49. A man wishes to prepare the future of his ten-year old son. Determine the monthly savings that he should make with interest at 5.41% per annum to amount 120,000 at the time his son will be 18 years old. a. 1008.17 b. 1,001.74 c. 1,019.84 d. 989.67

49. A man wishes to prepare the future of his ten-year old son. Determine the monthly savings that he should make with interest at 5.41% per annum to amount 120,000 at the time his son will be 18 years old. a. 1008.17 b. 1,001.74 c. 1,019.84 d. 989.67

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)

5th Edition

ISBN:9781305084766

Author:Saeed Moaveni

Publisher:Saeed Moaveni

Chapter20: Engineering Economics

Section: Chapter Questions

Problem 11P

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49. A man wishes to prepare the future of his ten-year old son. Determine the monthly
savings that he should make with interest at 5.41% per annum to amount 120,000 at the
time his son will be 18 years old.
a. 1008.17
b. 1,001.74
c. 1,019.84
d. 989.67

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