pls answer 2 and 3 asap 1. What is the future equivalent of $1,000 invested at 6% simple interest per year for 2½years?2. A present obligation of $20,000 is to be repaid in equal uniform annual amounts, each ofwhich includes repayment of the debt (principal) and interest on the debt, over a periodof five years. If the interest rate is 10% per year, what is the amount of the annualrepayment?3. It is estimated that a copper mine will produce 10,000 tons of ore during the comingyear. Production is expected to increase by 5% per year thereafter in each of thefollowing six years. Profit per ton will be $14 for years one through seven.a. Draw a cash flow diagram for this copper mine operation from the company'sviewpoint.b. If the company can earn 10% per year on its capital, what is the future equivalent ofthe copper mine's cash flows at the end of year seven?

Present Obligation = 20,000 r = 10% n = 5

2. A present obligation of $20,000 is to be repaid in equal uniform annual amounts, each of which includes repayment of the debt (principal) and interest on the debt, over a period of five years. If the interest rate is 10% per year, what is the amount of the annual repayment?

2. A present obligation of $20,000 is to be repaid in equal uniform annual amounts, each of which includes repayment of the debt (principal) and interest on the debt, over a period of five years. If the interest rate is 10% per year, what is the amount of the annual repayment?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

pls answer 2 and 3 asap

1. What is the future equivalent of $1,000 invested at 6% simple interest per year for 2½
years?
2. A present obligation of $20,000 is to be repaid in equal uniform annual amounts, each of
which includes repayment of the debt (principal) and interest on the debt, over a period
of five years. If the interest rate is 10% per year, what is the amount of the annual
repayment?
3. It is estimated that a copper mine will produce 10,000 tons of ore during the coming
year. Production is expected to increase by 5% per year thereafter in each of the
following six years. Profit per ton will be $14 for years one through seven.
a. Draw a cash flow diagram for this copper mine operation from the company's
viewpoint.
b. If the company can earn 10% per year on its capital, what is the future equivalent of
the copper mine's cash flows at the end of year seven?

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