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QZ 2-Ch4

The document is a quiz for the Engineering Economics course at the German Jordanian University, focusing on financial calculations related to mortgages, savings, and maintenance expenses. It includes multiple-choice questions regarding the impact of additional mortgage payments, savings comparisons between two individuals, and the equivalent uniform annual expense for bridge maintenance. The quiz is scheduled for July 1st, 2025, under the supervision of Prof. Safwan Altarazi.

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Yousef Riyad
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11 views2 pages

QZ 2-Ch4

The document is a quiz for the Engineering Economics course at the German Jordanian University, focusing on financial calculations related to mortgages, savings, and maintenance expenses. It includes multiple-choice questions regarding the impact of additional mortgage payments, savings comparisons between two individuals, and the equivalent uniform annual expense for bridge maintenance. The quiz is scheduled for July 1st, 2025, under the supervision of Prof. Safwan Altarazi.

Uploaded by

Yousef Riyad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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GERMAN JORDANIAN UNIVERSITY

SCHOOL OF TECHNOLOGICAL SCIENCES


INDUSTRIAL ENGINEERING DEPARTMENT

Engineering Economics-DS (IE353) – Summer Semester, 2024/2025


Prof. Safwan Altarazi
Quiz 2 (Ch#4), July 1st 2025
Q) Choose the most correct answer:

• Adding a small amount to your monthly home mortgage payment will shorten the life of your loan.
Adding 10JD per month to your 540 JD monthly mortgage payment will trim how many months from
a 30 year, 5% mortgage of 100000 JD?

a) 25 months b)19 months c)13 months d) 6 months

• You start saving 10000JD at age 46 and stop saving at retirement (age 65). The annual interest rate is
8%. Your brother starts saving 10000JD at year 36 and stops at making deposits after ten years. How
much more money your brother have than you at age 65?

a) 50500 JD
b) 176600 JD
c) 217600 JD
d) Your brother will not have more money than you.

• Maintenance expenses for a bridge on a local river are estimated to be 30,000 JD per year for the first
10 years, followed by two separate 80,000 JD expenditures in years 15 and 20. The expected life of
the bridge is 30 years. If i = 7% per year, then the equivalent uniform annual expense over entire 30-
years period is

a) 20721
b) 21110
c) 18900
d) None of the above
• You start saving 10000JD at age 46 and stop saving at retirement (age 65). The annual interest rate is
8%. Your brother starts saving 10000JD at year 36 and stops at making deposits after ten years. How
much more money your brother have than you at age 65?

e) 50500 JD
f) 176600 JD
g) 217600 JD
h) Your brother will not have more money than you.

• Adding a small amount to your monthly home mortgage payment will shorten the life of your loan.
Adding 10JD per month to your 540 JD monthly mortgage payment will trim how many months from
a 30 year, 5% mortgage of 100000 JD?

b) 25 months b)19 months c)13 months d) 6 months

• Maintenance expenses for a bridge on a local river are estimated to be 30,000 JD per year for the first
10 years, followed by two separate 80,000 JD expenditures in years 15 and 20. The expected life of
the bridge is 30 years. If i = 7% per year, then the equivalent uniform annual expense over entire 30-
years period is

a) 20721
b) 21110
c) 18900
d) None of the above (20982)

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