ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Chapter 9, Problem 18P
To determine
To calculate: The amount of future worth of savings after last deposit.
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Q 2
Can you show how this is done step by step, please.
Ken wants to remodel his basement and he wants to pay back no more than $15,000.If he gets a low interest loan at 4.5% compounded monthly and plans to repay the loanin one payment in 2 years, how much can he borrow?
You deposit $5000 each year into an account earning 8% interest compounded annually. How much will you
have in the account in 20 years?
$
Chapter 9 Solutions
ENGR.ECONOMIC ANALYSIS
Ch. 9 - Prob. 2QTCCh. 9 - Prob. 3QTCCh. 9 - Prob. 1PCh. 9 - Prob. 2PCh. 9 - Prob. 3PCh. 9 - Prob. 4PCh. 9 - Prob. 5PCh. 9 - Prob. 6PCh. 9 - Prob. 7PCh. 9 - Prob. 8P
Ch. 9 - Prob. 9PCh. 9 - Prob. 10PCh. 9 - Prob. 11PCh. 9 - Prob. 12PCh. 9 - Prob. 13PCh. 9 - Prob. 14PCh. 9 - Prob. 15PCh. 9 - Prob. 16PCh. 9 - Prob. 17PCh. 9 - Prob. 18PCh. 9 - Prob. 19PCh. 9 - Prob. 20PCh. 9 - Prob. 21PCh. 9 - Prob. 22PCh. 9 - Prob. 23PCh. 9 - Prob. 24PCh. 9 - Prob. 25PCh. 9 - Prob. 27PCh. 9 - Prob. 28PCh. 9 - Prob. 29PCh. 9 - Prob. 30PCh. 9 - Prob. 31PCh. 9 - Prob. 32PCh. 9 - Prob. 33PCh. 9 - Prob. 34PCh. 9 - Prob. 35PCh. 9 - Prob. 36PCh. 9 - Prob. 37PCh. 9 - Prob. 38PCh. 9 - Prob. 39PCh. 9 - Prob. 40PCh. 9 - Prob. 41PCh. 9 - Prob. 42PCh. 9 - Prob. 43PCh. 9 - Prob. 44PCh. 9 - Prob. 45PCh. 9 - Prob. 46PCh. 9 - Prob. 47PCh. 9 - Prob. 48PCh. 9 - Prob. 49PCh. 9 - Prob. 50PCh. 9 - Prob. 51PCh. 9 - Prob. 52PCh. 9 - Prob. 53PCh. 9 - Prob. 54PCh. 9 - Prob. 55PCh. 9 - Prob. 56PCh. 9 - Prob. 57PCh. 9 - Prob. 58PCh. 9 - Prob. 59PCh. 9 - Prob. 60PCh. 9 - Prob. 61PCh. 9 - Prob. 62PCh. 9 - Prob. 63PCh. 9 - Prob. 64PCh. 9 - Prob. 65PCh. 9 - Prob. 66PCh. 9 - Prob. 67PCh. 9 - Prob. 68PCh. 9 - Prob. 69PCh. 9 - Prob. 70PCh. 9 - Prob. 71PCh. 9 - Prob. 72PCh. 9 - Prob. 73PCh. 9 - Prob. 74PCh. 9 - Prob. 75PCh. 9 - Prob. 77PCh. 9 - Prob. 78PCh. 9 - Prob. 79PCh. 9 - Prob. 80PCh. 9 - Prob. 81PCh. 9 - Prob. 83PCh. 9 - Prob. 84PCh. 9 - Prob. 85PCh. 9 - Prob. 86PCh. 9 - Prob. 87PCh. 9 - Prob. 88P
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- How long your money would double its amount if you invested at 5%compounded annually?arrow_forwardQ3arrow_forwardJoseph buys a new home using an interest only loan where he pays only the interest on the value of the home each month. The home is valued at $200,000 and Joseph pays 5% interest per year on the home. How much is his monthly interest payment?arrow_forward
- Chris makes a deposit of $500 into his savings account at the beginning of each year for the next 20 years. If the account earns 5% interest rate per year compounded annually, what will be the future value at the end of 20 years?Need to calculate.arrow_forwardFind the periodic payments PMT necessary to accumulate the given amount in an annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $80,000 in a fund paying 3% per year, with monthly payments for 10 years PMT = $ Need Help? Watch It Read Itarrow_forwardMr. Benedito, a grocery store owner, borrows $50,000.00 from a loan shark, handing him a $77,000.00 promissory note with a maturity of 6 months. What is the annual and monthly simple interest rate charged by the loan shark?arrow_forward
- While planning for his retirement, Alishan purchased an annuity that paid him $3200 every year for 13 years at a rate of 3.8% compounding semi-annually. What was Alishan's initial investment into the annuity? How much would he receive in payments? How much of that would be interest?arrow_forwardPlease solve complete in hand writtenarrow_forwardIf you deposit $8,000 into an account paying 8% annual interest compounded quarterly, how long(years) until there is $12,400 in the account?arrow_forward
- A businessman needs to have P200,000 in eight years. How much(P) must he put into his 18% savings account in the bank? A bank is always use compound interest.arrow_forwardSuppose that S100 is invested for five years at an interest rate of 8% per year, compounded annually. How much will be in the account at the end of five years?arrow_forwardOn July 1 and September 1, Abby placed $2000 into an account paying 3% compounded monthly. How much was in the account on October 1?arrow_forward
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