How much must you deposit monthly between ages 24 and 66

Reference no: EM13546945

1.Compare to units, A and B. A has a new cost of $42,000, at life expectancy of 14 years, a salvage value of $4,000, and an annual operating cost of $3,000. B has a new cost of $21,000, a life expectancy of 7 years, a salvage value of $2,000, and an operating cost of $5,000. Assume an annual interest rate of 7%. Which of the two units would you recommend? Why?

2.You wish to retire at age 66 and at the end of each month thereafter for 30 years, to receive $5000. Assume that you begin making monthly payments into an account at age 24. You continue these payments until age 66. If the interest rate is constant at 7.5% annually, how much must you deposit monthly between ages 24 and 66?

Reference no: EM13546945

Questions Cloud

Does the flow satisfy continuity is the flow irrotational : The velocity field of a flow is given by V = x2 y i - x y2 j ft/s, where x, y, and z are in ft. Does the flow satisfy continuity? Is the flow irrotational? Determine the stream function

Use dynamic programming to determine an optimal production : An electronics firm has a contract to deliver the following number of ratios during the next three months; month 1, 200 radios; month 2; 300 radios; month 3, 300 radios. For each radio produced during months 1 and 2, a $10 variable cost is incurred; ..

Calculate the max tension min tension and the total length : A rectangular channel carries discharge of 10 m^2/s per unit width, with a sluice gate. Calculate the flow depth y3, if a hydraulic jump forms downstream of the sluice gate when y1 = 20 m.

Show that the head loss in a hydraulic jump formed : Show that the head loss in a hydraulic jump formed in a rectangular channel may be expressed as : change in E =(y2 - y1)^3/(4y1*y2) where y1 and y2 are depth of flow before and after jump.

How much must you deposit monthly between ages 24 and 66 : You wish to retire at age 66 and at the end of each month thereafter for 30 years, to receive $5000. Assume that you begin making monthly payments into an account at age 24. You continue these payments until age 66. If the interest rate is constant a..

Find the magnitude and phase of all three line to line : In a three phase balanced system, a delta connected source supplies power to a wye connected load. If the line impedance is 0.2 + j0.4 ohms, the load impedance 3 + j2 ohms, and the source phase voltage

Determine the net work produced each time this cycle : An ideal Sterling cycle operates between thermal energy reservoirs at 27 degrees C and 527 degrees C. The maximum cycle pressure is 2000 kPa. Determine the net work produced each time this cycle is executed, and the cycle's thermal efficiency

The chord length is 6ft and the wingspan : An airplane with a Clark Y airfoil cross-section weighs 3500 lbs. The chord length is 6ft and the wingspan is 36 ft. Determine the: a) Minimum speed and power to take off, if the angle of attack is 12.4 degrees.

To overload a member function of the base class : To overload a member function of the base class A: the name of the function and the formal parameter list of the corresponding function in the derived class must be the same. B: the name of the function must be different

User Account

All Pages