Basics Of Engineering Economy
2nd Edition
ISBN: 9780073376356
Author: Leland Blank, Anthony Tarquin
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 3, Problem 63P
To determine
Calculate the future worth.
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If an investor invests a sum of $1000 in a bank for 1 year with aninterest rate of 10% compounded annually, the accumulated amount at the endof year?
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Solve with both simple interest rate and compoundes as well!!!
Chapter 3 Solutions
Basics Of Engineering Economy
Ch. 3 - Prob. 1PCh. 3 - Prob. 2PCh. 3 - Prob. 3PCh. 3 - Prob. 4PCh. 3 - Prob. 5PCh. 3 - Convert an interest rate of 1.5% per month into a...Ch. 3 - Prob. 7PCh. 3 - Prob. 8PCh. 3 - Prob. 9PCh. 3 - Prob. 10P
Ch. 3 - Prob. 11PCh. 3 - Prob. 12PCh. 3 - Prob. 13PCh. 3 - Prob. 14PCh. 3 - Prob. 15PCh. 3 - Prob. 16PCh. 3 - Prob. 17PCh. 3 - Prob. 18PCh. 3 - Prob. 19PCh. 3 - Prob. 20PCh. 3 - Prob. 21PCh. 3 - Prob. 22PCh. 3 - Prob. 23PCh. 3 - Prob. 24PCh. 3 - Prob. 25PCh. 3 - Prob. 26PCh. 3 - Prob. 27PCh. 3 - Prob. 28PCh. 3 - Prob. 29PCh. 3 - Prob. 30PCh. 3 - Prob. 31PCh. 3 - Prob. 32PCh. 3 - Prob. 33PCh. 3 - Prob. 34PCh. 3 - Prob. 35PCh. 3 - Prob. 36PCh. 3 - Prob. 37PCh. 3 - Prob. 38PCh. 3 - Prob. 39PCh. 3 - Prob. 40PCh. 3 - Prob. 41PCh. 3 - Prob. 42PCh. 3 - Erbitux is a colorectal cancer treatment drug that...Ch. 3 - Prob. 44PCh. 3 - Prob. 45PCh. 3 - Prob. 46PCh. 3 - Prob. 47PCh. 3 - Prob. 48PCh. 3 - Prob. 49PCh. 3 - Prob. 50PCh. 3 - Prob. 51PCh. 3 - Prob. 52PCh. 3 - Prob. 53PCh. 3 - Prob. 54PCh. 3 - Prob. 55PCh. 3 - Prob. 56PCh. 3 - Prob. 57PCh. 3 - Prob. 58PCh. 3 - The initial cost of a pulverized coal cyclone...Ch. 3 - Prob. 60PCh. 3 - Prob. 61PCh. 3 - Prob. 62PCh. 3 - Prob. 63PCh. 3 - Prob. 64PCh. 3 - Prob. 65PCh. 3 - Prob. 66PCh. 3 - Prob. 67PCh. 3 - Prob. 68APQCh. 3 - Prob. 69APQCh. 3 - Prob. 70APQCh. 3 - Prob. 71APQCh. 3 - Prob. 72APQCh. 3 - Prob. 73APQCh. 3 - Prob. 74APQCh. 3 - Prob. 75APQCh. 3 - Prob. 76APQ
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Similar questions
- Compare the future worth of $2,500 for 5 years at 12% per year compounded monthly. How much interest is paid? a. F = $3,533 Ob. F = $3,633 c. F = $4,633 Od. F = $4,541arrow_forwardYou invest $10,000 in a fund that pays 7% per year for 5 years. How much is in the fund at the end of 5 years if (forgetting leap years and making “convenient” assumptions): a. Compounding is annual? b. Compounding is quarterly? c. Compounding is monthly? d. Compounding is daily?arrow_forwardA bank advertises quarterly compounding for business checking accounts. What payment and compounding periods are associated with deposits of daily receipts?arrow_forward
- How many will it take money to be 3 times itself if invested at 12% compounded semi-annually?arrow_forwardAt what annual rate of interest, compounded quartile will money double in (3+R) years?arrow_forwardAnn Marie is 28 years old and just received an inheritance from her parents. She wants to find out how much money she should invest today such that she can have USD 5,000 at the end of every month for 15 years when she retires at age 60. If she can earn 9% compounded annually until age 60 and then 5% compounded annually when the fund is paying out, how much money must Ann Marie invest?arrow_forward
- Samson entered into an agreement with "Lovey A & Handsome B Bank" whereby the former shall pay the latter double the amount after a period of n years. If the agreed interest rate is 14% compounded yearly, how much is the accurate value of n?arrow_forwardYou inherited $12,000 from your Great-Uncle Michael. If you invest it and average an 8% annual rate of return (compounded annually), how much will you have in 20 years?arrow_forwardA certain business guarantees an earnings of 25,000 every month and a final addition earning of 85,000 at the end of 1 year. If the rate of interest is 10% compounded per month, what is worth now?arrow_forward
- Find the compound amount after 1 year if $100 is invested at the rate 6%, payable quarterly. What was the compound amount after 6 months? At what rate per year does principal increase in this case?arrow_forwardA problem on the midterm exam asked you to calculate the monthly payment on a $15,000 car loan at an interest rate of 9% compounded monthly to be repaid over 60 months, where 9% is the nominal annual interest rate. Some students incorrectly used 9% as the monthly interest rate. A monthly interest rate of 9% is equivalent to what effective annual interest rate? (a) Effective annual interest rate = 9% (b) Effective annual interest rate = 9% per month x 12 months per year = 108% (c) Effective annual interest rate = 9% per month ÷ 12 months per year 0.75% (d) Effective annual interest rate = (1+ effective monthly rate)12 – 1 = (1.09)12 – 1 = 181%arrow_forwardWhat effective interest rate per quarter is equivalent to 10% per year compounded monthly?arrow_forward
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