Tutors Answer Your Questions about Money Word Problems (FREE)
Question 542438: Andrew invests a total of 120,000 in two different accounts. the first account earns 5% while the second account ears 6% if the total interest earned after one year is 6700 what principal was invested in each account?
Click here to see answer by mananth(16946)  |
Question 542769: Suppose a particular bank gives 3% interest on its savings accounts, compounded monthly. If one opens a savings account and deposits $ 300 each month for a total of 11 years, how much money will be in the account after the last deposit is made?
Click here to see answer by solver91311(24713)  |
Question 542951: A woman has $19,000 to invest in two funds that pay simple interest at the rates of 4% and 6% per year. Interest on the 4% fund is tax-exempt; however, income tax must be paid on interest on the 6% fund. Being in a high tax bracket, the woman does not wish to invest the entire sum in the 6% account. Is there a way of investing the money so that she will receive $1000 in interest at the end of one year? I have tried x+y=19000 and 0.4x+0.6y=1000... I have also tried x+y=1000 and 0.4x+0.6y=19000.
Click here to see answer by jpg7n16(66) |
Question 543115: Amanda invests $25,000, part at 5% and the rest at 6%. The annual return on the 5% investment exceeds the annual return on the 6% investment by $40. How much did she invest at each rate?
I know that I have to form an formula, but I'm not sure how. We didn't go over this in class. : (
Click here to see answer by jpg7n16(66) |
Question 543366: As an entrepreneur, there may be times when you must borrow money to fund the start of your business. You have just graduated from college, and your dream is to start your own business. Before you start your dream business, you need to research funding options.
Think of a business that you would like to own. Do research using the Internet to find more information about loans for small-business owners.
Discuss how small-business loans work and your options for obtaining a loan.
Discuss the process and procedures for obtaining the loan.
Report your findings in 2 paragraphs.
Click here to see answer by jpg7n16(66) |
Question 542082: A coin bank contains only nickels, dimes, and quarters. The value of the 31 coins in the bank is $2.80.There are twice as many nickels as dimes. Find the number of each type of coin in the bank.
So far I have done: Dimes=x
Nickels=2x
Quarters=(31-x)
Dimes= 10 times x
Nickels= 5 times 2x
Quarters= 25 (31-x)
5(2x)+10x+25(31-x)=280
10x+10x+775-25x=280<-----doesn't look right.
I believe I am messing up on the quarters section.
Click here to see answer by jpg7n16(66) |
Question 543313: A sub shop purchases a used pizza oven for $605. After 5 years, the oven will have to be replaced. Write a linear equation giving the value V of the equipment during the 5 years it will be in use.
Click here to see answer by jpg7n16(66) |
Question 544381: Linda invested her savings in two investment funds. The amount she invested in Fund A was twice as much as the amount she invested in Fund B. Fund A returned a 7% profit and Fund B returned a 3% profit. How much did she invest in Fund A, if the total profit from the two funds together was $1700?
Click here to see answer by mananth(16946)  |
Question 544788: Over 2 years, how much more does $2000 in a savings account with an APR of 5.2% compounded quarterly earn in interest than the same amount in a savings account with an APR of 4.8% compounded monthly?
A. $8.31
B. $16.61
C. $4.15
D. $33.22
Click here to see answer by rfer(16322) |
Question 545213: Could someone please tell me if my answer is correct?
I have 13.9%
Question is The interest rate "r" to in crease your investemnt "p" to the amount "a" in "t" years is found br "r" = index "t" (radicand a/p)-1. What interest rate would be required to increase your investment of $2700. to $3600. over three years? Thank you
Click here to see answer by Alan3354(69443)  |
Question 545664: Good evening, I need assistance with this interest problem and would greatly appreciate your help. Jim is able to sell a hand-carved statue for $670 which was a 35% profit over his cost. How much did the statue originally cost him?
A. $496.30
B. $512.40
C. $555.40
D. $574.90
E. $588.20
the answer is A $496.30 but I do not understand how they have got the solution to that problem. what I have gotten so far is that I multiplied 670 with .35 and the answer is 234.5 then I took the answer and subtracted it from 670 which the answer 435.5
Click here to see answer by Alan3354(69443)  |
Question 545664: Good evening, I need assistance with this interest problem and would greatly appreciate your help. Jim is able to sell a hand-carved statue for $670 which was a 35% profit over his cost. How much did the statue originally cost him?
A. $496.30
B. $512.40
C. $555.40
D. $574.90
E. $588.20
the answer is A $496.30 but I do not understand how they have got the solution to that problem. what I have gotten so far is that I multiplied 670 with .35 and the answer is 234.5 then I took the answer and subtracted it from 670 which the answer 435.5
Click here to see answer by stanbon(75887) |
Question 545688: You want to have a $75, 000 college fund in 15 years. how much will you have to deposit now in an account with an APR of 6% and monthly compounding?
I am having a really hard time with the formula for this and entering it into my calculator correctly. Please help me. I have a final tomorrow and I want to pass with flying colors. Thank you in advance for your time.
Meranda
Click here to see answer by rfer(16322) |
Question 545777: $48 in tips is to be divided among a restaurant's three waiters. Briana gets three times more than Jenny and Julis recieves four times as much as Jenny. How much does Julia Recieve and how do you write the equation?
Click here to see answer by neatmath(302)  |
Question 545854: A sidewalk vendor has 3 items on sale namely, a pocketbook for $50,a wall clock at $30, and a pencil at $1. At the end of the day he has sold a total of 100 items for a total sale of $1000. How many pocketbooks were sold?
Click here to see answer by JBarnum(2146)  |
Question 546168: Please help me with this question. Our school does not provide books so this is all I got.
DeShawn's school is selling tickets to a choral performance. On the first day of tickets sales the school sold 4 Adult tickets and 11 child tickets for a total of $65. The school took in $142 on the second day by selling 14 adult tickets and 10 child tickets. Find the price of an adult ticket and the price of a child ticket.
So I figured:
4A + 11B = 65
and
14A + 10B = 142
Can you help me from here?
Thanks in advance.
Jenny
Click here to see answer by scott8148(6628)  |
Question 546873: I was having trouble solving this word problem.
Say you sale cars
Your first $12,000 you get .11 commission
Any portion over $12,000 you get .9 commission
How much do you make in commission if you sale a car that is $16,790?
Click here to see answer by mananth(16946)  |
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