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

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Question 887719: The scrap value at the end of its useful life is given by S(n)=C(1-r)^n, Where C is the original cost, n is the useful life of the machine in years, and r is the constant annual percentage of value lost. Find the scrap value of the original machine. Original Cost: $52,000; Life: 11 years; annual rate of value lost:11%
Click here to see answer by stanbon(75887)

Question 887644: Jill paid $36 for calendars marked down $5 apiece from the original price. If she had bought them at the original price, she could have gotten 5 few calendars. How many calendars did she buy?
Click here to see answer by ankor@dixie-net.com(22740)

Question 887738: The scrap value at the end of its useful life is given by S(n)=C(1-r)^n, Where C is the original cost, n is the useful life of the machine in years, and r is the constant annual percentage of value lost. Find the scrap value of the original machine. Original Cost: $50,000; Life: 10 years; annual rate of value lost:15%
Click here to see answer by stanbon(75887)

Question 887746: If I purchased items for a fundraiser for $2.00 each and sold them for $4.00 each what is my profit percentage ?
Click here to see answer by jim_thompson5910(35256)

Question 887658: A philanthropist has donated $ 350,000.00 to habitat for humanity . the funds are to be set up in a trust account with them proceeds from interest earned to be used to build new homes. At a return rate of 4.5% and using them simple interest formula, how many months will it take to earn $40,000.00, then average amount it takes to build a house? Round your answer two decimal places. I thought the problems usually would tell you a certain time like in years I've tried working the problem I just really don't understand
Click here to see answer by ankor@dixie-net.com(22740)

Question 887660: When the admission price to a game is �0.50, 10,000 people attend. For every increase of �0.05 in the admission price, 200 fewer people attend. Find the admission price that yields the largest income. What is the largest income?
Many thanks in advance for your help.
Click here to see answer by ankor@dixie-net.com(22740)

Question 887994: IF YOU HAD 2000.00 AT 3% INTEREST NEVER TOOK ANY OUT. HOW MUCH WOULD IT BE AT THE END OF 26 YEARS?
Click here to see answer by Fombitz(32388)

Question 887993: IF YOU HAD 2000.00 AT 3% INTERESRED AND NEVER TOOK ANY OUT. HOW MUCH WOULD IT BE AT THE END OF 26 YEARS?
Click here to see answer by Fombitz(32388)

Question 3285: Tom invested 13,000.00 for one year, part at 9 percent annual interest and the rest at 7 percent annual interest. How much must he invest at 9 percent to get $1000.00 in interest in a year?
Click here to see answer by Tanzina ahamed(5)

Question 888194: "If 14% of a workforce is 18,000 employees then what is 100% of the workforce?"
Click here to see answer by rfer(16322)

Question 888246: If there are "about" 300 million Americans and 0.17 adults like baseball, "about" how many baseball fans are there?

Click here to see answer by jim_thompson5910(35256)

Question 887787: After one interest period, the interest earned on a $7000 investment exceeds the interest earned on a $5000 investment by $160. The interest rate for the $5000 investment is 1.6% greater than the interest rate for the $5000 investment. Find the interest rates for the two investments.
Click here to see answer by lwsshak3(11628)

Question 888237: (a) The future value of $400 in two years that earns 5 percent.
(b) The future value of $1,200 saved each year for ten years that earns 7 percent..
(c) The amount a person would need to deposit today with a 5 percent interest rate to have $2,000 in three years.
(d) The amount a person would need to deposit today to be able to withdraw $6,000 each year for ten years from an account earning 6 percent.
(e) A person is offered a gift of $5,000 now or $8,000 five years from now. If such funds could be expected to earn 8 percent over the next five years, which is the better choice?
(f) A person wants to have $3,000 available to spend on an overseas trip four years from now. If such funds could be expected to earn 7 percent, how much should be invested in a lump sum to realize the $3,000 when needed?
(g) A person who invests $1,200 each year finds one choice that is expected to pay 9 percent per year and another choice that may pay 10 percent. What is the difference in return if the investment is made for 15 years?
(h) A person invests $50,000 in an investment that earns 6 percent. If $6,000 is withdrawn each year, how many years will it take for the fund to run out?

Click here to see answer by oscargut(2103)

Question 888431: Last year Elisabeth invested a quarter of her money in a credit union paying 3% interest, two thirds of her money in mutual fund paying 3.5% and rest of her money in a GIC paying 2.5% interest. IF her annual investment income was $653.33 last year how much did she invest.
I am getting 30,744.9 0.09+0.14+0.025=7839.96 the LCD was 12 and multiplied 653.33 x 12. the divided 7839.96/0.255= 30,744.9 is my answer correct.
Click here to see answer by richwmiller(17219)

Question 888531: Please help me solve this
A $120,000 home mortgage for 30 years at 7 1/2% has a monthly payment of $839.06. Part of the monthly payment goes toward the interest charge on the unpaid balance, and the remainder of the payment is used to reduce the principal. The amount that goes toward the interest is given by:
u equal M minus open parentheses M minus fraction numerator P r over denominator 12 end fraction close parentheses open parentheses 1 plus r over 12 close parentheses to the power of 12 t end exponent
and the amount that goes toward the reduction of principal is given by:
v equal open parentheses M minus fraction numerator P r over denominator 12 end fraction close parentheses open parentheses 1 plus r over 12 close parentheses to the power of 12 t end exponent
In these formulas, P is the size of the mortgage, r is the interest rate, M is the monthly payment, and t is the time (in years).
(a) Approximate the time when the monthly payment is is evenly divided between interest and principal reduction.
(b) Repeat the problem for a repayment period of 20 years (M = $966.71).
Thanks
Click here to see answer by Theo(13342)

Question 888529: Not sure if this will be too much but I need assistance with this problem.
What to do? (Hint: 200 x D is the same as 200D)
1. Option 1 - buy the part for 300 dollars per part.
2. Option 2 - purchase a machine that requires one operator (machine costs: 100,000 dollars and variable costs are 85 dollars per widget).
3. Option 3 - purchase a "no human needed machine" (machine costs: 250,000 dollars and variable costs are 30 dollars per widget).
Now then, find the breakeven point for "demand" (D) between options 1 and 2; 2 and 3. (Not you are not/not to find the breakeven point for "demand for 1 and 3).
Find the breakeven point like this:
a. For 1/2
Cost per part (times (I'll use the symbol * to represent times) (D) = Fixed costs + Variable Cost per part * (D)
Remember, you're solving for "D"
b. For 2/3
Fixed costs + Variable Cost per part * (D) (for option 2) = Fixed costs + Variable Cost per part * (D)
Remember, you're solving for "D"
c. If demand is 1,500 widgets, which option is best?
d. If demand is 3,000 widgets, which option is best?
e. If demand is 300 widgets, which option is best?

Click here to see answer by Theo(13342)

Question 888508: for a taxi ride, there is a fixed charge of 2.80 plus a charge of 2.15 per mile.
a) write a model for the total cost, C(x), to ride x miles in the taxi.
b) if sallys taxi ride costs 26.45 find the number of miles sally rode in the taxi
Click here to see answer by josgarithmetic(39613)

Question 888637: Joe invested his savings in two investment funds. The $2,000 that he invested in Fund A returned a 2% profit. The amount that he invested in Fund B returned a 5% profit. How much did he invest in Fund B, if both funds together returned a 4% profit?
Click here to see answer by richwmiller(17219)

Question 888607: Bobbi Reutter invested some money at 7% and 100 less than at 8%. Her total annual interest was $58. How much did she invest at each rate?
Click here to see answer by mananth(16946)

Question 888592: Doris invested some money at 5% and some money at 6%. She invested $5,000 more at 6% than she did at 5%. Her total yearly interest from the two investments was $630. How much did Doris invest at each rate?
and
The income from a student production was $36,000. The price of a student ticket was $9, and nonstudent tickets were sold at $15 each. Three thousand tickets were sold. How many tickets of each kind were sold?
Click here to see answer by mananth(16946)

Question 888697: Two workers earn �300 between them. One worker gets �25 more than the other how much do they each get. please explain the workings out for this one. b Williams
Click here to see answer by Fombitz(32388)

Question 887775: A bus company has 3,000 passengers daily, paying a $1.25 fare. For each 25� increase in fare, the company estimate that it will lose 80 passengers. What is the smallest increase in fare that will produce a $4,970 daily revenue

Click here to see answer by Edwin McCravy(20054)

Question 888740: After 9 months, the simple interest earned on an investment of $1200 is $72 Find the interest rate.
Click here to see answer by rfer(16322)

Question 888940: if 2500 equals 1% then what would 3100 equal
Click here to see answer by Fombitz(32388)

Question 888880: find the amount to be paid at the end of 3 years in each case
(A)principal=1200 Rs at 12% p.a
Click here to see answer by Fombitz(32388)

Question 888950: If interest is compounded continuously at 4.5% for 7 years, how much will a $2000 investment be worth at the end of 7 years?
Click here to see answer by Theo(13342)

Question 889002: what will/would �180.00per month for 20 years @ say 5% compound? amount to,please
Click here to see answer by richwmiller(17219)

Question 889021: A small business bought 10 computers costing $1,200 each, 5 costing $2,000 each, and 4 costing $3,500 each. what is the median price, in dollars, of the computers?

Would i list them out or do you add all the total and divide by the number of computers, which is 19?
Click here to see answer by stanbon(75887)

Question 889024: If the annual interest rate on a credit card statement is 2.6%, what is the weekly interest rate? Round your solution to two decimal places.
Click here to see answer by jim_thompson5910(35256)

Question 889061: Alex bought 2 lbs of apples and 3 lbs of potatoes and payed $7. Later, Alex bought 1 lb of apples and 3 lbs of potatoes and payed $4. How much does each lb cost. In potatoes and apples.
Please solve asap! :) thank you.
Click here to see answer by richwmiller(17219)

Question 889084: Joshua's canteen sells a whole pizza for $12 or one sixth of a pizza for $2.50. How much more does Joshua make on each pizza by selling it in pieces
Click here to see answer by josmiceli(19441)

Question 889079: Diane invests $3500 part at 3%, part at 4%. How much does she invest at each rate if she receive in one year interest at $115?
Click here to see answer by lwsshak3(11628)

Question 889046: 1. How long will it take for an investment of $25,000 to double at an interest rate of 4% compounded semi-annually? Give your answer in years and months, rounded to the nearest month.
Click here to see answer by Fombitz(32388)

Question 889255: A woman earns $2700 per month and budgets $459 per month on food. What % of her m8nthly income is spent on food?
Click here to see answer by nerdybill(7384)

Question 889390: Andrew, Brenda and Cammi all work part-time at a
supermarket. Cammi earns $20 more than Andrew and
Brenda earns $30 less than twice Andrew�s wage. If
their total combined wage is $400, find how much each of these workers earns.
Click here to see answer by JulietG(1812)

Question 889372: Mike and Dan bought a foot long sub sandwich and decided that it would be fair for Dan to have a third more of the sandwich than Mike. How many inches did each receive?
Click here to see answer by JulietG(1812)

Question 889480: Miguel deposits $2000 into an account that pays simple interest at a rate of 2% per year. How much interest will he be paid in the first 2 years?

Click here to see answer by rfer(16322)

Question 889495: How long will it take $3000 to double if it is invested in an account that pays 3% compounded continuously?
Click here to see answer by Alan3354(69443)

Question 889496: If $8000 is invested in an account that pays 4% interest compounded continuously, how much is in the account at the end of 10 years?
Click here to see answer by Lapric(19)

Question 889498: How long will it take $4000 to triple if it is invested at 5% compounded continuously?
Click here to see answer by Alan3354(69443)

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