Engineering Economy (16th Edition) - Standalone book
16th Edition
ISBN: 9780133439274
Author: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 5, Problem 62P
To determine
Calculate the time period.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Find i (the rate per period) and n (the number of periods) for the following loan at the given annual rate.
Semiannual payments of $4,200 are made for 13 years to repay a loan at 7% compounded semiannually.
(Type an integer or decimal rounded to four decimal places as needed.)
A credit card company wants your business. If you accept their offer and use their card, they will deposit 1.5% of your
monetary transactions into a savings account that will earn a guaranteed 6% per year. If your annual transactions total
an average of $23,000, how much will you have in this savings plan after 17 years?
Click the icon to view the interest and annuity table for discrete compounding when /= 6% per year.
The amount you will have in this savings plan after 17 years equals $(Round to the nearest cent.)
Find i (the rate per period) and n (the number of periods) for the following loan at the given annual rate.
Semiannual payments of $4,800 are made for 17 years to repay a loan at 7.45% compounded semiannually.
i =
(Type an integer or decimal rounded to four decimal places as needed.)
n=
Chapter 5 Solutions
Engineering Economy (16th Edition) - Standalone book
Ch. 5.A - Use the ERR method with = 8% per year to solve for...Ch. 5.A - Apply the ERR method with = 12% per year to the...Ch. 5.A - Are there multiple IRRs for the following...Ch. 5.A - Are there multiple IRRs for the following cash...Ch. 5 - Tennessee Tool Works (TTW) is considering...Ch. 5 - Prob. 2PCh. 5 - Prob. 3PCh. 5 - Prob. 4PCh. 5 - Prob. 5PCh. 5 - A large induced-draft fan is needed for an...
Ch. 5 - Prob. 7PCh. 5 - Prob. 8PCh. 5 - Prob. 9PCh. 5 - Prob. 10PCh. 5 - Prob. 11PCh. 5 - Prob. 12PCh. 5 - Prob. 13PCh. 5 - Prob. 14PCh. 5 - Prob. 15PCh. 5 - Prob. 16PCh. 5 - Prob. 17PCh. 5 - Prob. 18PCh. 5 - Prob. 19PCh. 5 - Prob. 20PCh. 5 - Determine the FW of the following engineering...Ch. 5 - Prob. 22PCh. 5 - Fill in Table P5-23 below when P = 10,000, S = 2,...Ch. 5 - Prob. 24PCh. 5 - A simple, direct space heating system is currently...Ch. 5 - Prob. 26PCh. 5 - Prob. 27PCh. 5 - Prob. 28PCh. 5 - Prob. 29PCh. 5 - Prob. 30PCh. 5 - Prob. 31PCh. 5 - Prob. 32PCh. 5 - Stan Moneymaker has been informed of a major...Ch. 5 - Prob. 34PCh. 5 - Prob. 35PCh. 5 - Prob. 36PCh. 5 - Prob. 37PCh. 5 - Prob. 38PCh. 5 - Prob. 39PCh. 5 - Prob. 40PCh. 5 - Prob. 41PCh. 5 - Prob. 42PCh. 5 - Prob. 43PCh. 5 - To purchase a used automobile, you borrow 10,000...Ch. 5 - Your boss has just presented you with the summary...Ch. 5 - Experts agree that the IRR of a college education...Ch. 5 - A company has the opportunity to take over a...Ch. 5 - The prospective exploration for oil in the outer...Ch. 5 - Prob. 49PCh. 5 - An integrated, combined cycle power plant produces...Ch. 5 - A computer call center is going to replace all of...Ch. 5 - Prob. 52PCh. 5 - Prob. 53PCh. 5 - Prob. 54PCh. 5 - Prob. 55PCh. 5 - Prob. 56PCh. 5 - Prob. 57PCh. 5 - Prob. 58PCh. 5 - Prob. 59PCh. 5 - a. Calculate the IRR for each of the three...Ch. 5 - Prob. 61PCh. 5 - Prob. 62PCh. 5 - Prob. 63PCh. 5 - Prob. 64SECh. 5 - Prob. 65SECh. 5 - Prob. 66SECh. 5 - A certain medical device will result in an...Ch. 5 - Refer to Problem 5-61. Develop a spreadsheet to...Ch. 5 - Prob. 69CSCh. 5 - Prob. 70CSCh. 5 - Suppose that the average utilization of the CVD...Ch. 5 - Prob. 72FECh. 5 - Prob. 73FECh. 5 - Prob. 74FECh. 5 - Prob. 75FECh. 5 - Prob. 76FECh. 5 - Prob. 77FECh. 5 - Prob. 78FECh. 5 - Prob. 79FECh. 5 - A new machine was bought for 9,000 with life of...Ch. 5 - Prob. 81FECh. 5 - Prob. 82FECh. 5 - Prob. 83FECh. 5 - Refer to Problem 5-2. Assuming the residual value...
Knowledge Booster
Similar questions
- You obtained a Joan of $25,000 to finance your home improvement project.Based on monthly compounding over 24 months, the end-of-the-month equal payment was figured to be $1200. What is the APR used for this loan?arrow_forwardIf the interest rate is 6% compounded quarterly, how long (number of quarters) will it take to earn $100 interest on an initial deposit of $300?arrow_forwardA company borrowed $200,000 at an interest rate of 8% compounded annually over six years. The loan will be repaid in installments at the end of each year, according to the accompanying repayment schedule. What will be the size of the last payment (X) that will pay off the loan?arrow_forward
- Compared the interest earned by $13,000 for seven years at 8% simple interest with interest earned by the same amount for seven years at 8% compounded annually. Why does difference occur? The simple interest earned is $? The compound interest earned is $?arrow_forwardIf you invest $4,000 at 3% interest compounded monthly, how long will it take you to reach $5,000 ?arrow_forwardKris borrows some money in her senior year to buy a new car. The car dealership allows her to defer payments for 12 months, and Kris makes 48 end-of-month payments thereafter. If the original note (loan) is for $28,000 and interest in 6% compounded monthly on the unpaid balance, how much will Kris’ payment be? The answer is $660.87, please explain why.arrow_forward
- Suppose you borrowed $10, 000 at an interest rate of 12% compounded monthly over 48 months. At the end of the first year (after 12 payments), you want to negotiate with the bank to pay off the remainder of the loan in 12 equal quarterly payments. What quarterly payment must be made if the nominal interest rate (12%) and compounding frequency (monthly) remain the same? Please explain well. Show cash flow diagramarrow_forwardSuppose you borrowed $10, 000 at an interest rate of 12% compounded monthly over 48 months. At the end of the first year (after 12 payments), you want to negotiate with the bank to pay off the remainder of the loan in 12 equal quarterly payments. What quarterly payment must be made if the nominal interest rate (12%) and compounding frequency (monthly) remain the same? Use interest formulas don’t use excelarrow_forwardWhat is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays 5.2%, compounded semiannually, so that the account will have a future value of $160,000 at the end of 14 years? (Round your answer to the nearest cent.)arrow_forward
- David borrows $25,000 at 8% compounded quarterly. He wishes to repay the money with 10 equal semiannual installments. What must be the size of the payment if the first payment is made 1 year after obtaining the $25,000?arrow_forwardCalculate the future value (F) for the cash flows at the end of each year over a four-year period, using the interest rates indicated in the provided figure. 10% Compounded quarterly 6% Compounded monthly 0 $450 1 2 $150 F=? 3 Year $450arrow_forwardYour rich uncle has just given you a high school graduation present of $500,000. The present, however, is in the form of a 25-year bond with an annual interest rate of 2.6% compounded annually. The bond says that it will be worth $500,000 in 25 years. What is this gift worth at the present time? (Round your answer to the nearest cent.)$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