IE343_HW2_Solutions

IE343_HW2_Solutions - Homework Assignment #2 Solutions...

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Homework Assignment #2 Solutions IE 343 – Homework Assignment #2 Solutions – Page 1 PURDUE UNIVERSITY Homework Assignment #2 IE 343: Engineering Economics Assigned: 3 Sept 2010 Fall 2010 Due: 10 Sept 2010 Instructor: A. Capponi Instructions for completing the homework assignment: Write your name, course number (IE 343), Section 1 or 2, and due date on the top of each page submitted for the assignment. Homework must be legible. Box, underline, or highlight your final answer. Homework must be submitted at the beginning of class on the due date. Late homework will not be accepted. All pages of the homework assignment must be stapled together. Failure to do any of the items listed above will result in a deduction of points from your final homework grade. Problem 1 (5 points) Textbook Problem 4-1 Total Interest = P*N*I = $10,000(4.25 years)(0.10/year) = $4,250 Problem 2 (10 points) Textbook Problem 4-10 Consumer Loan F = $5,000(F/P,12%,5) = $5,000(1.12) 5 = $5,000(1.7623) = $8,811.50
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IE343_HW2_Solutions - Homework Assignment #2 Solutions...

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