An engineer plans to retire in exactly one year and wants an account that will pay him ₱31,000 a year for the next 14 years. Assuming a 6% annual effective rate, what is the amount he would need to deposit now? (The fund will be depleted after 14 years). Find P

An engineer plans to retire in exactly one year and wants an account that will pay him ₱31,000 a year for the next 14 years. Assuming a 6% annual effective rate, what is the amount he would need to deposit now? (The fund will be depleted after 14 years). Find P

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 12P

See similar textbooks

Related questions

Q: Determine the equivalent amount pf money at the beginning of the second year if interest is 6% per…

A: Given principal amount = 10000 Interest rate =6% Compounded monthly

Q: A businessman engineer loaned P 100,000 at 14% interest and paid P 1,600 per annum for the last 8…

A: It is required to determine the amount to be paid at the end of 10th year. Total loan…

Q: A corporation sold an issue of 20-year bonds, having a total face value of P10,000,000 for…

A: Total time n =20 year Face value fv =10000000 Rate I =12% /2 =6.1 Bond bear interest =8.1%

Q: At the birth of a girl, what amount should her mother invest in order to provide the daughter with…

Q: 4. A famer bought a tractor consisting of PhP 35,000 payable in ten semi- annual payments, each…

Q: A Php200000 loan was originally made at 8% simple interest for 4 years. At the end of this period,…

A: Total interest for initial 4 years = P200000 × 8100×4 = P64000 Total amount at the end of 4 years…

Q: Two years ago, Snoop Lion deposited P15,000.00 in a fund that earns 10% interest compounded…

A: Given Interest rate = 10% compounded semiannualy 15000 deposited 2-years ago 10000 deposited today…

Q: An engineer who is planning his retirement has decided that he will have to withdraw $10 000 from…

A: To determine the initial sum of money in a retirement account that allows for annual withdrawals for…

Q: Which Interest rate is better to use the simple interest or compounded interest plan, can i have a…

A: Incase of fixed deposits or investing , compound interest is better . if the take loans and…

Q: A car was bought on an installment basis with a monthly installment of 30,000 php for 60 months. If…

A: Given:- Monthly instalment = P30,000 Time n = 60 months Annual interest rate R = 12%

Q: ou are asked by the manager of your company to determine the sum required to buy a company car and…

A: Given : You are asked by the manager of your company to determine the sum required to buy a company…

Q: A man borrowed P8,000 from a bank that charges 5.5 % interest in advance. He received P7,650 from…

Q: A company is planning to expand its business after 5 years from now. The expected money required for…

A: Given, Money required after 5 years=$ 5,00,00,000amount company can invest at the end of every year…

Q: Q2: Being a senior citizen you decide to invest $200,000 say for period 24 months, then describe…

A: Given: The amount to be invested is $200,000 The duration is 24 months. The deposit rate for 24…

Q: Lukas Center acquired a new Laser Machine worth ₱580,000.00. The center plans to pay 35% advance…

A: Given Data Worth of new Laser Machine =580000.00 Advance payment = 35% Time duration to pay the…

Q: Solve for the present worth of a perpetual payment of PS0,000.00 every 5 years? Interest rate is 6N

A: It is required to determine the perpetual payment paid per year. Payment paid per year=Total…

Q: 16. Lia plans to buy a house for Php 158482. She wants to make a down payment of Php 23912 and to…

Q: A young woman with the age of 20 has just passed the board exam. She accepts a teaching position at…

Q: JOSH WANTS TO BUY A HOUSE AND WOULD NEED A $200,000 LOAN. HE WILL AMORTIZE THE LOAN FOR OVER 15…

A: Given, Loan Amount, P0 = $200,000 Time to amortize the loan, T0 = 15 years Rate of interest, R0 = 5%…

Q: Determine the present worth of a geometric gradient series of Contract B at an interest rate of 8%…

Q: Assume the rate of investment is given by the function I(t) =lnt. Compute the total capital…

Q: Engr. Secula wanted to retire in 20 years with ₱1.5 million. How much must he save annually starting…

A: Given that: Future Worth, F = ₱1.5 million = ₱1500000 Time period, n = 20…

Q: Engr. Armando lends P5,000 at 6% simple interest for 4 years. At the end of this time, he invests…

A: simple interest in first 4 year=P*r*t100=5000*6*4100= P1200 at the end of 4th year he had total= P…

Q: Determine the present worth of the following cash flows based on an interest rate of 6.18% per year,…

Q: 1. How much interest is earned in 4 years on 12,000 deposited in an account paying 4% compounded…

A: Interest per annum = 4% intereset on the amount semiannually (r) = 4/2 = 2% Number of year (n) = 4…

Q: What is the principal amount if the amount of interest at the end of 2 1/2 year is P4,500 for a…

Q: On the day his son was born, an engineer opened a trust fund by investing Php. 60,000.00 at 7%…

Q: The effective annual interest rate is given to be 19.2%. What is the nominal ineterest rate per year…

A: Given Annual interest rate, i =19.2% =0.192 Required Nominal interest rate for continuous…

Q: Solve the given problem using Polya’s 4 steps in problem solving In 2018 a businessman borrowed Php…

A: Polya's 4 steps: First, you have to understand the problem. After understanding, then make a…

Q: 2. Attach a complete solution. Draw the cash flow diagram. Suppose that P 4500 is deposited each…

Q: 42. A bank offers a 12 % interest to be compounded annually. How much should a teacher deposit now…

Q: A business invests P 10,000 today to be repaid in 5 years in one lump sum at 12% compounded…

Q: Practice Problem Set No. 4: (Continuation) Problem 4: If money is worth 8% compounded quarterly,…

A: L

Q: Drew owes P250, 000.00 due in one year and P175, 000.00 due in 4 years. She agrees to pay P350,…

A: Amount owed in 1 year= 250000

Q: . An engineer purchased a bond for ₱1M. This pays an interest of ₱50,000.00 each year for 20 years,…

Q: 3. A machine having a first cost of P 60,000.00 will be retired at the end of 8 years. Depreciation…

Q: If money is worth 5% compounded quarterly, find the equated time for paying a loan of P 150,000 due…

Q: Eng David is required to pay 57500pesos at the end of 30 days of 60000pesos at the end of 80…

Q: Solve the following problems with complete solution. 7. Calculate the finance charge for a credit…

A: Introduction : Given that average daily balance is 5,600 rs Monthly interest rate is 1.35 %…

Q: The cash flows and initial investment for two different projects are given below Calculate the…

A: Given data,

Q: An equipment costing P250,000 has an estimated life of 15 years with a book value of P30,000 at the…

A: Book value: Book value is an investment's original price less any depreciation expense and cognitive…

Q: 5. In five years P18,000 will be bedded to pay for a building renovation. In order to generate this…

Q: Q3:How much money must you deposit in year 6 if you deposit $5000 now and you want to have $12,000…

Q: If Conrad paid P1,250 in interest on a 4-year loan of P12,800. What was the interest rate? A. 1.5%…

A: Given data: Interest (I)=1250 Principal (P)=12800 time (t)= 4 Interest Rate(r)=?

Q: Your friend made an investment of P 45,000.00 for 60 days at 15% simple interest. If withholding tax…

A: To determine the net interest due for given investment. Given, Investment sum (A) = P 45000.0 Rate…

Q: What is the present value of a stream of monthly payments of $500 each over 10 years, if the…

A: step 1-

Q: A bank can lend a client Php 10,000.00 with a simple annual interest rate of 3% to be paid after 3…

A: Explained below

Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, civil-engineering and related others by exploring similar questions and additional content below.

Similar questions

Determine the equivalent amount pf money at the beginning of the second year if interest is 6% per year, compounded monthly
John bought a car with cash value of P15,294 on the installment plan under the following terms: P4,312 cash upon delivery and the balance payable in 12 equal monthly payments. Assuming money is worth 5.23% compounded quarterly. What is his monthly payments? How much is his remaining debt at the end of eight months? pls provide the cash flow. thanks
Miw deposited P15, 000 each year for 10 years, how much annuity can Miw get annually from the bank every year for ten years starting one year after his last deposit. Rate of interest is 8%.
Meyo is left with an inheritance from his father. He has an option to receive P2.5 M at the end of 10 years, however he wishes to receive the money at the end of each year for 6 years. If interest rate is 8% how much would he receive every year?
7. If Elvira borrowed P 130,000 from Rona with an interest rate of 12% per year compounded quarterly. What is the effective rate?
Mr. Smith plans to purchase a new $10 000 automobile. He wants to borrow all the money for the car, and repay it in equal monthly installments over a 4-year period. The nominal interest rate is 11% per year, compounded continuously. What will be Mr. Smith's monthly payment?
A businessman borrowed P200,000 with interest at the rate of 4.5% compounded semi annually. He agrees to discharge his obligation by paying a series of 9 equal semi-annual payments, the first being due at the end of 4.3 years. Find the semi-annual payment. Express your answer in whole number.
A man will deposit 200 with a savings bank at the beginning of each 3 months for 9 years. If the bank pays interest at the rate of 5.5% quarterly, find the sum to his credit just after the last deposit. *written solution please
Determine the present worth of the following cash flows based on an interest rate of 6.18% per year, compunded annually. End of Year 0 = Php 5724 End of Year 1 = Php 5972 End of Year 2 = Php 5203 End of Year 3 = Php 5767 End of Year 4 = Php 5492 End of Year 5 = Php 5787
A man deposits a uniform amount of P 2,500 at the end of each year with interest of 2.50% compounded annually. Find the future worth factor for uniform-series payment after 20 years.
A man has deposited $50 000 in a retirement income plan with a local bank. Thisb ank pays 9% per year, compounded annually, on such deposits. What is the maximum amount the man can withdraw at the end of each year and still have the funds last for 12 years eng econ
Mr.X makes a deposit of 10,000 OMR in an account at the end of every year. After 5 years he receives a raise and then makes deposit of 12,000 OMR every year. What is the balance in the amount after 8 years assuming an APR of 4% compounded yearly. Show the neat cash flow diagram.