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

Tutors Answer Your Questions about Money Word Problems (FREE)

Question 85253: Hello,
I'm having trouble with this word problem:

Wendell invested a portion of $10,000 at 11% annual interest and the balance at 8% annual interest. He earned $530 more interest for the year from the account earning 11% annual interest than from the account earning 8% annual interest. How much did he invest at 8%?

Thank you!!!
Click here to see answer by ptaylor(2198)

Question 85264: Kindly Solve this Problem Please.

Sorry There was no ISBN in this Book....

1. A person invested $ 15,000. The greater part is invested at 8% and smaller part at 6%. The annual income in the greater part is $ 200 more than the annual income of the smaller part. What is hte smaller part of the investment?
Click here to see answer by checkley75(3666)

Question 85250: Helllo,
I need help with this word problem:
Mrs. Lambert invested a portion of $15,000 at 10% annual interest and the balance at 6% annual interest. If her investments earned $1260 for the year, how much did she invest in each account?
Thank you!!
Click here to see answer by checkley75(3666)

Question 85372: Business and finance. Use the simple interest formula to find the principal if the total interest earned we $150 and the rate of interest was 4% for 2 years.
Click here to see answer by scianci(186)

Question 85356: Business and Finance. Use the simple interest formula to find the principal if the total interest earned was %150 and the rate of interest was 4% for 2 years.
Click here to see answer by stanbon(75887)

Question 85058: How many ways can first and second awards and three honorable mention awards be given to nine contestants?

A. 2,520
B. 126
C. 6,048
D. 15,120
Click here to see answer by scianci(186)

Question 85204: Last year Rattner Robotics had $5 million in operating income (EBIT). The company had net depreciation expense of $1 million; its coporate tax rate was 40 percent. The company has $14 million in current assets and $ 4 million in non-interest bearing current liabilities; it has $ 15 million in net plant and equipment. It estimates that it has an after tax cost of capital of 10 percent. Assume that Rattners only noncash item was depreciation.

A. What was the companys net income for the year?
B. What was the companys net cash flow?
C. What was the companys net operating profit after taxes(NOPAT)?
D. What was the companys operating cash flow?
E. If operating capital in the previous year was $24 million what was the companys free cash flow (fcf) for the year?
F.What was the company's economic Value Added(EVA)?

I need help with this and wasnt quite sure which category to place it in. Any help would be greatful.
Click here to see answer by jim_thompson5910(35256)

Question 85534: how many ways can a chair, a recording secretary and three other committee members be selected from a group of 8 people?

A. 56
B. 1120
C. 6720
D. 3136

How do I figure this problem?? These things are driving me nuts.

Click here to see answer by stanbon(75887)

Question 85535: A company borrows $75,000 which is to be repaid with equal payments semiannually for 10 years. The interest rate is 10%. Find the semiannual payments?

Help Please???
Click here to see answer by stanbon(75887)

Question 85533: A puppy and a kitten can be selected from 15 puppies and 12 kittens in ____ ways?

A. 27
B. 180
C. 150
D. 120

How is this problem figured??
Click here to see answer by Earlsdon(6294)

Question 85554: From a worksheet:
A woman invests a total of $8550 in two accounts. One pays 8% in annual interest and the other pays 7.5% interest. If she made $666.63 in interest for the first year, how much is in each account?
Click here to see answer by checkley75(3666)

Question 85552: From a worksheet:
How long will it take $1750 to triple at 9.5% simple interest?
Click here to see answer by ankor@dixie-net.com(22740)

Question 85625: Problem #1
Student Loans Student borrowers now have more options to
choose from when selecting repayment plans.* The standard
plan repays the loan in 10 years with equal monthly payments.
The extended plan allows from 12 to 30 years to repay the loan.
A student borrows $35,000 at 7.43% compounded monthly.

Find the monthly payment and total interest paid under the
standard plan.

Problem #2
Inheritance Sandi Goldstein has inherited $25,000 from
her grandfather�s estate. She deposits the money in an
account offering 6% interest compounded annually. She
wants to make equal annual withdrawals from the account
so that the money (principal and interest) lasts exactly
8 years.
a. Find the amount of each withdrawal.
b. Find the amount of each withdrawal if the money must
last 12 years.
Click here to see answer by stanbon(75887)

Question 85607: help me please if you can.

Doubling Time Suppose a conservation campaign coupled
with higher rates causes the demand for electricity to
increase at only 2% per year, as it has recently. Find the
number of years before the utilities will need to double
generating capacity.
Click here to see answer by stanbon(75887)

Question 85697: Solve the following word problems. Be sure to label the unknowns and to show the equation you use for the solution.
Business and finance. The Randolphs used 12 more gal of fuel oil in October than in September and twice as much oil in November as in September. If they used 132 gal for the 3 months, ho much was used during each month?

Click here to see answer by stanbon(75887)

Question 85686: Business and finance. Jose has savings accounts for each of his five children. They contain $215, $156, $318, $75, and $25. Find the median and the mean amount of money per account.
Click here to see answer by praseenakos@yahoo.com(507)

Question 85828: please sir,help me to solve this question fast and urgently.
the question is - mala has a beautiful necklace,made up of 5 sections,each section consisting of 4 links.once she took the necklace to a goldsmith and asked to give her an estimate to join the 5 sections into one piece necklace.the goldsmith demanded Rs 2 to cut open a link and Rs 2 to solder it together again.what is the cheapest method to get these 5 pieces joined together in one full necklace? how much would it cost?
Click here to see answer by bucky(2189)

Question 85844: A box contains 5 red and 7 green balls. How many ways can 2 balls be selected with the 2 balls the same color??

I am totally stumped???
Click here to see answer by stanbon(75887)

Question 85843: A store selects 4 items from a selection of 6 items to arrange in a display. How many different arrangements are possible?

Is my solution of 6 * 4 = 24 a correct answer or to easy???
Click here to see answer by stanbon(75887)

Question 85842: Find the monthly payments on a $2400 loan made for 18 months at 12% interest rate?

Please assist in solution and how to find solution
Click here to see answer by stanbon(75887)

Question 85841: A sinking fund is established to obtain $75,000 in five years. The interest rate is 10% and payments are made quarterly. Find the periodic payments?

Here is what I have dome so far.

I am using the formula A=R * (1+i)^n -1 / i

I am using 0.10/5 = .02 as i

I am using (quarterly means 4)* 5 years = 20 as n

in the formula.. .02 + 1 = 1.02
1.02^20 = 27.8628559 (am I correct in this sum??)-1 = 27.8628558

27.8628558/.02 = 1393.14279

75000 / 1393.14279 = 53.83511334

WHAT AM I DOING WRONG??? My possible answers to this problem are

A. 3,750
B. 2,936.03
C. 2,500
D. 2,148.65
Click here to see answer by jim_thompson5910(35256)

Question 85608: can someone please explain this problem to me thanks:
Investments Suppose $10,000 is invested at an annual rate
of 5% for 10 years. Find the future value if interest is compounded
as follows.
a. Annually
b. Quarterly
c. Monthly
d. Daily (365 days)

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

Question 85875: CAN SOMEONE SET THIS UP INTO THE FORMULA FOR ME TO SEE WHICH FORMULA IS NEEDED FOR ME TOSOLVE IT BY LOOKING AT THE SET UP. iF SOMEONE CAN THANK YOU.
Investments Suppose $10,000 is invested at an annual rate
of 5% for 10 years. Find the future value if interest is compounded
as follows.
a. Annually
b. Quarterly
c. Monthly
d. Daily (365 days)

Click here to see answer by scott8148(6628)

Question 85899: 1. Victoria's paycheck is for $x and y cents. When she cashes it the cashier accidently givese her $y and x cents. As a result Victoria has lost $95.04. HOw much was Victoria's original check for?

2. Shopko and Walmart are both offering huge saving on digital toasters. Shopko's Ad reads, "30% less than the K-Mart price". Walmart advertises, "You'd pay 35% more at K-Mart," Which store is offering the better price and by how much?

3. Shannon is the CEO of a large corporation and Emily is the president. One year the compnay makes a profit of $10,000,000 so the Board of Trustees decides to give Shannon and Emily bonuses. Shannon receives 3% of the profit after Emily's bonus is taken out and Emily receives 2% after Shannon's bonus is subtracted. How much does each woman receive (answer to the nearest whole dollar).
Click here to see answer by ankor@dixie-net.com(22740)

Question 86137: can someone show me how the book came to these answers.
Problem#1
Stereo shack sells a stereo system for $600 down and monthly payments of $30 for the next 3 yrs. If the interest rate is 1.25% per month on the unpaid balance:
a) find the cost of the stereo system
answer: $1465.42
b) Find The total amount of interest paid
answer: $214.58
Click here to see answer by stanbon(75887)

Question 86244: The ratio of the number of share of stock X to the number of shares of stock Y in Paul's portfolio is 2:3. If there are a total of 60 shares of stock in Paul's portfolio, how many shares of stock X are there?

Click here to see answer by stanbon(75887)

Question 86261: Carmen's Caf� ordered coffee beans from two different distributors at different prices. Carmen wants to combine the two types of coffee beans to make a mixture that costs $2.28 per pound. How many pounds of coffee beans that cost $2.60 per pound should be mixed with 4 pounds of coffee beans that cost $1.80 per pound to obtain the desired mixture?

Click here to see answer by uma(370)

Question 86257: The Knox Valley investment club invested $8000 at 4.6% annual simple interest. How much additional money should they invest at an annual simple interest rate of 3.6%, so that the total annual interest earned from the two accounts is 4.0% of the total investment?

Click here to see answer by stanbon(75887)

Question 86352: ) Business and finance. 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 checkley75(3666)

Question 86351: Business and finance. If the total bill at a restaurant, including a 15% tip, is $65.32, what was the cost of the meal alone?
Click here to see answer by checkley75(3666)

Question 86349: Business and finance. 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 venugopalramana(3286)

Question 86347: Business and finance. Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275, what is the interest rate on the loan?
Click here to see answer by checkley75(3666)

Question 86350: Business and finance. If the total bill at a restaurant, including a 15% tip, is $65.32, what was the cost of the meal alone?
Click here to see answer by venugopalramana(3286)

Question 86350: Business and finance. If the total bill at a restaurant, including a 15% tip, is $65.32, what was the cost of the meal alone?
Click here to see answer by josmiceli(19441)

Question 86345: Business and finance. Paul invested $5000 in a time deposit. What interest will he earn for 1 year if the interest rate is 6.5%? Identify the rate, base, and amount in this problem.
Click here to see answer by chitra(359)

Question 86342: Solve the following word problems. Be sure to show the equation you use for the solution.
Business and finance. There are 850 Douglas fir and ponderosa pine trees in a section of forest bought by Sawz Logging Co. 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 each kind did the company buy?
Click here to see answer by ptaylor(2198)

Question 86471: Solve the following word problems. Be sure to show the equation you use for the solution.
38) Statistics. A survey of 400 people found that 66 were left-handed. What percent of those surveyed were left-handed?
Click here to see answer by chitra(359)

Question 86486: I recently posted this question and a tutor was kind enough to assist me. I have a question though. The answer the tutor came up with while assisting me with this question was not one of the available answers on my homework assignment. Below is the question and the answers. The tutor that assisted me came up with $141.98.

Find the monthly payments on a $2400 loan made for 18 months at 12% interest rate.

A. $146.36
B. $149.33
C. $288.00
D. $134.66

Do I need to contact my school that their answers are wrong?
Click here to see answer by Edwin McCravy(20054)

Question 86470: Solve the following word problems. Be sure to show the equation you use for the solution.
26) Business and finance. Ms. Jordan has been given a loan of $2500 for 1 year. If the interest charged is $275, what is the interest rate on the loan?
Click here to see answer by tutorcecilia(2152)

Question 86455: Solve the following problems by writing an expression of inequality
Statistics. Sam must have an average of 70 or more in his summer course to obtain a grade of C. His first three test grades were 75, 63, and 68. Write an inequality representing the score that Sam must get on the last test to get a C grade. (Hint: Note that you must determine the score Sam needs on his fourth test to get a C in the class. Don�t forget to show the correct inequality symbol!)
Click here to see answer by ankor@dixie-net.com(22740)

Question 86456: Solve the following problems by writing an expression of inequality
Business and finance. The cost for a long-distance telephone call is $0.36 for the first minute and $0.21 for each additional minute or portion thereof. Write an inequality representing the number of minutes a person could talk without exceeding $3.
Click here to see answer by ankor@dixie-net.com(22740)

Question 86581: If you lend $3,500 to a friend for 15 months at 6.5% annual simple interst rate, how much interest must your friend pay you?
I've plugged this into the formula I=Prt / I=(3500)(.065)(15/12) but the answer isn't quite sounding right. $284.38. Am I doing this right?
Click here to see answer by tutorcecilia(2152)

Question 86580: A man buys a house for $95,000. He makes a $15,000 down payment and amortizes the rest of the debt with monthly payment over the next 15 years. The interst rate on the debt is 12%, compound monthly. Find the size of each payment.
Really lost please help!!!!!
Click here to see answer by stanbon(75887)

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