Tutors Answer Your Questions about Money Word Problems (FREE)
Question 1000209: A man invests his savings in two accounts, one paying 6 percent and the other paying 10 percent simple interest per year.
He puts twice as much in the lower-yielding account because it is less risky. His annual interest is 3960 dollars.
How much did he invest at each rate?
Click here to see answer by josgarithmetic(39790)  |
Question 1210582: At the time of her grandson's birth, a grandmother deposits
$ 11,000
$11,000 in an account that pays
6 %
6% compounded monthly. What will be the value of the account at the child's twenty-first birthday, assuming that no other deposits or withdrawals are made during this period?
The value of the account will be $?
Click here to see answer by josgarithmetic(39790) |
Question 1210582: At the time of her grandson's birth, a grandmother deposits
$ 11,000
$11,000 in an account that pays
6 %
6% compounded monthly. What will be the value of the account at the child's twenty-first birthday, assuming that no other deposits or withdrawals are made during this period?
The value of the account will be $?
Click here to see answer by MathTherapy(10801)  |
Question 1210581: At the time of her grandson's birth, a grandmother deposits
$ 11,000
$11,000 in an account that pays
6 %
6% compounded monthly. What will be the value of the account at the child's twenty-first birthday, assuming that no other deposits or withdrawals are made during this period?
The value of the account will be $?
Click here to see answer by timofer(155) |
Question 1210581: At the time of her grandson's birth, a grandmother deposits
$ 11,000
$11,000 in an account that pays
6 %
6% compounded monthly. What will be the value of the account at the child's twenty-first birthday, assuming that no other deposits or withdrawals are made during this period?
The value of the account will be $?
Click here to see answer by ikleyn(53742)  |
Question 279618: Investor Company loaned out a total of $36,000, part at 6% interest and part at 9% interest. They reported that the annual earnings from both investments were the same amount that would have been earned by the total loan if it had been invested at 8%. Find the amount loaned at each rate.
Click here to see answer by ikleyn(53742) |
Question 282321: A jogger started a course at 4.5 mph. A cyclist started the same course 1 hour later at an average speed of 14 mph. How long after the jogger started did the cyclist take over the jogger? Round to the nearest tenth of an hour.
Click here to see answer by ikleyn(53742) |
Question 282321: A jogger started a course at 4.5 mph. A cyclist started the same course 1 hour later at an average speed of 14 mph. How long after the jogger started did the cyclist take over the jogger? Round to the nearest tenth of an hour.
Click here to see answer by greenestamps(13326)  |
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