ENGR.ECONOMIC ANALYSIS
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ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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You are buying a home for $500,000. If you make a down payment of $80,000
and take out a mortgage on the rest at 10% compounded monthly, what will be your monthly payment if the mortgage is to be paid off in 12 years?
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- In how many years will a sum of money triple itself at 12% compounded annually?arrow_forwardMelissa agrees to contribute $500 to the alumni fund at the end of each year for the next 4 years. Shannon wants to match Melissa's gift, but he wants to make a lump-sum contribution. If the current interest rate is 2.5% compounded annually, how much should Shannon cortribute to equal Melissa's gift? (Round your answer to the nearest cent.)arrow_forwardMr. Padilla agrees to pay P1,300.00 at the end of each month for 20 years, in purchasing a house. What is the present value of this agreement if money is worth 15% compounded monthly?arrow_forward
- If $10,000 is invested in an account at United Mutual fund for 18 years, earning 10% compounded annually, what would its future worth be after 18 years?arrow_forwardWhat is the equal payment series for 6 years (the first payment is given at the end of year 1) that is equivalent to a single payment of $20,000 made at the end of the third year. (use i = 10 % compounded quarterly).arrow_forwardWhat equal monthly payments will repay an original loan of $10,000 in six months at a rate of 6% compounded monthly?arrow_forward
- What is the future worth of the following series of payments? a) $30,000 at the end of each six-month period for five years at 8% compounded semiannually. b) $50,000 at the end of each quarter for 10 years at 6% compounded quarterly. c) $13,000 at the end of each month for six years at 9% compounded monthly.arrow_forwardCompare the interest earned by $9,000 for six years at 7% simple interest with interest earned by the same amount for six years at 7% compounded annually. Why does a difference occur? The simple interest earned is $ ?arrow_forward
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