An civil engineer wants to make a lump-sum deposit of $12000 now into an investment account that pays 7 percent per year, and you plan to withdraw an equal end-of-year amount of $1300 for 5 years, starting next year. At the end of the sixth year, you plan to close your account by withdrawing the remaining money. Define the engineering economy symbols involved and find the future by using cash flow.

An civil engineer wants to make a lump-sum deposit of $12000 now into an investment account that pays 7 percent per year, and you plan to withdraw an equal end-of-year amount of $1300 for 5 years, starting next year. At the end of the sixth year, you plan to close your account by withdrawing the remaining money. Define the engineering economy symbols involved and find the future by using cash flow.

Structural Analysis

6th Edition

ISBN:9781337630931

Author:KASSIMALI, Aslam.

Publisher:KASSIMALI, Aslam.

Chapter2: Loads On Structures

Section: Chapter Questions

Problem 1P

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Question

An civil engineer wants to make a lump-sum deposit of $12000 now into an
investment account that pays 7 percent per year, and you plan to withdraw an
equal end-of-year amount of $1300 for 5 years, starting next year. At the end of
the sixth year, you plan to close your account by withdrawing the remaining
money. Define the engineering economy symbols involved and find the future
by using cash flow.

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