The amount of money a person must deposit 3 years from now in order to withdraw $10,000

Question:

The amount of money a person must deposit 3 years from now in order to withdraw $10,000 per year for 10 years beginning 15 years from now at an interest rate of 10% per year is closest to:
(a) $15,500
(b) $17,200
(c) $19,300
(d) $21,500

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

Step by Step Answer:

Related Book For book-img-for-question

Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

See More Books

Question Posted: Dec 17, 2012 05:38 AM

See More Questions

A bank offers a $25,000 loan at an interest rate of 7.7% that can be paid back over 2 to 10 years. a. Write the monthly payment formula for this loan situation. Let t represent the number of years...
A company borrowed $180,000 at an interest rate of 9% compounded annually over six years. The loan will be repaid in installments at the end of each year according to the accompanying repayment...
At an interest rate of 12%, the six-year discount factor is 507 How many dollars is $. 507 worth In six years if invested at 12%?
Determine whether each of these statements is true or false. a) x {x} b) {x} {x} c) {x} {x} d) {x} {{x}} e) {x} f) {x}
Show that (a) Where zn = Ï/2 + nÏ (n = 0, ±1, ±2, . . .); (b) Where zn = (Ï/2 + nÏ) i (n = 0, ±1, ±2, . . .); Res(z secz)(1)+z Res (tanh a) 1
What is contribution margin and why does it fluctuate in direct proportion with sales volume?
When should benchmarking be preferred to direct estimates of the magnitudes of benefits? When should direct estimates be preferred? Is it appropriate to use both?
1. The producers of branded drugs are responding to the introduction of generic competitors by _______and_______. 2. Ninja Turtles versus Tai Chi Frogs. The demand for fantasy amphibians is linear,...
A $1,000 par value bond that pays interest annually just paid $74 in interest. What is the coupon rate? Q2) A 05.00% coupon, 22-year annual bond is priced at $925. What is the current yield for this...
It was announced today that Florida, Inc., will acquire Menlo Park, Inc. Menlo Park has assets with a gross tax basis of $ 6 million and has $ 1.5 million of liabilities. Prior to being acquired,...
Multiple Choice Questions 1. A manufacturer of toilet flush valves wants to have $1,900,000 available 3 years from now so that a new product line can be initiated. If the company plans to deposit...
Cindy wants to deposit money for 4 consecutive years starting 3 years from now so she can withdraw $50,000 twelve years from now. Assume the interest rate is 8% per year. The annual deposit is...
The furnace cover has a mass of 20 kg and a radius of gyration k G = 0.25 m about its mass center G. If an operator applies a force F = 120 N to the handle in order to open the cover, determine the...
Explain why, if Max equalized the marginal utility per hour from windsurfing and from snorkeling, he would not maximize his utility.
Use the news clip in Problem 21. a. Would a cut in the tax on small business profits offset the effect of the higher minimum wage on employment? Explain. b. Would a cut in the Social Security tax...
Consider the substitutes model in which utility is U(H,z) and the production technology is H=f(x,q). Assume the baseline price of theprivate input x is p=$10 and that the baseline level of the...
a. What does the news clip imply about how the total utility from consumption changes over time? b. What does the news clip imply about how the marginal utility from consumption changes over time? At...
If Hawaii Cable is subject to a price cap regulation that enables it to break even, show in your graph the price, quantity, economic profit, consumer surplus, and deadweight loss. Hawaii Cable...
From your memory alone (dont look for the answer in the book), write the statement that tells the computer to display this string of text: Here is an example
In Exercises delete part of the domain so that the function that remains is one-to-one. Find the inverse function of the remaining function and give the domain of the inverse function. f(x) = 16x4 -3...
In the campaign to become the GOP candidate for president in 2012, Ron Paul suggested returning the U.S. economy to a gold standard. Do you agree with him? Are there any circumstances under which a...
Before committing to a 10-year lease, it was decided to consider one more alternative. Instead of simply augmenting the existing generator with a new 40-kW unit, this alternative calls for replacing...
Machine A was purchased last year for $18,000 and had an estimated MV of $2,000 at the end of its six-year life. Annual operating costs are $1,600. The machine will perform satisfactorily over the...
A company is considering replacing a machine that was bought six years ago for $60,000. The machine, however, can be repaired and its life extended by five more years. If the current machine is...
123 Anna purchased 100 shares of Delta stock on February 1, Year 2, for $46 per share, and 5 received a two-for-one stock split on December 31, Year 2. Anna sold all the shares of Delta stock on...
work i Saved QS 17-10 (Algo) Computing activity rates for activity-based costing LO P3 A company sells two types of products: standard and deluxe. It prepares the following analysis showing budgeted...
! Required information [The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It...

The amount of money a person must deposit 3 years from now in order to withdraw $10,000

Question:

Step by Step Answer:

P 14 10000PA 10 1...View the full answer

Engineering economy

Students also viewed these Economics questions