Financial Math Answers

On Mary's July water bill, the previous reading was 1237 ccf and the current reading was 1245 ccf. The water company charges $5.12 per ccf of water. In August, it was discovered that the July current reading was incorrect. It should have been 1241 ccf. How much of a credit will Mary receive for her over payment?

How many ccf of water is used if you are charged $35 on your bill and water costs $5.90 per ccf? Round your answer to the nearest hundredth

Sales at LL Boutique decreased 10% this month compared to last month. If sales this month were $130,581, what were the sales (in $) last month?

Gary and Ann have a joint account. Their balance at the beginning of October was $9,145.87. During the month they made deposits totaling $2,783.71, wrote checks totaling $4,871.90, paid a maintenance fee of $12, and earned $11.15 in interest on the account. What was the balance at the end of the month?

Steven had a balance of $1,200 in his first stare bank checking account. He deposits a $387.89 paycheck, a $437.12 dividend check, and a personal check for $250 into his account. He wants to receive $400 in cash. How much will he have in his account after the transaction?

Steven had a balance of $1,200 in his first state bank checking account. He deposits a $387.89 paycheck, a $437.12 dividend check, and a personal check for $250 into his account. He wants to receive $400 in cash. How much will he have in his account after the transaction?

Village Finance Co. advanced three loans to Kamiko—$4,200 on June 20, $3,800 on August 25,and $3,300 on October 29. Simple interest at 8.25% was charged on all three loans, and all were repaid on December 31 when some bonds that she owned matured. What total amount was required to pay off the loans?

James loves buying antique and sells it out someday. He loves so because he believes that it will give him more wealth. But James wants to maximize his profit by any mean. Given an antique that costs $2,000,000, and it inflates 6%, the bank rate is 12%, loan period is 20 years, payments and rates are considered annually. James has two plans: i. He borrows $2,000,000 to buy the antique. ii. Instead of buying the antique, James would use the annual payment to do investment in the stock market. Suppose it gives 12% annual return. Which plan will James choose if he wants to maximize his wealth after 20 years? 

Jonah invests R4500 in a savings account. The interest rate for the first 4 years is 9 % per year, compounded monthly, thereafter the interest rate changes to 10% per year, compounded half yearly, for the next 5 years. Determine the amount that Jonah will have in his savings account at the end of the term.

If an investment of $400 pays 8% simple interest per year, then what would be the value of the investment after 3 years