A man has deposited $50 000 in a retirement income plan with a local bank. Thisb ank pays 9% per year, compounded annually, on such deposits. What is the maximum amount the man can withdraw at the end of each year and still have the funds last for 12 years eng econ

A man has deposited $50 000 in a retirement income plan with a local bank. Thisb ank pays 9% per year, compounded annually, on such deposits. What is the maximum amount the man can withdraw at the end of each year and still have the funds last for 12 years eng econ

Structural Analysis

6th Edition

ISBN:9781337630931

Author:KASSIMALI, Aslam.

Publisher:KASSIMALI, Aslam.

Chapter2: Loads On Structures

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Q: If P8,000 shall accumulate for 10 years at 12% compounded quarterly. Find the compound interest at…

Q: A businessman engineer loaned P 100,000 at 14% interest and paid P 1,600 per annum for the last 8…

A: It is required to determine the amount to be paid at the end of 10th year. Total loan…

Q: 2. Find the present value of installment payment of P1000 now, P2000 at the end of the first year,…

A: Given, installment payment now= P1000 P2000 at the end of the first year =P2000 at the end of 2nd…

Q: Find the difference between the sums of annuity due and ordinary annuity for the following data…

A: As per our guidelines, we must solve only the first question out of the given questions. So, please…

Q: 1.You deposit $50,000 into a fund that pays 5% per year compounded annually. You plan to make the…

A: Given:- P = $50000 R = 5% per annum To find:- Value of X

Q: A Php200000 loan was originally made at 8% simple interest for 4 years. At the end of this period,…

A: Total interest for initial 4 years = P200000 × 8100×4 = P64000 Total amount at the end of 4 years…

Q: Mica owes P250, 000.00 due in one year and P175, 000.00 due in 4 years. She agrees to pay P350,…

A: Effective rate per year - ER = 1 + i22 - 1⇒ER = 1 + 510022 - 1⇒ER = .050625

Q: Q1/ If the first deposit was $5,000 and decreased by $150 during the five years. Calculate the…

Q: businesswoman borrowed P200,000 with interest at the rate of 6.9% compounded semi-annually. He…

Q: Two years ago, Snoop Lion deposited P15,000.00 in a fund that earns 10% interest compounded…

A: Given Interest rate = 10% compounded semiannualy 15000 deposited 2-years ago 10000 deposited today…

Q: What is the lump sum?

A: the lump sum amount is 23120.07/-

Q: The principal sum P is invested at nominal interest rate r, compounded m times a year, for n year.…

A: P - principal sum r - interset rate n - time (year) m - compounding times a year A - amount at the…

Q: A small company purchased now for 1.15M will lose 75,000 each year for the first 4 years. An…

A: Cash flow diagram refers to a diagrammatic representation of cash outflow, cash inflow, income and…

Q: A company borrowed P15000 two years ago. The terms of the loan are 10% interest for 10 year: with…

Q: payment of

A: Given:- payment=P200,000 down payment=10% interest rat=15% number of years=5 To find:- monthly…

Q: ou are asked by the manager of your company to determine the sum required to buy a company car and…

A: Given : You are asked by the manager of your company to determine the sum required to buy a company…

Q: What is the present worth of three P50,000 payments at the end of the fourth year, fifth year and…

Q: Copy of Find the amount at the end of 5 years and 9 months if P9 000 is invested at 20% compounded…

A: Given, Principle (P) = P9000 Interest rate (R) = 20% or 0.20 Number of compounding period (n) = 4…

Q: If the nominal annual interest rate is 6% compounded monthly, what is the effective quarterly…

Q: 7. Lawrence takes out a loan For S8000 to start a business after high school, The bank charges him…

A: Hi! Thank you for the question. As per the honor code, we’ll answer the first question since the…

Q: A young woman with the age of 20 has just passed the board exam. She accepts a teaching position at…

Q: Engr. Secula wanted to retire in 20 years with ₱1.5 million. How much must he save annually starting…

A: Given that: Future Worth, F = ₱1.5 million = ₱1500000 Time period, n = 20…

Q: as bought at a downpayment of P500,000.He paid P1 million after 1 year and the remaining balance…

A: Given:- P2Million down payment=P500,000 interest rate=24% To find:- how much payment

Q: simple interest rate. 20

A: = final amount = initial principal balance = annual interest rate = time (in years)

Q: king capitál óf P2 ed capital investme

A: Given:- Fixed capital investment=P10,000,000 Working capital=P2,000,000 annual depreciation=10% To…

Q: By the conditions of the will, the sum of 35,000 is left to a 12 year old girl to be held in a trust…

Q: now much must be invested?

A: Compound interest calculations:

Q: The effective annual interest rate is given to be 19.2%. What is the nominal ineterest rate per year…

A: Given Annual interest rate, i =19.2% =0.192 Required Nominal interest rate for continuous…

Q: 2. Attach a complete solution. Draw the cash flow diagram. Suppose that P 4500 is deposited each…

Q: Determine the present worth of the following cash flows based on an interest rate of 7.66% per year,…

Q: Practice Problem Set No. 4: (Continuation) Problem 4: If money is worth 8% compounded quarterly,…

A: L

Q: Please do not SOLVE using EXCEL. Solve it using Manual Computation Determine the maximum future…

A: Given data, Yearly annuity = X Annuity period = 10 years Withdrawn after = 20 years Effective…

Q: Mr. Giu invested P 102,200.00 in savings account. After 2 years, he deposited an amount of P 8,500.…

Q: Solve Problem 20.25 using Excel.

A: To find:- X

Q: after

Q: FOR THE CASH FLOW REVENUES SHOWN BELOW, FIND THE VALUE OF G THAT MAKES THE EQUIVALENT ANNUAL WORTH…

Q: 2. How much interest would be due at the end of 14 months on a loan of P30,000 if the interest is…

Q: Frasier is 33 years old and just received an inheritance from his parents' estate. He wants to…

Q: A diesel generator has been installed in a building at a cost of Rs. 3500.00. The amount of annual…

A: Given, S = rs 3500 i = 5% = 0.05 n = 20 Take (1.05)20 = 2.653 Find, Annual srinking fund (I)

Question

eng econ

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, civil-engineering and related others by exploring similar questions and additional content below.

Similar questions

A man 25 years old wants to establish his own retirement. At the end of each year, and thereafter he plans to deposit P5,000 in a fund that earns 15% annual interest How old will he be when the fund has an accumulated value of P 1,000,000?
Five hundred pesos (P500.00) is deposited monthly to an account earning 7% compounded monthly. What is the amount of the deposit after five years? *
9. A firm loans P500,000 pesos from a bank with interest at 6% compounded annually. He agrees to pay his obligations by paying 10 equal annual payments, the first being due at the end of 1 year. Find the annual payments.
By the conditions of the will, the sum of $35,000 is left to a 12 year old girl to be held in a trust fund invested at 8% compounded quarterly. How much will she receive when she turns 18? Kindly solve this engineering economy problem. Show diagram if necessary. Thank you
2. A major repair on the suspension system of a 5-year-old car cost Php150000 because the warranty expired after 3 years of ownership. The cost of periodic maintenance has been Php5000 every 2 years. If the owner donates the car to charity after 8 years of ownership, what is the equivalent annual cost of the repair and maintenance in the 8-year period of ownership? Use an interest rate of 8% per year, and assume that the owner paid the Php5000 maintenance cost immediately before donating the car in year 8.
If P500,000 is deposited at a rate of 11.25% compounded monthly, determine the compounded interest after 7 years and 9 months.
A man borrowed P20,000 from a local commercial bank which has a simple interest of 16% but the interest is to be deducted from the loan at the time that the money was borrowed and the loan is payable at the end of one year. How much is the actual interest rate.
Q.5 A construction engineer invests a sum of $10 000 in a bank at a nominal interest rate of 16% for 10 years. The compounding is quarterly. Find the maturity amount of the deposit after 10 years?
Miw deposited P15, 000 each year for 10 years, how much annuity can Miw get annually from the bank every year for ten years starting one year after his last deposit. Rate of interest is 8%.