Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
Traffic at a certain intersection is 2000 cars per day. A consultant has told the city that traffic. How much traffic will be expected at the end of 2 years?
A man borrowed $500 from a bank on October 15th. He must repay the loan in 16 equal. If interest is computed at 1% per month, how much must he pay each month?
On January 1, Frank Jenson bought a used car for $7200 and agreed to pay for it as follows: 1/3 down payment. What is the amount of Frank's monthly payment?
What amount will be required to purchase, on an engineers's 40th birthday, an annuity to provide him with 30 equal semiannual payments of $1000 each.
A young engineer wishes to become a millionaire by the time he is 60 years old. How much money must the engineer set aside in this project each year?
Determine the present worth of the crane's repair costs over its 15-year life. The interest rate is 10%.
Determine the breakeven resale price 10 years from now of an apartment house that can be bought today for $449,000. Its annual net income is $54,000.
How much money can she withdraw in 20 equal payments beginning one year after her last deposit? Contributed by Paul R. McCright, University of South Florida.
How much money should Timothy and Tiffany deposit annually for 20 years in order to provide an income of $30,000 per year for the next 10 years?
How much must he set aside in his savings account for the 3-month summer to cover his rent for next year?
Over a career of 35 years, what is the present worth of the raise if the interest rate is 8%?
Over a career of 40 years, what is the present worth of the raise if the interest rate is 7%?
If the student earns 0.75% per month interest on the money she saves, how much money is the monthly savings?
The car's price is $16,500, the sales tax is 8%, and the title, license, and registration fee is $450. How much cash is paid when the car is purchased?
How much can the company afford to spend on this new technology?The company wants to recover its investment in 15 years.
If Tori's old car can be traded in for $3325, which is her down payment, what is the most expensive car she can purchase?
How long would it take to double your money if you invest it at 4% simple interest? At 4% compound interest?
How much can he spend on the computer now and still have enough to grow to the $12,000 he needs when he graduates?
We know that a certain piece of equipment will cost $150,000 in 5 years. How much must be deposited today using 10% interest to pay for it?
A man borrowed $750 from a bank. He agreed to repay the sum at the end of 3 years, together. How much will he owe the bank at the end of 3 years?
The firm will make no payments until the loan is due, when it will pay off the interest and principal in one lump sum. What is the total payment?
Contributed by Hamed Kashani, Saeid Sadri, and Baabak Ashuri, Georgia. How long will it take for an investment to double at 4% per year compounding annually?
Magdalen, Miriam, and Mary June were asked to consider two different cash flows. Can you offer an explanation of the choice made by each woman?
From your own life (either now or in a situation that might occur in your future), provide an example in which the time value of money would be important.
A company invested $450,000 ten years ago in a new technology that is now worth $1,000,000. What rate of interest company earn on a simple interest basis?