Engineering Economy
16th Edition
ISBN: 9780133582819
Author: Sullivan
Publisher: DGTL BNCOM
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Chapter 4, Problem 4P
To determine
Calculate the interest payment.
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Chapter 4 Solutions
Engineering Economy
Ch. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - Prob. 4PCh. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7PCh. 4 - Prob. 8PCh. 4 - Prob. 9PCh. 4 - Prob. 10P
Ch. 4 - Prob. 11PCh. 4 - Prob. 12PCh. 4 - Prob. 13PCh. 4 - Prob. 14PCh. 4 - Prob. 15PCh. 4 - Prob. 16PCh. 4 - Prob. 17PCh. 4 - Prob. 18PCh. 4 - Prob. 19PCh. 4 - Prob. 20PCh. 4 - Prob. 21PCh. 4 - Prob. 22PCh. 4 - Prob. 23PCh. 4 - Prob. 24PCh. 4 - Prob. 25PCh. 4 - Prob. 26PCh. 4 - Prob. 27PCh. 4 - Prob. 28PCh. 4 - Prob. 29PCh. 4 - Prob. 30PCh. 4 - Twelve payments of 10,000 each are to be repaid...Ch. 4 - Prob. 32PCh. 4 - Automobiles of the future will most likely be...Ch. 4 - Prob. 34PCh. 4 - Prob. 35PCh. 4 - A geothermal heat pump can save up to 80% of the...Ch. 4 - Prob. 37PCh. 4 - Prob. 38PCh. 4 - Prob. 39PCh. 4 - Prob. 40PCh. 4 - Prob. 41PCh. 4 - Prob. 42PCh. 4 - Prob. 43PCh. 4 - Prob. 44PCh. 4 - Prob. 45PCh. 4 - Prob. 46PCh. 4 - Prob. 47PCh. 4 - Prob. 48PCh. 4 - Prob. 49PCh. 4 - Prob. 50PCh. 4 - Prob. 51PCh. 4 - Prob. 52PCh. 4 - Prob. 53PCh. 4 - Prob. 54PCh. 4 - Prob. 55PCh. 4 - Prob. 56PCh. 4 - Prob. 57PCh. 4 - Prob. 58PCh. 4 - Prob. 59PCh. 4 - Maintenance expenses for a bridge on the Ohio...Ch. 4 - Prob. 61PCh. 4 - Prob. 62PCh. 4 - Prob. 63PCh. 4 - Prob. 64PCh. 4 - Prob. 65PCh. 4 - Prob. 66PCh. 4 - Prob. 67PCh. 4 - Prob. 68PCh. 4 - Prob. 69PCh. 4 - Prob. 70PCh. 4 - Prob. 71PCh. 4 - Prob. 72PCh. 4 - Prob. 73PCh. 4 - Prob. 74PCh. 4 - Prob. 75PCh. 4 - Prob. 76PCh. 4 - Prob. 77PCh. 4 - Prob. 78PCh. 4 - Prob. 79PCh. 4 - Prob. 80PCh. 4 - Prob. 81PCh. 4 - Prob. 82PCh. 4 - Prob. 83PCh. 4 - Prob. 84PCh. 4 - Prob. 85PCh. 4 - Prob. 86PCh. 4 - Prob. 87PCh. 4 - Prob. 88PCh. 4 - Prob. 89PCh. 4 - Prob. 90PCh. 4 - Prob. 91PCh. 4 - Prob. 92PCh. 4 - Prob. 93PCh. 4 - Prob. 94PCh. 4 - Prob. 95PCh. 4 - Prob. 96PCh. 4 - Prob. 97PCh. 4 - Prob. 98PCh. 4 - Prob. 99PCh. 4 - Prob. 100PCh. 4 - A large bank has increased its annual percentage...Ch. 4 - Prob. 102PCh. 4 - Prob. 103PCh. 4 - Prob. 104PCh. 4 - Prob. 105PCh. 4 - Prob. 106PCh. 4 - Prob. 107PCh. 4 - Prob. 108PCh. 4 - Prob. 109PCh. 4 - Prob. 110PCh. 4 - Prob. 111PCh. 4 - Prob. 112PCh. 4 - Prob. 113PCh. 4 - Prob. 114PCh. 4 - Prob. 115PCh. 4 - Prob. 116PCh. 4 - Prob. 117PCh. 4 - Prob. 118PCh. 4 - Prob. 119PCh. 4 - Prob. 120PCh. 4 - Prob. 121PCh. 4 - Prob. 122PCh. 4 - Prob. 123PCh. 4 - Prob. 124PCh. 4 - Prob. 125PCh. 4 - Prob. 126PCh. 4 - Analyze the truth of this statement, assuming you...Ch. 4 - Prob. 128PCh. 4 - Prob. 129SECh. 4 - Prob. 130SECh. 4 - Prob. 131SECh. 4 - Prob. 132SECh. 4 - Prob. 133CSCh. 4 - Prob. 134CSCh. 4 - Prob. 135CSCh. 4 - Prob. 136FECh. 4 - Prob. 137FECh. 4 - Prob. 138FECh. 4 - Prob. 139FECh. 4 - Prob. 140FECh. 4 - Prob. 141FECh. 4 - Prob. 142FECh. 4 - Prob. 143FECh. 4 - Prob. 144FECh. 4 - Prob. 145FECh. 4 - Prob. 146FECh. 4 - Prob. 147FECh. 4 - Prob. 148FECh. 4 - Prob. 149FECh. 4 - Prob. 150FECh. 4 - Prob. 151FE
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- How much loan will be extinguished for a monthly amortization of ₱4,500 at 12% interest compounded monthly for 4 years?arrow_forwardMathematical economics: Find the present value of an annuity of $1200 payable at the end of each 6 months for 3 years when the interest is earned at 8% per year compounded semi-annually. (Take (1.04) = 1.2653).arrow_forwardCompare the interest earned by $10,000 for three years at 9% simple interest with interest earned by the same amount for three years at 9% compounded annually. Why does a difference occur? Click the icon to view the interest and annuity table for discrete compounding when i=9% per year. The simple interest earned is (Round to the nearest dollar.) (Round to the nearest dollar.) The compound interest earned is $ There is a difference in the amount of interest earned because compound interest allows interest from previous years to earn additional interest, whereas simple interest only considers the original principal.arrow_forward
- Find i (the rate per period) and n (the number of periods) for the following loan at the given annual rate. Semiannual payments of $4,200 are made for 13 years to repay a loan at 7% compounded semiannually. (Type an integer or decimal rounded to four decimal places as needed.)arrow_forwardIf the sum of Php 15,000 is deposited in an account earning interest at the rate of 12% compounded semiannually, what will it become at the end of 5 years? (Answer is in Php.)arrow_forwardYou borrow $625,000 at 5.00% per year compounded monthly and you plan to pay off this loan in equal annual payments starting one year after the loan is made over a period of fifteen (15) years. What are the annual end-of-year payments? Determine the amount of interest and principal that are paid each year. What is the total interest paid for the loan? Restructure the loan in the previous question to make payments monthly. Determine the savings in interest overall. Restructure your payment schedule once more to make payments every two weeks. Determine the savings in interest (if any) in this case (compare to both previous repayment options).arrow_forward
- What is the nominal Interest rate in continuous compounding that is equivalent to an effective Interest rate of 32%7arrow_forwardYou borrow $20,000 to purchase a car and will repay the loan in uniform monthly payments for the next 48 months. The first payment is due one month after the purchase of the car. If the interest rate is 1% per month, determine the amount of your monthly car payment. Assuming you make each payment as scheduled, how much total interest will you pay over the four-year period?arrow_forwardThe monthly average cable TV bill in 2017 is $71.88. If cable costs are climbing at an annual rate of 3% per year, how much will the typical cable subscriber pay in 2020? Assume annual compounding Click the icon t view the interest and annuity table for discrete compounding when i= 3% per year. The typical cable subscriber will pay $ per month in 2020. (Round to the nearest cent.)arrow_forward
- Compare the interest earned by $10,000 for three years at 7% simple interest with interest earned by the same amount for three years at 7% compounded annually. Why does a difference occur? Click the icon to view the interest and annuity table for discrete compounding when i = 7% per year. The simple interest earned is $ The compound interest earned is $ (Round to the nearest dollar.) (Round to the nearest dollar.) There is a difference in the amount of interest earned because original principal. allows interest from previous years to earn additional interest, whereas only considers thearrow_forwardCompound interest is a very powerful way to save for your retirement. Saving a little and giving it time to grow is often more effective than saving a lot over a short period of time. To illustrate this, suppose your goal is to save $1 million by the age of 70. What amount of money will be saved by socking away $3,038 per year starting at age 23 with a 7% annual interest rate. Will you achieve your goal using the long-term savings plan? What amount of money will be saved by socking away $20,406 per year starting at age 48 at the same interest rate? Will you achieve your goal using the short-term savings plan? Click the icon to view the interest and annuity table for discrete compounding when i = 7% per year. C The future equivalent of the long-term savings plan is $ 1,000,184. (Round to the nearest dollar.) You will achieve your goal using the long-term savings plan. The future equivalent of the short-term savings plan is $. (Round to the nearest dollar.)arrow_forwardCompound interest is a very powerful way to save for your retirement. Saving a little and giving it time to grow is often more effective than saving a lot over a short period of time. To illustrate this, suppose your goal is to save $1 million by the age of 70. What amount of money will be saved by socking away $3,038 per year starting at age 23 with a 7% annual interest rate. Will you achieve your goal using the long-term savings plan? What amount of money will be saved by socking away $20,406 per year starting at age 48 at the same interest rate? Will you achieve your goal using the short-term savings plan? Click the icon to view the interest and annuity table for discrete compounding when i = 7% per year. The future equivalent of the long-term savings plan is $. (Round to the nearest dollar.) Carrow_forward
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