(Solved) Business Application Question- Math Help

iqrahttpp

wrote...

Go to Answer

Posts: 18

Rep:

3 years ago

Business Application Question- Math Help

Hello, one of my homework question's requires myself to create a business real-life application question, this is the one I created
Lisa receives a large inheritance. She wants to invest part of it at 8% and $25,000 more than this amount at 15%. To earn $1200 per year in interest.
a) How much is invested at 8% and 15%?
Just wanted to know your thoughts, does it make sense & is it solvable?
I also need a part b) and c) to this question but couldn't think of one at the moment, and couldn't find much research, any suggestions?

Read 750 times

11 Replies

Report

Replies

bio_man

wrote...

Educator

3 years ago

How about this one:

Lisa acquires a loan of $90,000. A bank offers here the loan at 3.1% interest, amortized at 10-years, compounded monthly.

a) Calculate Lisa's monthly debt payments.

b) What percent of the total paid is interest?

c) How would the payment change if the amortization period changes to 5-years?

Report

iqrahttpp Author

wrote...

3 years ago

thanks that is so much better! I'm going to try to solve it now

Report

iqrahttpp Author

wrote...

3 years ago

Hi! so this is what I got for the first one, wasn't sure about the last 2, would you mind going over them? Not sure if I did the calculations right, Thanks!

Attached file

Thumbnail(s):

You must login or register to gain access to this attachment.

Report

iqrahttpp Author

wrote...

3 years ago

Oh and I forgot to mention, that the question has to include each of the following; i) algebraic representation of the function, ii) numeric representation of the model, iii) a graphical representation of the problem. In which, the question in this case does represent a algebraic and numeric representation, but wasn't sure about a graphical representation? Any thoughts/suggestions?
Sorry for including this late.

Report

bio_man

wrote...

Educator

3 years ago

Yeah, it should. Do you want me to solve it for you?

By the way, have you learned about mortgages and that sort of math? We don't want to create a question that's beyond your scope -- teacher may get suspicious...

Report

iqrahttpp Author

wrote...

3 years ago

yes that would give me a better understanding for future questions like that! and we have done a few financial application questions such as simple interest rate, compounded monthly, etc stuff like that.

Report

Answer verified by a subject expert

bio_man

wrote...

Educator

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.

Business Application Question- Math Help

Related Topics