Basics Of Engineering Economy
2nd Edition
ISBN: 9780073376356
Author: Leland Blank, Anthony Tarquin
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 1, Problem 72APQ
To determine
Calculate the interest rate.
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1. Many small companies use accounts receivable as collateral to borrow money for continuing
operations and meeting payrolls. If a company borrows $300,000 now at an interest rate of
1% per month, but the rate changes to 1.25% per month after 4 months, how much will the
company owe at the end of 1 year?
Suppose that $30,000 is borrowed today at 12% interest. The loan is to be repaid by uniform annual payments for 5 years,
beginning 1 year from now. Calculate the annual payment.
A) $500 per year
$8,322 per year
C
$108,140 per year
D) $3603.00 per year
Complete the table
Chapter 1 Solutions
Basics Of Engineering Economy
Ch. 1 - Prob. 1PCh. 1 - Which of the following would be considered...Ch. 1 - Prob. 3PCh. 1 - Prob. 4PCh. 1 - Prob. 5PCh. 1 - Prob. 6PCh. 1 - Prob. 7PCh. 1 - Prob. 8PCh. 1 - Prob. 9PCh. 1 - What is meant by the term time value of money?
Ch. 1 - Prob. 11PCh. 1 - Of the fundamental dimensions length, mass, time,...Ch. 1 - Prob. 13PCh. 1 - When an interest rate statement does not include a...Ch. 1 - Prob. 15PCh. 1 - Prob. 16PCh. 1 - Prob. 17PCh. 1 - Prob. 18PCh. 1 - Prob. 19PCh. 1 - Prob. 20PCh. 1 - Prob. 21PCh. 1 - Prob. 22PCh. 1 - Prob. 23PCh. 1 - Prob. 24PCh. 1 - Prob. 25PCh. 1 - Prob. 26PCh. 1 - Prob. 27PCh. 1 - Prob. 28PCh. 1 - How many years does it take for an investment of...Ch. 1 - Prob. 30PCh. 1 - Prob. 31PCh. 1 - Prob. 32PCh. 1 - Prob. 33PCh. 1 - Prob. 34PCh. 1 - Prob. 35PCh. 1 - Prob. 36PCh. 1 - Prob. 37PCh. 1 - Prob. 38PCh. 1 - Prob. 39PCh. 1 - Prob. 40PCh. 1 - Prob. 41PCh. 1 - Prob. 42PCh. 1 - Prob. 43PCh. 1 - Prob. 44PCh. 1 - At 9% per year simple interest, 1000 is equivalent...Ch. 1 - Prob. 46PCh. 1 - Prob. 47PCh. 1 - Prob. 48PCh. 1 - Prob. 49PCh. 1 - Prob. 50PCh. 1 - Prob. 51PCh. 1 - Prob. 52PCh. 1 - Prob. 53PCh. 1 - Prob. 54PCh. 1 - Prob. 55PCh. 1 - Prob. 56PCh. 1 - Prob. 57PCh. 1 - Prob. 58PCh. 1 - Prob. 59PCh. 1 - Prob. 60PCh. 1 - Prob. 61PCh. 1 - Prob. 62PCh. 1 - Prob. 63PCh. 1 - Prob. 64PCh. 1 - Prob. 65PCh. 1 - Prob. 66PCh. 1 - Prob. 67PCh. 1 - Prob. 69APQCh. 1 - Prob. 70APQCh. 1 - Prob. 71APQCh. 1 - Prob. 72APQCh. 1 - An investment of 8,000 nine years ago has...Ch. 1 - Prob. 74APQCh. 1 - Prob. 75APQCh. 1 - Prob. 76APQCh. 1 - Prob. 77APQ
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Similar questions
- What will be the balance at the end of 5 years for $30,500 now at 10% annual interest, if compound interest is :a. weekly b. continuouslyarrow_forward3. An individual wishes to deposit an amount of money now to have an accumulation of $500 at the end of five years. If the interest rate is at 4% per year, compounded semiannually, determine how much should be deposited ?arrow_forward(6) A loan of $20,000 is to be repaid in uniform monthly payments over 3 years. If the interest in 9% per year compounded monthly, what is the amount of unpaid las principal after 24 monthly payments?arrow_forward
- How much money would you need to deposit today at 9% annual interest compounded monthly to have $12000 in the account after 6 years? A) $7,007 B) $20,550 $20,125 D) $7,155arrow_forwardFirst Bank is sending university alumni an invitation to obtain a credit card, with the name oftheir university written on it, for a nominal 11.9% interest per year after 6 months of 0%interest. Interest is compounded monthly. Starting in the second year, the APR increases to anominal rate of 23.9%.a. What is the effective annual interest rate for the first year?b. What is the effective annual interest rate for the second yeararrow_forward2. How much money can be withdrawn every 3 months for 12 years from a retirement fund which earns 18% per year interest compounded monthly and has a present amount of $150000 in it?arrow_forward
- How much interest would Princess Ybañez will be paid each year on a loan of $2000 at an annual interest of 8%? How much interest would she have beenpaidover an 8-year period?arrow_forward1.ompute for the effective interest rate per semi-annual Nominal rate = 28.9% compounded semi-annual 2.arrow_forwardIf the effective interest rate is 20% per annum, what is the Nominal Rate if it is? A.Compounded Monthly B.Compounded Quarterly C. Compounded Semi-Annually D.Compounded Annuallyarrow_forward
- Mr Chen wants to get a lumpsum of 3.5 million pesos when he retires at the end of 20 years. How much in pesos should he deposit every end of 3 months in a fund that gives an interest of 12% compounded quarterlyto satisfy his desire? thank youarrow_forwardIf you borrow $4000 and you have to return it after 3 years , in case of compound interest rate of 2% ,the loan will be at the end of second year is: Select one: a. $4244 b. $4080 c. $4161 d. $4240arrow_forwardCalculate the amount of money an engineer pays on a loan if she borrows $50,000 for 7 years at 11.5% per annum compound interest.arrow_forward
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