Basics Of Engineering Economy
2nd Edition
ISBN: 9780073376356
Author: Leland Blank, Anthony Tarquin
Publisher: MCGRAW-HILL HIGHER EDUCATION
expand_more
expand_more
format_list_bulleted
Question
Chapter 3, Problem 60P
To determine
Calculate the annual worth.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Mr. Smith has saved $1969 each year for 20 years. A year after the saving period ended, Mr. Smith withdrew $7365 each year for a period of 5 years. In the sixth and seventh years, he only withdrew $5136 per year. In the eighth year, he decided to withdraw the remaining money in his account. If the interest rate was 6.41% per year throughout the whole period, what was the amount he withdrew at the end of the eighth year?
David is planning to contribute $8,000 a year into a mutual fund that earns an average of 8% per year. If he continues to contribute for the next 10 years, how much would he have in his account?
3.24 A sum of $120,000 now at an interest rate of 10% per year
compounded semiannually is equivalent to how much money
6 years ago? Solve using tabulated factors in two ways:
using the effective annual rate and the effective semiannual
rate.
Chapter 3 Solutions
Basics Of Engineering Economy
Ch. 3 - Prob. 1PCh. 3 - Prob. 2PCh. 3 - Prob. 3PCh. 3 - Prob. 4PCh. 3 - Prob. 5PCh. 3 - Convert an interest rate of 1.5% per month into a...Ch. 3 - Prob. 7PCh. 3 - Prob. 8PCh. 3 - Prob. 9PCh. 3 - Prob. 10P
Ch. 3 - Prob. 11PCh. 3 - Prob. 12PCh. 3 - Prob. 13PCh. 3 - Prob. 14PCh. 3 - Prob. 15PCh. 3 - Prob. 16PCh. 3 - Prob. 17PCh. 3 - Prob. 18PCh. 3 - Prob. 19PCh. 3 - Prob. 20PCh. 3 - Prob. 21PCh. 3 - Prob. 22PCh. 3 - Prob. 23PCh. 3 - Prob. 24PCh. 3 - Prob. 25PCh. 3 - Prob. 26PCh. 3 - Prob. 27PCh. 3 - Prob. 28PCh. 3 - Prob. 29PCh. 3 - Prob. 30PCh. 3 - Prob. 31PCh. 3 - Prob. 32PCh. 3 - Prob. 33PCh. 3 - Prob. 34PCh. 3 - Prob. 35PCh. 3 - Prob. 36PCh. 3 - Prob. 37PCh. 3 - Prob. 38PCh. 3 - Prob. 39PCh. 3 - Prob. 40PCh. 3 - Prob. 41PCh. 3 - Prob. 42PCh. 3 - Erbitux is a colorectal cancer treatment drug that...Ch. 3 - Prob. 44PCh. 3 - Prob. 45PCh. 3 - Prob. 46PCh. 3 - Prob. 47PCh. 3 - Prob. 48PCh. 3 - Prob. 49PCh. 3 - Prob. 50PCh. 3 - Prob. 51PCh. 3 - Prob. 52PCh. 3 - Prob. 53PCh. 3 - Prob. 54PCh. 3 - Prob. 55PCh. 3 - Prob. 56PCh. 3 - Prob. 57PCh. 3 - Prob. 58PCh. 3 - The initial cost of a pulverized coal cyclone...Ch. 3 - Prob. 60PCh. 3 - Prob. 61PCh. 3 - Prob. 62PCh. 3 - Prob. 63PCh. 3 - Prob. 64PCh. 3 - Prob. 65PCh. 3 - Prob. 66PCh. 3 - Prob. 67PCh. 3 - Prob. 68APQCh. 3 - Prob. 69APQCh. 3 - Prob. 70APQCh. 3 - Prob. 71APQCh. 3 - Prob. 72APQCh. 3 - Prob. 73APQCh. 3 - Prob. 74APQCh. 3 - Prob. 75APQCh. 3 - Prob. 76APQ
Knowledge Booster
Similar questions
- Joseph Ray just received an inheritance of $50,000 from his great aunt. He plans to invest the funds for retirement. If Joseph can earn 6% per year with quarterly compounding for 30 years, how much will he have accumulated? $271,550 $269,113 $284,622 $298,466arrow_forwardBill Mitselfik borrowed $16,000 to be repaid in quarterly installments over the next five years. The interest rate he is being charged is 20% per year compounded quarterly. What is his quarterly payment?arrow_forwardWhat is the present value of $100 realized two years from now if the interest rate is 10%?arrow_forward
- You borrowed $100,000 at 6% per year compounded monthly for 48 months.Which is the number of first month where the outstanding loan balance is less than $40,000?arrow_forwardCompute the value of P for the accompanying cash flow diagram. Assume i =6% per year.arrow_forwardFor the second part, the future value of 8% per a year compounded monthly for 45 years. Please show your calculation for that value.arrow_forward
- 1.A new engineering graduate expects to initially invest $10,000 towards her retirement at the end of her first year of work, and then annually increase the amount deposited into her retirement account by $1,000 each subsequent year for thirty years. What is the present worth of the investment plan if the retirement account pays 8% per year and is compounded annually?arrow_forwardJennifer Creek is saving up for a new car. She wants to finance no more than $10,000 of the $26,000 estimated price in two years. She deposits $5,000 into a savings account now and will make monthly deposits for the next two years. If the savings account pays a nominal interest rate of 3% per year with monthly compounding, how much must she deposit each month?arrow_forwardIF you wanted to accumulate $800,000 for your retirement 30 years from now, by how much would you have to increase your monthly deposit (uniformly) each month if your first deposit is $100 and the interest rate is 7% per year compounded monthly?arrow_forward
- How much would your parents have to deposit each month into an account that grows at a rate of 11% per year compounded quarterly if they want to have $62,000 at the end of year 3 to cover part of your college expenses? Assume no interperiod compounding. Parents have to deposit $ each month.arrow_forwardRegular payments of $2000 are made at the end of each compounding period. The account earns a rate of 5.1% per year, compounded 4 times per year. What is the future value of this account after 38 years? Answer: $arrow_forwardCovido deposits $750 in a savings account at the beginning of each year, starting now, for the next 10 years. If the bank pays 7% per year, compounded annually, how much money will Covido have accumulated by the end of the 10th year?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education