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

Mechanics, What is the parallelogram law of force and prove it?

What is the parallelogram law of force and prove it?

Stone massonary, what is a 1st sort,2nd sort, 3rd sort stone masonary

what is a 1st sort,2nd sort, 3rd sort stone masonary

#civil, what is whole circle barring

what is whole circle barring

Define ways of providing the anti slip device - by bolting, Define Ways of ...

Define Ways of providing the anti slip device - By Bolting? The elastomeric bearing can be vulcanised with a stainless steel outer plate. The stainless steel plate is provided

Define hydraulic tools for underwater inspection of bridge, Define Hydrauli...

Define Hydraulic tools for underwater inspection of bridge? Hydraulic tools involve grinders, rotary brushes and scrubbers. The benefits of hydraulic tools are the same as thos

Foundation, why is the foundation failure?

why is the foundation failure?

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