1. Janelle Carter deposited $9,590 in the bank on January 1, 2000, at an interest rate of 10% compounded annually. How much has accumulated in the account by January 1, 2017? Round to the nearest whole dollar. $fill in the blank ? Missing this number 2. Mike Smith deposited $24,280 in the bank on January 1, 2007. On January 2, 2017, this deposit has accumulated to $43,482. Interest is compounded annually on the account. What rate of interest did Mike earn on the deposit? Round to the nearest whole percent. fill in the blank 6 % correct answer 3. Lee Spony made a deposit in the bank on January 1, 2010. The bank pays interest at the rate of 9% compounded annually. On January 1, 2017, the deposit has accumulated to $12,070. How much money did Lee originally deposit on January1, 2010? Round to the nearest whole dollar. $fill in the blank ? Missing this number
1. Janelle Carter deposited $9,590 in the bank on January 1, 2000, at an interest rate of 10% compounded annually. How much has accumulated in the account by January 1, 2017? Round to the nearest whole dollar. $fill in the blank ? Missing this number 2. Mike Smith deposited $24,280 in the bank on January 1, 2007. On January 2, 2017, this deposit has accumulated to $43,482. Interest is compounded annually on the account. What rate of interest did Mike earn on the deposit? Round to the nearest whole percent. fill in the blank 6 % correct answer 3. Lee Spony made a deposit in the bank on January 1, 2010. The bank pays interest at the rate of 9% compounded annually. On January 1, 2017, the deposit has accumulated to $12,070. How much money did Lee originally deposit on January1, 2010? Round to the nearest whole dollar. $fill in the blank ? Missing this number
Introduction to Chemical Engineering Thermodynamics
8th Edition
ISBN:9781259696527
Author:J.M. Smith Termodinamica en ingenieria quimica, Hendrick C Van Ness, Michael Abbott, Mark Swihart
Publisher:J.M. Smith Termodinamica en ingenieria quimica, Hendrick C Van Ness, Michael Abbott, Mark Swihart
Chapter1: Introduction
Section: Chapter Questions
Problem 1.1P
Related questions
Question
Time Value of Money Concept
The following situations involve the application of the time value of money concept. Use the full factor when calculating your results.
Use the appropriate present or future value table:
FV of $1, PV of $1, FV of Annuity of $1 and PV of Annuity of $1
1. Janelle Carter deposited $9,590 in the bank on January 1, 2000, at an interest rate of 10% compounded annually. How much has accumulated in the account by January 1, 2017? Round to the nearest whole dollar.
$fill in the blank ? Missing this number
2. Mike Smith deposited $24,280 in the bank on January 1, 2007. On January 2, 2017, this deposit has accumulated to $43,482. Interest is compounded annually on the account. What rate of interest did Mike earn on the deposit? Round to the nearest whole percent.
fill in the blank 6 % correct answer
3. Lee Spony made a deposit in the bank on January 1, 2010. The bank pays interest at the rate of 9% compounded annually. On January 1, 2017, the deposit has accumulated to $12,070. How much money did Lee originally deposit on January1, 2010? Round to the nearest whole dollar.
$fill in the blank ? Missing this number
4. Nancy Holmes deposited $6,340 in the bank on January 1 a few years ago. The bank pays an interest rate of 10% compounded annually, and the deposit is now worth $19,898. How many years has the deposit been invested? Round to the nearest whole year.
fill in the blank 12 years correct answer
Transcribed Image Text:8/30/22, 11:00 AM
TABLE 9-1 Future Value of $1
(N)
Periods
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
22
24
26
28
30
2%
1.02000
1.04040
1.06121
3%
1.67342
1.74102
1.81136
1.03000
1.06090
1.09273
1.12551
1.15927
4%
1.08243
1.10408
1.12616
1.19405
1.14869 1.22987
1.17166
1.26677
1.19509
1.30477
1.21899
1.34392
1.24337
1.38423
1.53945
1.26824
1.42576
1.60103
1.29361
1.46853 1.66507
1.31948
1.51259
1.73168
1.34587
1.55797
1.80094
1.37279 1.60471
1.87298
1.40024 1.65285
1.94790
1.42825 1.70243
2.02582
1.45681
2.10685
1.75351
1.48595 1.80611 2.19112
1.54598
1.91610
2.36992
1.60844
2.03279
2.56330
2.15659
2.77247
2.28793
2.99870
2.42726
3.24340
5%
table_9-1.png (810x566)
6%
1.07000
1.14490
1.22504
1.26248.
1.31080
1.33823 1.40255
7%
1.06000
1.12360
1.19102
1.04000
1.05000
1.08000
1.10000
1.12000
1.08160
1.10250
1.16640 1.21000
1.25440
1.12486 1.15763
1.33100 1.40493
1.16986
1.21551
1.57352
1.25971
1.36049 1.46410
1.46933
1.58687 1.77156
1.21665 1.27628
1.61051 1.76234
1.97382
1.26532 1.34010
1.41852 1.50073
1.31593 1.40710 1.50363 1.60578
1.36857 1.47746 1.59385 1.71819
1.71382 1.94872
2.21068
1.85093
2.14359
2.47596
1.42331
1.55133
1.68948
1.83846
1.99900
2.35795 2.77308
1.48024 1.62889
1.79085
1.96715
2.15892
2.59374 3.10585
1.71034 1.89830
2.10485
2.33164
2.85312
3.47855
1.79586
2.01220
2.25219
2.51817
3.13843
3.89598
1.88565
2.13293
2.40985
2.71962
3.45227
4.36349
1.97993
2.26090
2.57853
2.93719 3.79750 4.88711
2.07893
2.39656 2.75903
3.17217
4.17725 5.47357
2.18287
2.95216
3.42594
4.59497
6.13039
2.54035
2.29202 2.69277 3.15882
3.70002
5.05447
6.86604
2.40662
2.85434
3.37993 3.99602
5.55992
7.68997
2.52695
3.02560
3.61653
4.31570
6.11591
8.61276
2.65330
3.20714 3.86968
4.66096
6.72750
9.64629
2.92526
3.60354
4.43040
5.43654
8.14027 12.10031
3.22510
4.04893
5.07237
6.34118
9.84973 15.17863
3.55567
4.54938
5.80735
7.39635
11.91818 19.04007
3.92013
5.11169
6.64884
8.62711 14.42099 23.88387
4.32194
5.74349
7.61226 10.06266 17.44940 29.95992
https://college.cengage.com/geyser/porter_9781337276337/images/ch09/table_9-1.png
8%
10%
12%
15%
1.15000
1.32250
1.52088
1.74901
2.01136
2.31306
2.66002
3.05902
3.51788
4.04556
4.65239
5.35025
6.15279
7.07571
8.13706
9.35762
10.76126
12.37545
14.23177
16.36654
21.64475
28.62518
37.85680
50.06561
66.21177
DISA
1/1
Transcribed Image Text:8/30/22, 10:59 AM
TABLE 9-2 Present Value of $1
(N)
Periods
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
22
24
26
28
30
2%
98039
96117
94232
92385
90573
88797
87056
.85349
83676
82035
80426
78849
77303
75788
74301
72845
71416
70016
68643
.67297
.64684
.62172
59758
57437
55207
3%
.97087
94260
91514
88849
86261
83748
81309
78941
76642
74409
72242
70138
.68095
66112
.64186
62317
60502
58739
57029
55368
52189
49193
46369
43708
41199
4%
96154
92456
88900
85480
82193
.79031
75992
73069
70259
.67556
.64958
62480
.60057
57748
55526
53391
51337
49363
47464
45639
42196
39012
36069
33348
30832
5%
95238
90703
.86384
82270
78353
74622
.71068
.67684
64461
61391
58468
55684
53032
50507
48102
45811
43630
41552
39573
37689
34185
31007
28124
25509
23138
6%
table_9-2.png (810x566)
94340
89000
83962
79209
74726
.70496
66506
.62741
59190
55839
52679
49697
46884
44230
41727
39365
37136
35034
33051
31180
27751
24698
21981
19583
17411
7%
93458
.87344
.81630
.76290
.71299
.66634
.62275
.58201
54393
50835
.47509
.44401
.41496
.38782
.36245
.33873
.31657
.29586
27651
.25842
.22571
.19715
.17220
15040
.13137
https://college.cengage.com/geyser/porter_9781337276337/images/ch09/table_9-2.png
8%
92593
.85734
.79383
.73503
.68058
.63017
.58349
54027
50025
0.46319
.42888
.39711
.36770
.34046
.31524
29189
27027
.25025
23171
21455
.18394
15770
.13520
.11591
.09938
10%
.90909
.82645
.75131
.68301
62092
.56447
51316
.46651
42410
.38554
35049
.31863
28966
.26333
23939
.21763
19784
.17986
.16351
.14864
12285
.10153
08391
06934
.05731
12%
.89286
.79719
.71178
.63552
56743
.50663
45235
40388
.36061
32197
28748
25668
.22917
20462
.18270
16312
.14564
.13004
.11611
10367
08264
06588
05252
04187
03338
15%
.86957
75614
.65752
57175
49718
43233
37594
32690
28426
24718
21494
.18691
16253
14133
.12289
.10686
09293
08081
07027
06110
04620
03493
02642
01997
01510
DISA
1/1
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