ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Chapter 9, Problem 2P
To determine
The future worth of the deposited amount in the saving accounts of the individual.
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Assume that you deposited $750 in an account 5 years ago with 12% annual interest rate. How much money do you get in that account now?Use Compound interest only and check your answer with interest table.
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Tom makes annual payments of $12,204.21 per year on a loan. The loan was set at $42,000 at an interest rate of 6.3% for a period of 4 years. How much interest will Tom pay at the end of his loan?
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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Similar questions
- Jim Duggan made an investment of $10,000 in a savings account 10 years ago. This account paid interest of 5 1/2% for the first 4 years and 6 1/2% interest for the remaining 6 years. The interest charges were compounded quarterly. How much is this investment worth now?arrow_forwardAlex wishes to have P 800,000.00 available to buy a car in 4 years. How much should he deposit in a savings account at the end of each month now so that he will be able to have his dream car after 4 years? The bank pays 10% interest compounded quarterly.arrow_forwardIf you borrow $12,000 at 20% interest rate for 5 years, what is your ordinary simple interest in this case?arrow_forward
- Interest rate... How much do you need to deposit in an account today in order to have $11,000 in the account in 6 years? Assume the account earns 9% interest compounded monthly.arrow_forwardAt a certain interest rate compounded semi annually P5000 will amount to P20000 after 10 years. What is the amount at the end of 15years?arrow_forwardMoney deposited in a certain account for which the interest is compounded continuously. If the balance doubles in 6 years, what is the annual percentage rate?arrow_forward
- If you want to withdraw $20,000 at the end of 2 years and $55,000 at the end of 4 years, how much should you deposit now into an account that pays 12% compounded semi-annually?arrow_forwardDetermine the present worth of annuity consisting of 6 payments of 120,000 each payment are made at the beginning of each year. Money is worth to 15% compounded annually. What problem is all about? A. Ordinary B. Annuity due C. Deferredarrow_forwardIf you deposit $10000 into a fund paying interest 6%. How much you get after one year.arrow_forward
- What is the present value of a series of payments that grow by 10% per year over 5 years. The starting value is $50,000 at the end of year 1. The interest rate (discount rate) is 6%, compounded annually.arrow_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_forwardM purchased a small lot in a subdivision. paying P200 000 down and promising to pay P15 000 every 3 months for the next 10 years. The seller figured interest at 12% compounded quarterly. What was the cash price of the lot? Include the Cash Flow Diagram.arrow_forward
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