A company deposits $500,000 per year which will earn 10% interest per year. Assuming the first payment is made at the end of the year (i) Determine the amount of money after 10 years (ii) Calculate the interest earned for 10 years given : R = 500,000 i=10% n = 10 asked Sn? and Interest = Sn-(R*n)?

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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A company deposits $500,000 per year which will earn 10% interest per
year. Assuming the first payment is made at the end of the year
(i) Determine the amount of money after 10 years
(ii) Calculate the interest earned for 10 years
given :
R = 500,000
i=10%
n = 10
asked Sn? and Interest = Sn-(R*n)?
Transcribed Image Text:A company deposits $500,000 per year which will earn 10% interest per year. Assuming the first payment is made at the end of the year (i) Determine the amount of money after 10 years (ii) Calculate the interest earned for 10 years given : R = 500,000 i=10% n = 10 asked Sn? and Interest = Sn-(R*n)?
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