EBK BASICS OF ENGINEERING ECONOMY
EBK BASICS OF ENGINEERING ECONOMY
2nd Edition
ISBN: 8220100255052
Author: Blank
Publisher: MCG
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Chapter 4, Problem 68APQ
To determine

Calculate the present value.

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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.
Are all the cash flows estimated in actual dollars?
The Aberdeen Fixed Rate Fund pays a dividend of 10% per year simple interest. If you invest $310,000 today, what total amount will you have accumulated at the end of 10 years?

Chapter 4 Solutions

EBK BASICS OF ENGINEERING ECONOMY

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