How much money could the Kill-Kow Cattle Company afford to spend now for a new tractor trailer in lieu of spending $65,000 three years from now if the interest rate is 13% per year and inflation is 7% per year? (SHOW ALL WORK CLEARLY)
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- Maria has a bank loan for $23,500 to pay for her new truck. This loan is to be repaid in equal end month installments for seven years with a nominal interest rate of 12% compounded monthly. What is the amount of each payment? Find A44. What amount of money is equivalent to receiving $8000 three years from today, if the interest rate is 8% per year, compounded semiannually?What single payment at the end of year 5 is equivalent to an equal annual series of payment of $800 beginning at the end of year 3 and ending at the end of year 12? The interest rate is 10% compound annualy. Kindly answer this engineering economy problem above. Thank you
- a father wans to set aside for his 8-year-old daughter's future education, by making monthly deposits to a bank account that pays 9% per year, compounded annually. What equal monthly deposits must that father make-the first 1 month after her 9th birthday and the last on her 17th birthday-in order for her to withdraw $4000 on each of her next 6 birthdays? express your answer in whole number10. Mr. Jones is planning a 20-year retirement; he wants to withdraw $6000 at the end of the first year, and then to increase the withdrawals by $800 each year to offset inflation. How much money should he have in his savings account at the start of his retirement, if the bank pays 9% per year, compounded annually, on his savings?A factory operator bought a diesel generator set of 10,000 and agreed to pay the dealer uniform sum at the end of each year for 5 years at 8% interest compounded annually, that the final payment will cancel the dept for principal and interest. What is the annual payment?
- Mr. Smith plans to purchase a new $10 000 automobile. He wants to borrow all the money for the car, and repay it in equal monthly installments over a 4-year period. The nominal interest rate is 11% per year, compounded continuously. What will be Mr. Smith's monthly payment?After watching Small Laude’s vlogs, you decided that you want to pay for your dream car in cash. Not having enough money, you decided to borrow money from your friend, Pepito Manaloto. But being the shy person that you are, you decided to specifically put money away each year's “dream car” fund. The car you want to buy will cost $40,000in eight years. You are going to put aside $6,000 each year (for eight years) to save for this. At what interest rate must you invest your money to achieve your goal of having enough to purchase the car after eight years? a. 6.29% b. 4.71% c. 6.92% d. 4.17%A gasoline engine is available on installment basis with a down payment of 10,688 and 2,328 at the end of each month for one year. What is the cash price of the engine if interest is set at 9% compounded monthly if payments are done every beginning of the month?pls show the formula and complete solution :(
- Hi! If your credit card's APR is 24% compounded daily, what is the effective annual interest rate that you are paying? Is it APY=(1+ APR/C)^C - 1? Which gives me 27.11% Thanks.eng econ A man has deposited $50 000 in a retirement income plan with a local bank. This bank pays 8.75 % per year, compounded annually, on such deposits. What is the maximum amount the man can withdraw at the end of each year and still have the fundsl ast for 12 years?A company wants to expand its manufacturing plant in 4 years. The engineer estimates the expenditure required now to be $8 million, but in 4 years, the cost will be higher by an amount equal to the inflation rate of 7%. If the company sets aside $7 million now into an account that earns interest at "x"% per year, what will "x" have to be in order for the company to have exactly the right amount of money for the expansion? 21 PM to search 221
