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ENGINEERING ECONOMY
Take-Home QUIZ#1
Due on March 3, 2016, until 5pm
Solve the following problems. (Show all your
calculations and draw the cash flow diagram)
1. A woman deposits an annual bonus into a
savings account that pays 6% interest
compounded monthly. The size of the
bonus increases by $1,000 each year, and
the initial bonus amount was $3,000.
Seven deposits were made. Determine
how much will be the amount five years
after her last deposit.
6.