Contemporary Engineering Economics (6th Edition)
6th Edition
ISBN: 9780134105598
Author: Chan S. Park
Publisher: PEARSON
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Chapter 3, Problem 61P
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a) What is the future value of a series of payments of $6,000 each, at the end of 8 years, at 6%
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c) What equal-annual-payment series is required in order to repay a present value of $18,000 in five
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Your rich uncle has just given you a high school graduation present of $500,000. The present, however, is in the form of a 25-year bond with an annual interest rate of 2.6% compounded annually. The bond says that it will be worth $500,000 in 25 years. What is this gift worth at the present time? (Round your answer to the nearest cent.)$
If P25,000 is invested at 8% interest compounded quarterly, how many years will it take for this amount to accumulate to P45,000?
Chapter 3 Solutions
Contemporary Engineering Economics (6th Edition)
Ch. 3 - Prob. 1PCh. 3 - Prob. 2PCh. 3 - Prob. 3PCh. 3 - Prob. 4PCh. 3 - Prob. 5PCh. 3 - Prob. 6PCh. 3 - Prob. 7PCh. 3 - Prob. 8PCh. 3 - Prob. 9PCh. 3 - Prob. 10P
Ch. 3 - Prob. 11PCh. 3 - Prob. 12PCh. 3 - Prob. 13PCh. 3 - Prob. 14PCh. 3 - Prob. 15PCh. 3 - Prob. 16PCh. 3 - Prob. 17PCh. 3 - Prob. 18PCh. 3 - Prob. 19PCh. 3 - Prob. 20PCh. 3 - Prob. 21PCh. 3 - Prob. 22PCh. 3 - Prob. 23PCh. 3 - Prob. 24PCh. 3 - Prob. 25PCh. 3 - Prob. 26PCh. 3 - Prob. 27PCh. 3 - Prob. 28PCh. 3 - Prob. 29PCh. 3 - Prob. 30PCh. 3 - Prob. 31PCh. 3 - Prob. 32PCh. 3 - Prob. 33PCh. 3 - Prob. 34PCh. 3 - Prob. 35PCh. 3 - Prob. 36PCh. 3 - Prob. 37PCh. 3 - Prob. 38PCh. 3 - Prob. 39PCh. 3 - Prob. 40PCh. 3 - Prob. 41PCh. 3 - Prob. 42PCh. 3 - Prob. 43PCh. 3 - Prob. 44PCh. 3 - Prob. 45PCh. 3 - Prob. 46PCh. 3 - Prob. 47PCh. 3 - Prob. 48PCh. 3 - Prob. 49PCh. 3 - Prob. 50PCh. 3 - Prob. 51PCh. 3 - Prob. 52PCh. 3 - Prob. 53PCh. 3 - Prob. 54PCh. 3 - Prob. 55PCh. 3 - Prob. 56PCh. 3 - Prob. 57PCh. 3 - Prob. 58PCh. 3 - Prob. 59PCh. 3 - Prob. 60PCh. 3 - Prob. 61PCh. 3 - Prob. 62PCh. 3 - Prob. 63PCh. 3 - Prob. 64PCh. 3 - Prob. 65PCh. 3 - Prob. 66PCh. 3 - Prob. 67PCh. 3 - Prob. 68PCh. 3 - Prob. 69PCh. 3 - Prob. 70PCh. 3 - Prob. 71PCh. 3 - Prob. 72PCh. 3 - Prob. 1STCh. 3 - Prob. 2STCh. 3 - Prob. 3ST
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- Jon’s grandfather was planning to give him $11,000 in 14 years. Jon has convinced him to pay him $7,000 now, instead. If Jon invests this $7,000 at 6.5% compounded continuously how much money will he have in 14 years? a) What type of problem is this? Select an answer Future Value -Simple Interest Future Value - Compound Interest Future Value - Continuously Compounded Future Value - Ordinary Annuity Future Value - Annuity Due Present Value - Ordinary Annuity Present Value - Annuity Due b) How much will he have? (round to the nearest cent) $arrow_forwardA company borrowed $200,000 at an interest rate of 8% compounded annually over six years. The loan will be repaid in installments at the end of each year, according to the accompanying repayment schedule. What will be the size of the last payment (X) that will pay off the loan?arrow_forwardCalculate the future value (F) for the cash flows at the end of each year over a four-year period, using the interest rates indicated in the provided figure. 10% Compounded quarterly 6% Compounded monthly 0 $450 1 2 $150 F=? 3 Year $450arrow_forward
- An increasing annual uniform gradient series ends at the end of fifteenth year. What is the value of the gradient G that makes the gradient series equivalent to a uniform flow of payments of $1,000 per month for seven years at 12% compounded monthly?arrow_forwardYou were entitled to receive $5,000 at the end of six months for the rest of your life. If the interest rate is 10% compounded monthly, what is the present value of perpetuity?arrow_forwardIf you invest $4,000 at 3% interest compounded monthly, how long will it take you to reach $5,000 ?arrow_forward
- An individual makes six annual deposits of $2,000 in a savings account that pays interest at a rate of 4% compounded annually. Two years after making the last deposit, the interest rate changes to 7% compounded annually. Ten years after the last deposit the accumulated money is withdrawn from the account. How much is withdrawn?arrow_forwardthe desired accumulated amount is $70,000 after 14 years invested in an account with 2% interest compounded annuallyarrow_forwardA series of equal quarterly payments of $2,000 for 10 years is equivalent to what future lump-sum amount at the end of 20 years at an interest rate of 6% compounded continuously?arrow_forward
- What is the future worth of the following series of payments? a) $30,000 at the end of each six-month period for five years at 8% compounded semiannually. b) $50,000 at the end of each quarter for 10 years at 6% compounded quarterly. c) $13,000 at the end of each month for six years at 9% compounded monthly.arrow_forwardA series of equal quarterly payments of $6,000 for IO years is equivalent to what present amount at an interest rate of 12% compounded?arrow_forwardIf Phil borrows $25,000 from a loan company at an interest rate of 3.5% per year compounded weekly, and plans to make a payment of $850 per quarter, how may years will it take him to pay off the loan?If Phil borrows $25,000 from a loan company at an interest rate of 3.5% per year compounded weekly, and plans to make a payment of $850 per quarter, how may years will it take him to pay off the loan?arrow_forward
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