Civil and Environmental Engineering Answers

If the nominal annual interest rate is 12% compounded quarterly, what is the effective annual interest rate?

One thousand dollars is borrowed for one year at an interest rate of 1% per month. If the same sum of money could be borrowed for the same period at an interest rate of 12% per year, how much could be saved in interest charges?

What sum of money now is equivalent to $8250 two years later, if interest is 4% per 6-month period?

A savings account earns 8% interest. If $1000 is invested, how many years is it until each of the following amounts is on deposit?
a. $1360
b. $2720
c. $4316
d. $6848

Situation 1
b) If $100 at Time “0” will be worth $110 a year later and was $90 a year ago, compute the interest rate for the past year and the interest rate next year.
c) Assume that $90 invested a year ago will return $110 a year from now. What is the annual interest rate in this situation?

How much must you invest now at 7.9% interest to accumulate $175,000 in 63 years?

Suppose that $2000 is deposited in an account that earns 6% interest. How much is in the account
a. after 5 years?
b. after 10 years?
c. after 20 years?
d. after 50 years?
e. after 100 years?

How long will it take an investment to double at 4% per year compounding annually?

Determine the exact simple interest on P5, 000 for the period from Jan.15 to Nov.28, 1992, if the rate of interest is 22%.

If you borrow money from your friend with simple interest of 12%, find the present worth of P20, 000, which is due at the end of nine months.