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

Determine the term- shrinkage of concrete, Determine the term- Shrinkage of...

Determine the term- Shrinkage of Concrete Shrinkage of concrete is primarily due to gradual loss of moisture which results in change in volume. The shrinkage of concrete depend

Bituminous concrete, Bituminous Concrete: Bituminous Concrete (BC) is...

Bituminous Concrete: Bituminous Concrete (BC) is a hot-mix superior type of bituminous surfacing, having a low voids (3-5 per cent), good durability high imperviousness and g

Determine the variation of safe bearing capacity of soi, State the algebrai...

State the algebraic equations showing the variation of safe bearing capacity of soil (for clay and sand to be given separately) in shallow foundation with: (i) depth of foundati

Differentiate between concrete and tendons, Differentiate between concrete ...

Differentiate between concrete and tendons In the case of pre-tensioned concrete members, the transfer of prestress takes place due to the bond between concrete and tendons. In

Traverse surveying, How to calculate the whole circle bearing from the incl...

How to calculate the whole circle bearing from the included angles?

Bitumen tests, discussion of each bitumen test, its significance and import...

discussion of each bitumen test, its significance and importance in understanding and working with bitumen

Packing resources in joint of concrete pipes in pipe jacking, Question ...

Question What is key function of packing resources in joint of concrete pipes in pipe jacking ? Answer Packing resources are about 10 to 20mm broad and are usually mad

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