How much would her first deposit be in actual dollars

Assignment Help Civil Engineering

Reference no: EM13539092

On her 23 birthday, and engineer decides to start saving toward building ip a retirement fund that pays 8% interest compounded quarterly (market interest rate) She feels that 600,000 worth of purchasing power in today's dollars will be adequate to see her through her sunset years after her 63rd bithday. Assume a general inflation rate of 6% per year.

a)If she plans to save by makeing 160 equal quarterly deposites, what should be the amount of each quarterly deposit in actual dollers?

b)If she plans to save by makind end of the year deposites, increasing by 1000 dollers over each subsequent year, how much would her first deposite be, in actual dollars?

Reference no: EM13539092

Questions Cloud

Which emits more sox per unit amount of electricity : Which emits more SOx per unit amount of electricity produced: a coal-fired plant with a 90% efficient SO2 scrubber or an oil-fired plant with no scrubber? Assume the coal has a heat content of 13,000 Btu/lb and contains 3.5% sulfur, and that the oil ..

Introduction to business : Introduction to Business

Determine the max allowable stress : Given an aluminum simply supported beam with overhang, determine the applied load at the free end with a max deflection of 1”. b= 1”

Draw the shear and moment diagrams for the girder : The concrete girder supports the two column loads. If the soil pressure under the girder is assumed to be uniform, determine its intensity w and the placement d of the column at B. Draw the shear and moment diagrams for the girder.

How much would her first deposit be in actual dollars : On her 23 birthday, and engineer decides to start saving toward building ip a retirement fund that pays 8% interest compounded quarterly (market interest rate) She feels that 600,000 worth of purchasing power in today's dollars will be adequate

Determine what force must be applied to the plunger : A hypodermic syringe is attached to a needle that has an internal radius of 0.301 mm and a length of 3.01 cm. What force must be applied to the plunger

At what rate must 15c makeup water be provided : A 600 MW power plant has an efficiency of 36 percent with 15 percent of the waste heat being released to the atmosphere as stack heat and the other 85 percent taken away in the cooling water. Instead of drawing water from a river, heating it, and ret..

Determine the location of the centroid relative : Design a 2:1 rectangular duct and fan system to pull 40000 scfm of air carrying a medium-density dust through an FCD (Final Control Device) with a ?P of 6.0 in. H2O. Assume the duct system must extend 120-feet and has four 90° elbows.

Calculate the dispersion of the slab : A light beam containing red and violet wavelengths is incident on a slab of quartz at an angle of incidence of 50.7°. Find the dispersion of the slab

User Account

All Pages