sponsor a filming viewing during foundation week. The primary goal for this film viewing is to raise funds for their math park project and of course to enhance the interest of the students in mathematics. To ensure that the film viewing activity will not lose money, careful planning Is needed to guarantee a profit for the project. As officers of the club, your group is tasked to make a plan for the event.
Mrs. Sappayani, the mathematics coordinator advised you to consider the following variables in making the plan.
1. Factors affecting the number of tickets sold
2. Expenses that will reduce profit from ticket sales such as; a) Promoting expenses, b) Operating expenses
3. How will the expenses depend on the number of people who will buy tickets and attend?
4. Predicted income and ticket price
5. Maximum income and ticket price
6. Maximum participation regardless of the profit
7. What is the ticket price for which the in com is equal to the expenses?
Click here to see answer by The Troll Kid(22) |
Question 1169402: Find the expected value.
In a large casino, the house wins on one of its games with a probability of 51,000%. All bets are 1 : 1 . If you win, you gain the amount you bet; if you lose, you lose the amount you bet.
If patrons bet a total of $900,000 on this game in one evening, how much should the casino expect to earn?
Click here to see answer by Solver92311(821) |
Question 1169072: Latron believes if he cuts back on his part-time job, he can spend some additional time
working out over the next 20 weeks and earn an athletic scholarship to the local college.
However, cutting back at work means he will forgo making $12 an hour at his uncle’s
shop. Assuming he now works only 10 hours a week with his reduced schedule instead of
the normal 22 hours a week, how much will his scholarship have to pay for him to break
even?
Click here to see answer by Theo(13342) |
Question 1169541: I need this answered for my exam plz hurry if you can
Jennifer wants to take a trip to Europe when she graduates from high school in 3 years. After doing some research, Jennifer has found that she can place her money in an investment with an interest rate of 4.8%/a, compounded quarterly. How much money must Jennifer put into investment now if she required $4000 to take her trip?
Click here to see answer by Theo(13342) |
Question 1169541: I need this answered for my exam plz hurry if you can
Jennifer wants to take a trip to Europe when she graduates from high school in 3 years. After doing some research, Jennifer has found that she can place her money in an investment with an interest rate of 4.8%/a, compounded quarterly. How much money must Jennifer put into investment now if she required $4000 to take her trip?
Click here to see answer by ankor@dixie-net.com(22740) |
Question 1169691: Lucy wants to buy a house with the value of £140,000. She can pay a deposit up front of £20,000.
What is the amount of the deposit Lucy can pay up front as a fraction of the total cost of the house? Write
your answer in its simplest form
Click here to see answer by Boreal(15235) |
Question 1169798: Saif is planning to buy a house in 19 years. He wants to invest RO 334 now and hopes to have RO 9334 to spend on the house when he buys it. What kind of interest rate would he need if his investment is compounded monthly?
Click here to see answer by Boreal(15235) |
Question 1169880: Write an expression to represent the quantity described below.
The cost of a new CD is $14.95, and the cost of a video game is $39.99. How much would c
CDs and v
video games cost?
Cost of c
CDs and v
video games
Click here to see answer by Boreal(15235) |
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