EBK BASICS OF ENGINEERING ECONOMY
EBK BASICS OF ENGINEERING ECONOMY
2nd Edition
ISBN: 8220102797123
Author: Blank
Publisher: YUZU
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Chapter 3, Problem 71APQ
To determine

Calculate the nominal interest rate.

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At a compound interest rate of 10% per year, the amount that $10,000 one year ago is equivalent to now is closest to: (a) $8264 (b) $9091 (c) $11,000 (d ) $12,100
Callahan Construction borrowed $2.6 million to finance the construction of an entertainment complex in a smart community development project. The company made “interest only” payments of $312,000 each year for 3 years and then repaid the principal in a single lump sum payment of $2.6 million. What was the interest rate on the loan?
An interest rate of 12% per year, compounded monthly, is nearest to: (a) 12.08% per year (b) 12.28% per year (c) 12.48% per year (d) 12.68% per year

Chapter 3 Solutions

EBK BASICS OF ENGINEERING ECONOMY

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