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

REQUIREMENT OF GOOD BUILDING STONE, HOW TO MAKE A GOOD BUILDING .? TELL ABO...

HOW TO MAKE A GOOD BUILDING .? TELL ABOUT SOME TIPS OF REQUIREMENT OF GOOD BUILDING STONE? AND SAY ABOUT CEMENT?

Determine the cubic yard in the ground, An earthwork contractor encountered...

An earthwork contractor encountered a location within the borrow area where the geological conditions changed.  Instead of encountering 100 cubic yards of wet clay, the contractor

Method of section, III. Calculate the magnitude and sense of the member for...

III. Calculate the magnitude and sense of the member forces BC, BG and HG using the method of sections

Precast pile, when a precast pile is single point lifting and when double p...

when a precast pile is single point lifting and when double point lifting- what are the moment coefficient of them?

Classification of timber, Classification of Timber Several bases are co...

Classification of Timber Several bases are considered for the classification of timbers. The following are the essential basis: Mode of growth Modulus of elasticity

Structural analysis and design, Scenario You are working as a structural...

Scenario You are working as a structural technician and have been charged with a range of jobs   involving analysis and design of a number of structural members. Task 1 a)

Open channel, design of irrigation channel permissible velocity table

design of irrigation channel permissible velocity table

Determine the uniformly distributed load, A rectangular area 4 m × 6 m carr...

A rectangular area 4 m × 6 m carries a uniformly distributed load of 100 kN/m 2 at the ground surface. Estimate the vertical pressure at a depth of 6 m vertically below the centre

Premix carpet - road pavements, Premix Carpet: An open graded premix ...

Premix Carpet: An open graded premix carpet, commonly called premix carpet (PC), is an open graded premixed material laid to a thickness of 20 mm and rolled, followed by a se

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