You expect to contribute to an investment fund for your retirement over the next 30 years with an annual deposit of a yet-to-be determined amount. Assume your goal is to have $2 million available when you stop the annual deposits and that the fund is able to return 10% per year every year.
(a) Determine if you will reach your goal for either of the following two deposit scenarios: (1) $12,000 each and every year; (2) $8000 at the end of next year for 15 years, followed by $15,000 deposits in each of years 16 through 30.
(b) Determine the exact number of years necessary to accumulate the $2 million if $12,000 is deposited each year until the goal is achieved.
(c) For a little more of a challenge, use only the FV function to determine the number of years necessary to attain the $2 million goal for the second deposit scenario, assuming the $15,000 is deposited annually until the goal is achieved.
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Find the weight of the steel baseplate shown in the accompanying figure. Steel weighs 490 pounds per cubic foot. Round the answer to the nearest pound.
A. 102 B. 103 C. 104 D. 105
A system is tested for faults once per hour. If there is no fault, none will be detected. If there is a fault, the probability is 0.8 that it will be detected. The tests are independent of one another.
a. If there is a fault, what is the probability that it will be detected in 3 hours or less? b. Given that a fault has gone undetected for 2 hours, what is the probability that it will be detected in the next hour? c. What is the mean number of tests that must be conducted in order to detect a fault?
The maximum pressure drop for a suction line should not exceed:
A) 3 psi. B) 2 psi. C) 1 psi. D) A corresponding saturation temperature drop of 2°F.
A refrigeration system that uses the evaporator of a higher-temperature system to cool the condenser of a lower-temperature refrigeration system is called a:
A) Transcritical system. B) Cascade system. C) Subordinate system. D) Supercritical system.