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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 600534: Suppose you have a coin collection which is worth
v(t) = 50 + 2t
thousand dollars in year (t).
Now the inflation rate is r = 0.03, compounded continuously. When should you sell?
Click here to see answer by htmentor(1343)

Question 600611: Darrin deposited $1800 into an account that compounds quarterly at 5%. Which formula could he use to find the balance of his account after4 years? Assume that Darrin does not make additional deposits nor does he withdraw any of the funds.
A) A=1800(1-.04/4)^4(4)
B) A=1800(1-.05/4)^4
C) A=1800(1+.5/4)^4(4)
D) A=1800(1+.5/4)^4
E) A=1800(1+.05/4)^4(4)
Click here to see answer by jim_thompson5910(35256)

Question 600618: lynn has 159$ in her purse consisting of 20, 5 and 1s'. the number of 20s is the same as the 1s and 5s if she has 14 bills how many of each does she have?
Click here to see answer by josmiceli(19441)

Question 600650: It costs marc $5 per day to rent a kayak plus $10 for equipment at Outpost Outfitters. He can rent a kayak with equipment for $7 per day at Back Country Outfitters. Which system of equations could Marc use to find the number of days at which the total cost to rent a kayak and equipment at both places is the same? Let c = the total cost and let d = days of rentals
Please help me ASAP! THANK YOU I GREATLY APPRECIATE IT!
Click here to see answer by stanbon(75887)

Question 600643: A theater group made appearances in two cities. The hotel charge before tax in the second city was $1500 higher than in the first. The tax in the first city was 3.5%, and the tax in the second city was 4.5%. The total hotel tax paid for the two cities was 427.50. How much was the hotel charge in each city before tax?
Click here to see answer by rfer(16322)

Question 600835: A pharmacist mixed some 5%-saline solution with some 11%-saline solution to obtain 100 mL of a 9% solution. How much of the 5% solution did the pharmacist use in the mixture?

Click here to see answer by mananth(16946)

Question 600998: There is no question here. Please ask again.
Click here to see answer by konahana2(2)

Question 601079: Janie bought a shirt at American Eagle and spent a total of $36.04, paying 6% in sales tax. The shirt was marked down 15% and was originally $40. How much did Janie pay in sales tax?
Click here to see answer by solver91311(24713)

Question 601261: If you have $1 and go to the store and buy a candle for $1 then turn around and sell the candle for $3 did you double or triple your money? Please explain answer.
Click here to see answer by blkoliveoyl74(1)

Question 601311: a shirt costs 100$ with a sale of 45% off. what is the cost of the shirt?

Click here to see answer by Cherish7(7)

Question 601502: If I put 1,000 dollars on a cd for 6 months with 35% intrest rate how much with it add up to when I check on it on the 6th month.
Click here to see answer by solver91311(24713)

Question 601502: If I put 1,000 dollars on a cd for 6 months with 35% intrest rate how much with it add up to when I check on it on the 6th month.
Click here to see answer by Alan3354(69443)

Question 601472: A walnut grower sold 11,850 50-pound sacks of nuts.Of these ,5450 sacks were sold at $13 per sack and the rest were sold at $13 per sack. What was the total income from the two sales?
Click here to see answer by flame8855(424)

Question 601571: $9,000 is invested in each of two accounts, both paying 8% annual interest. In the first account, interest compounds quarterly, and in the second account, interest compounds daily. Find the difference between the accounts after 18 years. (Give your answer correct to the nearest cent.)
Click here to see answer by lwsshak3(11628)

Question 601674: If $7000 is invested at 8% compounded monthly, how much will this amount be at the end of 15 years? Use the formula, A = P (1 + r/n)^nt,where n is the number of times the investment is compounded per year. How long will it be until it is worth $12000?
I need one of the awesome tutor's to help me with this word problems, as I keep struggling trying to do the set up to solve. I get confused on how to know where to plug the values into the equation formula. Please help and explain step by step the reasoning behind the solution.
Thank you sooo much!!!
Click here to see answer by jim_thompson5910(35256)

Question 601690: Find the amount that results from the investment. $480 invested at 6% compounded continuously after a period of 4 years.
Click here to see answer by Alan3354(69443)

Question 601848: 1. a department has an annual budget of P6 billion which is divided among its 3 bureaus in the ratio of 5:3:2. how much does the bureau with the largest budget receive?
2. the selling price of a sala set and a dining set is P42,000. if the selling price of the sala set is P4,000 more than the cost of dining set. how much is the sala set?
3. mr. villar owns 4/10 of a company. if he sold 3/6 of his share to a co-stockholder. how much of the company does mr. villar still owned?
4. the sum of denia's and terry's savings is P320,000. if denia owns P190,000. how much more does she has than terry?
5. bella receives a monthly pension of P19,000 every 5th day of the month. she regularly saves 1/4 of this in the bank and spends the remeinder for her daily needs budget of P475.00 on what date of the month she will have P4,750.00 left?

please show me the solution regarding this problem... thanks for helping...
Click here to see answer by w_parminder(53)

Question 601862: mr.hart made two investments, one at 4.5% and the other at 3%. the amount invested at 3% exceeded the amount invested at 4.5% by $300. if his total annual income was $84, find the amount invested at each rate.
Click here to see answer by nerdybill(7384)

Question 602073: The football team is selling autographed school jerseys for a fund-raiser. The team buys 100 jerseys for $1,400. Each autographed jersey is sold for $25. If the team wants to make a profit of $800, write an equation that show how many autographed jerseys, J, they have to sell.
Click here to see answer by josmiceli(19441)

Question 602154: Larry invested part of his $38,000 advance at 6% annual simple interest and the rest at 9% annual simple interest. If his total yearly interest from both accounts was $2,850, find the amount invested at each rate. At 6% and 9%.
Click here to see answer by mananth(16946)

Question 602368: If you had 1,000.00 in a savings account for one year, how much interest would you earn?
Click here to see answer by jim_thompson5910(35256)

Question 602369: How much do checking accounts cost each year?
Click here to see answer by jim_thompson5910(35256)

Question 602357: Jim has $10000 to invest. He invests x dollars in tax-free municipal bonds yielding 8.5%. He invests 3 times the amount he invested in the bonds in certificates of deposit earning 9%. Jim puts the remainder of the money in a savings account at an interest rate of 5.25%.
A) express Jim's earned interest as a function of x.
B) How much total interest does Jim earn if he invests $3000 in certificates of deposits?
Please help with these questions, I am very confused.
Thank you very much.
Tony
Click here to see answer by stanbon(75887)

Question 602585: Mrs. Eubanks recieved $2000 as a wedding gift form her uncle. She wants to invest this money in a bank that will pay 4.5% interest compounded monthly. How much should she expect to have in the account after 20 years?
I am interested in knowing the formula to find the compounded interest and how to solve the answer.
Click here to see answer by stanbon(75887)

Question 602612: suppose you invest $1500 in an acount paying 4.75% annual interest. what is the account balance after 25 years with the interest compounded annualy, semiannually, quarterly and monthly
Click here to see answer by solver91311(24713)

Question 602639: a couple inherit $40000 and deposi it in a fixed term deposit that pays 4.5% p.a. compounded quarterly. They withdraw the money as soon as they have over $45000. how long did they keep the money in that account?
Click here to see answer by solver91311(24713)

Question 602921: The question asks how long will it take money to double if it is invested into an account that earns 7.5% compounded daily?
I just want to know how you would figure that out?
Click here to see answer by ewatrrr(24785)

Question 603011: How much interest is earned for the investment?
$20,000 for 2 years at 6% compounded annually

Click here to see answer by rfer(16322)

Question 602696: Suppose that a pop of rabbits is 434 & is growing at a rate of 22%. Write an exponential equation of the form f(t)=ab^t, to express.
Click here to see answer by ankor@dixie-net.com(22740)

Question 602707: I am owed 46,000 dollars it has been 54 months I want to.add 3% interest to.the debt . How much money.in interest will I be asking for????
Click here to see answer by ankor@dixie-net.com(22740)

Question 603052: Suppose that $1300 is invested at an interest rate of 4.5% per year, compounded continuously. After how many years will the initial investment be doubled?
Click here to see answer by lwsshak3(11628)

Question 603143: You have money in an account at 7% interest, compounded annually. To the nearest year, how long will it take for your money to double?
Click here to see answer by Alan3354(69443)

Question 603124: pricipal is 800.00 rate is 9% time 3 months what the simple interest is and the total amount due is
Click here to see answer by rfer(16322)

Question 603361: Steve's bank pays an annual interest rate of 2.8 percent on a savings account. The interest is compounded monthly. If Steve deposits $1,000 in a savings account, how much interest will he earn in 3 months?
Click here to see answer by ewatrrr(24785)

Question 603452: You deposit 500 in an account that pays 5% annual interest compounded continuously. What is the balance after 3 years?
Click here to see answer by lwsshak3(11628)

Question 603490: ver wonder how much a house �actually� costs? Consider Alex and Sabrina who purchased a house with a selling price of $249,000.00. They managed to put 15% down and were approved for a 30-year conventional loan at 7% to cover the remaining $211,650.00. Their new monthly mortgage payment, which combines principal and interest payments, is $1407.47. They also paid an additional 2 points at closing (points are considered prepaid interest or interest paid up front).
How much will Alex and Sabrina really end up paying for their house over the next 30 years (including points, down payment, principal, and interest)?
How much of the total cost of the house after 30 years is interest?
How much of the 1st mortgage payment is interest and how much is principal?
Click here to see answer by solver91311(24713)

Question 603915: Given A=P(1+r/n)^nt find how long it takes for an investment to double if it is invested at 5% interest compounded quarterly.
Click here to see answer by stanbon(75887)

Question 603968: You deposit $1,600 in a bank account that pays 6% interest compounded annually. What is the balance after five years?
Click here to see answer by ewatrrr(24785)

Question 604232: if a total number of dvds and cds sold is 1500, determine how many of each were sold to obtain a revenue of $10,000

Click here to see answer by flame8855(424)

Question 604298: I am SO STUCK on this problem... PLEASE HELP ASAP!!!
Suppose Kevin and Jill both deposit $4000 into their personal accounts. If Kevin�s account earns 5% simple interest annually and Jill�s earns 5% interest compounded annually, how much will each account balance show at the end of 5 years? Calculate the difference between each account.
Click here to see answer by mananth(16946)

Question 604329: Here is a question I Have been raking my brain to answer.
How much interest is earned in 4 years when $12,572 is deposited into a savingas account paying 3.26% compounded semiannually. ( Give to the nearest cent in postive numbers).
I have been using the I=P*R*T formula as
1st period ( 6months) I=12,572 * 0.326 * 0.5 = $2,049.236000 then $12,572 + $2,049.236000 = $14,621.236
2nd period (1yr) 14,621.236 * 0.326*0.5 = $2,383.261468
2,383.261468 + 14,621.236 = $17,004.48747
3rd period $17,004.48747 *0.326 * 0.5 = $2,771.733087
$2,771.733087 + 17,004.48747 = $19,776.22056
4th (2yrs)= $19,776.22056 *0.326 * 0.5 = $3,223.523951
$19,776.22056 + $3,223.523951 = $22,999.75007
5th $22,999.75007 *0.326 * 0.5 = $3,748.959261
$3,748.959261 + $22,999.75007 = $26,748.70933
6th (3rdyr) $26,748.70933 * 0.326* 0.5 = $4,360.039621
$4,360.039621+ $26,748.70933 = $31,108.74895
7th $31,108.74895 * 0.326 * 0.5 =$5,070.726079
$31,108.74895+ $5,070.726079 =$36,179.47503
8th (4thyr) $36,179.47503* 0.326 *0.5 = $5,897.254430
$5,897.254430 + $36,226.05717 = $42,123.31160
Total Interest earned = $42,123.31160- $12,572 = $29,551.31160 or $29,551.31 the answer.
Is that correct?
Click here to see answer by Alan3354(69443)

Question 604396: Tracy has 4300 in his savings account. The money in account earns 4.6% interest a year. Assuming he makes no deposits how much money will tracy have in his account at the end of the year?
Click here to see answer by flame8855(424)

Question 604324: Here is a question I Have been raking my brain to answer.
How much interest is earned in 4 years when $12,572 is deposited into a savingas account paying 3.26% compounded semiannually. ( Give to the nearest cent in postive numbers).
I have been using the I=P*R*T formula as
1st period ( 6months) I=12,5272 * 0.326 * 0.5 = $2074.38 then $12,572 + $2,074.38 = $14,646.38
2nd period (1yr) 14,646.38 * 0.326*0.5 = $2,387.35994
2,387.35994 + 14,646.38 = $17,033.70994
3rd period $17,033.70994 *0.326 * 0.5 = $2,776.494720
$2,776.494720 + 17,033.70994 = $19,810.20466
4th (2yrs)= $19,810.20466 *0.326 * 0.5 = $3,219.158257
$19,810.20466 + $3,219.158257 = $23,029.36292
5th $23,029.36292 *0.326 * 0.5 = $3,753.786155
$3,753.786155 + $23,029.36292 = $26,783.14908
6th (3rdyr) $26,783.14908 * 0.326* 0.5 = $4,365.653299
$4,365.653299 + $26,783.14908 = $31,148.80238
7th $31,148.80238 +0.326 * 0.5 =$5,077.254788
$31,148.80238 + $5,077.254788 =$36,226.05717
8th (4thyr) $36,226.05717 * 0.326 *0.5 = $5,904.847319
$5,904.847319 + $36,226.05717 = $42,130.90449
Total Interest earned = $42,130.90449 - $12,572 = $29,558.90449 or $29,558.90 the answer.
Is that correct?
Click here to see answer by KMST(5328)

Question 604521: tips to solve problems on stocks and shares
Click here to see answer by solver91311(24713)

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