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- Bob and Mary Johnson are expecting their first child.They have decided to deposit $1000 into a savings account that pays 6% interest compounded annually on the day the child is born. They will then deposit $1000 on each birthday through the child’s 18th birthday. How much money will be in the account on the child’s 19th birthday to finance a college education? (Answer must be: $35,786) Solutions manual only with formula, without using Microsoft Excel.A young couple planning ahead for their retirement has decided that $3 million is the amount they will need in order to retire comfortably 20 years from now. For the past 5 years, they have been able to invest one of their salaries ($50,000 per year, which includes employer contributions) while living off the other salary. They plan to start a family sometime in the next 10 years and when they will have their first child, one of the parents will quit working, causing the savings to decrease to $10,000 per year thereafter. If they have realized an average ROR of 10% per year on their investments, and expect to continue at this ROR, is reaching their goal of $3 million in 20 years sensitive to when they have their first child (i.e., between now and 10 years from now)? If so, how many years from now will they have to wait before they have their first child? Use a future worth analysis.A concrete pavement on a street would cost $10,000 and would last for 5 years with negligible repairs. At the end of each years, $1,000 would be spent to remove the old surface before $10,000 is spent again to lay a new surface. Find the annual cost of the pavement at 5%.
- A friend of yours bought a small apartment building for $100,000 in a college town. She spent $10,000 of her own money for the building and obtained a mortgage from a local bank for the remaining $90,000. The annual mortgage payment to the bank is $10,500. Your friend also expects that annual maintenance on the building and grounds will be $15,000. There are four apartments (two bedrooms each) in the building that can each be rented for $360 per month. Refer to the seven-step procedure in Table 1-1 (left-hand side) to answerthese questions: (a) Does your friend have a problem? If so, what is it?(b) What are her alternatives? (Identify at least three.)(c) Estimate the economic consequences and other required data for thealternatives in Part (b).(d) Select a criterion for discriminating among alternatives, and use it to adviseyour friend on which course of action to pursue.(e) Attempt to analyze and compare the alternatives in view of at least onecriterion in addition to cost.(f) What…Q13 solution need justThe powerfull expert Hand written solution is not allowed
- A company uses a variable speed honing machine to increase the smoothness of the inside walls of hydraulic jacks. The hone uses acid-dipped “brushes” to perform this operation. Increasing the speed of the machine results in faster operation, but reduces brush life. A single “brush” costs $90.00 and can be refurbished several times before its useful life is over. The number of refurbishings depends on the honing speed. Each refurbishing costs $30.00. Assume a refurbished brush can smooth the same amount as a new brush, and that when purchased a new brush is ready to use. The operating cost for the hone and operator is $70.00/hr. Below are the data for operating the hone at 3 different speeds. The time required for changing brushes is incorporated into the honing rates below. Which honing speed is the most economical? Hint: find the cost per jack, not per hone or per cycle!A diesel engine uses a Type A filter and high-grade lubricating oil costing $5.50 per liter. With this filter, the oil and filter have to be changed every 500 hours of operation, and 5 liters of oil have to be added every 100 hours. This filter cost $148 a piece.Eighty liters of oil fill the engine. Another type, filter B, costing $120 may be used with a lower grade oil costing $4.80 per liter. However, if this filter is used, the oil andfilter have to be changed every 300 hours, and 10 liters are added after every 150 hours the engine is used. Which type of filter and oil would you recommend? Kindly show your complete solutions. Thank youA friend of yours bought a small apartment building for $100,000 in a college town. She spent $10,000 of her own money for the building and obtained a mortgage from a local bank for the remaining $90,000. The annual mortgage payment to the bank is $10,500. Your friend also expects that annual maintenance on the building and grounds will be $15,000. There are four apartments (two bedrooms each) in the building that can each be rented for $360 per month. Refer to the seven-step procedure to answer these questions: (a) Does your friend have a problem? If so, what is it? (b) What are her alternatives? (Identify at least three.) (c) Estimate the economic consequences and other required data for the alternatives in Part (b). (d) Select a criterion for discriminating among alternatives, and use it to advise your friend on which course of action to pursue. (e) Attempt to analyze and compare the alternatives in view of at least one criterion in addition to cost. (f) What should your…