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A person is planning to pay 600, 700 800,900 for 4 years for a loan. Find...
4:09 1 OK. 73% INDE232-HOMEWORK1 - Read-only Read Only - You can't save changes to this...
4:09 1 OK. 73% INDE232-HOMEWORK1 - Read-only Read Only - You can't save changes to this file. V INDE232 ENGINEERING ECONOMICS STUDY QUESTIONS- HOMEWORK 1 1. How much should be put in an investment with a 10% effective annual rate today to have $10,000 in five years? 2. A person wishes to have a future sum of 100,000 US Dollars for his son's education after 8 years from now. What is the single-payment that he should deposit now so that...
6. A bank gives a loan to a company to purchase an equipment worth 10,00,000 US...
6. A bank gives a loan to a company to purchase an equipment worth 10,00,000 US Dollars at an interest rate of 18% compounded annually. This amount should be repaid in 15 yearly equal installments. Find the installment amount that the company has to pay to the bank. 7. A person is planning for his retired life. He has 10 more years of service. He would like to deposit 20% of his salary, which is 4,000 US. Dollars at the...
6. A bank gives a loan to a company to purchase an equipment worth 10,00,000 US....
6. A bank gives a loan to a company to purchase an equipment worth 10,00,000 US. Dollars at an interest rate of 18% compounded annually. This amount should be repaid in 15 yearly equal installments. Find the installment amount that the company has to pay to the bank. 7. A person is planning for his retired life. He has 10 more years of service. He would like to deposit 20% of his salary, which is 4.000 US. Dollars at the...
1.An investment will pay you $500 every year starting 1 year from today and goes on...
1.An investment will pay you $500 every year starting 1 year from today and goes on forever. If the interest rate is 5% p.a., what is the maximum price that you would pay for this investment? 2.You are given $200 each year starting next year and finishing in 15 years (t=15). If the interest rate is 6% p.a., what is the maximum price that you would pay for these cash flows? 3.You borrow $100,000 today, the annual interest rate is...
Paul takes a loan of $225,000 from the bank at 7% interest rate per year over...
Paul takes a loan of $225,000 from the bank at 7% interest rate per year over a 10-year period. He plans to pay off the loan in 10 yearly payments of $16,000 each, and with the money that he is going to inherit from his grand parents. How much should he inherit to pay off the entire loan if the grand parents give him the money at the end of the 4th year and he hands over the entire amount...
A person has taken a loan for 30,000 dollars at 5% interest per year compounded daily....
A person has taken a loan for 30,000 dollars at 5% interest per year compounded daily. a) Make an equation showing how much the person pays per month & day. b) How much should the person pay per month to pay off the loan in 10, 20 and 30 years? How much interest does that person pay for 10, 20 and 30 years?
Julio is planning to save for his newborn daughter's college tuition, to be paid in 18...
Julio is planning to save for his newborn daughter's college tuition, to be paid in 18 years. The amount he wishes to have by that time is $65,000. He plans to deposit $2,500 in a bank account every year for 18 years, starting next year. Suppose the account pays 2% interest on deposits, compounded annually. How much would he need to deposit right now, to make up the remaining amount necessary by the end of 18 years?
Consider the situation where someone takes out a loan for $30,000 to pay for college. Assume...
Consider the situation where someone takes out a loan for $30,000 to pay for college. Assume the loan has an annual interest rate of 4% compounded monthly. Assume that person pays $400 a month to pay off the loan. (a) How long will it take for the person to pay off the loan? (b) If the person was only able to pay $150 a month, how long will it take to pay off the loan? (c) What is the minimum...
Without the use of excel: A borrows 20000 for 8 years and repays the loan with...
Without the use of excel: A borrows 20000 for 8 years and repays the loan with level annual payments at the end of each year. B also borrows 20000 for 8 years, but pays only interest as it is due each year and plans to repay the entire loan at the end of the 8 year period. Both loans carry an effective rate of 8.5%. How much more interest will B pay than A pays over the life of the...
An individual agrees to pay $6,000 per year for three years to payoff a car loan....
An individual agrees to pay $6,000 per year for three years to payoff a car loan. His payments are always made at the end of each year. If the interest rate in year 1 is 3%, in year 2 is 3.5% and in year 3 is 4%, and if compounding is done twice a year, how much did the car originally cost? (That is, work out the price he must have agreed to pay for the car.)
4:09 1 OK. 73% INDE232-HOMEWORK1 - Read-only Read Only - You can't save changes to this file. V INDE232 ENGINEERING ECONOMICS STUDY QUESTIONS- HOMEWORK 1 1. How much should be put in an investment with a 10% effective annual rate today to have $10,000 in five years? 2. A person wishes to have a future sum of 100,000 US Dollars for his son's education after 8 years from now. What is the single-payment that he should deposit now so that...
6. A bank gives a loan to a company to purchase an equipment worth 10,00,000 US Dollars at an interest rate of 18% compounded annually. This amount should be repaid in 15 yearly equal installments. Find the installment amount that the company has to pay to the bank. 7. A person is planning for his retired life. He has 10 more years of service. He would like to deposit 20% of his salary, which is 4,000 US. Dollars at the...
6. A bank gives a loan to a company to purchase an equipment worth 10,00,000 US. Dollars at an interest rate of 18% compounded annually. This amount should be repaid in 15 yearly equal installments. Find the installment amount that the company has to pay to the bank. 7. A person is planning for his retired life. He has 10 more years of service. He would like to deposit 20% of his salary, which is 4.000 US. Dollars at the...
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