1. An engineer invests $7350 at the end of every year for a 30-year career. If the engineer wants $1 million in savings at retirement, what interest rate must the investment earn?
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Engineering Econ HW6 Q1
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- ויוי in c) Linda needs $10,000 in 4 years to use as a down payment on a house. She has $6830 to invest today. What amount of interest does she need to earn to make this happen?answer quicklyEdward wants to take a long trip around Europe 7 years from now. He estimates that he will need $12,000 to finance the trip. Edward has found a stock portfolio that generates a 8% yearly rate of return. How much does Edward need to invest today to afford the trip? Round to the nearest dollar, do not enter a dollar sign.
- Q) Joe just completed his engineering degree and started to work for an engineering firm. Joe wants to retire early after 30 years working. He plans to invest $5,000 at the end of every year for a 30-year career. If Joe needs $3,954,750 in savings at retirement, what interest rate must the investment earn?An engineer invests $7350 at the end of every year for a 30-year career. If the engineer wants $1 million in savings at retirement, what interest rate must the investment earn?What type of interest is the capital invested in a transaction is principal and at any time after the investment of the principal, the sum of the principal and the interest due is future amount?
- 7. Leon and Heidi decided to invest $3,000 annually for only the first eight years of their marriage. The first payment was made at age 20. If the annual interest rate is 12%, how much accumulated interest and principal will they have at age $65?How can we calculate the effective interest rate, altering the period value?altering the period value?QUESTION 1 Muhammad takes out a loan of $ 2,130, at 8% simple interest, for 8 years. How much will he pay back at the end of year 8? QUESTION 2 Calculate the amount of interest on an investment of AED 103,971 at 8% simple interest for 5 years. QUESTION 3 If you deposit today $7,335 in an account for 6 years and at the end accumulate $10,885, how much compound interest rate (rate of return) you earned on this investment ? QUESTION 4 You will deposit 12,025 at 10% simple interest rate for 9 years, and then move the amount you would receive to an investment account at 12 % compound rate for another 3 years. How much money would you have at the end of the entire period ?
- Question 1 Due to health reasons, Dave is considering early retirement. He currently has $700,000 in a self- managed retirement fund. He thinks he will need S40,000 per year during retirement. He intends to invest his retirement in a low-risk mutual fund which return 1.5% per year. How many years can he live off this retirement fund without the need to look for a job?Ron invest $2000 in a savings account that gives him a simple interest rate of 6% for 3 years. A. how much interest the investment earns and B. how much money he has after 3 years?8. If a used car costs $5000, how much would you need to pay every month if you took out an amortized loan at 6% interest with monthly payments for 2 years? In total, how much would you end up paying for the car? How much interest would you pay?
