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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 1189712: Jeremy cashed his weekly paycheck at the bank and asked for the money in $5 and $10 bills. The bank teller gave him 24 bills worth $170. How many $5 bills did the bank teller give him?

Click here to see answer by ikleyn(52781)

Question 1189714: Ana wants to subscribe to a movie streaming service on her TV. She has two options:
Option A charges a fee of $13.00 per month and provides unlimited movies.
Option B charges a fee of $4.00 per month plus $2.50 for each movie watched.
How many movies does Ana need to watch to make Option A worth the cost?
Click here to see answer by Theo(13342)

Question 1189739: A laboratory test machine costs 150, 000, lasts for 6 years and has a salvage value of 30, 000. How much could an investor afford to pay for another
machine of the same purpose, whose life is 10 years with a salvage value of 40,000, if money is worth 5%.
Click here to see answer by Theo(13342)

Question 1189742: A 1, 500, 000 equipment has an estimated life of 20 years with a book value of 250, 000 at the end of the period. What is the depreciation charge and its book value after 10 years using the sinking fund method?
Click here to see answer by Theo(13342)

Question 1189740: What is the value of an asset after 8 years of use if it depreciates from its original value of 500, 000 to its salvage value of 1.5% in 10 years? (Use Straight Line Method)
Click here to see answer by Theo(13342)

Question 1189744: A fabrication company engaged in production with a capacity of 150, 000 pieces per year. But, it is just operating at 70% of its full capacity. The company has an annual income of 250, 000, annual fixed cost are 50, 000 and variable costs are 1.00 pesos per unit. How many productions of parts must be produced for break-even point?
Click here to see answer by ankor@dixie-net.com(22740)

Question 1189865: A certain brand of house paint must be purchased either in quarts at $12 each or in gallons at $18 each. A painter needs a 3-gallon mixture of the paint consisting of 3 parts blue and 2 parts white. What is the least amount of money needed to purchase sufficient quantities of the two colors to make the mixture?
a)$54 b)$60 c)$66 d)$90 e)$144
Click here to see answer by ikleyn(52781)

Question 1189903: If money is invested at r percent interest, compounded annually, the amount of the investment will double in approximately 70/r years. If Pat's parents invested $5,000 in a long-term bond that pays 8 percent interest, compounded annually, that will be the approximate total amount of the investment 18 years later, when Pat is ready for college?
A. $20,000 B. $15,000 C. $12,000 D. $10,000 E. $9,000
Click here to see answer by Theo(13342)

Question 1189948: Ben purchased a computer and paid 45% of the price immediately. If he paid $810 immediately, what is the total price of the computer?
Click here to see answer by greenestamps(13200)

Question 1189955: Find how much interest $10,000 earns in 2 years in a certificate of deposit paying 7.5% interest compound quarterly
Click here to see answer by mananth(16946)

Question 1189962: Mrs. Dimawala loaned P15,000 on February 16, 2006 and promised to pay after 200 days with interest at 15% simple interest. How much will Mrs. Dimawala pay on the due date? When is the due date ?
Click here to see answer by ikleyn(52781)

Question 1189960: Find the interest on the following amounts using 6%-6 day method:
1. P6,500 at 6% for 54 days
2. P1,500 at 6% for 120 days

Click here to see answer by Alan3354(69443)

Question 1190139: In city X, the first $30,000 of someone's annual income are taxed at the rate of 5%, while any income over $30,000 is taxed at the rate of 10%. If in a certain year Betty paid $2100 in city X taxes, what was her income that year?

Click here to see answer by math_tutor2020(3817)

Question 1190150: Arlene purchased municipal bonds which yield 6% annually and certificates of deposit which yield 7% annually. If Arlene’s initial investments amount to $17,000 and the annual income is $1,150, how much money is invested in bonds?
Click here to see answer by greenestamps(13200)

Question 1190156:
Three friends got the prize money worth $170,000. The first friend would get three times the amount of the third friend's portion. The third friend would get four times the amount of the second friend's portion. Determine the amount that each friend would receive.
Click here to see answer by greenestamps(13200)

Question 1190171: Earl Thomas has received a raise from $50,000 a yr to $55000 a yr . What was Earls raise stated as a percentage? Inflation averaged 3.3% for the yr. What was earls real income after the raise? What was Earls real raise stated as a percentage ?

For the first question my answer was 10
My second answer is 53242
I am stuck in the 3rd question. I tried 55000-53242=1758 then 1758%55000x100=3.19
Click here to see answer by math_tutor2020(3817)

Question 1190209: The manager of the Sweet Candy Shop wishes to mix candy worth $4 per pound, $6 per pound, and $10 per pound to get 100 pounds of a mixture worth $7.60 per pound. The amount of $10 candy must equal the total amounts of the $4 and the $6 candy. How many pounds of each must be used?
Click here to see answer by ikleyn(52781)

Question 1190210: A merchant wishes to mix gourmet coffee selling for $8 per pound, $10 per pound, and $15 per pound to get 50 pounds of a mixture that can be sold for $11.70 per pound. The amount of the $8 coffee must be 3 pounds more than the amount of the $10 coffee. Find the number of pounds of each that must be used
Click here to see answer by ikleyn(52781)

Question 1190211: A boy scout troop is selling popcorn. There are three different kinds of popcorn in three different arrangements. Arrangement I contains 1 bag of cheddar cheese popcorn, 2 bags of caramel popcorn, and 3 bags of microwave popcorn. Arrangement II contains 3 bags of cheddar cheese popcorn, 1 bag of caramel popcorn, and 2 bags of microwave popcorn. Arrangement III contains 2 bags of cheddar cheese popcorn, 3 bags of caramel popcorn, and 1 bag of microwave popcorn. Jim needs 28 bags of cheddar cheese popcorn, 22 bags of caramel popcorn, and 22 bags of microwave popcorn to give as stocking stuffers for Christmas. How many of each arrangement should he buy?
Click here to see answer by ikleyn(52781)

Question 1190286: Rajesh would like to buy his first car and the one he has his eye on is $25,000, plus an extra 13% HST for a total price of $28,250. The dealership has a deal for $0 down payment and charges 2.79% interest on the loan. Rajesh plans to make car loan payments weekly and has accepted the maximum loan repayment period of 8 years.
How much will his weekly care loan payment be?
How much will he have paid to the dealership by the time his loan is paid off?
How much interest will be paid?
Click here to see answer by math_tutor2020(3817)

Question 1190335: Sandra deposits $3,000 at the beginning of each semiannual period for 12 years at 10% interest compounded semiannually. Determine the amount she will have in the account after 12 years. Round to the nearest cent.
a.
$130,506.00
c.
$121,291.43
b.
$140,181.30
d.
$70,568.14
Click here to see answer by math_tutor2020(3817)

Question 1190278: Ishan and Hazel plan to retire at age 60 with a retirement income of $48,000 a year from their savings. Rather than pay themselves the whole amount at the beginning of each year, they have decided that payment at the beginning of each quarter of $12,000 gives them the right balance of flexibility and maximized interest earnings. They feel they can safely earn an interest rate of 7.5%, compounded quarterly, on their money and they are budgeting based on the prediction that they will live until they are 90 years old.
How much money will they have to have saved by the time they are 60 in order to reach their retirement goal?
If they do live the full 30 years, and spend their full quarterly budget, how much money in total will they have lived on/spent in their retirement?
How much will have been earned in interest?
If they saved the same total amount of their own money, but no interest earned over the years whatsoever, how much would be available to live on each quarter?
Click here to see answer by Theo(13342)

Question 1190439: A man realizes he lost the detailed receipt from the store and only has the credit card receipt with the after-tax total. If the after-tax total was $848.00, and the tax rate in the area is 6%, what was the pre-tax subtotal?

Click here to see answer by ikleyn(52781)

Question 1190458: At a certain store, the price of a calculator is $150, the price of a radio is $75, and the price of a printer is 16 percent less than the price of a radio. By what percent is the price of a printer less than the price of a calculator?
a) 39%
b) 58%
c) 63%
d) 87%
Click here to see answer by Theo(13342)

Question 1190488: A store clerk earns $11.50 an hour before taxes. Next year, the clerk will be given a raise of $1.25 each hour. If she works h hours a week, which of the following represents her weekly wage after the raise?
a) 12.75h
b) 11.5h+1.25
c) 11.5+1.25h
d) 12.75/h
Click here to see answer by math_helper(2461)

Question 1190484: In a certain store, blue shirts are one-fifth the price of red shirts. If b blue shirts cost d dollars, what is the cost of r red shirts?
a) 5dr
b) 5brd
c) (rd)/(5b)
d) (5rd)/b
e) (5br)/d

Click here to see answer by Theo(13342)

Question 1190108: You invest $10,000 in Rapid Growth Funds, which appreciate by 5% per year, with yields reinvested quarterly. By how much (in dollars) will your investment have grown after 4 years? (Round your answer to the nearest cent.)
Click here to see answer by Theo(13342)

Question 1190113: A real estate company sells its premium house model at 2,500,00.00 Php. One can pay it in cash or installment basis where in a buyer is required to make a down payment and pay the balance with interest for a period of not more than 10 years. Down payment is 25% of contract price. Monthly installment is 30,000.00 Php for 10 years. However, a sales agent found a customer who is interested to buy a premium house model.
1.) What is the total commission if the sales agent earns 3% of down payment and 1% of the monthly installments for 10 years?

Click here to see answer by Theo(13342)

Question 1190634: Hak Young has accumulated some credit card debt while he was in college. His total debt is now $13,864.82 and his credit card charges 19% interest compounded monthly. He is getting worried about his debt and is determined to pay it off completely .
What would Hak Young’s minimum payment have to be in order to pay off his debt in 5 years?
What will be the total interest paid?
Q5 relate to question 4
Hak Young is daunted by that monthly payment amount and is trying to figure out how he can make paying off his loan more manageable. He went to his bank and found out he could get a personal line of credit that he could then use to pay off his credit card. The line of credit has an interest rate of 9.75% compounded monthly .
Assuming he still planned to pay off his debt in 5 years, what would his monthly payments to the bank be now?
What will be the total interest paid?

So only Answer the Question 5
Thanks

Click here to see answer by math_tutor2020(3817)

Question 1190635: An entrepreneur bought computers for his business, twice as many laptops as fixed equipment. The fixed equipment is worth $14,500.00 and the laptop $5,800.00. If he spent a total of $130,500.00, what was the total amount of equipment he purchased?
Click here to see answer by math_tutor2020(3817)

Question 1190657: You expect to retire in 15 years. After you retire, you want to be able to withdraw $2,500 from your account each month for 20 years.
If your account earns 5% interest compounded monthly, how much will you need to deposit each month until retirement to achieve your retirement goals? (Round to the nearest cent.)
I've tried to do this but I think I got the wrong answer
Click here to see answer by Theo(13342)

Question 1190668: find the present value that will generate the indicated future value

Click here to see answer by greenestamps(13200)

Question 1146251: You want to buy a $35,000 car. You can make a 10% down payment, and will finance the balance with a 4% interest rate for 48 months (4 years). What will your monthly payments be?

Click here to see answer by math_tutor2020(3817)

Question 1190709: jovy had coin in her mini bank that amounted to 45.50,if she had 7 more 50-centavo coins than 1-peso coins in her bank,how many 50-centavo coins and 1-peso coins had she collected?
Click here to see answer by ikleyn(52781)

Question 1190760: The function V(t) = -4 800 (t) + 30000, where it is time in years, can be used to find the value (V) of a computer unit during the first 5 years of use. What is the value of the computer after 2 years?
Click here to see answer by Alan3354(69443)

Question 1190714: Aya and Sakura would like to buy a house and their dream home costs $500,000. Their goal is then to save $50,000 for a down payment and then would take out a mortgage loan for the rest. They plan to put their monthly saved amount in a conservative mutual fund that has a track record of a 5.2% rate of return. To be sure they don’t go spending this money on other things, they are going to move it into their investment account at the beginning of each month. Their hope is to be able to buy this home in 7 years.
What would their monthly savings amount have to be to reach this goal?
What will be the total interest earned be?
Click here to see answer by Theo(13342)

Question 1190847: In a store, a 40% discount was applied to the price P of an item. In another store, a 50% discount was applied to the price Q of the same item. In both stores the final price after applying the discount was $18. What is the difference, in dollars, between prices P and Q?
Click here to see answer by math_tutor2020(3817)

Question 1190916: Suppose $2000 is deposited in an account paying 2.5% interest compounded quarterly. What will the account balance be after 12 yr?
Click here to see answer by josgarithmetic(39617)

Question 1190656: You want to be able to withdraw $40,000 each year for 25 years. Your account earns 7% interest.
a) How much do you need in your account at the beginning? (Round up to the whole dollar.)
b) How much total money will you pull out of the account?
c) How much of that money is interest?

Click here to see answer by Theo(13342)

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