1. What equal series of payment must be put into a sinking fund to accumulate $62,000, in 10 years at 10% compounded annually when payments are annual?

2. What is the present value of the receipt of $1,500 a year for 16 years at 14% compounded annually?

3. What series of equal payments is necessary to repay $4,000 in 5 years at 16% compounded annually with annual payment?

4. What is the present value of the future receipts of $2,000, 5 years from now at 10% compounded annually?

5. A deposit of $10,000 now at 10% per year interest will accumulate to how much twenty years from now?

6. At an interest rate of 10% per year, annual deposits of $1,000 in years one through ten would accumulate to how much immediately after the last deposit?

7. What annual equal-payment series is necessary to repay a series of 7 end-of-year payments that begins at $7,000 and decreases at the rate of $700 a year with 12% interest compounded annually?

8. What equal annual amount must be deposited for 10 years in order to provide withdrawals of $300 at the end of second year, $600 at the end of third year, $900 at the end of fourth year, and so on, up to the tenth year? The interest rate is 10% compounded annually.

9. By doing annual updating of a certain production line, a manufacturing company can avoid spending $100,000 for a new system ten years from now. At an interest rate of 10% per year, the annual amount the company could afford to spend beginning one year from now is?

10. A short-haul trucking company purchased a used dump truck for $12,000. The company paid $5,000 down and financed the balance at an interest rate of 10% per year for five years. The amount of its annual payment is?

11. How much money will be in your retirement account if you invest $9000 per year for 35 years at an interest rate of 6% per year?

Engineering economy