Calculate the present value (principal) and the compound interest (in $). Use Table 11-2. Round your answers to the nearest cent. Compound Amount Term of Investment Nominal Rate (%) Interest Compounded Present Value Compound Interest $34,000 6 years 4 semiannually $ $
Calculate the present value (principal) and the compound interest (in $). Use Table 11-2. Round your answers to the nearest cent. Compound Amount Term of Investment Nominal Rate (%) Interest Compounded Present Value Compound Interest $34,000 6 years 4 semiannually $ $
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Concept explainers
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Topic Video
Question
Calculate the present value (principal) and the compound interest (in $). Use Table 11-2. Round your answers to the nearest cent.
| Compound Amount |
Term of Investment |
Nominal Rate (%) |
Interest Compounded |
Present Value |
Compound Interest |
|---|---|---|---|---|---|
| $34,000 | 6 years | 4 | semiannually | $ | $ |
Transcribed Image Text:TABLE 11-2 Present Value Table (Present Value of $1 at Compound Interest)
Periods
2%
3%
4%
5%
6%
7%
Periods
0.99 502
0990 10
0.98522
0.98039
0.97087
0.961 54
0.95238
0.94340
0.93458
0.92593
a98030
0.94 260
0.87 344
0.81630
2
0.99007
0.97066
0.961 17
0.92456
0.90703
0.89000
0.85734
3
0.98515
09709
0.95632
0.94232
0.91514
088900
0.86 384
0.8.3962
0.79383
4
0.98025
0.96098
0.94218
0.92385
0.88849
0.85480
0.82270
0.79209
0.76290
0.73503
4
5
0.97537
0.95147
0.92826
0.90573
0.86 261
0.82193
0.78353
0.74726
0.71299
0.68058
0.97052
0.94205
0.91454
0. 88797
0.83748
0.79031
0.74622
0.70496
0.66634
0.6.3017
7
0.96569
093272
0.90 103
0.87056
0.81 309
0.75992
0.71068
0.66506
0.62275
0.58349
7
0.96089
0.92348
0.88771
0.85349
0.78941
0.7.3069
0.67684
0.62741
0.58201
0.54027
9
0956 10
09 1434
0.87459
0.836 76
0.76642
0.70259
0.64461
0.59190
0.54393
0.50025
10
0.95 135
0.905 29
0.86 167
0.82035
0.74409
067556
0.61391
0.55839
0.50835
0463 19
10
11
0.94661
0.89632
0.84893
0.804 26
0.72242
0.64958
0.58468
0.52679
0.47509
0.428 88
11
12
0.94 191
088745
O83639
0.78849
0.70138
0.62460
0.55684
0.49697
0.44401
0.39711
12
13
0.93722
087866
0.82403
0.77303
0.68095
0.60057
0.53032
046884
0.41496
0.36770
13
14
0.93256
0.86996
0.81 185
0.75788
0.66 112
057748
0.50507
0.44230
0.38782
0.34046
14
15
0.92792
0861 35
0.79985
0.74301
0.64 186
0.555 26
0.48 102
041727
0.36245
0.31524
15
16
0.923 30
0.85282
0.78803
0.72845
0.62317
053391
0.45811
0.39365
0.33873
0.291 89
16
0.714 16
0. 700 16
0.643
17
0.91871
0844 38
0.77639
0.60502
05 1337
0.43630
0.37136
0.31657
0.27027
17
18
0.91414
0.83602
0.76491
0.58739
049363
0.41552
0.35034
0.29586
0.25025
18
19
0.90959
082774
0.75361
0.57029
047464
0.39573
0.3.3051
0.27651
0.23171
19
20
0.90506
08 1954
0.74247
0.67297
0.55 368
0456 39
0.37689
0.311 80
0.25842
0.21455
20
21
0.90056
081143
0.73 150
0.659 78
0.53755
0.43883
0.35894
0.294 16
0.24 151
0.19866
21
22
0.89608
0.80340
0.72069
0.646 84
0.52 189
042196
0.34 185
0.27751
0.22571
0.18394
22
0.1 7032
0.157 70
23
0.89 162
0.79544
0.71004
0.634 16
0.50669
0.40573
0.32557
0.261 80
0.21095
23
24
0.88719
0.78757
0.69954
0.62172
0.49 193
0.39012
0.31007
0.24698
0.19715
24
25
0.88277
0.77977
0.68921
0.60953
0.47 761
0.375 12
0.29530
0.23300
0.18425
0.14602
25
Periods
10%
11%
12%
13%
14%
15%
16%
17%
18%
Periods
0.91743
0.90909
0.90090
0.892 86
0.88496
0877 19
0.86957
0.86207
0.85470
0.84746
0.84 168
082645
0.81 162
0.797 19
0.78315
0.76947
0.75614
0.743 16
0.73051
0.7 18 18
0.77218
0.75131
0.73119
0.71178
0.69 305
0.67497
0.65752
0.64066
0.62437
0.60863
4
0.70843
0.68301
0.65873
0.61552
0.61332
0.59208
0.57175
0.55229
0.53 65
05 1579
4
5
0.64993
0.62092
0.59345
0.56743
0.54276
05 1937
0.49718
047611
0.45611
043711
5
0.59627
0.56447
0.53464
0.50663
0.48032
045559
0.43233
04 1044
0.38984
0.37043
0.54703
0.513 16
0.48 166
0.452 35
0.42506
0.39964
0.37594
0.35383
0.33320
0.31393
0.50187
0.46651
0.43 393
0.403 88
0.37616
0.35056
0.32690
0.30503
0.28478
0.26604
0.46043
0424 10
0.39092
0.36061
0.33288
0.30751
0.28426
0.26295
0.24340
0.22546
10
0.42241
0.38554
0.35218
0.32197
0.29459
0.26974
0.24718
0.22668
0.20804
0.19106
10
11
0.38753
0.35049
031728
0.28748
0.26070
0.23662
0.21494
0.19542
0.17781
0.16192
11
12
0.35553
0.3 1863
0.28584
0.25668
0.23071
0.20756
0.18691
0.16846
0.15 197
0.13722
12
13
0.32618
0.28966
0.25751
0.229 17
0.20416
0.1 8207
0.16253
0.14523
0.12989
0.1 1629
13
14
0.29925
0.26333
0.23 199
0.20462
0.18068
0.15971
0.14 133
0.12520
0.11 102
0.09855
14
15
0.27454
0.2.39 39
0.20900
0. 182 70
0.15989
0.140 10
0.12289
0.10793
0.09489
0.08352
15
0.1 2289
0. 163 12
0. 14564
16
0.25 187
0.21763
0.18829
0.14 150
0.10686
0.09304
0.08 110
0.07078
16
17
0.23 107
0.19784
0.16963
0.12522
0.10780
0.09293
0.08021
0.06932
0.05998
17
18
0.21 199
0.17986
0.15282
0. 13004
0.11081
0.09456
0.0SOS I
0.069 14
0.05925
0.05083
18
19
0.19449
0.16351
0.13768
0.11611
0.09806
0.08295
0.07027
0.05961
0.05064
0.04308
19
20
0.17843
0.14864
0.12403
0. 10367
0.08678
007276
0.06110
0.05139
0.04328
0.0.3651
20
21
0.16370
0.135 13
0.11 174
0.09256
0.07680
0.06383
0.05 313
0.04430
0.03699
0.0.3094
21
22
0.15018
0.1 2285
0.10067
0.08264
0.06796
a.05599
0.04620
0.038 19
0.03 162
0.02622
22
23
0.13778
0.11168
0.09069
0.07379
0.06014
0.04911
0.04017
0.03292
0.02 702
0.02222
23
24
0.12640
0.10153
0.08 170
0.065 88
0.05 323
0.04308
0.03493
0.02838
0.02310
0.01883
24
25
0.11597
0.092 30
0.07 61
0.058 82
0.04710
0.03779
0.03038
0.02447
0.01974
a.01596
25
rounded to five decimal places, where i is the interest rate per period and
The values in Table 11-2 were generated by the formula PV =
n is the total number of periods.
(1 + iy
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
