Tutors Answer Your Questions about Money Word Problems (FREE)
Question 540049: During a period of constant inflation, the value of a 215,000 property will increase according to the equation value = 215,000e^.08t where t is the time in years.
A.) what will be the property value in 12 years?
B.) How long will it take for the property to double in value?
Click here to see answer by jpg7n16(66)  |
Question 540500: Suppose you deposit $615 in an account earning 4.2% interest, compounded continuously. How much money will be in the account after 7 years?
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Click here to see answer by Alan3354(69443)  |
Question 540574: You are offered two different jobs selling dental supplies .One has an annual salary of 20,000 plus an end of the year bonus of 1% of your total sales.The other has a salary of 15,000 and a year -end bonus of 2% of your sales.How much would you have to sell to have the jobs pay the exact same amount ?
How do I solve this?
Click here to see answer by scott8148(6628)  |
Question 540794: Hi I am having trouble doing word problems. Here are the directions: Solve using the five-step problem-solving process. Show all steps necessary to arrive at your solution. Here is the question:
A woman earns 15% more than her husband. Together they make $69,875 per year. Find both salaries.
Click here to see answer by jpg7n16(66) |
Question 540867: if my current sales for the year is $175,000 and I need 35% to cover my overhead and expenses....If I want to increase my gross profit dollars by $20,000 how much do I have to increase my sales by?
Click here to see answer by jpg7n16(66) |
Question 540067: Barry says a friend told him, "my car has lost 20% of it's value each year, and I've had it for 4 years, so it's only worth 20% of what I paid for it. I'll sell it to you for that amount." An independent mechanic tells Barry that the car is in great condition. Would you advise Barry to purchase the car? Explain
Click here to see answer by jpg7n16(66) |
Question 540994: Two mechanics worked on a car. The first mechanic worked for 20 hours, and the second mechanic worked for 5 hours. Together they charged a total of $2075. What was the rate charged per hour by each mechanic if the sum of the two rates was $190 per hour?
Click here to see answer by jpg7n16(66) |
Question 540885: A bag selling 185$ is marked down 25% for special promotion. it is later marked down farther by 17 1/2% of the sale price. since it still not sold, it is marked down further to a price of 60% off the original selling price.
a) What are two sale prices of the bag?
b) What is final selling price of the bag?
Click here to see answer by jpg7n16(66) |
Question 540864: (a) Michael bought 12 pounds of flour for $5 . How many dollars did he pay per pound of flour?
(b) It takes 45 pounds of seed to completely plant a 5-acre field. How many pounds of seed are needed per acre?
If necessary, round your answers to the nearest hundredth.
Click here to see answer by jpg7n16(66) |
Question 541357: What interest rate would be needed to double an investment in 9 years using continuous compounding?
I tried using the equation A=Principal*e^(rate*time)but am not getting anywhere with it. I would extremely appreciate it if you would include the formula used along with the answer.
Click here to see answer by KMST(5328)  |
Question 541458: How much more money is earned in 10 years if $5,000 is invested at 6% compounded continuously rather than compounded annually?
A=P(1+r/m)^n
A= 5,000(1+0.06/365)^3650
A- $9110.14
A=Pe^rt
A= 5,000e^(0.06)^(10)
A= $9,110.59
This is what I did but even the difference doesn't match any of the answer possibilities.
The possibilities are:
$312.72
$156.36
$78.18
$6,110.59
Click here to see answer by jpg7n16(66) |
Question 541390: Reggie Means invested part of $30,000 in municipal bonds that earn 6.5% annual simple interest and the remainder of the money in 8.5% corporate bonds. How much is invested in each account if the total annual interest earned is $2190?
The rest of my homework has questions similar to this one, but for some reason I can't find a formula that works! If you could help me find one, I should be able to finish the rest of my homework on my own (hopefully). Thank you!
Click here to see answer by jpg7n16(66) |
Question 541121: I found simple interest, I also need to find interest compounded annually and find the amount by which the compound interest is larger. $10,240 at 10% 11 years. Also $7908.42 at 5% for 8 years. Also need the effective rate correspondig to the following nominal rates, then round to the nearest hundredth of a percent for 12% compounded monthly and 9% monthly. Thank you, I am basically looking for the solutions on how to do these types of problems.
Click here to see answer by jpg7n16(66) |
Question 541829: I have three bank accounts. They contain $7,987, $6550, and $6283.
I want to take a total of $4,791 out of the three accounts so that it leaves the same balance in each account. How do I figure that out? Thank you for your help.
Click here to see answer by Theo(13342)  |
Question 541859: If 6400 dollars is invested at an interest rate of 5 percent per year, find the value of the investment at the end of 5 years for the following compounding methods.
Give the annual, semiannual, monthly, daily, and continuously amount.
Click here to see answer by solver91311(24713)  |
Question 298618: art needs to put $1,200 into a teller's drawer. he puts 25 twenty dollar bills, 30 ten dollar bills, 24 five dollar bills, 50 one dollar bills, 80 quarters, 100 dimes, 80 nickels, and 50 pennies. how much more does he need to complete his task?
Click here to see answer by lupevel(1) |
Question 541729: I am kinda slow when working on there problems and have already work them out I am just making sure that I did them right.
Your company would like to know how sales levels affect profits. If too few items are sold, then there is a loss. Even if too many items are sold, however, the company can lose money (likely because of low pricing). It is good to know how many items can be sold for there to be profit.
Functions are very useful in many areas, such as in business to find the profit an organization is making. For example, the following function expresses profit in terms of the number of phones sold by a particular company:
P(x) = –x2 + 110x – 1,000
This function can be used to compute the profit (in thousands of dollars) from producing and selling a certain number, x, of thousands of smartphones.
Compute the following: P(5), P(50), and P(120). an Graph
Click here to see answer by ankor@dixie-net.com(22740)  |
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