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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 341495: Help me solve this word problem 1 If $24,000 is invested for one year at 5.5% simple interest, how much interest is earned? 2 If Gloria received a raise of 12 percent and is now making $25,760 a year, what was her salary before the raise?
Click here to see answer by rfer(16322)

Question 341741: susan Mariano invested part of her $27000 bonus in a fund that paid an 11% profit and invested the rest in stock that suffered a 3% loss. Find the amount of each investment if her overall profit was $1990
Click here to see answer by checkley77(12844)

Question 341721: Please help me solve this word problem! Thank you! :)
The bill for your automobile repairs was $335. The cost for the labor was $45 per hour per mechanic. The cost for materials was $110. If two mechanics worked together on your car, how many hours did it take them to finish?
Click here to see answer by checkley77(12844)

Question 341704: Find the interest on $3000 at 12.5% annual interest for 1 year?
Click here to see answer by Jeannie1012(8)

Question 341717: Please help me solve this word problem.
The state sales tax in New York is 0.0425 (or 4.25%). Your total bill at the department store included $2.21 in sales tax. One half of the merchandise puchased was nontaxable. What was the total bill?
Click here to see answer by checkley77(12844)

Question 341685: Compact discs cost $16.99 each and cassette tapes cost $8.99 each. If the total bill equaled $78.93, how many of each were bought?
Click here to see answer by checkley77(12844)

Question 342034: 20. Find the amount of money in an account after 12 years if $12,500 is deposited at 8.25% annual interest compounded daily (assume 365 days in a year).
Answer:

Click here to see answer by jim_thompson5910(35256)

Question 342049: A salesperson's weekly income is determined by a salary of $250 per week and 11% commission on his sales exceeding $1000. Express the salesperson's weekly income (I) as a function of his sales (s) when his sales exceed $1000.
It's in a program where answers are given and originally I thought it to be I(s)=250+.11s, but this is not correct. Help?
Click here to see answer by scott8148(6628)

Question 342315: How do I figure out this word problem? "A couple does not want to spend more than $90 dollars for dinner at a resturant. If the sales taxx of 5% is added to the bill and they plan to tip 15% after the tax has been added, what is the most the couple can spend?" I believe you need to set up a quadratic exation like 90 = .05x + .15(.05x)+ x but I'm not sure.
Click here to see answer by mananth(16946)

Question 342352: This year's soybean crop of 224,000 tons represents an increase of 40% over last year's crop. How many tons of soybean were produced last year?
Click here to see answer by nyc_function(2741)

Question 342421: You invest $200 into a savings account that earns 2% simple interest. How long will it take to earn $50 in interest? What is the formula that is needed?
Click here to see answer by kcanil08(11)

Question 342377: Nico is saving money for his college education. He invests some money at 5%, and $1900 less than that amount at 4%. The investments produced a total of $185 interest in 1 yr. How much did he invest at each rate?
Click here to see answer by checkley77(12844)

Question 342172: A total of 4000 was invested,part of it at 8% interest and the remainder at 9%. if the total yearly interest amounted to $ 350, how much was invested at each rate
Click here to see answer by nyc_function(2741)

Question 342568: Your piggy bank contains $19.75 in dimes and quarters. There are 100 coins in all. How many dimes are there?

Click here to see answer by ankor@dixie-net.com(22740)

Question 342776: How long will it take $700 to double itself at 7% simple interest?
Click here to see answer by jim_thompson5910(35256)

Question 342934: Wilbur received a 4.3% raise in salary and now makes 33,750 per year. To the nearest dollar, what was his old salary?
Click here to see answer by stanbon(75887)

Question 343010: Solve the equation for the indicated variable.
a + 4 /b = a − 4/b + b + 4/a
; solve for a
Click here to see answer by Fombitz(32388)

Question 342958: The small box held 18 ounces and $2.52. The big box held 44 ounces and cost $6.60. Using unit prices, which box was the better buy?
Click here to see answer by checkley77(12844)

Question 343332: A professor wants to supplement her pension with investment interest. If she invests $31,000 at 6% interest, how much more would she have to invest at 7% to achieve a goal of $2,560 per year in supplemental income?

Click here to see answer by mananth(16946)

Question 343329: A pound of tin is worth $1 more than a pound of copper. Two pounds of tin are mixed with 8 pounds of copper to make bronze that sells for $3.30 per pound. How much is a pound of tin worth?

Click here to see answer by mananth(16946)

Question 343395: Three tacos cost a total of $1. 17. How many tacos can be purchased for $15.21?
Click here to see answer by nyc_function(2741)

Question 343452: Amy made $234 for 18 hours of work. At the same rate, how many hours would she have to work to make 91?
Click here to see answer by solver91311(24713)

Question 343380: What does "set the cost expression equal to the revenue expression", mean? Here is the problem that I don't know how to work; The cost C to produce x number of skateboards is C=100 +20x. The skateboards are sold wholesale for $24 each, so revenue R is given by R=24. Find how many skateboards the manufacturer needs to produce and sell to break even.

Click here to see answer by scott8148(6628)

Question 333761: 3. As a professional photographer, Marion has seen the trend away from film cameras as customers purchase low-end digital cameras and printers in order to avoid processing fees associated with film-based cameras. She would like to offer a new service to customers by offering superior quality digital printing using advanced pigment inks to produce high-quality color prints. In order to offer this service, Mario will need to invest in a state-of-the-art photo printer through her photography supply company at a list price of $7,895, plus sales tax of 7.25%. The supply company is offering cash terms of 3/15, n/30 with a 2.5% service charge on late payments, or 90 days �same as cash� financing if Marion is approved for a company credit card. They also offer a payment plan (for the purchase price and the sales tax) at 23% annual simple interest for the first 90 days, plus 2% simple interest per month on the unpaid balance after 90 days.
She calls the supply company to inquire about the terms and makes some notes:
- 3/15 means 3% discount (only on the price, not the sales tax) if paid within 15 days of purchase
- n/30 with 2.5% service charge on late payments means she can pay the cash price until 30 days, or cash price plus 2.5% after 30 days
- 90 days �same as cash� means that if she applies for and is approved for a company credit card, she can pay the cash price up to 90 days after purchase.
a. (5 points) If Marion takes the cash option and pays for the printer within the 15 day discount period, how much will she save?
Answer:
b. (5 points) If she takes the 90 days same as cash option and purchases the printer on December 20, using exact time, what is her deadline for paying no interest in a non-leap year? How about in a leap year? [Find using exact time]
Answer:
c. (5 points) If Marion takes the 90 days �same as cash� option and pays within 90 days, what is her payoff amount? If she can�t pay until April 20, how much will she owe? (Assume ordinary interest, exact time, and a non-leap year)
Answer:

Click here to see answer by lplaud84(1)

Question 343951: 100 item for 16.99 each how much is that
Click here to see answer by edjones(8007)

Question 343951: 100 item for 16.99 each how much is that
Click here to see answer by stanbon(75887)

Question 343960: how much is 779.87 times 30 and devide by 2
Click here to see answer by stanbon(75887)

Question 343959: .

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Question 343796: I have a word problem and this is what is reads:
A college book store makes 23.2 cents on each dollar for profit. The average student spends $940 dollars a year on books. How much of this expenditure go to the college store?
These problems are made to be difficult so I feel like I'm missing a step somewhere. I would think that is would just simply be 23.2 cents of $940 which is $40.52 approximately. Is this correct?
Click here to see answer by ankor@dixie-net.com(22740)

Question 343869: My question is this: Lotty has $5 in nickles,dimes, and quarters. She has 3 times as many nickles as dimes. She has 5 times as much money in quarters as she does in nickles. How much of each does she have? (btw...the answer I got was that she would have 5 dimes, 15 nickels, and 15 quarters...but again, I got that with trial and error...they add up right but i dont know how to write an equation to show how to get those as answers...)So, I guess the thing I need help with is trying to find an equation to show how I got my answers. If you could help me, I would really appreciate it! Thank you.
Click here to see answer by ankor@dixie-net.com(22740)

Question 344233: Kurt invest $5,000 in an account with a 6.25% intreast rate a year. After how many years will his investment be $10,000?
I really prefer a example and formula so I know how to do it myself instead of just a answer. Thanks.
Click here to see answer by Alan3354(69443)

Question 344360: i have a word problem which i cannot find a formula for it? the problem goes like this "some office workers bought a $35 gift for their boss. if there had been two more employees to contribute everyones cost would have been $2 less.How many workers contributed to the gift?
Click here to see answer by scott8148(6628)

Question 344366: A civic club charters a bus for one day at a cost of $575. When 2 more people join the group each persons cost decreases by $2. How many people were in the original group.

Thought you might solve this by 575/4 or (575-2)4 but it didn't seem to work please help thanks
Click here to see answer by Fombitz(32388)

Question 344518: Josh can but 10 roses for $8.00, how many can he buy with $18.00?

Click here to see answer by stanbon(75887)

Question 344643: If Ben invests $4000 at 3% interest per year, how much additional money must he invest at 4.5% annual interest to ensure that the interest he receives each year is 3.5% of the total amount invested?
Click here to see answer by mananth(16946)

Question 344712: how much is 10 % of 225,000.00 dollars
Click here to see answer by stanbon(75887)

Question 345281: If 2 litre of pop is $2.25 and 750ml is $1.05 which pop has the better price/ml if 1 litre equals 1000 ml
Click here to see answer by rfer(16322)

Question 345340: a total of $8000 is invested. part at 7% and the remainder at 15%. how much is invested at each rate if theannual intrest is 680$?
Click here to see answer by Fombitz(32388)

Question 345408: How long will it take money to double if it is invested at 21% compounded continuously? ""invested at 33% compounded continuously?
Click here to see answer by Fombitz(32388)

Question 345397: Find the markup on a CD player whose wholesale cost $219 and whose retail price is $395.
Click here to see answer by unlockmath(1688)

Question 345614: A person deposited $500 in a savings account that pays 5% annual interest that is
compounded yearly. At the end of 10 years, how much money will be in the savings
account?
Click here to see answer by Fombitz(32388)

Question 345842: Adrienne deposited some money in an account earning 4.5% simple interest and $3000 more than this in an account earning 6% simple interest. After one year, she earned a total of $390 in interest. How much did she deposit in each account?
Click here to see answer by scott8148(6628)

Question 345984: A broker invested $24,000 in two mutual fnds, one earning 9% annual interest and the other earning 10%. After 1 year, the combined interest income is $2117. How much was invested at each rate?
Click here to see answer by Fombitz(32388)

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