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

Strength of materials, #questionwhat is the shear force and bending moment....

#questionwhat is the shear force and bending moment..

Concrete mix design, Concrete Mix Design: Concrete mix design is done...

Concrete Mix Design: Concrete mix design is done in a laboratory to achieve the desired strength and workability. The mix design is done to achieve strength slightly higher t

Offset survey, what is offset survey and how it is done

what is offset survey and how it is done

Raised check rails for obtuse crossing, Raised Check Rails for obtuse cross...

Raised Check Rails for obtuse crossing In order to provide guided path way in throat portion of 1 in 8 1/2 BG obtuse diamond crossing, the check rails are raised by welding of

Diferential equations, show that Y = 4e2x - 2e-3x is a solution of initia...

show that Y = 4e2x - 2e-3x is a solution of initial-value problem (d2y)/(dx2)+ (dy)/(dx) - 6y=0 ; y(0)=6 ; y’(0)=2 . is Y = 2e2x - 4e-3x also a solution of this proble

Advantages of unbonded post-tensioning systems, Advantages of unbonded post...

Advantages of unbonded post-tensioning systems Similarly, some advantages of unbonded post-tensioning systems over bonded post-tensioning ones may be written as under :  (a)

Main functions of slip joints in block work seawalls, Question What are...

Question What are main functions of slip joints in block work seawalls ? Answer Slip joints are joints that are formed during a complete vertical plane from cope

Determine minimum radius that can used on horizontal curve, What is the min...

What is the minimum radius, R min , that can be used on a horizontal curve with a 70 mph design speed, a maximum superelevation, e max = 8%, and a side friction factor, f = 0.10?

Surveying, describe the two fundermental purposes of surveying

describe the two fundermental purposes of surveying

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