PLSC/EGTE 467

Homework # 2

2/15/02

Due – 2/22/02

CALIBRATION PROBLEMS

  1. How many acres are in a field measuring 325 feet x 750 feet?
  1. Calibration of a Broadcast Application

Sprayer has a 40 foot boom with 16 nozzles.

  1. What distance is needed to cover 1/10 of an acre.
  1. At 3.5 miles per hour, how many seconds are needed to cover the correct distance in the answer of 2a.
  1. Assume you collect 16 ounces from one nozzle, how many gallons per acre is the sprayer applying?
  1. The tank of this sprayer holds 600 gallons, how many acres can be sprayed with one tank load?
  1. You want to spray Bicep 1.8 quarts/acre. How many gallons of Bicep should you add to the 600 gallon tank?
  1. The farmer wants to broadcast 50 pounds of Nitrogen, 25 pounds of Phosphorus, and 100 pounds of Potassium per acre with blended dry or granular fertilizer materials. The materials available are:

Ammonium Nitrate – 33% nitrogen

Diammonium Phosphate – 18% nitrogen, 46% phosphorus

Triple Super Phosphate – 44 % phosphorus

Muriate of Potash – 60% potassium

Calculate the amount of each ingredient needed to meet the broadcast requirements for one acre. Calculate the total amount of mix to cover one acre.

Calculate the tonnage required to broadcast the same mix over 25 acres.

  1. The Co-Op’s spreader spins fertilizer in a 60 foot swath. You have placed 6 pans under the swath, each pan is 2 feet by 3 feet, or six square feet. How much fertilizer should be collected from all pans (assume distribution is equal) to spread the correct amount per acre calculated in Problem 3.

Interest Rate Calculations

  1. What are the monthly payments if you borrow $35,000 at 8% interest for five years? Please show your calculations.
  1. You are ready to purchase a John Deere 7610 tractor. The purchase price is $63,000 and you are putting $20,000 cash towards the purchase and can finance the balance at two options: (a) 8% interest at 5 years, or (b) 6% interest at 10 years. Semi-annual payments are required in each option.

(a)What are the semi-annual payments for each option?

(b)Which option is the most expensive over the life of the loan?

  1. You are borrowing $405,000 to purchase 175 acres of tillable ground. You and your family own free and clear 800 acres of tillable ground and you rent additional parcels of ground that total $1,200 acres for $80 per acre.

The banker has offered two alternative farm mortgage possibilities: 15 years at 9% with semi-annual payments; or 10 years at 9% with quarterly payments. Which proposal would you choose and why? Assume your farm generates the cash flow to meet either obligation. (Hint: calculate the total amount paid out during the life of the each proposal.) Please show your calculations.

After some negotiations, your banker has offered the following choices of terms: 15 years @ 7% with semi-annual payments, or 10 years at 9% with semi-annual payments. Which is the better deal for you?