A debt of $5000 can be repaid, with interest at 8%, by the following payments. Year Payment

Question:

A debt of $5000 can be repaid, with interest at 8%, by the following payments.

Year Payment

1 $ 500

2 1000

3 1500

4 2000

5 X

The payment at the end of the fifth year is shown as X. How much is X?

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

Step by Step Answer:

Related Book For book-img-for-question

Engineering Economics

ISBN: 9780195168075

9th Edition

Authors: Ted G. Feller

See More Books

Question Posted: Mar 01, 2010 04:10 AM

See More Questions

$850 borrowed on January 7 was repaid with interest at an annual rate of 7% on July 1 of the same calendar year. What was the amount of interest? Assume February has 28 days.
A debt can be repaid by payments of $4000 today, $4000 in five years, and $3000 in six years. What single payment would settle the debt one year from now if money is worth 7% compounded semi-annually?
A debt of $17 500 is repaid by payments of $2850 made at the end of each year. Interest is 8% compounded semi-annually. (a) How many payments are needed to repay the debt? (b) What is the cost of the...
A ball is dropped from a high rise platform at t = 0 starting from rest. After 6 seconds another ball is thrown downwards from the same platform with a speed v. The two balls meet at t = 18s. What is...
Solve the inequality. Then graph the solution set. 1. x2 6x 27 < 0 2. x2 2x ( 3 3. 5x3 45x < 0 4. 2x3 5x2 3x ( 0
Kitselman Limited is trying to determine the value of its ending inventory as of February 28, 2010, the companys year-end. The accountant counted everything that was in the warehouse, as of February...
The plaintiff worked in a maintenance department for the defendant, a railway company, as a forklift operator. She was the only female worker in that department, and her supervisor repeatedly told...
Winery Incorporated (WI) is a private corporation formed in 20X8. Prior to 20X8, WI had been operating as a partnership by the Verity family. Due to their success and desire to expand, they have made...
ing the Question 2 Solve the following problem with branch and bound algorithm: max z = 3x1 + x2 st: 2x1 - x2 6 x1 + x2 4 x1, x2 0, xinteger
Reba Dixon is a fifth-grade school teacher who earned a salary of $38,000 in 2020. She is 45 years old and has been divorced for four years. She receives $1,200 of alimony payments each month from...
A company expects to install smog control equipment on the exhaust of a gasoline engine. The local smog control district has agreed to pay to the firm a lump sum of money to provide for the first...
A man is purchasing a small garden tractor. There will be no maintenance cost during the first 2 years because the tractor is sold with 2 years free maintenance. For the third year, the maintenance...
In Exercises 1732, use the graph of y = f(x) to graph each function g. g(x) = -f(x) + 1 T 321 4,0) 5-4-3-2-1 3- y IIII] y = f(x) 8:00:07 11 (2,2) 2 (0, 0) (4,0) 2 3 4 5 (-2,-2) 3- [IIIII|IIIII X
Project A has a beta of 1 . 5 and an expected rate of rate of return of 1 7 . 2 % . Project B has a beta of 0 . 8 and an expected rate of return of 1 1 . 5 % . What is the risk - free rate?
Suppose you want your daughter's college fund to contain $100,000 after 17 years. If you can get an APR of 8.6%, compounded monthly, how much should you deposit at the end of each month? At age 20...
Let Y have a uniform distribution U(0, 1), and let W=a+(b-a)Y, (a) Find the cdf of W. - a
She budgeted $420,000 in software costs for the entire company, however in my prior conversations with her she had told me she thought they might be around $630,000 this year. What might have...
Someone argues that you shouldnt drink tap water because it contains hundreds of molecules of some impurity in each glass. How would you respond in defense of the waters purity, if it indeed does...
On January 1, 2017, McIlroy, Inc., acquired a 60 percent interest in the common stock of Stinson, Inc., for $340,200. Stinson's book value on that date consisted of common stock of $100,000 and...
The following site can be used to demonstrate how the features of an option affect the option's prices. Go to http://www.hoadley.net/options/bs.htm. Scroll down to the online options calculator. What...
Oil spills in the Gulf of Mexico have been known to cause extensive damage to both public and private oyster grounds along the Louisiana and Mississippi shores. One way to protect shellfish along the...
On-site granular ferric hydroxide (GFH) systems can be used to remove arsenic from water when daily flow rates are relatively low. If the operating cost is $600,000 per year and the public health...
The Parks and Recreation Department of Burkett County has estimated that the initial cost of a "bare-bones" permanent river park will be $2.3 million. Annual upkeep costs are estimated at $120,000....
Perpetual inventory using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as follows: July 1 Inventory 106 units @ $28 July 8 Sale 85 units July 15 Purchase 118 units @ $32 July 27...
Materials Costing for a Furniture Company Pull Up a Chair Company manufactures furniture. The company uses a job order cost system. Balances on August 1 from the materials ledger are as follows:...
You are a defense attorney, and your first big case is a multiple murder. You have come to the realization that your client really did break into a couple's home and torture and kill them in the...

A debt of $5000 can be repaid, with interest at 8%, by the following payments. Year Payment

Question:

Step by Step Answer:

The first four payments will repay a present su...View the full answer

Engineering Economics

Students also viewed these Economics questions