Engineering Economy (17th Edition)
17th Edition
ISBN: 9780134870069
Author: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 4, Problem 5P
To determine
Calculate the interest payment.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
How much interest is payable each year on a loan of
$3,000
if the interest rate is
12%
(simple interest) per year when half of the loan principal will be repaid as a lump sum at the end of
five
years and the other half will be repaid in one lump-sum amount at the end of eight years? How much interest will be paid over the eight-year period? The interest amount is paid at the end of each year.
Year. Interest Accrued for Year
1 ?
2 ?
3 ?
4 ?
5 ?
6 ?
7 ?
8 ?
Total Interest ?
If you obtained a loan of P1.5Million at the rate of 12% per year interest rate to build a house, how much you pay yearly to amortize the loan within a period of 15 years?
How much interest is payable each year on a loan of $2,000 if the interest rate is 10% per year when half of the loan principal will be repaid as a lump sum at the end of four years and the other half will be repaid in one lump-sum amount at the end of eight years? How much interest will be paid over the eight-year period?
Chapter 4 Solutions
Engineering Economy (17th Edition)
Ch. 4 - Compare the interest earned by 9,000 for five...Ch. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - Prob. 4PCh. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7PCh. 4 - Prob. 8PCh. 4 - Prob. 9PCh. 4 - Prob. 10P
Ch. 4 - Prob. 11PCh. 4 - Prob. 12PCh. 4 - Prob. 13PCh. 4 - Prob. 14PCh. 4 - Prob. 15PCh. 4 - Prob. 16PCh. 4 - Prob. 17PCh. 4 - Prob. 18PCh. 4 - Prob. 19PCh. 4 - Prob. 20PCh. 4 - Prob. 21PCh. 4 - Prob. 22PCh. 4 - Prob. 23PCh. 4 - Prob. 24PCh. 4 - Prob. 25PCh. 4 - Prob. 26PCh. 4 - Prob. 27PCh. 4 - Prob. 28PCh. 4 - Prob. 29PCh. 4 - Prob. 30PCh. 4 - Prob. 31PCh. 4 - Prob. 32PCh. 4 - Automobiles of the future will most likely be...Ch. 4 - Prob. 34PCh. 4 - Prob. 35PCh. 4 - A geothermal heat pump can save up to 80% of the...Ch. 4 - Prob. 37PCh. 4 - Prob. 38PCh. 4 - Prob. 39PCh. 4 - Prob. 40PCh. 4 - Prob. 41PCh. 4 - Prob. 42PCh. 4 - Prob. 43PCh. 4 - Prob. 44PCh. 4 - Prob. 45PCh. 4 - Prob. 46PCh. 4 - Prob. 47PCh. 4 - Prob. 48PCh. 4 - Prob. 49PCh. 4 - Prob. 50PCh. 4 - Prob. 51PCh. 4 - Prob. 52PCh. 4 - DuPont claims that its synthetic composites will...Ch. 4 - Prob. 54PCh. 4 - Prob. 55PCh. 4 - Prob. 56PCh. 4 - Prob. 57PCh. 4 - Prob. 58PCh. 4 - Prob. 59PCh. 4 - Prob. 60PCh. 4 - Prob. 61PCh. 4 - Prob. 62PCh. 4 - Prob. 63PCh. 4 - Prob. 64PCh. 4 - Prob. 65PCh. 4 - Prob. 66PCh. 4 - Prob. 67PCh. 4 - Prob. 68PCh. 4 - Prob. 69PCh. 4 - Prob. 70PCh. 4 - Prob. 71PCh. 4 - Prob. 72PCh. 4 - Prob. 73PCh. 4 - Prob. 74PCh. 4 - Prob. 75PCh. 4 - Prob. 76PCh. 4 - Prob. 77PCh. 4 - Prob. 78PCh. 4 - Prob. 79PCh. 4 - Prob. 80PCh. 4 - Prob. 81PCh. 4 - Prob. 82PCh. 4 - Prob. 83PCh. 4 - Prob. 84PCh. 4 - Prob. 85PCh. 4 - Prob. 86PCh. 4 - Prob. 87PCh. 4 - Prob. 88PCh. 4 - Prob. 89PCh. 4 - Prob. 90PCh. 4 - Prob. 91PCh. 4 - Prob. 92PCh. 4 - Prob. 93PCh. 4 - Prob. 94PCh. 4 - Prob. 95PCh. 4 - Prob. 96PCh. 4 - Prob. 97PCh. 4 - Prob. 98PCh. 4 - Prob. 99PCh. 4 - Prob. 100PCh. 4 - Prob. 101PCh. 4 - Prob. 102PCh. 4 - Prob. 103PCh. 4 - Prob. 104PCh. 4 - Prob. 105PCh. 4 - Prob. 106PCh. 4 - Prob. 107PCh. 4 - Prob. 108PCh. 4 - Prob. 109PCh. 4 - Prob. 110PCh. 4 - Prob. 111PCh. 4 - Prob. 112PCh. 4 - Prob. 113PCh. 4 - Prob. 114PCh. 4 - Prob. 115PCh. 4 - Prob. 116PCh. 4 - Prob. 117PCh. 4 - Prob. 118PCh. 4 - Prob. 119PCh. 4 - Prob. 120PCh. 4 - Prob. 121PCh. 4 - Prob. 122PCh. 4 - Prob. 123PCh. 4 - Prob. 124PCh. 4 - Prob. 125PCh. 4 - Prob. 126PCh. 4 - Analyze the truth of this statement, assuming you...Ch. 4 - Prob. 128PCh. 4 - Prob. 129SECh. 4 - Prob. 130SECh. 4 - Prob. 131SECh. 4 - Prob. 132SECh. 4 - Prob. 133CSCh. 4 - Prob. 134CSCh. 4 - Prob. 135CSCh. 4 - Prob. 136FECh. 4 - Prob. 137FECh. 4 - Prob. 138FECh. 4 - Prob. 139FECh. 4 - Prob. 140FECh. 4 - Prob. 141FECh. 4 - Prob. 142FECh. 4 - Prob. 143FECh. 4 - Prob. 144FECh. 4 - Prob. 145FECh. 4 - Prob. 146FECh. 4 - Prob. 147FECh. 4 - Prob. 148FECh. 4 - Prob. 149FECh. 4 - Prob. 150FECh. 4 - Prob. 151FECh. 4 - Prob. 152FECh. 4 - Prob. 153FE
Knowledge Booster
Similar questions
- Suppose that you are looking to acquire a foreign super car to match your newly bought mansion. The dealership agrees to your bargain where you pay a down payment of 500 thousand pesos. To pay off the car, you are to pay an annual payment of 100 thousand pesos at the end of every year for a span of 10 years. However, your payment begins after 5 years from the deposit. Determine the amount of the super car if the rate is 14% compounded annually. Show Complete Solution.arrow_forwardSuppose that the parents of a young child decide to make regular annual deposits into a savings account. The mother makes deposits of Php 10,000 while the father makes deposits of Php 20,000. The father’s first deposit is on the day of birth of the child, while the mother’s first deposit is when the child turns 8 months old. If the nominal interest rate is 3% compounded every 4 months and no further deposits are made beyond the child’s 16th birthday, what is the lump sum equivalent of the deposit account on the child’s 20th birthday? Draw the cash flow diagram. Express the lump sum in terms of functional symbol.arrow_forwardKim deposits her annual bonus into a savings account that pays 7% interest compounded annually. The size of her bonus increases by $3,000 each year, and the initial bonus amount is $10,000. Determine how much will be in the account immediately after the fifth deposit.arrow_forward
- To finance your car, you have decided to take a car Joan in the amount of $20,000 from your credit union. You will pay off this loan over 60 months. If the required monthly payment is $400, what is the effective annual interest rate on this car loan?arrow_forwardThe compound interest on a certain sum of money at 25% for 3 years is Php 47,656.25. Its simple interest at the same rate and for the same period is Php?arrow_forwardTaylor and Dakota took out a 30 year mortgage for $135,000 at the APR of 10.1%, compounded monthly. After they had made 13 years of the payments (156 payments) they decide to refinance the remaining loan balance for 20 years at the APR of 5.9%, compounded monthly. What will be the balance on their loan 8 years after the refinancearrow_forward
- Find the total amount after the investment period in semi-annual payments of 1000 pesos if the first payment is due at the end of 3 years and money is worth 6% interest compounded semi-annually? (Future Value of Simple Ordinary Annuity) P4,668.41 P6,468.41 P4,668.40 P6,468.40arrow_forwardFind the compound amount if Php 2,500 is invested at 8% compounded quarterly for 5 years and 6 months. Show your solution.arrow_forwardCharlie deposits P1,000 now, P3,000 four years from now, and P1,500 six years from now at an interest rate of 12% per year compounded semiannually, how much money will he have in his account 10 years from now? Answer: P11,634.50 Carlo Dalisay borrows P22,000 to buy a new phone at 2.9%, compounded monthly. How much will his monthly payment be if the loan is for 36 months? Answer: P638.82arrow_forward
- . Find the amount at the end of two years and seven months if Php 1,000 is invested at 8% cq using simple interest for any time less than a year interest period.arrow_forwardDetermine the accumulated amount that would be due at the end of 18 months for Php 15,000 borrowed at simple interest at a rate of 6% per annum.arrow_forwardIf the nominal interest rate is 5%, how much is P2,000 worth in 10 years in a continuously compounding account?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education