ENGINEERING FUNDAMENTALS
6th Edition
ISBN: 9781337705011
Author: MOAVENI
Publisher: CENGAGE L
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Chapter 20, Problem 25P
To determine
Find the value of
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Your future company has purchased a machine and has entered into a contract that requires the company to pay $2000 each year for the upgrade of machine components at the end of years 6, 7, and 8. In anticipation of the upgrade cost, your company has decided to deposit equal amounts ( X ) at the end of each year for five years in a row in an account that pays i = 6% . The first deposit is made at the end of the first year. What is the value of X?
A machine was purchased for $ 8,000, with
an estimated useful life of 10 years, and it
has a scrap value of $ 1,000 and rate of
interest = %1O. Calculate the following:
The book value at the end of the ninth year
using Sum of the Years- Digits method. *
The book value at the end of the fourth year
using constant percentage method. *
The depreciation installment for the sixth
year using straight line method. *
Compute the future value of a $1500 deposit, after eight years, in an account that pays a simple interest rate of 7%. How much interest will be paid to this account?
Chapter 20 Solutions
ENGINEERING FUNDAMENTALS
Ch. 20.4 - Prob. 1BYGCh. 20.4 - Prob. 2BYGCh. 20.4 - Prob. 3BYGCh. 20.4 - Prob. 4BYGCh. 20.4 - Prob. 5BYGCh. 20.4 - Prob. BYGVCh. 20.5 - Prob. 1BYGCh. 20.5 - Prob. 2BYGCh. 20.5 - Prob. 3BYGCh. 20.5 - Prob. BYGV
Ch. 20.8 - Prob. 1BYGCh. 20.8 - Prob. 2BYGCh. 20.8 - Prob. 3BYGCh. 20 - Prob. 1PCh. 20 - Prob. 2PCh. 20 - Prob. 3PCh. 20 - Prob. 4PCh. 20 - Prob. 5PCh. 20 - Prob. 6PCh. 20 - Prob. 7PCh. 20 - Prob. 8PCh. 20 - Prob. 9PCh. 20 - Prob. 10PCh. 20 - Prob. 11PCh. 20 - Prob. 12PCh. 20 - Prob. 13PCh. 20 - Prob. 14PCh. 20 - Prob. 15PCh. 20 - Prob. 16PCh. 20 - Prob. 17PCh. 20 - Prob. 18PCh. 20 - Prob. 19PCh. 20 - Prob. 20PCh. 20 - Prob. 21PCh. 20 - Prob. 22PCh. 20 - Prob. 23PCh. 20 - Prob. 24PCh. 20 - Prob. 25PCh. 20 - Prob. 26PCh. 20 - Prob. 27PCh. 20 - Prob. 28PCh. 20 - Prob. 29PCh. 20 - Prob. 30PCh. 20 - Prob. 31PCh. 20 - Prob. 32PCh. 20 - Prob. 33PCh. 20 - Prob. 34PCh. 20 - Prob. 35PCh. 20 - Prob. 36PCh. 20 - Prob. 37PCh. 20 - Prob. 38PCh. 20 - Prob. 39PCh. 20 - Prob. 40PCh. 20 - Prob. 41PCh. 20 - Prob. 42PCh. 20 - Prob. 43PCh. 20 - Prob. 44PCh. 20 - Prob. 45PCh. 20 - Prob. 46PCh. 20 - Prob. 47PCh. 20 - Prob. 48PCh. 20 - Prob. 49PCh. 20 - Prob. 50PCh. 20 - Prob. 52PCh. 20 - Prob. 53PCh. 20 - Prob. 54P
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- A man will deposit 200 with a savings bank at the beginning of each 3 months for 9 years. If the bank pays interest at the rate of 5.5% quarterly, find the sum to his credit just after the last deposit. *written solution pleasearrow_forwardCompute the future value of a $3500 deposit made today, after eight years, in an account that pays an interest rate of 5% that compounds annually. How much interest will be paid to this account?arrow_forwardAn amount of $ 500 was borrowed for the period from January 10 to October 28, 1996 at 16% interest. a) Calculate the exact simple interest. b) What is the total amount to be paid at the end of the period?arrow_forward
- A factory has decided to retire an existing machine at the end of 2020. The new machine to replace the existing one has an estimated cost of P300,000. The old machine was sold for P25,000 when it was replaced. To accumulate the balance of the required capital, the firm paid a certain amount for a down payment in 2016 and deposited the following sums in an account earning interest at 10% compounded quarterly: P50,000 at the end of 2017 P60,000 at the end of 2018 P70,000 at the end of 2019 How much was the down payment paid in 2016?arrow_forward3. On january 1, 2016, Diana opened an account with a P 50,000 deposit. On january 1, 2017, she withdraws P 25,000 and on january 1, 2019 she deposits P 75,000. If the account earns 7.5% interest, compounded yearly, and no further deposits or withdraws are made, what was the balance on january 1, 2021?arrow_forwardI need to solve all questions and in handwriting Q3/ Find the effective interest rate per quarter at nominal interest rate og 8% compounded a)quarterly, b) monthly, c) weekly, and d) daily Q4/ Suppose you make $500 deposit monthly at interest rate of 10% compounded monthly. What is the amount (F) will be at the end of 10 years?arrow_forward
- 1.You deposit $50,000 into a fund that pays 5% per year compounded annually. You plan to make the following withdrawals. You withdraw $X one year from now, $2X three years from now, and $3X five years from now. If the last withdrawal depletes the fund, what is the value of X?arrow_forwardWhich is a better choice in buying a washing machine worth P12,700.00? * A. Avail of the instalment plan which requires payment of #850.00 a month for 18 months B. Borrow from a lending company that charges 12 1/4% simple interest payable in 1 year and 6 months C. Borrow from a lending firm offering 12% compounded quarterly payable in 1 year and 6 months D. Borrow from a lending firm offering 12% compounded monthly payable in 1 year and 6 monthsarrow_forwardDeposits of 35 000.00, 48 000.00, and 25 000.00 were made in a savings account eight years, five years, and two years respectively. Determine the accumulate amount in the account today if a withdrawal of 55 000.00 was made four years ago. The applied interest rate is 12% compounded continuously.arrow_forward
- 3. On January 1 of 2017, your company purchased the following equipment. How much will you depreciate for the fiscal year ending in 2020 when you have your CPA (certified public accountant) file your tax return on April 15, 2021 assuming a straight-line depreciation method? How much will you have depreciated total as of this point in time? What are the remaining book values for each piece of equipment? 1. Dump truck, 1,000,000 birr expected resale value of 200,000 birr 2. Backhoe, 2,800,000 birr, resale 400,000 birr 3. Five computers, 10,000 birr each, no resale value 4. Flatbed trailer, 750,000 birr, resale $100,000 birr 5. Five pickup trucks, 300,000 birr each, 20,500 birr resale value each 6. Two construction jobsite trailers, 200,000 birr each, 50,000 birr resale value eacharrow_forwardQ2: Being a senior citizen you decide to invest $200,000 say for period 24 months, then describe what is the value you would expect to receive? Deposit rate (recurring deposit) available for various periods is given below.arrow_forwardSuppose that the parents of a young child decide to make annual deposits into a savings account with the first deposit being made on the child's 5th birthday and the last deposit being made on the 15th birthday. Then starting on the child's 18th birthday, the withdrawals shown below will be made. If the effective annual interest rate is 8% during this period of time, what are the annual deposits in year 5 to 15? 3200 2800 2400 2000 5 bday 15th bdav 18 19 20 21 A = ?arrow_forward
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