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

Linear algebra concept, Scenario: You are working for a structural engineer...

Scenario: You are working for a structural engineering firm and you have been assigned the task of computing the code checks on a new structural design. Though another commercial p

coursework (commercial management), Ask que1. Identify the risks involved ...

Ask que1. Identify the risks involved in this project related to cost in the perspective of the customer and analyse the probability of acceptance of such a project by customers. 2

Define the meaning of grout - concrete, Define the meaning of Grout - Concr...

Define the meaning of Grout - Concrete Grout should be made with any type of recommended cement and using water of a required quality. If very large size ducts are to be groute

Advantageous to use concrete of very high power, Question Will it advantag...

Question Will it advantageous to use concrete of very high power for example exceeding 60MPa? What are potential problems connected with high strength concrete ? Answer To in

Surveying, Distance ABC was measured with a 30m. Chain tested and found to ...

Distance ABC was measured with a 30m. Chain tested and found to be correct in the beginning of the work .after measuring AB=1.2 km chain was found to be 10 cm. To long chaining was

Distomat., write a note on distomat

write a note on distomat

Surveying, tracing paper method for solving three point problem?

tracing paper method for solving three point problem?

RCC, WHAT IS RCC

WHAT IS RCC

Solid mensuration, the two sides of a triangle are 17cm and 28 cm long, and...

the two sides of a triangle are 17cm and 28 cm long, and the length of the median drawn to the third side is equal to 19.5. find the distance from an endpoint of this median to the

Explain the driver expectancy, Explain the Driver Expectancy A fundamen...

Explain the Driver Expectancy A fundamental component of driver information processing and perception. Drivers operate with a set of expectancies, e.g.: 1) Freeway exits wil

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