A man went to his bank and borrowed $750. He agreed to repay the sum at the

Question:

A man went to his bank and borrowed $750. He agreed to repay the sum at the end of 3 years, together with the interest at 8% per year. How much will he owe the bank at the end of 3 years? (Answer: $945)

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Engineering Economic Analysis

ISBN: 9780195168075

9th Edition

Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle

See More Books

Question Posted: May 24, 2016 06:54 AM

See More Questions

Joe Jones went to his bank to find out how long it will take for $1,000 to amount to $1,350 at 9 percent simple interest. Solve Joe's problem.
A man went to Atlantic City with $500 and placed 100 bets of $5 each, one after another, on the same number on the roulette wheel. There are 38 numbers on the wheel and the gaming casino pays 35...
A man went to Atlantic City with $500 and placed 100 bets of $5 each, one after another, on the same number on the roulette wheel. There are 38 numbers on the wheel and the gaming casino pays 35...
The pilot of a small boat charts a course such that the boat will always be equidistant from an upcoming rock and the shoreline. Describe the path of the boat. If the rock is 2 miles offshore, write...
Consider the issue of documenting a system using only electronic models developed with a full life-cycle development tool. The advantages are obvious (for example, the analyst modifies the models to...
Jeremy and Alyssa Johnson have been married for five years and do not have any children. Jeremy was married previously and has one child from the prior marriage. He is self-employed and operates his...
Give two arguments for and two arguments against partial-birth abortions.
Apex Trucking purchased a truck for $100,000 on January 1, 2011. The useful life of the truck was estimated to be either five years or 200,000 miles. Salvage value was estimated at $20,000. Over the...
Write an essay explain to whether the Iranian Revolution was a counter-Enlightenment in the Islamic World or a response to Western Imperialism.
Take an ideal monatomic gas (y =) around the Carnot cycle, where TH = 600 K and TL = 300 K. Point 1 at the beginning of the adiabatic compression has pressure P = Po (atmospheric pressure) and volume...
The following series of payments will repaya present sum of $5000 at an 8% interest rate. Using single payment factors, what present sum is equivalent to this series of payments at a 10%interest...
What sum of money now is equivalent to $8250 two years hence, if interest is 4% per 6-month period? (Answer: $7052)
Determine the product of inertia for the shaded area with respect to the x and y axes. y -2 in.--2 in.- 2 in. 1 in. 4 in.
Table of Interest Rates: Time Period Oyly Oy2y 0v3y lyly 2yly Consider the following bond: Exactly 3 years to maturity 9.7% coupon rate, paid annually $100 par value Bond is callable in exactly 1...
A 2-foot thick concrete (y-145 pcf) retaining wall is planned to be constructed as in the figure at right. The coefficient of base friction for the wall is 0.43. Question #1 (6 pts.): Determine the...
The three-time estimates (optimistic, most likely and pessimistic) for the duration of the individual activities which form a construction project are presented in Table 2.1 below. Activity A B C D E...
Andrew is then Manager of the A2Z Restaurant. He looked at the following figures and calculated the food cost % for the first six months of 2019: Express the Food cost as a % of sales for each month...
A rigid block of mass M is mounted on four elastic supports and the spring constant of each is k, as shown in the figure below. A small mass m drops from a height L and adheres to the rigid block...
An alkane (A) with the formula C 6 H 14 reacts with chlorine to yield three compounds with the formula C 6 H 13 Cl: B, C, and D. Of these only C and D undergo dehydrohalogenation with sodium ethoxide...
Havel says the grocer doesnt believe what is on the sign and indeed, he says the grocers customers will barely notice it. But Havel maintains that the sign serves a specific function. How would you...
The return on assets for Corwin Corporation is 7.6%. During the same year, Corwins return on common stockholders equity is 12.8%. What is the explanation for the difference in the two rates?
Which two ratios do you think should be of greatest interest in each of the following cases? (a) A pension fund considering the purchase of 20-year bonds. (b) A bank contemplating a short-term loan....
Which two ratios do you think should be of greatest interest in each of the following cases? (a) A pension fund considering the purchase of 20-year bonds. (b) A bank contemplating a short-term loan....
Consider the control system in Figure where v(t) is a sinusoidal disturbance, v(t)=sin(t). Compute the absolute value of the sensitivity function at w = 1 rad/s as a function of K. How must K be...
ABC Corporation, a growing tech company, decides to raise capital by issuing convertible debt securities. Convertible debt allows bondholders the option to convert their debt into a predetermined...
Design Analog and Digital IIR Bandstop filter considering pass band edge1 20kHz, stop band edges 22 kHz & 38kHz, pass band edge2 40kHz, sampling frequency 100kHz. Additionally, draw corresponding...

A man went to his bank and borrowed $750. He agreed to repay the sum at the

Question:

Step by Step Answer:

P 750 n 3 years i 8 F F ...View the full answer

Engineering Economic Analysis

Students also viewed these Accounting questions