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The council members want to know what the equivalent present cost is for the first 5 years of repair work if interest is 4%.
How much would need to be set aside now at 8% interest to pay the maintenance costs on the tractor for the first 6 years of ownership?
If she continues to make this series of investments for a total of 20 years, what will be the value of the investments at the end of that time?
A sports star can sign a 6-year contract that starts at $1.2M with increases of $0.3M each year for his expected playing. What is the value of each choice?
A college student is buying a new car, which costs $16,500 plus 8% sales tax. How much is the constant amount x? How much is the 48th payment?
What is the expected cost in Year 1 if the firm has projected that the machinery cost will increase by $15,000 per year? The interest rate is 10% per year.
Contributed by Hamed Kashani, Saeid Sadri, and Baabak Ashuri, Georgia Institute of Technology. What is the equivalent annual worth of the savings?
What is the annual equivalent of her deposits, and how much is on deposit after the 18th birthday? Contributed by Paul R. McCright, University of South Florida.
How big can Francisco's withdrawals be? Contributed by Paul R. McCright, University of South Florida.
How much must the student save each year if he deposits the $10,000 today and can earn 12% on both the $10,000.
How much per vehicle should the toll be to cover the cost of the toll booth replacement project? Interest is 10%.
The company makes no deposits during the subsequent 5 years. If the bank pays 8% interest, how much would be in the account at the end of 15 years?
He pays for the car in 30 equal monthly payments with interest at 12% per annum, compounded monthly. What is his monthly loan payment?
Compute how much extra income the garbage company could earn each year if it invests the money as described by the newspaper.
The Apex Company sold a water softener to Marty Smith. The price of the unit was $350. Which of these alternatives should Marty accept? Explain.
Assuming the senator's math is correct, how much will the foreign country have saved in interest when it repays the bonds at 41/2% instead of 51/4% at the end.
How much interest will Zenovia earn by leaving the money on deposit for two years? By how much does assuming continuous compounding change the answer?
Jack deposited $500,000 into a bank for 6 months. What was the effective annual interest rate? What was the nominal annual interest rate?
He wishes to select the savings institution that will give him the highest return on his money. What interest rate should he select?
A forklift truck costs $29,000. A company agrees to purchase. Which schedule should the company accept? What would be the size of the single payment?
The I've Been Moved Corporation receives a constant flow of funds from its worldwide operations. How much interest does IBM earn each month?
A friend offers to repay Bart $8000 in 41/2 years if Bart gives him $5000 now. What is the nominal annual interest rate of this offer?
If you deposit $10,000 with Bank South for one year, how much additional interest will you receive?
If you want a 12% rate of return, continuously compounded, on a project that will yield $6000 at end of 21/2 years, how much must you be willing to invest now?
A department store charges 13/4% interest per month, compounded continuously. What is the nominal annual interest rate? What is the effective interest rate?