I need answer for this in 10 minutes pls How much is there in a savings account in 2 years if wedeposit $5,000 now at a rate of 0.25% per monthcompounded yearly?$53692$9146$101684.$53043.

Compound interest formula: A = P (1 + r/n)nt where A-> future value P-> principal value r->…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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An engineer intends to travel abroad to take a postgraduate course at a university. He estimates he will need $5,000 to settle in and an additional $3,000 monthly over two years to complete his degree. What value would he need to have today to make his plans viable, considering that he could apply the money at a rate of 6.0% p.a.? ($72,798.10) (I would like the development of step-by-step calculations without using excel)
Current maintenance cost of a certain machine is P1,200 and increases by 250 each year for the next 10 years. If interest is 8% what present sum of money is necessary to be set aside now to pay for the maintenance cost for the next 10 years. a. P14,546.306 b. P16,546.306 c. P15,446.306 d. P14,456.306
What is the nominal rate compounded continuously for 5 years if the capital recovery factor is 0.2386?
You borrow P3,500.00 for one year from a friend at an interest rate of 1.5% per month instead of taking a loan from a bank at a rate of 18% per year. How much lesser you will pay by borrowing the money from the bank?
Determine the amount needed now to purchase a machine for P200,000, provide an annualfund of P15,000 for operation and maintenance, and to replace it at the same cost at the end of every 15th year period. Money is worth 7.5% compounded annually.
19. For the purpose of providing yearly scholarships to poor but deserving students, a wealthy engineer made a lump-sum deposit in an endowment fund set up by a wellknown university. The fund will provide P200 000.00 after one year, increasing by P10 000.00 each year until the end of the 15" year where payments become uniform and continue forever. If the fund will earn 9% interest per year, determine the amount of the deposit. (Ans. P3087 350.04)
At a compound interest rate of 10% per year, $10,000 one year ago is equivalent to this amount now:a. $8,264b. $9,091c. $11,000d. $12,100
A guy deposited P4,000, P4,500 and P5,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.07 per annum. What is the equivalent uniform deposit for the uniform gradient only?
B) An equipment has a maintenance cost of P20,000 a year for two years, increased by P40,000 at the end of four years, and P80,000 at the end of 8 years. Compute the semi-annual amount that must be set for this equipment. Money is worth 10% compounded annually.
You expect to contribute to an investment fund for your retirement over the next 30 years with an annual deposit of a yet-to-be determined amount. Assume your goal is to have $2 million available when you stop the annual desposits and that the fund is able to return 10% per year every year. (a) Determine if you will reach your goal for either of the following two deposit scenarios: (1) $12,000 each and every year; (2) $8000 at the end of next year for 15 years, followed by $15,000 deposits in each of years 16 through 30. (b) Determine the exact number of years necessary to accumulate the $2 million if $12,000 is deposited each year until the goal is achieved. (c) For a little more of a challenge, use only the FV function to determine the number of years necessary to attain the $2 million goal for the second deposit scenario, assuming the $15,000 is deposited annually until the goal is achieved.
Suppose you deposit $359 per week in a bank account for 5 years. The interest rate(APR) is 5.2%, compounded weekly. What is the present equivalent value?
What is the accumulated value at the end of 10 years if P1k is invested at 12% compounded continuously. a. P10,127.497 b. P10,320.197 c. P3320.117 d. P3230.01

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How much is there in a savings account in 2 years if we deposit $5,000 now at a rate of 0.25% per month compounded yearly?