Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. stuck on this engineering econ probelm chapter 4

stuck on this engineering econ probelm Chapter 4 - The Time Value of...

80.2K

Verified Solution

Question

Accounting

image stuck on this engineering econ probelm
Chapter 4 - The Time Value of Money Engineering Economics (1) Save Homework: Chapter 4 - The Time Value of Money Score: 0 of 1 pt 17 of 20 (12 complete) Score: 60%, 12 of 20... Problem 4-99 (algorithmic) Question Help You deposit $1,000 at the end of the year (k = 0) into an account that pays interest at a rate of 6% compounded annually. A year after your deposit, the savings account interest rate changes to 12% nominal interest compounded monthly. Five years after your deposit, the savings account again changes its interest rate; this time the interest rate becomes 8% nominal interest compounded quarterly. Nine years after your deposit, the saving account changes its rate once more to 5% compounded annually. a. How much money should be in the savings account 18 years after the initial deposit, assuming no further changes in the account's interest rate? b. What interest rate, compounded annually, is equivalent to the interest pattern of the saving account in Part (a) over the entire 18 year period? a. 5 should be in the savings account 18 years after the initial deposit. (Round to the nearest dolar.) Enter your answer in the answer box and then click Check

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1. How is the digestion similar and different between a mammal, such as a pig, and...

Biology
Q

Do you think globalization increases or reduces global and domestic inequality? Defend your answer.

Psychology
Q

1. (a) According to Milton Friedman; "The Social Responsibility of Business is to increase its profits."...

General Management
Q

The following are option price quotations for The North West Company on July 27, 2019: The North...

Finance
Q

lichael Dukakis got the m electoral votes from wha ate in the 1988 presiden election...

Biology
Q

A is an offer which allows you to get some of the money you paid...

Basic Math
Q

6 Jessica s Salary is 3520 monthly Her employer pays 185 towards her RPP each...

Basic Math
Q

Problem 8 1 point 1 0 y 37 180 4 150 135 120 210 225...

Calculus
Q

Blossom Co. has prepared the following pension worksheet. Unfortunately, several entries in the worksheet are...

Accounting
Q

1/Janson Corporation Co.'s trial balance included the following account balances at December 31, 2018: ...

Accounting
Q

Net profit margin for 2009 unrestated & 2010 unrestated = net income before no controlling...

Accounting
Q

Ganado and Equity Risk Premiums. Maria Gonzalez, Ganado's Chief Financial Officer, estimates the risk-free rate...

Finance