Engineering Economics Essay Assignment Help

Engineering Economics Essay Assignment Help

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QUESTION 1 Due within 27 hours

You want to purchase a new company car for employees to visit clients. If you purchase the car for $60,000 with a loan that has an APR of 12% in which interest accrues monthly, what would you expect the monthly payments to be if the term of the loan is 5 years?

QUESTION 2

You purchase a new car for $45,000. You own that car for 15 years when you sell it for $25,000. If the cost of money increases 10% over that time, how much money did you make or lose on the car when looking at present cost?

QUESTION 3

When you were born, your grandparents put $5,000 in to a money market account to help with your college education. The bank gave them a guaranteed interest rate of 6% per year until you turned 18. How much money will be in the account on your 18th birthday if you never withdraw any money until that day?

QUESTION 4

Your company is eyeballing a new project in which they believe will cost $40,000 to start. They would like to spend this money and start the project 5 years from now. If they are able to invest money and recieve a 5% annual return, how much would they initially need to invest in order to start this project in 5 years?

QUESTION 5

You volunteer on a local fire department and are asked to help in the purchase of a new fire engine. You seek out a loan from a bank in which they state the annual interest on the loan would be 10%. However, the interest compounds once per quarter. What is the effective annual percentage rate (APR) if you select this loan?

QUESTION 6

You are interested in purchasing a new home for $200,000, but you need to save 20% of the price to get a convential loan. If you open a bank account with an APR of 9%, how much would you need to put in monthly in order to purchase the home in 5 years if intrest accrues monthly?

QUESTION 7

You want to purchase a new company car for employees to get around to see clients. The car you purchase ends up costing you $550 per month with interest compounding after each payment. If the loan has an APR of 7% and the length of the loan is 6 years, how much will you ultimately spend on the car?

QUESTION 8

Your company purchases a new building for $500,000. The upkeep and maintenance of the building ends up costing $10,000 annually. If your company intends to use the building for 20 years, how much will this building be in present money if interest is 5%?

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