cost of equipment after 4 years with 2.8% inflation is:
Monthly interest rate:
For this the final amount for an EMI is given by the formula:
This gives monthly payment as:
. A company wishes to save up to purchase state-or-the-art inspection system currently worth $510,000, How much would the company have to deposit monthly into an account that pays 7.25% per year...
154. How much money must be invested in an account that pays 6% per year in- terest to be worth $20,000 at the end of 8 years if (forgetting leap years and making "convenient" assumptions): a. Interest is compounded annually? onomani a b. Interest is compounded semi-annually? c. Interest is compounded quarterly? Wo b d. Interest is compounded monthly? no wo o e. Interest is compounded weekly? f. Interest is compounded daily? g. Interest is compounded hourly? h. Interest is...
1. How much would you need to deposit in an account now in order to have $5000 in the account in 15 years? Assume the account earns 5% interest compounded monthly. 2. You currently have $7,700 (Present Value) in an account that has an interest rate of 3% per year compounded quarterly (4 times per year). You want to withdraw all your money when it reaches $18,480 (Future Value). In how many years will you be able to withdraw all...
Daniel deposits $2,000 per year at the end of the year for the next 15 years into an IRA account that currently pays 7.9%, How much will Daniel have on deposit at the end of the 15 years?college level. show equation on how you got this answer
Mary would like to save $10 000 at the end of 5 years for a future down payment on a car. (5 marks)an image of BMW's most recent concept car the GINAa. How much should she deposit at the end of each month in a savings account that pays 1.2%/a, compounded monthly, to meet her goal?b. If you currently have a part-time job, consider your hourly wage. If you do not have a job, use the minimum hourly wage in...
If you want to have $87654 in the bank at the end of 10 years and you get a 3% interest rate per year. How much money do you need to deposit each month if a) monthly compounding? b) semi-annual compounding? c) quarterly compounding? d) daily compounding?
I already have the answers, if possible i need help with the procedure for questions 1,3 and 4. 1. An asset was bought for S300K and is expected to have a salvage value of $10K after 10 years. a. Determine the yearly depreciation using straight line. (ANS: d - $29,000) b. Determine the monthly depreciation using straight line. (ANS: d, - $2,416.67) c. Determine the yearly depreciation using 150% declining balance. (eg, ANS: d,-$45,000.00, d10 $ 10,422.76) d. Determine the...
1. You have $200 to invest. If you put the money into an account earning 4% interest compounded annually, how much money will you have in 10 years? How much money will you have in 10 years if the account pays 4% simple interest? 2. You have $1,300 to invest today at 5% interest compounded annually. a. Find how much you will have accumulated in the account at the end of (1) 6 years, (2) 12 years, and (3)...
ysb A loan that compounds interest monthly has an EAR of 14.40 percent. What is the APR? 919 no 2le ns notni s2.8 ineng yd ynotnevni ati allo evods to ono. B. 13.96 percent D. 13.53 percent A. 14.10 percent C. 13.59 percent 6.You just turned 21 years old and want to retire when you turn 65. You expect to live for 25 years after retirement and want to withdraw $8,000 per month in retirement, starting one month after your...
CCC Conglomerates is analyzing two machines to determine which one it should purchase. Whichever machine is purchased will be replaced at the end of its useful life. The company requires a 12 percent rate of return and uses straight-line depreciation to a zero book value over the life of the machine. Machine A has a cost of $378,000, annual operating costs of $22,000, and a 3-year life. Machine B costs $257,000, has annual operating costs of $43,000, and a 2-year...
max eros lle E. $144,456 EE D.$153,123 A. $250,000 8.$209,90s c$172,049 01 2i 1nemeg606m lsionsnil to leos 13. Eric is considering an investment that will pay $5,000 a year for seven years, starting one year from today. H Mlo1g 9timixsn oiteR agnims3-9ah9 9simixsm dilesw 1sblords1sde,9simixsm 14. What is the effective annual rate of 14.9 percent compounded quarterly? How about compounded continuou ynotnsvni n6 26d mi noinoyni 2ti g 01.2vsh 81 99619Vs no 29is 19 ns ynotnsvni ati allse. uneg yd...
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