Calculate the amount put into saving account, Civil Engineering

Assignment Help:

Calculate the Amount put into Saving Account

If you want to have $60,000 in 10 years, the amount that should be put into a 6.0% (effective annual rate) savings account now is most nearly:

Solution: This problem could also be stated:  What is the equivalent present worth of $60,000 ten years from now if monthly money is worth 6% per year?

P = F (P/F, I, n) = $60,000(P/F, 6%, 10) = $60,000 * 0.5584 = $33,503.69

1018_Calculate the Amount put into Saving Account.png


Related Discussions:- Calculate the amount put into saving account

Chemistry, Construction and working of calomel electrode

Construction and working of calomel electrode

Why nautical mile is different from statute mile, One nautical mile is desc...

One nautical mile is described by one latitude minute of arc (there are 60 like minutes to a degree). This equals 1852 meters, and roughly (but coincidentally) 2000 yards or 6000 f

Show the overlays on concrete bridge deck, Q. Show the Overlays on concrete...

Q. Show the Overlays on concrete bridge deck? After years of servicing, some overlays can be applied on the top surface of bridges. Overlays on concrete bridge decks achieve th

Define diving equipments for underwater inspection of bridge, Define Diving...

Define Diving Equipments for Underwater Inspection of Bridge? Generally two types of diving, Scuba diving and surface supplied air diving, is employed in underwater inspection

Explain the statements about the differential levelling, Explain the Statem...

Explain the Statements about the Differential Levelling I.  Bench mark (BM) - relatively permanent point of known elevation as indicated on the Contract drawings  II. Back s

Concrete structure be entirely free of expansion joints, Question Would a c...

Question Would a concrete structure be entirely free of expansion joints and contraction ? Answer Consider that concrete structure is not subject to problem of disparity settlem

Application of bitumen to driven piles, Q. Application of bitumen to driven...

Q. Application of bitumen to driven piles? In a certain area of H-piles subjected to ground water table fluctuation, painting is occasionally applied on the surface of H-piles

Harbour layout, Harbour Layout: A harbour has the following constitue...

Harbour Layout: A harbour has the following constituent parts: (a)        An entrance channel, 100-300 m wide (b)       A turning basin, dia 400-600 m (c)        A b

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd