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

Disparity between fasteners, Question What is major disparity between ...

Question What is major disparity between fasteners , bolts and screws ? Answer Fastener is a broad term to explain something that is used as a restraint for holding

Sealing moving cracks and non-moving cracks, Sealing moving cracks and non-...

Sealing moving cracks and non-moving cracks In developing a suitable method to seal up cracks detected on concrete surface, it's of paramount importance to conclude if further

Brick pavement, Brick Pavement: In regions where stone aggregates are...

Brick Pavement: In regions where stone aggregates are not available within economical leads, bricks provide a cheaper alternative. Flat-brick or brick-on-edge pavements provi

Rcc, how many rcc is use for 1 brass?

how many rcc is use for 1 brass?

Advantages of casings for mini-piles, Question Advantages of casings ...

Question Advantages of casings for mini-piles ? Answer Left-in casings for mini-piles have next advantages as follows- (i) recover resistance to corrosion of ma

Show ph value of water, Q. PH Value of Water? It is a symbol for hydrog...

Q. PH Value of Water? It is a symbol for hydrogen ion concentration and indicates acidity or alkalinity. When P H Value more than 7 water is alkaline and less than 7 water is a

Explain the principle of working of shock transmission unit, Explain the Pr...

Explain the Principle of Working of Shock Transmission Unit? The STU consists of a machined cylinder with a transmission rod that is connected at one end to the structure and a

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