3424-M0DULE4

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Your Name: IET3424 – Engineering Economy Fall Semester 2016 Module Four Assignment Solve each of the following problems by yourself. You may not work with other students nor may you receive assistance from anyone else. If you have questions then send them to the instructor in an email. To receive full credit for each of the following problems you must show how you arrived at your solution. You must show the equation that you used, the numbers you substituted into that equation, and your final answer to two decimal places. All students must use the factors from the Factor Tables in the back of the textbook and you must show the factor value to the number of decimal places shown in the tables in the back of the textbook. Problem One : For an (nominal) interest rate of 6% per year, compounded monthly, determine the nominal rate per (a) 3 months, and (b) 3 years. Your Answer: a.) 1.50% b. ) 18.00% r = 6% per year compounded monthly m = 12 i = 6%/12 = 0.5% 3mos * 0.5% = 1.5% and 36mos *0.5%= 18% Problem Two: A nominal interest rate of 3% per year, compounded semiannually, is
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern