Tutors Answer Your Questions about Money Word Problems (FREE)
Question 898610: A consumer electronics sales person earns a base salary of $1500 per month and a commission of 8% on the amount of sales he makes. one month he received a $2060 paycheck. find the amount of his sales for the month
Click here to see answer by ewatrrr(24785)   |
Question 898674: Hello everyone, I really just need some help in determining the formula for this problem- Suppose that $3500 is placed in an account that pays 11% interest compounded each year.Assume that no withdrawals are made from the account. 1) find the amount in the account at the end of 1 year. 2)find the amount in the account at the end of 2 years.
Click here to see answer by ewatrrr(24785) |
Question 898953: A promotional deal for long distance phone service charges a $15 basic fee plus $0.05 per minute
for all calls. If Joe's phone bill was $66 under this promotional deal, how many minutes of phone calls did he make? Round to the nearest integer, if necessary.
Click here to see answer by josgarithmetic(39617) |
Question 898956: Suppose you invest money in two accounts. One of the accounts pay 8% annual interest, whereas the other pays 9% annual interest. If you have $8,000 more invested at 9% than you invested at 8%, how much do you have invested in each account if the total amount of interest you earn in a year is $1,060?
Click here to see answer by mananth(16946)  |
Question 899168: A pair of pants costs twice as much as a shirt. The total cost of 1 pair of pants and 1 shirt is $18. If s represents the cost of 1 shirt, which equation could you use to find the cost of 1 shirt?
Click here to see answer by rfer(16322) |
Question 899235: You invested $27,000 into two accounts. One paying 3% annual interest, the other paying 4% annual interest. If the total interest earned for the year was $870, how much was invested into each account at each rate?
Explain, and please show work?
Click here to see answer by richwmiller(17219)  |
Question 899353: The annual interest on a $15,000 investment exceeds the amount of interest earned by a $1000 investment by $410. The $15,000 is invested at a .4% higher rate of interest than the $1000 investment. What is the rate of interest for each investment?
Your help is appreciated! I can't seem to figure it out!
Click here to see answer by mananth(16946) |
Question 899353: The annual interest on a $15,000 investment exceeds the amount of interest earned by a $1000 investment by $410. The $15,000 is invested at a .4% higher rate of interest than the $1000 investment. What is the rate of interest for each investment?
Your help is appreciated! I can't seem to figure it out!
Click here to see answer by MathTherapy(10552)  |
Question 899334: Derek sold walking sticks. Had he charged $10 extra for each stick he would have made $1,800. However, had he sold 10 more sticks at the original price he would have made $2,000.
a) How many sticks did he sell?
b) How much was each stick?
Click here to see answer by hk(4) |
Question 899334: Derek sold walking sticks. Had he charged $10 extra for each stick he would have made $1,800. However, had he sold 10 more sticks at the original price he would have made $2,000.
a) How many sticks did he sell?
b) How much was each stick?
Click here to see answer by mananth(16946) |
Question 899358: Juanita has 22000 to invest in two accounts that pay simple interest on an annual basis. one account pays 3% in simple interest, and other pays 6% simple interest how much would she have to invest in each account to earn a total interest of $810 after one year?
Click here to see answer by mananth(16946) |
Question 899463: Olive wants to invest $15,000 with the goal of earning 10% interest. She wants to put some of the money in an investment that has been earning 7% a year and the rest of the money in an investment that typically earns 11% a year. How much money should be invested at 11% interest for Olive to obtain her goal of an overall 10% interest?
Click here to see answer by richwmiller(17219) |
Question 899568: Maria bought 80 stamps at the post office in 33¢ and 25¢ denominations. If she paid $24 for the stamps, how many of each denomination did she buy?
Here is what I tried:
x=33¢ denomination
y=25¢ denomination
x+y=80
x=-y+80
33(x)+25(y)=24
33(-y+80)+25y=2400
-33y+(-2640)+25y=2400
Added 2640 to both sides
8y=50.4
Divide both sides by 8
y=6.30
x=-6.30+80
x=50.4
which Ido not think is right but I can not figure what I am doing wrong :(
Click here to see answer by ewatrrr(24785) |
Question 899568: Maria bought 80 stamps at the post office in 33¢ and 25¢ denominations. If she paid $24 for the stamps, how many of each denomination did she buy?
Here is what I tried:
x=33¢ denomination
y=25¢ denomination
x+y=80
x=-y+80
33(x)+25(y)=24
33(-y+80)+25y=2400
-33y+(-2640)+25y=2400
Added 2640 to both sides
8y=50.4
Divide both sides by 8
y=6.30
x=-6.30+80
x=50.4
which Ido not think is right but I can not figure what I am doing wrong :(
Click here to see answer by richwmiller(17219) |
Question 899731: Joe received a bonus of $20000 at the end of the year for exceptional performance on the job. He decides to invest the money into two different investment vehickles, one paying 5% interest, the other 6.5% interest. At the end of the year, the total interest earned from both accounts, together, was $1240. Find the amount invested in each account.
Click here to see answer by mananth(16946) |
Question 899766: pam earns $468 per year in simpler interest by investing part of her money at 8% and the rest at 6%. if she invests $2000 more of her money at 8% than she invests at 6%, how much money did she invest at 8%?
Click here to see answer by mananth(16946) |
Question 899881: The annual interest on a $9000 investment exceeds the interest earned on a $6000 investment by $135. The $9000 is invested at a 0.5% higher rate of interest than the $6000. What is the interest rate of each investment?
Click here to see answer by ewatrrr(24785) |
Question 899973: Wendy was awarded a volleyball scholarship to the University of Michigan, so on graduation her parents gave her the $20,000 they had saved for her college tuition. She opted to invest some money in a privately held company that pays 10 % per year and evenly split the remaining money between a money market account yielding 2 % and a high-risk stock that yielded 40 %. At the end of the first year she had $23,320 total. How much did she invest in each of the three?
Click here to see answer by josmiceli(19441)  |
Question 900059: Juanita has 28,000 to invest in two accounts that pay simple interest on an annual basis. One account pays 5% in simple interest and the other account pays 2%. How much would she have to invest in each account to earn a total interest of $830.00 after one year?
Click here to see answer by richwmiller(17219) |
Question 900219: You invested $7000 in two accounts paying 7% and 6% annual interest, respectively. If the total interest earned for the year was $433, Let x denote the amount of money invested at 7%. Find an expression in terms of x for the amount invested at 6%.
Click here to see answer by richwmiller(17219) |
Question 900237: the financial manager of a college newsletter determine that 1000 copies of the newsletter will be sold if the price is 50 cents and that the number of copies sold decrease by 10 for each 1 cent added to the price. What price will yield the largest gross income from sales and what is the largest gross income?
Click here to see answer by lwsshak3(11628) |
Question 900416: "A taxi driver would like to earn $5,000 per year in supplemental income from an inheritance of $80,000. If the driver invests $20,000 in a mutual fund paying 8%, what rate must he earn on the remainder to achieve his goal?"
I'm just having trouble putting the information given into an equation to be solved.
Click here to see answer by richwmiller(17219) |
Question 900538: Marion receives a monthly base salary of $1000. On the first $10,000 of sales above her monthly quota of $20,000, she is paid a commission of 8%. On any additional sales, the commission rate is 10%. What were her gross earnings for the month of August, in which she had sales amounting to $38,670?
Click here to see answer by josmiceli(19441) |
Question 900538: Marion receives a monthly base salary of $1000. On the first $10,000 of sales above her monthly quota of $20,000, she is paid a commission of 8%. On any additional sales, the commission rate is 10%. What were her gross earnings for the month of August, in which she had sales amounting to $38,670?
Click here to see answer by stanbon(75887) |
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