Tutors Answer Your Questions about Money Word Problems (FREE)
Question 1190991: A friend of your sells his car to a college student and take a personal note for 1200$ with no interest, payable at 100$ per month for 12 months. Your Friend immediately approaches you and offers to sell you this note. how much should you pay for the note if you want an annual yield of 12% on your investment.
Click here to see answer by Theo(13342)  |
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 MathTherapy(10551)  |
Question 1191132: A manufacturer produces three products, A, B, and C. The profits for each unit of A, B, and C sold are $1, $2, and $3, respectively. Fixed costs are $19000 per year, and the costs of producing each unit of A, B, and C are $4, $5, and $7, respectively. Next year, a total of 11,000 units of all three products is to be produced and sold, and a total profit of $25,000 is to be realized. If total cost is to be $82,000, how many units of each of the products should be produced next year?
Click here to see answer by Theo(13342)  |
Question 1191795: Ceasar opens a bank account and makes an initial deposit of $800. The banker tells Ceasar that he is going to receive an annual rate of 10% compounded continuously on his investment. Find the bank balance assuming Ceasar leaves the account untouched for 8 years.
Click here to see answer by Alan3354(69443)  |
Question 1192361: An investing advisor put 75% of a client's money into a money market fund with a 9% annual simple interest rate. The remainder was put into government securities paying 6% annual basic interest. If the total yearly interest received is Php 3300, calculate the amount invested in each.
Click here to see answer by ikleyn(52776)  |
Question 1192361: An investing advisor put 75% of a client's money into a money market fund with a 9% annual simple interest rate. The remainder was put into government securities paying 6% annual basic interest. If the total yearly interest received is Php 3300, calculate the amount invested in each.
Click here to see answer by greenestamps(13198)  |
Question 1192355: Find the balance of the account after;
2 years if K3000 is invested at 8% per annum.interest compounded quarterly
b)5years if K2000 is invested at 6% per annum,interest compounded 6 monthly.
c)4years if K5000 is invested at 12% per annum,interest compounded monthly.
d)5 1/2years if K960 is borrowed at 11% per annum,interest compounded fortnightly.
Click here to see answer by Theo(13342)  |
Question 1192473: During one month, a homeowner used 400 units of electricity and 100 units of gas for a total cost of $258. The next month, 300 units of electricity and 150 units of gas were used for a total cost of $210. Find the cost per unit of gas.
Click here to see answer by Alan3354(69443)  |
Question 1192592: A loan of 17400 dollars is to be repaid in annual installments of 2100 dollars, the first due in one year, followed by a final smaller payment. If the effective rate of interest is 8.2 percent, what is the outstanding balance owed immediately after the 5th payment?
Click here to see answer by Theo(13342)  |
Question 1192614: Nick has been depositing $ 130 in a savings account every three months for the past three years. This account paid 6 % convertible quarterly. Nick has just made the last deposit. Nick is buying a car for $ 20000. He is taking out a car loan. He will use the accumulated value of his savings account as the downpayment on the car. The loan is at 2 % convertible quarterly and has a term of 6 years. Find the size of Nick's monthly car loan payment.
Nick's monthly car payment
Click here to see answer by ikleyn(52776)  |
Question 1192613: A loan of $ 10500 is to be repaid in 43 equal monthly installments with the first one paid seven months after the loan is made. The nominal annual interest rate is 13 % compounded semiannually. Determine the amount of the monthly payment.
Amount of monthly payment
Click here to see answer by Theo(13342)  |
Question 1192656: A bag of peanuts is worth $0.20 less than the same size bag of cashews. Equal amounts of peanuts and cashews are used to make 50 bags of a mixture that is worth $1.10 per bag. How much is a bag of cashews worth? (Round your answer to the nearest cent.)
Click here to see answer by Alan3354(69443)  |
Question 1192656: A bag of peanuts is worth $0.20 less than the same size bag of cashews. Equal amounts of peanuts and cashews are used to make 50 bags of a mixture that is worth $1.10 per bag. How much is a bag of cashews worth? (Round your answer to the nearest cent.)
Click here to see answer by ikleyn(52776)  |
Question 1192667: The Texas soccer league has set a budget of $1,947 for soccer balls. High-quality game balls cost $43 each while lower-quality practice balls cost $14 each. If 79 balls are to be purchased, how many balls of each type can be purchased to exactly use up the budgeted amount?
Click here to see answer by ikleyn(52776)  |
Question 1192667: The Texas soccer league has set a budget of $1,947 for soccer balls. High-quality game balls cost $43 each while lower-quality practice balls cost $14 each. If 79 balls are to be purchased, how many balls of each type can be purchased to exactly use up the budgeted amount?
Click here to see answer by Boreal(15235)  |
Question 1192855: Dist. of Columbia Capital LLC borrows $65,200 from a bank at 5.02% compounded semi-annually for 8 years and 3 months.
a) How much will the accumulated value of the loan be at the end of the term? $
b) How much interest will be charged on the loan
Click here to see answer by Boreal(15235)  |
Question 1192860: Gabriel invested $53,300 in a mutual fund at 3.4% compounded quarterly. After 4 years, the interest rate was changed to 6.4% compounded monthly.
a) How much was the value of the fund 8 years after the rate change? $
b) How much was the total compound interest earned during the whole term?
Click here to see answer by greenestamps(13198)  |
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