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

Survey, Procedures of graphical interpolation

Procedures of graphical interpolation

WATER RESOURCES SYSTEM PLANNING AND MANAGEMENT, Two crops are grown on land...

Two crops are grown on land of 20ha.The cost of raising crop 1 is 3unit/ha, while for crop 2 it is 1 unit/ha.The benefit from crop 1 is 5unit/ha and from crop 2, it is 2 unit/ha. A

Purpose of the gap in the road on this bridge, What is the purpose of the g...

What is the purpose of the gap in the road on this bridge? Ans) Purpose of the gap in the road is to permit the road to expand and contract with temperature alters without causi

Define the types of sedimentation, Define the Types of Sedimentation 1....

Define the Types of Sedimentation 1. Type I Particles that settle discretely (settle as individual particles) sand, grit Pre-sedimentation for sand prior to co

Traditional marine piling system of steel tubular pile, Question What i...

Question What is problem in traditional marine piling system of steel tubular pile with concrete infill and what are key possible remedial measures? Answer In design

Slope IN Civil, How to calculate the slope in civil engineering?????

How to calculate the slope in civil engineering?????

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