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

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Question 1184491: A man has an investment of 13,760.00 in cash for equipment. His estimates of the year receipts and disbursements for all purposes are shown below.
Year Receipts Disbursement
0 0.00 13, 760.00
1 5, 000.00 1, 000.00
2 6, 200.00 1, 200.00
3 7, 500.00 1, 500.00
4 8, 800.00 1, 800.00
He estimates that his equipment has a salvage value of P 2,000.00 at the end of its useful life. Find the rate of return of the investment.

Click here to see answer by Theo(13342)

Question 1184493: Find the exact simple interest on 1,000.00 which was deposited on January 8, 1990 and to be withdrawn on October 8, 1992 if interest is 10%.
Click here to see answer by Boreal(15235)

Question 1184490: What is the principal amount if the amount of interest at the end of 2 ½ year is 4,500.00 for a simple interest of 6% per annum?

Click here to see answer by Boreal(15235)

Question 1184526: Select all correct answers.
Is it A and E? I want to check my answer.
Josephine is opening a retail shoe store and has developed this graph to represent her projected revenue, costs, and profit. Which two sentences correctly interpret the graph?
A. Profits increase until the price of the shoes reaches $22.
B. Costs decrease until the price of the shoes reaches $22.
C. Profits and revenues are equal when the shoes are priced at $22.
D. As long as revenues are positive, profits are too.
E. There are more prices with positive revenues than positive profits.
The question is provided in the link here: https://i.imgur.com/mcJ857p.png
Click here to see answer by Theo(13342)

Question 1184533: An engineer wants to purchase a used car
Click here to see answer by ikleyn(52775)

Question 1184595: If you borrowed 10, 000 pesos from a bank with 18% interest per annum, what is the total amount to be repaid at the end of one year?
Click here to see answer by ikleyn(52775)

Question 1184593: What is the effective rate for an interest rate of 12% compounded continuously?
Click here to see answer by ikleyn(52775)

Question 1184596: What is the principal amount if the amount of interest at the end of 2 ½ year is 4, 500 pesos for a simple interest of 6% per annum?
Click here to see answer by ikleyn(52775)

Question 1184592: An interest rate of 8% compounded semi-annually is how many percent if compounded quarterly.
Click here to see answer by ikleyn(52775)

Question 1184710: A man invested part of P20,000 at 18% and the rest at 16%. The annual income from 16% investment was P620 less than three times the annual income from 18% investment. How much did he invest at 18%?
Click here to see answer by Theo(13342)

Question 1184753: You deposit 1,140 dollars into an account that pays 7% interest for a period of 10 years. This account compounds interest monthly. How much money do you have at the end?
Click here to see answer by ikleyn(52775)

Question 1184778: One employee of a computer shop is paid a base salary of PhP2; 150 a week plus an 8%
commision on all sales over PhP 7; 000 duringthe week. How much must the employee sell
in a week to earn a total of PhP 3; 170 for the week?
Click here to see answer by ikleyn(52775)

Question 1184719: Three years ago, an engineer opened a savings account with an initial deposit of P200,000. He withdrew P50,000 three months later, and another P50,000 six months after the first withdrawal. Last year, he deposited P100,000 and withdrew P150,000 six months later. Find the account balance today if interest is 10% compounded quarterly.
Click here to see answer by Theo(13342)

Question 1184809: Is it D? I want to check my answer.

Andy has a credit rating of 800, and Mia has a credit rating of 585. They both apply for the same loan amount from Newton Bank. The bank approves Andy’s loan at 6.5%, and Mia is charged 4 percentage points more because of her lower credit rating. What interest rate does Mia have to pay?

A. 2.5%

B. 4.0%

C. 6.9%

D. 10.5%

E. 11.25%
Click here to see answer by Theo(13342)

Question 1184812: Are my choices correct? I want to check my answers.
Sean created this table to represent the balance of his loan, y, over a period of months, x. The equation for the line of best fit for Sean’s table of data is y = -115.9x + 8,007.30.
According to the line of best fit and using (extrapolation), Sean can estimate that the balance of his loan will reach $0 in month (69).

The question is provided in the link here: https://i.imgur.com/LJZ4YLw.png
Click here to see answer by Theo(13342)

Question 1184821: Is it 405? I want to check my answer.
Maricela was recently approved for an $18,000 loan for 5 years at an interest rate of 6.2%. Use the monthly payment formula to complete the statement.
M = monthly payment
P = principal
r = interest rate
t = number of years
The question is provided in the link here:: https://i.imgur.com/uY0kP9W.png
Click here to see answer by MathLover1(20849)

Question 1184661: Joy puts $300.00 into an account to use for school expenses. The account earns 9% interest, compounded annually. How much will be in the account after 8 years?

Click here to see answer by josgarithmetic(39616)

Question 1184861: Alexis wants to have saved $600 000 by the time she retires at age 60. She is turning 46 in the next week and has accumulated in her RRSP accounts. Assuming she can continue to get a 6% annual return on her RRSP investments, how much does she need to keep saving at the end of each month to reach her goal?
A) $2262
B) $1467
C) $2102
D) $396

Click here to see answer by Theo(13342)

Question 1184933: Is it A? I want to check my answer.
Adam bought a treadmill and a dirt bike from a sports equipment store for y dollars. He signed an installment agreement requiring an 8% down payment and monthly payments of x dollars for 18 months. Which expression correctly represents Adam’s finance charge?
A. 0.8y
B. 18y
C. 18x − 0.92y
D. 18x − 0.08y
E. 18y − 0.92x
Click here to see answer by ikleyn(52775)

Question 1184932: Is it 405? I want to check my answer.
Maricela was recently approved for an $18,000 loan for 5 years at an interest rate of 6.2%. Use the monthly payment formula to complete the statement.
M = monthly payment
P = principal
r = interest rate
t = number of years

The question is provided in the link here:: https://i.imgur.com/uY0kP9W.png
Click here to see answer by ikleyn(52775)

Question 1184947: The cash price of a television set is $10 000.00
A woman buys the television set on hire purchase by making a 20% down payment and paying off the balance in 12 equal installments of $800.00. The amount saved if the television set was bought for cash is
Click here to see answer by Theo(13342)

Question 1184927: A commercial bank charges 2% interest per month on the unpaid balance of loans made by its credit card subscribers. It claims that the annual interest applied is 12(2%) = 24%. Is this true?
Click here to see answer by Alan3354(69443)

Question 1184956: Is it B? I want to check my answer.
Adam bought a treadmill and a dirt bike from a sports equipment store for y dollars. He signed an installment agreement requiring an 8% down payment and monthly payments of x dollars for 18 months. Which expression correctly represents Adam’s finance charge?
A. 0.8y
B. 18y
C. 18x − 0.92y
D. 18x − 0.08y
E. 18y − 0.92x
Click here to see answer by ikleyn(52775)

Question 1184964: Is it D? I want to check my answer.
Bob has taken out a loan of $15,000 for a term of 48 months (4 years) at an interest rate of 6.5%. Using the amortization table provided, what will be his total finance charge over the course of his loan?
A. $355.65
B. $975.00
C. $1,682.40
D. $2,071.20
E. $17,071.20
The question is provided in the link here: https://i.imgur.com/sfmwHur.png
Click here to see answer by Theo(13342)

Question 1184976: Is it 841.09? I want to check my answer.
Type the correct answer in the box. Use numerals instead of words. Round your answer to the nearest cent.
Raquel obtained a 30-year, $185,000 mortgage at an annual interest rate of 3.6%, compounded monthly, to purchase her new home. Calculate her monthly payment on the loan.
The question is provided in the link here: https://i.imgur.com/QQZtwIn.png
Click here to see answer by ikleyn(52775)

Question 1185021: If you deposited $2000, withdrew no money, and earned 3% continuously compounded interest for 10 years, how much money would you have in the account? You made no other deposits.
Click here to see answer by ikleyn(52775)

Question 1185022: If a person invests 250 in an account that pays 9% interest compounded annually, find the balance after 15 years.
Click here to see answer by ikleyn(52775)

Question 1184985: PIECRWISE PROBLEMS
Mark started selling snacks in the nearby school.in one day he spend 200 for rent and 25 for each snack item he prepares. His expenses in a single day can expressed as function C(x)=+200,where x is the number of item and C(x) is his daily expenses in pesos.how much are his expenses if he prepare 100 snack item?150 snack item?
Click here to see answer by Theo(13342)

Question 1185026: Is it 841.09? I want to check my answer
Type the correct answer in the box. Use numerals instead of words. Round your answer to the nearest cent.
Raquel obtained a 30-year, $185,000 mortgage at an annual interest rate of 3.6%, compounded monthly, to purchase her new home. Calculate her monthly payment on the loan.
The question is provided in the link here: https://i.imgur.com/QQZtwIn.png
Click here to see answer by ikleyn(52775)

Question 1185033: You buy a house including the land it sits on for $121000. The real estate agent tells you that the land costs $5000 more than the house. What is the price of the house and what is the price of the land?
Click here to see answer by ikleyn(52775)

Question 1185062: Maxwell buys a used car by paying a down payment of $5,000 and instalment of $850 a month for 3 years. The first instalment is paid one month after the time of purchase. If the interest rate is 9% per year compounded monthly, find the purchase price of the used car
Click here to see answer by Theo(13342)

Question 1185084: J & S Bhd is considering a project . . .
Calculate the NPV of the project.
Click here to see answer by ikleyn(52775)

Question 1185087: Is it D? I want to check my answer.
Bob has taken out a loan of $15,000 for a term of 48 months (4 years) at an interest rate of 6.5%. Using the amortization table provided, what will be his total finance charge over the course of his loan?
A. $355.65
B. $975.00
C. $1,682.40
D. $2,071.20
E. $17,071.20
The question is provided in the link here: https://i.imgur.com/sfmwHur.png
Click here to see answer by ikleyn(52775)

Question 1185107: Harry is a joiner and in the current tax year Harry expects to be paid for work he will complete on 7 houses he is helping to build.
He will be paid £8,600 each for 4 of the houses and £ 9,900 each for the other 3. He estimates his expenses will be £4,750 per house.
How much should Harry expect to make before tax in the current tax year?
If Harry receives the Standard Personal Allowance, how much tax would Harry expect to pay?

Click here to see answer by ikleyn(52775)

Question 1184926: A men’s suit manufacturer finds that the cost, in dollars, of producing suits is given by 𝐶(𝑥)=853+14√𝑥. Find the derivative of the average cost per item.
Click here to see answer by robertb(5830)

Question 1185117: If 8,000 pesos is the present value of 11,000 pesos due at the end of seven months, what is the simple discount?
Click here to see answer by Theo(13342)

Question 1185117: If 8,000 pesos is the present value of 11,000 pesos due at the end of seven months, what is the simple discount?
Click here to see answer by ikleyn(52775)

Question 1185141: Is it 841.09? I want to check my answer
Type the correct answer in the box. Use numerals instead of words. Round your answer to the nearest cent
Raquel obtained a 30-year, $185,000 mortgage at an annual interest rate of 3.6%, compounded monthly, to purchase her new home. Calculate her monthly payment on the loan.
The question is provided in the link here: https://i.imgur.com/QQZtwIn.png
Click here to see answer by MathLover1(20849)

Question 1185144: Is it C? I want to check my answer.
The Franzes are purchasing a home for $195,000, and they are using a conventional loan. What is the best estimate for what their down payment will be?
A. $5,850
B. $19,500
C. $39,000
D. $48,750
Click here to see answer by greenestamps(13198)

Question 1185147: Are these correct? I want to check my answers.
Select the correct answer from each drop-down menu.
Sara wants to purchase new equipment for her home office. The sales tax rate that will apply when she makes her purchase is 6%. Here is a list of items she wants to purchase:
keyboard, $9.99
mouse, $14.99
22-inch monitor, $99.99
chair, $129.99
If Sara has $275 to spend on new equipment for her home office, she (WILL) be able to purchase all of the items on her list because the total of her purchase after applying sales tax is ($270.26).

The question is provided in the link here: https://i.imgur.com/4gdfb1a.png
Click here to see answer by josgarithmetic(39616)

Question 1185164: Is it 841.09? I want to check my answer
Type the correct answer in the box. Use numerals instead of words. Round your answer to the nearest cent
Raquel obtained a 30-year, $185,000 mortgage at an annual interest rate of 3.6%, compounded monthly, to purchase her new home. Calculate her monthly payment on the loan
The question is provided in the link here: https://i.imgur.com/QQZtwIn.png
Click here to see answer by ikleyn(52775)

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