ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Chapter 6, Problem 6P
To determine
To calculate: The amount to be invested by Mr. D to become a millionaire at the age of 60 years.
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If you had $1000 now and invested it at 4%, how much would it be worth 12 years from now?
Simple and Compound Interest
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Chapter 6 Solutions
ENGR.ECONOMIC ANALYSIS
Ch. 6 - Prob. 1QTCCh. 6 - Prob. 2QTCCh. 6 - Prob. 3QTCCh. 6 - Prob. 4QTCCh. 6 - Prob. 5QTCCh. 6 - Prob. 1PCh. 6 - Prob. 2PCh. 6 - Prob. 3PCh. 6 - Prob. 4PCh. 6 - Prob. 5P
Ch. 6 - Prob. 6PCh. 6 - Prob. 7PCh. 6 - Prob. 8PCh. 6 - Prob. 9PCh. 6 - Prob. 10PCh. 6 - Prob. 11PCh. 6 - Prob. 12PCh. 6 - Prob. 13PCh. 6 - Prob. 14PCh. 6 - Prob. 15PCh. 6 - Prob. 16PCh. 6 - Prob. 17PCh. 6 - Prob. 18PCh. 6 - Prob. 19PCh. 6 - Prob. 20PCh. 6 - Prob. 21PCh. 6 - Prob. 22PCh. 6 - Prob. 23PCh. 6 - Prob. 24PCh. 6 - Prob. 25PCh. 6 - Prob. 26PCh. 6 - Prob. 27PCh. 6 - Prob. 28PCh. 6 - Prob. 29PCh. 6 - Prob. 30PCh. 6 - Prob. 31PCh. 6 - Prob. 32PCh. 6 - Prob. 33PCh. 6 - Prob. 34PCh. 6 - Prob. 35PCh. 6 - Prob. 36PCh. 6 - Prob. 37PCh. 6 - Prob. 38PCh. 6 - Prob. 39PCh. 6 - Prob. 40PCh. 6 - Prob. 41PCh. 6 - Prob. 42PCh. 6 - Prob. 43PCh. 6 - Prob. 44PCh. 6 - Prob. 45PCh. 6 - Prob. 46PCh. 6 - Prob. 47PCh. 6 - Prob. 48PCh. 6 - Prob. 49PCh. 6 - Prob. 50PCh. 6 - Prob. 51PCh. 6 - Prob. 52PCh. 6 - Prob. 53PCh. 6 - Prob. 54PCh. 6 - Prob. 55PCh. 6 - Prob. 56PCh. 6 - Prob. 57PCh. 6 - Prob. 58PCh. 6 - Prob. 59PCh. 6 - Prob. 60PCh. 6 - Prob. 61PCh. 6 - Prob. 62PCh. 6 - Prob. 63PCh. 6 - Prob. 64PCh. 6 - Prob. 65PCh. 6 - Prob. 66PCh. 6 - Prob. 67PCh. 6 - Prob. 68PCh. 6 - Prob. 69PCh. 6 - Prob. 70PCh. 6 - Prob. 71PCh. 6 - Prob. 72PCh. 6 - Prob. 73PCh. 6 - Prob. 74PCh. 6 - Prob. 75PCh. 6 - Prob. 76PCh. 6 - Prob. 77P
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Similar questions
- How much should be put in an investment with a 10% effective annual rate today to have $10000 in five years?arrow_forwardThe profit that Johnny got from selling fish have increased at a constant rate of P1100 in each of the last 3 years. If this year’s profit (end of year 1) is expected to be P6000 and the profit trend continues through year 5, a.) Draw a cash flow diagramb.) what will the profit be at the end of year 5c.) what is the present worth of the profit at an interest rate of 8% per year?arrow_forwardThe amount of P150,000 was invested at 12% interest compounded quarterly 10yrs years ago. What is the amount earned now?arrow_forward
- If you borrow $500 at an interest rate of 4% per year for two years, how much interest will you have to pay?arrow_forwardIf 100,000 is deposited in the bank annually with a 12% per year interest rate. how long will the money become 1,000,000?arrow_forwardYVETTE AND AARON DEPOSITED A JOINT ACCOUNT AN AMOUNT OF P1000 AT BPI AT 5% INTEREST COMPOUNDED YEARLY. AFTER 8 YEARS, THE PRINCIPAL WAS WITHDRAWN, LEAVING THE INTEREST EARNED WHICH ACCRUED ANOTHER 8 YEARS AT THE BANKS. WHAT WILL BE THE AMOUNT THAT WILL BE WITHDRAWN ON THE 16TH YEAR?arrow_forward
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