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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 37853: If $10,000 and $4000 are invested such that $1250 is earned in one year, and if the rate of interest on the larger investment is 2% more than that of the smaller investment, find the rates of interest. The answers are $10,000 at 9.5% and $4000 at 7.5%, I just don't know how to get them.
Click here to see answer by fractalier(6550)

Question 37805: If $10,000 and $4000 are invested such that $1250 is earned in one year, and if the rate of interest on the larger investment is 2% more than that of the smaller investment, find the rates of interest.
Click here to see answer by fractalier(6550)

Question 37884: if f(x)=4x-3, find the following (solve it for a numerical answer):
f(-1)
Click here to see answer by checkley71(8403)

Question 37803: Donna invested her $33,000 bonus and reieved a tatal of $970 in interest after one year. If part of the money returned 4% and the remainder 2.25% then how much did she invest at each rate?
THANK U :)
Click here to see answer by checkley71(8403)

Question 38110: Use the compound interest equation to find how long, to the nearest tenth of a year, it will take a $5000 investment to double if it is invested at 7% interest compounded quarterly. The answer is 10.0 years, I just can't figure out how to get it.
Click here to see answer by fractalier(6550)

Question 38220: Paul invested $5000 in a time deposit. What interest will he earn for 1 year if the interest rate is 6.5%?
Click here to see answer by fractalier(6550)

Question 38285: The electricity costs of a business decreased from $12,000 one year to $10,920 the next. What is the rate of decrease?
Click here to see answer by checkley71(8403)

Question 38285: The electricity costs of a business decreased from $12,000 one year to $10,920 the next. What is the rate of decrease?
Click here to see answer by fractalier(6550)

Question 38435: If $1000 is invested at 7.5% compounded annually, find the future value that results in 30 years to the nearest $1.
Click here to see answer by fractalier(6550)

Question 38477: A man paid the bank $4,080 at the end of 3 years. This was the amount borrowed plus 12% interest for 3 years. How much money had he borrowed?
Click here to see answer by Paul(988)

Question 38464: Could you please explain how the rule of 72 works. I understand that it is an easy way to figure out how many years it would take to double your money, but I get very confused about why it works. How do I use a logrithm to solve it? I just don't understand logs at all. I know that they are exponents, right? I'm lost
Click here to see answer by stanbon(75887)

Question 38568: 4. A man earned $3500 the first year he worked. If he received a raise of $600 at the end of each year, what was his salary during the 15th year?
Click here to see answer by fractalier(6550)

Question 38631: Find the final amount of the investment. $10,000 invested at 6% compounded quarterly for 5 1/2 years. (end of problem)
I've put this in my TI-83 calculator 20 times... and it still comes out 58,374.99. What am I doing wrong?
I know the formula is A=P(1+r/t)^rt
Can you help?
Click here to see answer by rapaljer(4671)

Question 38839: If Bob earns a 6% commission on all of his sales and one month he earned $1050, what were his sales that month?
Click here to see answer by Nate(3500)

Question 38959: Hi! If you could can you help me on this problem?
Elena has one and a half times as much money as Ramon. Together they have $225. How much does each have?
Thanks.
Click here to see answer by fractalier(6550)

Question 39127: I can not figure out what formula to use. I have the answer in the back of the book but cannot figure out a formula to get me there. The question is: David split his $25,000 inheritance betwen Fiderlity Short Term Bond Fund with an annual yield of 5% and T Rowe price with an annual yield of 4%. If his total income for one year on the two investments was $1140, then how much did he invest in each fund? Please help - I have not done algebra in 40 years and these word problems are killing me. thank you.
Click here to see answer by fractalier(6550)

Question 39238: Saul's father is thinking about buying his son a six-month move pass for $40.00. With the pass, movies cost $1.00. If a movie is normally $3.50 each, how many times would Saul need to attend in order for the pass to be beneficial?
My teacher assigned this problem, and I need to solve it in three (3) different ways. For my first way, I made a chart.
Movies at $1.00 at $3.50
1 $1.00 $3.50
2 $2.00 $7.00
3 $3.00 $10.50
4 $4.00 $14.00
...And so on and so forth. It becomes beneficial at 12 movies, where a regular priced movie would have a running total of $42.00.
My second method was to graph it. I don't need help with that piece.
I cannot think of a third method to solve this problem. Any help would be greatly appriciated.

Click here to see answer by longjonsilver(2297)

Question 39629: Jose has savings accounts for each of his five kids. They contain 215,156,318,75,25. Find the median and the mean amount of money per account.
Click here to see answer by checkley71(8403)

Question 40055: If a 4.4-pound bag of dog food costs $3.52, what is the cost per pound?
Click here to see answer by fractalier(6550)

Question 40122: If I invest 2975 dollars for 11 years at 5% compounded annually, how much would i have?
Click here to see answer by Nate(3500)

Question 40125: Whats the annual interest rate, to the nearest 10th of a percent, for $1839 to grow to $25187 if the interest is compunded yearly for 38 years
Click here to see answer by Nate(3500)

Question 40123: If I invest 11000 dollars for 5 years at 11% compounded quarterly, how much would i have?
Click here to see answer by Nate(3500)

Question 40217: Business & Finace A coffee merchant has coffee beans that sell for $9 per pound and $12 per pound. The two types are to be mixed to create 100 lb. of a mixture that will sell for $11.25 per pond. How much of each type of bean should be used in the mixture?
Click here to see answer by fractalier(6550)

Question 40179: Jill has $3.50 in nickels and dimes. If she has 50 coins, how many of each type of coin does she have?
Click here to see answer by fractalier(6550)

Question 40348: one thousand dollars in a savings account pays 7% interest per year. The interest earned after the first year is added to the account. How much interest is earned on the new principle the following year?
Thanks you very much

Click here to see answer by Nate(3500)

Question 40342: $700 simple interest was earned over 4 years on an investment of $2500. What was the annual rate?
Click here to see answer by Nate(3500)

Question 40347: How long will it take a $9000 investment to earn $180 interest at an annual interest rate of 8%?
Thanks you very much

Click here to see answer by Nate(3500)

Question 40468: IF 14000 is invested at 10% simple annual interest, how much should be invested at 12% annual simple interest so that the total yearly income from both investments is 5000?
Click here to see answer by Nate(3500)

Question 40346: How much money should be invested in an annual interest rate of 8% in order to earn $250 of yearly interest?

Thanks you very much

Click here to see answer by Nate(3500)

Question 40354: Miraculous Music, Inc. finds that the cost to make x compact discs is C = 7x + 10,237, while the revenue produced from them is R = 20x (C and R are in dollars). What is the smallest whole number of compact discs, x, that must be sold for the company to show a profit?
Click here to see answer by Nate(3500)

Question 40687: 58) If the total bill at a restaurant including a 15% top, is 65.32 , what was the cost of the meal alone?
Click here to see answer by Nate(3500)

Question 40693: 2.6 52)

The electricity costs of a business decreased from 12,000 one year to 10,920 the next. what is the rate of decrease?
Click here to see answer by Nate(3500)

Question 40693: 2.6 52)

The electricity costs of a business decreased from 12,000 one year to 10,920 the next. what is the rate of decrease?
Click here to see answer by checkley71(8403)

Question 40698: 2.6 26

Mr. jordan has ben a given of 2,500 for 1 year. If the interest charged is 275, what is the interest rate on the loan?
Click here to see answer by Nate(3500)

Question 40701: 20)
paul invested 5,000 in a time depsoit.what interest will he earn for 1 year if the interest rate is 6.5%
Click here to see answer by Nate(3500)

Question 40701: 20)
paul invested 5,000 in a time depsoit.what interest will he earn for 1 year if the interest rate is 6.5%
Click here to see answer by stanbon(75887)

Question 40653: if a salesman is paid $140 commission on the sale of a 2,800 sailboat.what is his commision rate.
Click here to see answer by checkley71(8403)

Question 40649: there62ee are 850 douglar fir and ponderosa pine trees in a secion of forest bought by sawn. the company paid an average of 300 for each douglas fir and 225 for each ponderosa pine. if the company paid 217,500 for the trees,how many of rach kind did the company buy.
Click here to see answer by checkley71(8403)

Question 40730: Finance Example � Break Even Analysis.
The break even point for a business is given by the formula:

where:
B = units sold to breakeven point
F = fixed costs
P = price per unit
V = variable costs
a. Suppose EducateComp knows its fixed costs are $100,000, its variable costs are
$500 per copy of AlgeComp, and they must to sell 15000 copies of AlgeComp to
break even the first year. What is the minimum price per unit they should charge?

B) Total revenue is given by the formula TR = FC + TVC + Profit, where:
TR = total revenue
FC = fixed costs
TVC = total variable costs
EducateComp�s Sales Department has established a sales goal 35000 units. If
they achieve their sales goal, what will they profit?
TR = FC + TVC + Profit
Profit = TR + FC � TVC
Profit = (units sold)(price per unit) � fixed costs � (units sold)(variable costs)
Click here to see answer by venugopalramana(3286)

Question 40729: . Finance Example � Break Even Analysis.
The break even point for a business is given by the formula:

where:
B = units sold to breakeven point
F = fixed costs
P = price per unit
V = variable costs
a. Suppose EducateComp knows its fixed costs are $100,000, its variable costs are
$500 per copy of AlgeComp, and they must to sell 15000 copies of AlgeComp to
break even the first year. What is the minimum price per unit they should charge?
Click here to see answer by venugopalramana(3286)

Question 41061: I cannot seem to figure the last part of this one out. The problem reads :
You would like to take a cruise in six years. THe cruise currently costs $4250. You expect the price to increase by 4% annually. You can earn 5% on your savings. How much do you need to save at the end of each month so you will be able to afford the cruise in six years.
Here is what I have so far.
FV=PV*(1+r)^t
FV= 4250*(1+.04)6
FV=$5377.61 (cost of cruise)
Then to find how much I need to save each month I've tried using
PV=FV/(1+r)^t
PV=5377.61/(1+.05)^t
and I got
PV=160.29 (as what I need to save each month) but if I go back and multiply that times 72 months (6 years) It says I'll be saving 1154.88 wich is too much. Any help is appreciated. Thank you.
Click here to see answer by rajagopalan(174)

Older solutions: 1..45, 46..90, 91..135, 136..180, 181..225, 226..270, 271..315, 316..360, 361..405, 406..450, 451..495, 496..540, 541..585, 586..630, 631..675, 676..720, 721..765, 766..810, 811..855, 856..900, 901..945, 946..990, 991..1035, 1036..1080, 1081..1125, 1126..1170, 1171..1215, 1216..1260, 1261..1305, 1306..1350, 1351..1395, 1396..1440, 1441..1485, 1486..1530, 1531..1575, 1576..1620, 1621..1665, 1666..1710, 1711..1755, 1756..1800, 1801..1845, 1846..1890, 1891..1935, 1936..1980, 1981..2025, 2026..2070, 2071..2115, 2116..2160, 2161..2205, 2206..2250, 2251..2295, 2296..2340, 2341..2385, 2386..2430, 2431..2475, 2476..2520, 2521..2565, 2566..2610, 2611..2655, 2656..2700, 2701..2745, 2746..2790, 2791..2835, 2836..2880, 2881..2925, 2926..2970, 2971..3015, 3016..3060, 3061..3105, 3106..3150, 3151..3195, 3196..3240, 3241..3285, 3286..3330, 3331..3375, 3376..3420, 3421..3465, 3466..3510, 3511..3555, 3556..3600, 3601..3645, 3646..3690, 3691..3735, 3736..3780, 3781..3825, 3826..3870, 3871..3915, 3916..3960, 3961..4005, 4006..4050, 4051..4095, 4096..4140, 4141..4185, 4186..4230, 4231..4275, 4276..4320, 4321..4365, 4366..4410, 4411..4455, 4456..4500, 4501..4545, 4546..4590, 4591..4635, 4636..4680, 4681..4725, 4726..4770, 4771..4815, 4816..4860, 4861..4905, 4906..4950, 4951..4995, 4996..5040, 5041..5085, 5086..5130, 5131..5175, 5176..5220, 5221..5265, 5266..5310, 5311..5355, 5356..5400, 5401..5445, 5446..5490, 5491..5535, 5536..5580, 5581..5625, 5626..5670, 5671..5715, 5716..5760, 5761..5805, 5806..5850, 5851..5895, 5896..5940, 5941..5985, 5986..6030, 6031..6075, 6076..6120, 6121..6165, 6166..6210, 6211..6255, 6256..6300, 6301..6345, 6346..6390, 6391..6435, 6436..6480, 6481..6525, 6526..6570, 6571..6615, 6616..6660, 6661..6705, 6706..6750, 6751..6795, 6796..6840, 6841..6885, 6886..6930, 6931..6975, 6976..7020, 7021..7065, 7066..7110, 7111..7155, 7156..7200, 7201..7245, 7246..7290, 7291..7335, 7336..7380, 7381..7425, 7426..7470, 7471..7515, 7516..7560, 7561..7605, 7606..7650, 7651..7695, 7696..7740, 7741..7785, 7786..7830, 7831..7875, 7876..7920, 7921..7965, 7966..8010, 8011..8055, 8056..8100, 8101..8145, 8146..8190, 8191..8235, 8236..8280, 8281..8325, 8326..8370, 8371..8415, 8416..8460, 8461..8505, 8506..8550, 8551..8595, 8596..8640, 8641..8685, 8686..8730, 8731..8775, 8776..8820, 8821..8865, 8866..8910, 8911..8955, 8956..9000, 9001..9045, 9046..9090, 9091..9135, 9136..9180, 9181..9225, 9226..9270, 9271..9315, 9316..9360, 9361..9405, 9406..9450, 9451..9495, 9496..9540, 9541..9585, 9586..9630, 9631..9675, 9676..9720, 9721..9765, 9766..9810, 9811..9855, 9856..9900, 9901..9945, 9946..9990, 9991..10035, 10036..10080, 10081..10125, 10126..10170, 10171..10215, 10216..10260, 10261..10305, 10306..10350, 10351..10395, 10396..10440, 10441..10485, 10486..10530, 10531..10575, 10576..10620, 10621..10665, 10666..10710, 10711..10755, 10756..10800, 10801..10845, 10846..10890, 10891..10935, 10936..10980, 10981..11025, 11026..11070, 11071..11115, 11116..11160, 11161..11205, 11206..11250, 11251..11295, 11296..11340, 11341..11385, 11386..11430, 11431..11475, 11476..11520, 11521..11565, 11566..11610, 11611..11655, 11656..11700, 11701..11745, 11746..11790, 11791..11835, 11836..11880, 11881..11925, 11926..11970, 11971..12015, 12016..12060, 12061..12105, 12106..12150, 12151..12195, 12196..12240, 12241..12285, 12286..12330, 12331..12375, 12376..12420, 12421..12465, 12466..12510, 12511..12555, 12556..12600, 12601..12645, 12646..12690, 12691..12735, 12736..12780, 12781..12825, 12826..12870, 12871..12915, 12916..12960, 12961..13005, 13006..13050, 13051..13095, 13096..13140, 13141..13185, 13186..13230, 13231..13275, 13276..13320, 13321..13365, 13366..13410, 13411..13455, 13456..13500, 13501..13545, 13546..13590, 13591..13635, 13636..13680, 13681..13725, 13726..13770, 13771..13815, 13816..13860, 13861..13905, 13906..13950, 13951..13995, 13996..14040, 14041..14085, 14086..14130, 14131..14175, 14176..14220, 14221..14265, 14266..14310, 14311..14355, 14356..14400, 14401..14445, 14446..14490, 14491..14535, 14536..14580, 14581..14625, 14626..14670, 14671..14715, 14716..14760, 14761..14805, 14806..14850, 14851..14895, 14896..14940, 14941..14985, 14986..15030, 15031..15075, 15076..15120, 15121..15165, 15166..15210, 15211..15255, 15256..15300, 15301..15345, 15346..15390, 15391..15435, 15436..15480, 15481..15525, 15526..15570, 15571..15615, 15616..15660, 15661..15705, 15706..15750, 15751..15795, 15796..15840, 15841..15885, 15886..15930, 15931..15975, 15976..16020, 16021..16065, 16066..16110, 16111..16155, 16156..16200, 16201..16245, 16246..16290, 16291..16335, 16336..16380, 16381..16425, 16426..16470, 16471..16515, 16516..16560, 16561..16605, 16606..16650, 16651..16695, 16696..16740, 16741..16785, 16786..16830, 16831..16875, 16876..16920, 16921..16965, 16966..17010, 17011..17055, 17056..17100, 17101..17145, 17146..17190, 17191..17235, 17236..17280, 17281..17325, 17326..17370, 17371..17415, 17416..17460, 17461..17505, 17506..17550, 17551..17595, 17596..17640, 17641..17685, 17686..17730, 17731..17775, 17776..17820, 17821..17865, 17866..17910, 17911..17955, 17956..18000, 18001..18045, 18046..18090, 18091..18135, 18136..18180, 18181..18225, 18226..18270, 18271..18315, 18316..18360, 18361..18405, 18406..18450, 18451..18495, 18496..18540, 18541..18585, 18586..18630