Suppose that $1,500 is placed in a bank account at the end of each quarter over the

Question:

Suppose that $1,500 is placed in a bank account at the end of each quarter over the next 20 years. What is the account’s future worth at the end of 20 years when the interest rate is 8% compounded
(a) Semiannually?
(b) Monthly?
(c) Continuously?

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

Step by Step Answer:

Related Book For book-img-for-question

Fundamentals of Engineering Economics

ISBN: 978-0132775427

3rd edition

Authors: Chan S. Park

See More Books

Question Posted: Nov 12, 2018 11:37 AM

See More Questions

Suppose that $4,000 is placed in a bank account at the end of each quarter over the next 10 years. What is the future worth at the end of 10 years when the interest rate is 9% compounded at the given...
Prepare a cash flow projection for a construction company that currently has two projects under contract for the next year and anticipates picking up a third and fourth project during the year. For...
If $1 had been placed in a bank account in the year 1066 and forgotten until now, how much would be in the account at the end of 2016 if the money earned 2% interest compounded annually? 2% simple...
If the firm's lowest average cost is $52 and the corresponding average variable cost is $26, what does it pay a perfectly competitive firm to do if? a. The market price is $51 b. The price is $36 c....
Suppose the force of 30.0 N pushes on two boxes of unknown mass. We know, however, that the acceleration of the boxes is 1.20 m/s2 and the contact force has a magnitude of 4.45 N. Find the mass of...
A finance company paid a furniture retailer $1050 for a conditional sale contract requiring 12 end-of-month payments of $100. What effective rate of return will the finance company realize on the...
The weight of milk powder in a "1 kg" package is normal(, 2 ) distribution (where it is known that the mean = 1015 g). Let a random sample of 10 packages be taken and weighed. The weights are (a)...
For SKU A3510 at the Hardware Warehouse, the order quantity has been set at 150 units each time an order is placed. The daily demand is normally distributed, with a mean of 12 units and a standard...
12. "New competition is not between what companies produce in their factories, but between what they add to their factory output in the form of packaging, services, advertising, customer advice,...
1. What changes in employment relationships are likely to occur as the population ages? 2. How can organizations cope with differences related to age discrimination in the workplace? How can older...
If the interest rate is 8.5% compounded continuously, what is the required quarterly payment to repay a loan of $15,000 in four years?
What is the future worth of an equalpayment series of $3,000 per year for eight years if the interest rate is 7% compounded continuously?
Wanda B. Rich is the CEO of Outlet Flooring, a discount provider of carpet, tile, wood, and laminate flooring. At the end of the year, the company's accountant provides Wanda with the following...
The Better Health Cereal Company produces Healthy Oats cereal. A sample of 15 boxes of this cereal indicates that the mean weight of a box of cereal is 24 oz with a standard deviation of 1 oz....
LEGO is everywheretoys, games, books, magazines, competitions, retail stores, theme parks, and now movies. If all of the approximately 400 billion colorful interlocking bricks ever produced by LEGO...
A sample of 100 steel-belted radial tires yields a mean life of 35,000 miles with a sample standard deviation of 4,000 miles. Construct a 90 % confidence interval for the mean life of steel-belted...
Since Uber officially launched online taxi reservation in San Francisco in October 2010, many ride-hailing companies have emerged in China, such as Didi Chuxing (hereafter Didi), Kuaidi, Yidao...
A poll is conducted to predict whether new municipal bonds should be issued. Assume that 230 out of 500 interviewees voted for issuance of the new bonds. How precise is this prediction? Construct a...
According to the EPA, uncontrolled disposal of pesticide residues and containers contributes significantly to groundwater contamination and hence threatens drinking water supplies. Design and...
Independent random samples of sizes n1 = 30 and n2 = 50 are taken from two normal populations having the means 1 = 78 and 2 = 75 and the variances 21 = 150 and 22 = 200. Use the results of Exercise...
Consider the following lease-versus-borrow-and-purchase problem. Borrow-and-purchase option: 1. Jensen Manufacturing Company plans to acquire sets of special industrial tools with a four-year life...
Tom Hagstrom has decided to acquire a new car for his business. One alternative is to purchase the car outright for $16,170 and to finance the car with a bank loan for the net purchase price. The...
The Boggs Machine Tool Company has decided to acquire a pressing machine. One alternative is to lease the machine under a three-year contract for a lease payment of $15,000 per year with payments to...
When the customers of Granite Rock expressed their desire for 24-hour availability of ground rock products from the quarry, the company responded by creating an ATM-like system and the Granite Xpress...
Snoopy drives a 1000-kg car moving at 10 m/s and brakes to a stop in 5.00 s. What would the average braking force have been?
Writing a Positioning Statement This exercise should be completed inyour own words and be based on what you know now, so select a brand that you are most familiar with. You can use class notes and...

Suppose that $1,500 is placed in a bank account at the end of each quarter over the

Question:

Step by Step Answer:

Given A 1000 N 80 quarter...View the full answer

Fundamentals of Engineering Economics

Students also viewed these Business questions