Swifty Corporation leased equipment to Windsor, Inc. on January 1, 2020. The lease agreement called for...

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Swifty Corporation leased equipment to Windsor, Inc. on January 1, 2020. The lease agreement called for annual rental payments of $1,193 at the beginning of each year of the 3-year lease. The equipment has an economic useful life of 7 years, a fair value of $9,200, a book value of $7,200, and Swifty expects a residual value of $6,700 at the end of the lease term. Swifty set the lease payments with the intent of earning a 5% return, though Windsor is unaware of the rate implicit in the lease and has an incremental borrowing rate of 7%. There is no bargain purchase option, ownership of the lease does not transfer at the end of the lease term, and the asset is not of a specialized nature. How would Swifty's accounting in part a change if it incurred legal fees of $500 to execute the lease documents and $600 in advertising expenses for the year in connection with the lease? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit TABLE 6.1 Periods 1 2345 678910 1 12 13 14 15 11 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Future Value of 1 (Future Value of a Single Sum) FVFni = (1 + i) 2% 1.02000 1.04040 1.06121 1.08243 1.10408 1.12616 1.14869 1.17166 1.19509 1.21899 1.24337 1.26824 1.29361 1.31948 1.34587 1.37279 1.40024 1.42825 1.45681 1.48595 1.51567 1.54598 1.57690 1.60844 1.64061 1.67342 1.70689 1.74102 1.77584 1.81136 1.84759 1.88454 1.92223 1.96068 1.99989 2.03989 2.08069 2.12230 2.16474 2.20804 2% 1.02500 1.05063 1.07689 1.10381 1.13141 1.15969 1.18869 1.21840 1.24886 1.28008 1.31209 1.34489 1.37851 1.41297 1.44830 1.48451 1.52162 1.55966 1.59865 1.63862 1.67958 1.72157 1.76461 1.80873 1.85394 1.90029 1.94780 1.99650 2.04641 2.09757 2.15001 2.20376 2.25885 2.31532 2.37321 2.43254 2.49335 2.55568 2.61957 2.68506 3% 1.03000 1.06090 1.09273 1.12551 1.15927 1.19405 1.22987 1.26677 1.30477 1.34392 1.38423 1.42576 1.46853 1.51259 1.55797 1.60471 1.65285 1.70243 1.75351 1.80611 1.86029 1.91610 1.97359 2.03279 2.09378 2.15659 2.22129 2.28793 2.35657 2.42726 2.50008 2.57508 2.65234 2.73191 2.81386 2.89828 2.98523 3.07478 3.16703 3.26204 4% 1.04000 1.08160 1.12486 1.16986 1.21665 1.26532 1.31593 1.36857 1.42331 1.48024 1.53945 1.60103 1.66507 1.73168 1.80094 1.87298 1.94790 2.02582 2.10685 2.19112 2.27877 2.36992 2.46472 2.56330 2.66584 2.77247 2.88337 2.99870 3.11865 3.24340 3.37313 3.50806 3.64838 3.79432 3.94609 4.10393 4.26809 4.43881 4.61637 4.80102 5% 1.05000 1.10250 1.15763 1.21551 1.27628 1.34010 1.40710 1.47746 1.55133 1.62889 1.71034 1.79586 1.88565 1.97993 2.07893 2.18287 2.29202 2.40662 2.52695 2.65330 2.78596 2.92526 3.07152 3.22510 3.38635 3.55567 3.73346 3.92013 4.11614 4.32194 4.53804 4.76494 5.00319 5.25335 5.51602 5.79182 6.08141 6.38548 6.70475 7.03999 6% 1.06000 1.12360 1.19102 1.26248 1.33823 1.41852 1.50363 1.59385 1.68948 1.79085 1.89830 2.01220 2.13293 2.26090 2.39656 2.54035 2.69277 2.85434 3.02560 3.20714 3.39956 3.60354 3.81975 4.04893 4.29187 4.54938 4.82235 5.11169 5.41839 5.74349 6.08810 6.45339 6.84059 7.25103 7.68609 8.14725 8.63609 9.15425 9.70351 10.28572 8% 1.08000 1.16640 1.25971 1.36049 1.46933 1.58687 1.71382 1.85093 1.99900 2.15892 2.33164 2.51817 2.71962 2.93719 3.17217 3.42594 3.70002 3.99602 4.31570 4.66096 5.03383 5.43654 5.87146 6.34118 6.84847 7.39635 7.98806 8.62711 9.31727 10.06266 10.86767 11.73708 12.67605 13.69013 14.78534 15.96817 17.24563 18.62528 20.11530 21.72452 9% 1.09000 1.18810 1.29503 1.41158 1.53862 1.67710 1.82804 1.99256 2.17189 2.36736 2.58043 2.81267 3.06581 3.34173 3.64248 3.97031 4.32763 4.71712 5.14166 5.60441 6.10881 6.65860 7.25787 7.91108 8.62308 9.39916 10.24508 11.16714 12.17218 13.26768 14.46177 15.76333 17.18203 18.72841 20.41397 22.25123 24.25384 26.43668 28.81598 31.40942 10% 1.10000 1.21000 1.33100 1.46410 1.61051 1.77156 1.94872 2.14359 2.35795 2.59374 2.85312 3.13843 3.45227 3.79750 4.17725 4.59497 5.05447 5.55992 6.11591 6.72750 7.40025 8.14028 8.95430 9.84973 10.83471 11.91818 13.10999 14.42099 15.86309 17.44940 19.19434 21.11378 23.22515 25.54767 28.10244 30.91268 34.00395 37.40434 41.14479 45.25926 11% 1.11000 1.23210 1.36763 1.51807 1.68506 1.87041 2.07616 2.30454 2.55803 2.83942 3.15176 3.49845 3.88328 4.31044 4.78459 5.31089 5.89509 6.54355 7.26334 8.06231 8.94917 9.93357 11.02627 12.23916 13.58546 15.07986 16.73865 18.57990 20.62369 22.89230 25.41045 28.20560 31.30821 34.75212 38.57485 42.81808 47.52807 52.75616 58.55934 65.00087 12% 1.12000 1.25440 1.40493 1.57352 1.76234 1.97382 2.21068 2.47596 2.77308 3.10585 3.47855 3.89598 4.36349 4.88711 5.47357 6.13039 6.86604 7.68997 8.61276 9.64629 10.80385 12.10031 13.55235 15.17863 17.00000 19.04007 21.32488 23.88387 26.74993 29.95992 33.55511 37.58173 42.09153 47.14252 52.79962 59.13557 66.23184 74.17966 83.08122 93.05097 TABLE 6.1 Future Value of 1 15% 1.15000 1.32250 1.52088 1.74901 2.01136 2.31306 2.66002 3.05902 3.51788 4.04556 4.65239 5.35025 6.15279 7.07571 8.13706 9.35762 10.76126 12.37545 14.23177 16.36654 18.82152 21.64475 24.89146 28.62518 32.91895 37.85680 43.53532 50.06561 57.57545 66.21177 76.14354 87.56507 100.69983 115.80480 133.17552 153.15185 176.12463 202.54332 232.92482 267.86355 (n) Periods 1 2 3 4 5 67890 10 112131415 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 TABLE 6.2 Present Value of 1 (Present Value of a Single Sum) 1 (1 + i)-" (1 + i)" (n) Periods 1234 L 5 67899 10 1 12 13 14 15 11 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 2% .98039 .96117 .94232 .92385 .90573 .88797 .87056 .85349 .83676 .82035 .80426 .78849 .77303 .75788 .74301 .72845 .71416 .70016 .68643 .67297 .65978 .64684 .63416 .62172 .60953 .59758 .58586 .57437 .56311 .55207 .54125 .53063 .52023 .51003 50003 .49022 .48061 .47119 .46195 .45289 PVFn,i = 2% .97561 .95181 .92860 .90595 .88385 .86230 .84127 .82075 .80073 .78120 .76214 .74356 .72542 .70773 .69047 .67362 .65720 .64117 .62553 .61027 .59539 .58086 .56670 .55288 .53939 .52623 .51340 .50088 .48866 .47674 .46511 .45377 .44270 .43191 .42137 .41109 .40107 .39128 .38174 .37243 3% .97087 .94260 .91514 .88849 .86261 .83748 .81309 .78941 .76642 .74409 .72242 .70138 .68095 .66112 .64186 .62317 .60502 .58739 .57029 .55368 .53755 .52189 .50669 49193 .47761 .46369 .45019 .43708 .42435 .41199 .39999 .38834 37703 .36604 .35538 .34503 .33498 .32523 .31575 .30656 4% .96154 .92456 .88900 .85480 .82193 .79031 .75992 .73069 .70259 .67556 .64958 .62460 .60057 .57748 .55526 .53391 .51337 .49363 .47464 .45639 43883 .42196 .40573 .39012 .37512 .36069 .34682 .33348 .32065 .30832 .29646 .28506 .27409 .26355 .25342 .24367 .23430 .22529 .21662 .20829 5% .95238 .90703 .86384 .82270 .78353 .74622 .71068 .67684 .64461 .61391 .58468 .55684 .53032 .50507 .48102 .45811 .43630 41552 .39573 .37689 .35894 .34185 .32557 .31007 .29530 .28124 .26785 .25509 .24295 .23138 .22036 .20987 .19987 .19035 .18129 .17266 .16444 .15661 .14915 .14205 6% .94340 .89000 .83962 .79209 .74726 .70496 .66506 .62741 .59190 .55839 .52679 .49697 .46884 .44230 .41727 .39365 .37136 .35034 .33051 .31180 .29416 .27751 .26180 .24698 .23300 .21981 .20737 .19563 .18456 .17411 .16425 .15496 .14619 .13791 .13011 .12274 .11579 .10924 .10306 .09722 8% .92593 .85734 .79383 .73503 .68058 .63017 .58349 .54027 .50025 .46319 .42888 .39711 .36770 .34046 .31524 .29189 .27027 .25025 .23171 .21455 .19866 .18394 .17032 .15770 .14602 .13520 .12519 .11591 .10733 .09938 .09202 .08520 .07889 .07305 .06763 .06262 .05799 .05369 .04971 .04603 9% .91743 .84168 .77218 .70843 .64993 59627 .54703 .50187 .46043 .42241 .38753 .35554 .32618 .29925 .27454 .25187 .23107 .21199 .19449 .17843 .16370 .15018 .13778 .12641 .11597 .10639 .09761 .08955 .08216 .07537 .06915 .06344 .05820 .05340 .04899 .04494 .04123 .03783 .03470 .03184 10% .90909 .82645 .75132 .68301 .62092 .56447 .51316 .46651 .42410 .38554 .35049 .31863 .28966 .26333 .23939 .21763 .19785 .17986 .16351 .14864 .13513 .12285 .11168 .10153 .09230 .08391 .07628 .06934 .06304 .05731 .05210 .04736 .04306 .03914 .03558 .03235 .02941 .02674 .02430 .02210 11% .90090 .81162 .73119 .65873 .59345 .53464 .48166 43393 .39092 .35218 .31728 .28584 .25751 .23199 .20900 .18829 .16963 .15282 .13768 .12403 .11174 .10067 .09069 .08170 .07361 .06631 .05974 .05382 .04849 .04368 .03935 .03545 .03194 .02878 .02592 .02335 .02104 .01896 .01708 .01538 12% .89286 .79719 .71178 .63552 .56743 .50663 .45235 .40388 .36061 .32197 .28748 .25668 .22917 .20462 .18270 .16312 .14564 .13004 .11611 .10367 .09256 .08264 .07379 .06588 .05882 .05252 .04689 .04187 .03738 .03338 .02980 .02661 .02376 .02121 .01894 .01691 .01510 .01348 .01204 .01075 TABLE 6.2 Present Value of 1 15% .86957 .75614 .65752 .57175 .49718 .43233 .37594 .32690 .28426 .24719 .21494 .18691 .16253 .14133 .12289 .10687 .09293 .08081 .07027 .06110 .05313 .04620 .04017 .03493 .03038 .02642 .02297 .01997 .01737 01510 .01313 .01142 .00993 .00864 .00751 .00653 .00568 .00494 .00429 .00373 (n) Periods 12345 678910 1 12 13 14 15 11 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 TABLE 6.3 (n) Periods 1 2345 67890 10 11 1 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 38 37 38 39 40 36 Future Value of an Ordinary Annuity of 1 2% 1.00000 2.02000 3.06040 4.12161 5.20404 6.30812 7.43428 8.58297 9.75463 10.94972 12.16872 13.41209 14.68033 15.97394 17.29342 18.63929 20.01207 21.41231 22.84056 24.29737 25.78332 27.29898 28.84496 30.42186 32.03030 33.67091 35.34432 37.05121 38.79223 40.56808 42.37944 44.22703 46.11157 48.03380 49.99448 51.99437 54.03425 56.11494 58.23724 60.40198 2% 1.00000 2.02500 3.07563 4.15252 5.25633 6.38774 7.54743 8.73612 9.95452 11.20338 12.48347 13.79555 15.14044 16.51895 17.93193 19.38022 20.86473 22.38635 23.94601 25.54466 27.18327 28.86286 30.58443 32.34904 34.15776 36.01171 37.91200 39.85980 41.85630 43.90270 46.00027 48.15028 50.35403 52.61289 54.92821 57.30141 59.73395 62.22730 64.78298 67.40255 FVF-OAn,i = (1 + i) 1 i 3% 1.00000 2.03000 3.09090 4.18363 5.30914 6.46841 7.66246 8.89234 10.15911 11.46338 12.80780 14.19203 15.61779 17.08632 18.59891 20.15688 21.76159 23.41444 25.11687 26.87037 28.67649 30.53678 32.45288 34.42647 36.45926 38.55304 40.70963 42.93092 45.21885 47.57542 50.00268 52.50276 55.07784 57.73018 60.46208 63.27594 66.17422 69.15945 72.23423 75.40126 - 4% 1.00000 2.04000 3.12160 4.24646 5.41632 6.63298 7.89829 9.21423 10.58280 12.00611 13.48635 15.02581 16.62684 18.29191 20.02359 21.82453 23.69751 25.64541 27.67123 29.77808 31.96920 34.24797 36.61789 39.08260 41.64591 44.31174 47.08421 49.96758 52.96629 56.08494 59.32834 62.70147 66.20953 69.85791 73.65222 77.59831 81.70225 85.97034 90.40915 95.02552 5% 1.00000 2.05000 3.15250 4.31013 5.52563 6.80191 8.14201 9.54911 11.02656 12.57789 14.20679 15.91713 17.71298 19.59863 21.57856 23.65749 25.84037 28.13238 30.53900 33.06595 35.71925 38.50521 41.43048 44.50200 47.72710 51.11345 54.66913 58.40258 62.32271 66.43885 70.76079 75.29883 80.06377 85.06696 90.32031 95.83632 101.62814 107.70955 114.09502 120.79977 6% 1.00000 2.06000 3.18360 4.37462 5.63709 6.97532 8.39384 9.89747 11.49132 13.18079 14.97164 16.86994 18.88214 21.01507 23.27597 25.67253 28.21288 30.90565 33.75999 36.78559 39.99273 43.39229 46.99583 50.81558 54.86451 59.15638 63.70577 68.52811 73.63980 79.05819 84.80168 90.88978 97.34316 104.18376 111.43478 119.12087 127.26812 135.90421 145.05846 154.76197 8% 1.00000 2.08000 3.24640 4.50611 5.86660 7.33592 8.92280 10.63663 12.48756 14.48656 16.64549 18.97713 21.49530 24.21492 27.15211 30.32428 33.75023 37.45024 41.44626 45.76196 50.42292 55.45676 60.89330 66.76476 73.10594 79.95442 87.35077 95.33883 103.96594 113.28321 123.34587 134.21354 145.95062 158.62667 172.31680 187.10215 203.07032 220.31595 238.94122 259.05652 9% 1.00000 2.09000 3.27810 4.57313 5.98471 7.52334 9.20044 11.02847 13.02104 15.19293 17.56029 20.14072 22.95339 26.01919 29.36092 33.00340 36.97371 41.30134 46.01846 51.16012 56.76453 62.87334 69.53194 76.78981 84.70090 93.32398 102.72314 112.96822 124.13536 136.30754 149.57522 164.03699 179.80032 196.98234 215.71076 236.12472 258.37595 282.62978 309.06646 337.88245 10% 1.00000 2.10000 3.31000 4.64100 6.10510 7.71561 9.48717 11.43589 13.57948 15.93743 18.53117 21.38428 24.52271 27.97498 31.77248 35.94973 40.54470 45.59917 51.15909 57.27500 64.00250 71.40275 79.54302 88.49733 98.34706 109.18177 121.09994 134.20994 148.63093 164.49402 181.94343 201.13777 222.25154 245.47670 271.02437 299.12681 330.03949 364.04343 401.44778 442.59256 TABLE 6.3 11% 1.00000 2.11000 3.34210 4.70973 6.22780 7.91286 9.78327 11.85943 14.16397 16.72201 19.56143 22.71319 26.21164 30.09492 34.40536 39.18995 44.50084 50.39593 56.93949 64.20283 72.26514 81.21431 91.14788 102.17415 114.41331 127.99877 143.07864 159.81729 178.39719 199.02088 221.91317 247.32362 275.52922 306.83744 341.58955 380.16441 422.98249 470.51056 523.26673 581.82607 Future Value of an Ordinary Annuity of 1 12% 1.00000 2.12000 3.37440 4.77933 6.35285 8.11519 10.08901 12.29969 14.77566 17.54874 20.65458 24.13313 28.02911 32.39260 37.27972 42.75328 48.88367 55.74972 63.43968 72.05244 81.69874 92.50258 104.60289 118.15524 133.33387 150.33393 169.37401 190.69889 214.58275 241.33268 271.29261 304.84772 342.42945 384.52098 431.66350 484.46312 543.59869 609.83053 684.01020 767.09142 15% 1.00000 2.15000 3.47250 4.99338 6.74238 8.75374 11.06680 13.72682 16.78584 20.30372 24.34928 29.00167 34.35192 40.50471 47.58041 55.71747 65.07509 75.83636 88.21181 102.44358 118.81012 137.63164 159.27638 184.16784 212.79302 245.71197 283.56877 327.10408 377.16969 434.74515 500.95692 577.10046 644.66553 765.36535 881.17016 1014.34568 1167.49753 1343.62216 1546.16549 1779.09031 (n) Periods 12345 678910 1 12 13 14 15 11 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 TABLE 6.4 Present Value of an Ordinary Annuity of 1 Periods GAWN 1 2 3 4 5 67890 10 11 1 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 2% .98039 1.94156 2.88388 3.80773 4.71346 5.60143 6.47199 7.32548 8.16224 8.98259 9.78685 10.57534 11.34837 12.10625 12.84926 13.57771 14.29187 14.99203 15.67846 16.35143 17.01121 17.65805 18.29220 18.91393 19.52346 20.12104 20.70690 21.28127 21.84438 22.39646 22.93770 23.46833 23.98856 24.49859 24.99862 25.48884 25.96945 26.44064 26.90259 27.35548 PVF-OAn,i = 2% .97561 1.92742 2.85602 3.76197 4.64583 5.50813 6.34939 7.17014 7.97087 8.75206 9.51421 10.25776 10.98319 11.69091 12.38138 13.05500 13.71220 14.35336 14.97889 15.58916 16.18455 16.76541 17.33211 17.88499 18.42438 18.95061 19.46401 19.96489 20.45355 20.93029 21.39541 21.84918 22.29188 22.72379 23.14516 23.55625 23.95732 24.34860 24.73034 25.10278 1 3% .97087 1.91347 2.82861 3.71710 4.57971 5.41719 6.23028 7.01969 7.78611 8.53020 9.25262 9.95400 10.63496 11.29607 11.93794 12.56110 13.16612 13.75351 14.32380 14.87747 15.41502 15.93692 16.44361 16.93554 17.41315 17.87684 18.32703 18.76411 19.18845 19.60044 20.00043 20.38877 20.76579 21.13184 21.48722 21.83225 22.16724 22.49246 22.80822 23.11477 1 (1 + ) j 4% .96154 1.88609 2.77509 3.62990 4.45182 5.24214 6.00205 6.73274 7.43533 8.11090 8.76048 9.38507 9.98565 10.56312 11.11839 11.65230 12.16567 12.65930 13.13394 13.59033 14.02916 14.45112 14.85684 15.24696 15.62208 15.98277 16.32959 16.66306 16.98371 17.29203 17.58849 17.87355 18.14765 18.41120 18.66461 18.90828 19.14258 19.36786 19.58448 19.79277 5% .95238 1.85941 2.72325 3.54595 4.32948 5.07569 5.78637 6.46321 7.10782 7.72173 8.30641 8.86325 9.39357 9.89864 10.37966 10.83777 11.27407 11.68959 12.08532 12.46221 12.82115 13.16300 13.48857 13.79864 14.09394 14.37519 14.64303 14.89813 15.14107 15.37245 15.59281 15.80268 16.00255 16.19290 16.37419 16.54685 16.71129 16.86789 17.01704 17.15909 6% .94340 1.83339 2.67301 3.46511 4.21236 4.91732 5.58238 6.20979 6.80169 7.36009 7.88687 8.38384 8.85268 9.29498 9.71225 10.10590 10.47726 10.82760 11.15812 11.46992 11.76408 12.04158 12.30338 12.55036 12.78336 13.00317 13.21053 13.40616 13.59072 13.76483 13.92909 14.08404 14.23023 14.36814 14.49825 14.62099 14.73678 14.84602 14.94907 15.04630 8% .92593 1.78326 2.57710 3.31213 3.99271 4.62288 5.20637 5.74664 6.24689 6.71008 7.13896 7.53608 7.90378 8.24424 8.55948 8.85137 9.12164 9.37189 9.60360 9.81815 10.01680 10.20074 10.37106 10.52876 10.67478 10.80998 10.93516 11.05108 11.15841 11.25778 11.34980 11.43500 11.51389 11.58693 11.65457 11.71719 11.77518 11.82887 11.87858 11.92461 9% .91743 1.75911 2.53130 3.23972 3.88965 4.48592 5.03295 5.53482 5.99525 6.41766 6.80519 7.16073 7.48690 7.78615 8.06069 8.31256 8.54363 8.75563 8.95012 9.12855 9.29224 9.44243 9.58021 9.70661 9.82258 9.92897 10.02658 10.11613 10.19828 10.27365 10.34280 10.40624 10.46444 10.51784 10.56682 10.61176 10.65299 10.69082 10.72552 10.75736 10% .90909 1.73554 2.48685 3.16986 3.79079 4.35526 4.86842 5.33493 5.75902 6.14457 6.49506 6.81369 7.10336 7.36669 7.60608 7.82371 8.02155 8.20141 8.36492 8.51356 8.64869 8.77154 8.88322 8.98474 9.07704 9.16095 9.23722 9.30657 9.36961 9.42691 9.47901 9.52638 9.56943 9.60858 9.64416 9.67651 9.70592 9.73265 9.75697 9.77905 TABLE 6.4 Present Value of an Ordinary Annuity of 1 11% .90090 1.71252 2.44371 3.10245 3.69590 4.23054 4.71220 5.14612 5.53705 5.88923 6.20652 6.49236 6.74987 6.98187 7.19087 7.37916 7.54879 7.70162 7.83929 7.96333 8.07507 8.17574 8.26643 8.34814 8.42174 8.48806 8.54780 8.60162 8.65011 8.69379 8.73315 8.76860 8.80054 8.82932 8.85524 8.87859 8.89963 8.91859 8.93567 8.95105 12% .89286 1.69005 2.40183 3.03735 3.60478 4.11141 4.56376 4.96764 5.32825 5.65022 5.93770 6.19437 6.42355 6.62817 6.81086 6.97399 7.11963 7.24967 7.36578 7.46944 7.56200 7.64465 7.71843 7.78432 7.84314 7.89566 7.94255 7.98442 8.02181 8.05518 8.08499 8.11159 8.13535 8.15656 8.17550 8.19241 8.20751 8.22099 8.23303 8.24378 15% .86957 1.62571 2.28323 2.85498 3.35216 3.78448 4.16042 4.48732 4.77158 5.01877 5.23371 5.42062 5.58315 5.72448 5.84737 5.95424 6.04716 6.12797 6.19823 6.25933 6.31246 6.35866 6.39884 6.43377 6.46415 6.49056 6.51353 6.53351 6.55088 6.56598 6.57911 6.59053 6.60046 6.60910 6.61661 6.62314 6.62882 6.63375 6.63805 6.64178 Periods 12345 678910 1 12 13 14 15 11 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 TABLE 6.5 Present Value of an Annuity Due of 1 (n) Periods GAWN 2 3 4 5 67890 10 11 1 12 1314 15 16 17 18 19 20 ZNANA 2N828 21 22 23 24 25 26 27 29 30 31 32 33 34 35 36 37 38 39 40 2% 1.00000 1.98039 2.94156 3.88388 4.80773 5.71346 6.60143 7.47199 8.32548 9.16224 9.98259 10.78685 11.57534 12.34837 13.10625 13.84926 14.57771 15.29187 15.99203 16.67846 17.35143 18.01121 18.65805 19.29220 19.91393 20.52346 21.12104 21.70690 22.28127 22.84438 23.39646 23.93770 24.46833 24.98856 25.49859 25.99862 26.48884 26.96945 27.44064 27.90259 PVF-ADn,i 2% 1.00000 1.97561 2.92742 3.85602 4.76197 5.64583 6.50813 7.34939 8.17014 8.97087 9.75206 10.51421 11.25776 11.98319 12.69091 13.38138 14.05500 14.71220 15.35336 15.97889 16.58916 17.18455 17.76541 18.33211 18.88499 19.42438 19.95061 20.46401 20.96489 21.45355 21.93029 22.39541 22.84918 23.29188 23.72379 24.14516 24.55625 24.95732 25.34860 25.73034 = 1 + 1 3% 1.00000 1.97087 2.91347 3.82861 4.71710 5.57971 6.41719 7.23028 8.01969 8.78611 9.53020 10.25262 10.95400 11.63496 12.29607 12.93794 13.56110 14.16612 14.75351 15.32380 15.87747 16.41502 16.93692 17.44361 17.93554 18.41315 18.87684 19.32703 19.76411 20.18845 20.60044 21.00043 21.38877 21.76579 22.13184 22.48722 22.83225 23.16724 23.49246 23.80822 1 (1 + i)' j 17-1 4% 1.00000 1.96154 2.88609 3.77509 4.62990 5.45182 6.24214 7.00205 7.73274 8.43533 9.11090 9.76048 10.38507 10.98565 11.56312 12.11839 12.65230 13.16567 13.65930 14.13394 14.59033 15.02916 15.45112 15.85684 16.24696 16.62208 16.98277 17.32959 17.66306 17.98371 18.29203 18.58849 18.87355 19.14765 19.41120 19.66461 19.90828 20.14258 20.36786 20.58448 5% 1.00000 1.95238 2.85941 3.72325 4.54595 5.32948 6.07569 6.78637 7.46321 8.10782 8.72173 9.30641 9.86325 10.39357 10.89864 11.37966 11.83777 12.27407 12.68959 13.08532 13.46221 13.82115 14.16300 14.48857 14.79864 15.09394 15.37519 15.64303 15.89813 16.14107 16.37245 16.59281 16.80268 17.00255 17.19290 17.37419 17.54685 17.71129 17.86789 18.01704 6% 1.00000 1.94340 2.83339 3.67301 4.46511 5.21236 5.91732 6.58238 7.20979 7.80169 8.36009 8.88687 9.38384 9.85268 10.29498 10.71225 11.10590 11.47726 11.82760 12.15812 12.46992 12.76408 13.04158 13.30338 13.55036 13.78336 14.00317 14.21053 14.40616 14.59072 14.76483 14.92909 15.08404 15.23023 15.36814 15.49825 15.62099 15.73678 15.84602 15.94907 8% 1.00000 1.92593 2.78326 3.57710 4.31213 4.99271 5.62288 6.20637 6.74664 7.24689 7.71008 8.13896 8.53608 8.90378 9.24424 9.55948 9.85137 10.12164 10.37189 10.60360 10.81815 11.01680 11.20074 11.37106. 11.52876 11.67478 11.80998 11.93518 12.05108 12.15841 12.25778 12.34980 12.43500 12.51389 12.58693 12.65457 12.71719 12.77518 12.82887 12.87858 9% 1.00000 1.91743 2.75911 3.53130 4.23972 4.88965 5.48592 6.03295 6.53482 6.99525 7.41766 7.80519 8.16073 8.48690 8.78615 9.06069 9.31256 9.54363 9.75563 9.95012 10.12855 10.29224 10.44243 10.58021 10.70661 10.82258 10.92897 11.02658 11.11613 11.19828 11.27365 11.34280 11.40624 11.46444 11.51784 11.56682 11.61176 11.65299 11.69082 11.72552 10% 1.00000 1.90909 2.73554 3.48685 4.16986 4.79079 5.35526 5.86842 6.33493 6.75902 7.14457 7.49506 7.81369 8.10336 8.36669 8.60608 8.82371 9.02155 9.20141 9.36492 9.51356 9.64869 9.77154 9.88322 9.98474 10.07704 10.16095 10.23722 10.30657 10.36961 10.42691 10.47901 10.52638 10.56943 10.60858 10.64416 10.67651 10.70592 10.73265 10.75697 TABLE 6.5 Present Value of an Annuity Due of 1 11% 1.00000 1.90090 2.71252 3.44371 4.10245 4.69590 5.23054 5.71220 6.14612 6.53705 6.88923 7.20652 7.49236 7.74987 7.98187 8.19087 8.37916 8.54879 8.70162 8.83929 8.96333 9.07507 9.17574 9.26643 9.34814 9.42174 9.48806 9.54780 9.60162 9.65011 9.69379 9.73315 9.76860 9.80054 9.82932 9.85524 9.87859 9.89963 9.91859 9.93567 12% 1.00000 1.89286 2.69005 3.40183 4.03735 4.60478 5.11141 5.56376 5.96764 6.32825 6.65022 6.93770 7.19437 7.42355 7.62817 7.81086 7.97399 8.11963 8.24967 8.36578 8.46944 8.56200 8.64465 8.71843 8.78432 8.84314 8.89566 8.94255 8.98442 9.02181 9.05518 9.08499 9.11159 9.13535 9.15656 9.17550 9.19241 9.20751 9.22099 9.23303 15% 1.00000 1.86957 2.62571 3.28323 3.85498 4.35216 4.78448 5.16042 5.48732 5.77158 6.01877 6.23371 6.42062 6.58315 6.72448 6.84737 6.95424 7.04716 7.12797 7.19823 7.25933 7.31246 7.35866 7.39884 7.43377 7.46415 7.49056 7.51353 7.53351 7.55088 7.56598 7.57911 7.59053 7.60046 7.60910 7.61661 7.62314 7.62882 7.63375 7.63805 (n) Periods 12345 67890 10 1 12 13 14 15 6 7 18 19 20 21 22 23 24 25 11 16 17 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Swifty Corporation leased equipment to Windsor, Inc. on January 1, 2020. The lease agreement called for annual rental payments of $1,193 at the beginning of each year of the 3-year lease. The equipment has an economic useful life of 7 years, a fair value of $9,200, a book value of $7,200, and Swifty expects a residual value of $6,700 at the end of the lease term. Swifty set the lease payments with the intent of earning a 5% return, though Windsor is unaware of the rate implicit in the lease and has an incremental borrowing rate of 7%. There is no bargain purchase option, ownership of the lease does not transfer at the end of the lease term, and the asset is not of a specialized nature. How would Swifty's accounting in part a change if it incurred legal fees of $500 to execute the lease documents and $600 in advertising expenses for the year in connection with the lease? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,275. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit TABLE 6.1 Periods 1 2345 678910 1 12 13 14 15 11 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Future Value of 1 (Future Value of a Single Sum) FVFni = (1 + i) 2% 1.02000 1.04040 1.06121 1.08243 1.10408 1.12616 1.14869 1.17166 1.19509 1.21899 1.24337 1.26824 1.29361 1.31948 1.34587 1.37279 1.40024 1.42825 1.45681 1.48595 1.51567 1.54598 1.57690 1.60844 1.64061 1.67342 1.70689 1.74102 1.77584 1.81136 1.84759 1.88454 1.92223 1.96068 1.99989 2.03989 2.08069 2.12230 2.16474 2.20804 2% 1.02500 1.05063 1.07689 1.10381 1.13141 1.15969 1.18869 1.21840 1.24886 1.28008 1.31209 1.34489 1.37851 1.41297 1.44830 1.48451 1.52162 1.55966 1.59865 1.63862 1.67958 1.72157 1.76461 1.80873 1.85394 1.90029 1.94780 1.99650 2.04641 2.09757 2.15001 2.20376 2.25885 2.31532 2.37321 2.43254 2.49335 2.55568 2.61957 2.68506 3% 1.03000 1.06090 1.09273 1.12551 1.15927 1.19405 1.22987 1.26677 1.30477 1.34392 1.38423 1.42576 1.46853 1.51259 1.55797 1.60471 1.65285 1.70243 1.75351 1.80611 1.86029 1.91610 1.97359 2.03279 2.09378 2.15659 2.22129 2.28793 2.35657 2.42726 2.50008 2.57508 2.65234 2.73191 2.81386 2.89828 2.98523 3.07478 3.16703 3.26204 4% 1.04000 1.08160 1.12486 1.16986 1.21665 1.26532 1.31593 1.36857 1.42331 1.48024 1.53945 1.60103 1.66507 1.73168 1.80094 1.87298 1.94790 2.02582 2.10685 2.19112 2.27877 2.36992 2.46472 2.56330 2.66584 2.77247 2.88337 2.99870 3.11865 3.24340 3.37313 3.50806 3.64838 3.79432 3.94609 4.10393 4.26809 4.43881 4.61637 4.80102 5% 1.05000 1.10250 1.15763 1.21551 1.27628 1.34010 1.40710 1.47746 1.55133 1.62889 1.71034 1.79586 1.88565 1.97993 2.07893 2.18287 2.29202 2.40662 2.52695 2.65330 2.78596 2.92526 3.07152 3.22510 3.38635 3.55567 3.73346 3.92013 4.11614 4.32194 4.53804 4.76494 5.00319 5.25335 5.51602 5.79182 6.08141 6.38548 6.70475 7.03999 6% 1.06000 1.12360 1.19102 1.26248 1.33823 1.41852 1.50363 1.59385 1.68948 1.79085 1.89830 2.01220 2.13293 2.26090 2.39656 2.54035 2.69277 2.85434 3.02560 3.20714 3.39956 3.60354 3.81975 4.04893 4.29187 4.54938 4.82235 5.11169 5.41839 5.74349 6.08810 6.45339 6.84059 7.25103 7.68609 8.14725 8.63609 9.15425 9.70351 10.28572 8% 1.08000 1.16640 1.25971 1.36049 1.46933 1.58687 1.71382 1.85093 1.99900 2.15892 2.33164 2.51817 2.71962 2.93719 3.17217 3.42594 3.70002 3.99602 4.31570 4.66096 5.03383 5.43654 5.87146 6.34118 6.84847 7.39635 7.98806 8.62711 9.31727 10.06266 10.86767 11.73708 12.67605 13.69013 14.78534 15.96817 17.24563 18.62528 20.11530 21.72452 9% 1.09000 1.18810 1.29503 1.41158 1.53862 1.67710 1.82804 1.99256 2.17189 2.36736 2.58043 2.81267 3.06581 3.34173 3.64248 3.97031 4.32763 4.71712 5.14166 5.60441 6.10881 6.65860 7.25787 7.91108 8.62308 9.39916 10.24508 11.16714 12.17218 13.26768 14.46177 15.76333 17.18203 18.72841 20.41397 22.25123 24.25384 26.43668 28.81598 31.40942 10% 1.10000 1.21000 1.33100 1.46410 1.61051 1.77156 1.94872 2.14359 2.35795 2.59374 2.85312 3.13843 3.45227 3.79750 4.17725 4.59497 5.05447 5.55992 6.11591 6.72750 7.40025 8.14028 8.95430 9.84973 10.83471 11.91818 13.10999 14.42099 15.86309 17.44940 19.19434 21.11378 23.22515 25.54767 28.10244 30.91268 34.00395 37.40434 41.14479 45.25926 11% 1.11000 1.23210 1.36763 1.51807 1.68506 1.87041 2.07616 2.30454 2.55803 2.83942 3.15176 3.49845 3.88328 4.31044 4.78459 5.31089 5.89509 6.54355 7.26334 8.06231 8.94917 9.93357 11.02627 12.23916 13.58546 15.07986 16.73865 18.57990 20.62369 22.89230 25.41045 28.20560 31.30821 34.75212 38.57485 42.81808 47.52807 52.75616 58.55934 65.00087 12% 1.12000 1.25440 1.40493 1.57352 1.76234 1.97382 2.21068 2.47596 2.77308 3.10585 3.47855 3.89598 4.36349 4.88711 5.47357 6.13039 6.86604 7.68997 8.61276 9.64629 10.80385 12.10031 13.55235 15.17863 17.00000 19.04007 21.32488 23.88387 26.74993 29.95992 33.55511 37.58173 42.09153 47.14252 52.79962 59.13557 66.23184 74.17966 83.08122 93.05097 TABLE 6.1 Future Value of 1 15% 1.15000 1.32250 1.52088 1.74901 2.01136 2.31306 2.66002 3.05902 3.51788 4.04556 4.65239 5.35025 6.15279 7.07571 8.13706 9.35762 10.76126 12.37545 14.23177 16.36654 18.82152 21.64475 24.89146 28.62518 32.91895 37.85680 43.53532 50.06561 57.57545 66.21177 76.14354 87.56507 100.69983 115.80480 133.17552 153.15185 176.12463 202.54332 232.92482 267.86355 (n) Periods 1 2 3 4 5 67890 10 112131415 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 TABLE 6.2 Present Value of 1 (Present Value of a Single Sum) 1 (1 + i)-" (1 + i)" (n) Periods 1234 L 5 67899 10 1 12 13 14 15 11 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 2% .98039 .96117 .94232 .92385 .90573 .88797 .87056 .85349 .83676 .82035 .80426 .78849 .77303 .75788 .74301 .72845 .71416 .70016 .68643 .67297 .65978 .64684 .63416 .62172 .60953 .59758 .58586 .57437 .56311 .55207 .54125 .53063 .52023 .51003 50003 .49022 .48061 .47119 .46195 .45289 PVFn,i = 2% .97561 .95181 .92860 .90595 .88385 .86230 .84127 .82075 .80073 .78120 .76214 .74356 .72542 .70773 .69047 .67362 .65720 .64117 .62553 .61027 .59539 .58086 .56670 .55288 .53939 .52623 .51340 .50088 .48866 .47674 .46511 .45377 .44270 .43191 .42137 .41109 .40107 .39128 .38174 .37243 3% .97087 .94260 .91514 .88849 .86261 .83748 .81309 .78941 .76642 .74409 .72242 .70138 .68095 .66112 .64186 .62317 .60502 .58739 .57029 .55368 .53755 .52189 .50669 49193 .47761 .46369 .45019 .43708 .42435 .41199 .39999 .38834 37703 .36604 .35538 .34503 .33498 .32523 .31575 .30656 4% .96154 .92456 .88900 .85480 .82193 .79031 .75992 .73069 .70259 .67556 .64958 .62460 .60057 .57748 .55526 .53391 .51337 .49363 .47464 .45639 43883 .42196 .40573 .39012 .37512 .36069 .34682 .33348 .32065 .30832 .29646 .28506 .27409 .26355 .25342 .24367 .23430 .22529 .21662 .20829 5% .95238 .90703 .86384 .82270 .78353 .74622 .71068 .67684 .64461 .61391 .58468 .55684 .53032 .50507 .48102 .45811 .43630 41552 .39573 .37689 .35894 .34185 .32557 .31007 .29530 .28124 .26785 .25509 .24295 .23138 .22036 .20987 .19987 .19035 .18129 .17266 .16444 .15661 .14915 .14205 6% .94340 .89000 .83962 .79209 .74726 .70496 .66506 .62741 .59190 .55839 .52679 .49697 .46884 .44230 .41727 .39365 .37136 .35034 .33051 .31180 .29416 .27751 .26180 .24698 .23300 .21981 .20737 .19563 .18456 .17411 .16425 .15496 .14619 .13791 .13011 .12274 .11579 .10924 .10306 .09722 8% .92593 .85734 .79383 .73503 .68058 .63017 .58349 .54027 .50025 .46319 .42888 .39711 .36770 .34046 .31524 .29189 .27027 .25025 .23171 .21455 .19866 .18394 .17032 .15770 .14602 .13520 .12519 .11591 .10733 .09938 .09202 .08520 .07889 .07305 .06763 .06262 .05799 .05369 .04971 .04603 9% .91743 .84168 .77218 .70843 .64993 59627 .54703 .50187 .46043 .42241 .38753 .35554 .32618 .29925 .27454 .25187 .23107 .21199 .19449 .17843 .16370 .15018 .13778 .12641 .11597 .10639 .09761 .08955 .08216 .07537 .06915 .06344 .05820 .05340 .04899 .04494 .04123 .03783 .03470 .03184 10% .90909 .82645 .75132 .68301 .62092 .56447 .51316 .46651 .42410 .38554 .35049 .31863 .28966 .26333 .23939 .21763 .19785 .17986 .16351 .14864 .13513 .12285 .11168 .10153 .09230 .08391 .07628 .06934 .06304 .05731 .05210 .04736 .04306 .03914 .03558 .03235 .02941 .02674 .02430 .02210 11% .90090 .81162 .73119 .65873 .59345 .53464 .48166 43393 .39092 .35218 .31728 .28584 .25751 .23199 .20900 .18829 .16963 .15282 .13768 .12403 .11174 .10067 .09069 .08170 .07361 .06631 .05974 .05382 .04849 .04368 .03935 .03545 .03194 .02878 .02592 .02335 .02104 .01896 .01708 .01538 12% .89286 .79719 .71178 .63552 .56743 .50663 .45235 .40388 .36061 .32197 .28748 .25668 .22917 .20462 .18270 .16312 .14564 .13004 .11611 .10367 .09256 .08264 .07379 .06588 .05882 .05252 .04689 .04187 .03738 .03338 .02980 .02661 .02376 .02121 .01894 .01691 .01510 .01348 .01204 .01075 TABLE 6.2 Present Value of 1 15% .86957 .75614 .65752 .57175 .49718 .43233 .37594 .32690 .28426 .24719 .21494 .18691 .16253 .14133 .12289 .10687 .09293 .08081 .07027 .06110 .05313 .04620 .04017 .03493 .03038 .02642 .02297 .01997 .01737 01510 .01313 .01142 .00993 .00864 .00751 .00653 .00568 .00494 .00429 .00373 (n) Periods 12345 678910 1 12 13 14 15 11 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 TABLE 6.3 (n) Periods 1 2345 67890 10 11 1 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 38 37 38 39 40 36 Future Value of an Ordinary Annuity of 1 2% 1.00000 2.02000 3.06040 4.12161 5.20404 6.30812 7.43428 8.58297 9.75463 10.94972 12.16872 13.41209 14.68033 15.97394 17.29342 18.63929 20.01207 21.41231 22.84056 24.29737 25.78332 27.29898 28.84496 30.42186 32.03030 33.67091 35.34432 37.05121 38.79223 40.56808 42.37944 44.22703 46.11157 48.03380 49.99448 51.99437 54.03425 56.11494 58.23724 60.40198 2% 1.00000 2.02500 3.07563 4.15252 5.25633 6.38774 7.54743 8.73612 9.95452 11.20338 12.48347 13.79555 15.14044 16.51895 17.93193 19.38022 20.86473 22.38635 23.94601 25.54466 27.18327 28.86286 30.58443 32.34904 34.15776 36.01171 37.91200 39.85980 41.85630 43.90270 46.00027 48.15028 50.35403 52.61289 54.92821 57.30141 59.73395 62.22730 64.78298 67.40255 FVF-OAn,i = (1 + i) 1 i 3% 1.00000 2.03000 3.09090 4.18363 5.30914 6.46841 7.66246 8.89234 10.15911 11.46338 12.80780 14.19203 15.61779 17.08632 18.59891 20.15688 21.76159 23.41444 25.11687 26.87037 28.67649 30.53678 32.45288 34.42647 36.45926 38.55304 40.70963 42.93092 45.21885 47.57542 50.00268 52.50276 55.07784 57.73018 60.46208 63.27594 66.17422 69.15945 72.23423 75.40126 - 4% 1.00000 2.04000 3.12160 4.24646 5.41632 6.63298 7.89829 9.21423 10.58280 12.00611 13.48635 15.02581 16.62684 18.29191 20.02359 21.82453 23.69751 25.64541 27.67123 29.77808 31.96920 34.24797 36.61789 39.08260 41.64591 44.31174 47.08421 49.96758 52.96629 56.08494 59.32834 62.70147 66.20953 69.85791 73.65222 77.59831 81.70225 85.97034 90.40915 95.02552 5% 1.00000 2.05000 3.15250 4.31013 5.52563 6.80191 8.14201 9.54911 11.02656 12.57789 14.20679 15.91713 17.71298 19.59863 21.57856 23.65749 25.84037 28.13238 30.53900 33.06595 35.71925 38.50521 41.43048 44.50200 47.72710 51.11345 54.66913 58.40258 62.32271 66.43885 70.76079 75.29883 80.06377 85.06696 90.32031 95.83632 101.62814 107.70955 114.09502 120.79977 6% 1.00000 2.06000 3.18360 4.37462 5.63709 6.97532 8.39384 9.89747 11.49132 13.18079 14.97164 16.86994 18.88214 21.01507 23.27597 25.67253 28.21288 30.90565 33.75999 36.78559 39.99273 43.39229 46.99583 50.81558 54.86451 59.15638 63.70577 68.52811 73.63980 79.05819 84.80168 90.88978 97.34316 104.18376 111.43478 119.12087 127.26812 135.90421 145.05846 154.76197 8% 1.00000 2.08000 3.24640 4.50611 5.86660 7.33592 8.92280 10.63663 12.48756 14.48656 16.64549 18.97713 21.49530 24.21492 27.15211 30.32428 33.75023 37.45024 41.44626 45.76196 50.42292 55.45676 60.89330 66.76476 73.10594 79.95442 87.35077 95.33883 103.96594 113.28321 123.34587 134.21354 145.95062 158.62667 172.31680 187.10215 203.07032 220.31595 238.94122 259.05652 9% 1.00000 2.09000 3.27810 4.57313 5.98471 7.52334 9.20044 11.02847 13.02104 15.19293 17.56029 20.14072 22.95339 26.01919 29.36092 33.00340 36.97371 41.30134 46.01846 51.16012 56.76453 62.87334 69.53194 76.78981 84.70090 93.32398 102.72314 112.96822 124.13536 136.30754 149.57522 164.03699 179.80032 196.98234 215.71076 236.12472 258.37595 282.62978 309.06646 337.88245 10% 1.00000 2.10000 3.31000 4.64100 6.10510 7.71561 9.48717 11.43589 13.57948 15.93743 18.53117 21.38428 24.52271 27.97498 31.77248 35.94973 40.54470 45.59917 51.15909 57.27500 64.00250 71.40275 79.54302 88.49733 98.34706 109.18177 121.09994 134.20994 148.63093 164.49402 181.94343 201.13777 222.25154 245.47670 271.02437 299.12681 330.03949 364.04343 401.44778 442.59256 TABLE 6.3 11% 1.00000 2.11000 3.34210 4.70973 6.22780 7.91286 9.78327 11.85943 14.16397 16.72201 19.56143 22.71319 26.21164 30.09492 34.40536 39.18995 44.50084 50.39593 56.93949 64.20283 72.26514 81.21431 91.14788 102.17415 114.41331 127.99877 143.07864 159.81729 178.39719 199.02088 221.91317 247.32362 275.52922 306.83744 341.58955 380.16441 422.98249 470.51056 523.26673 581.82607 Future Value of an Ordinary Annuity of 1 12% 1.00000 2.12000 3.37440 4.77933 6.35285 8.11519 10.08901 12.29969 14.77566 17.54874 20.65458 24.13313 28.02911 32.39260 37.27972 42.75328 48.88367 55.74972 63.43968 72.05244 81.69874 92.50258 104.60289 118.15524 133.33387 150.33393 169.37401 190.69889 214.58275 241.33268 271.29261 304.84772 342.42945 384.52098 431.66350 484.46312 543.59869 609.83053 684.01020 767.09142 15% 1.00000 2.15000 3.47250 4.99338 6.74238 8.75374 11.06680 13.72682 16.78584 20.30372 24.34928 29.00167 34.35192 40.50471 47.58041 55.71747 65.07509 75.83636 88.21181 102.44358 118.81012 137.63164 159.27638 184.16784 212.79302 245.71197 283.56877 327.10408 377.16969 434.74515 500.95692 577.10046 644.66553 765.36535 881.17016 1014.34568 1167.49753 1343.62216 1546.16549 1779.09031 (n) Periods 12345 678910 1 12 13 14 15 11 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 TABLE 6.4 Present Value of an Ordinary Annuity of 1 Periods GAWN 1 2 3 4 5 67890 10 11 1 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 2% .98039 1.94156 2.88388 3.80773 4.71346 5.60143 6.47199 7.32548 8.16224 8.98259 9.78685 10.57534 11.34837 12.10625 12.84926 13.57771 14.29187 14.99203 15.67846 16.35143 17.01121 17.65805 18.29220 18.91393 19.52346 20.12104 20.70690 21.28127 21.84438 22.39646 22.93770 23.46833 23.98856 24.49859 24.99862 25.48884 25.96945 26.44064 26.90259 27.35548 PVF-OAn,i = 2% .97561 1.92742 2.85602 3.76197 4.64583 5.50813 6.34939 7.17014 7.97087 8.75206 9.51421 10.25776 10.98319 11.69091 12.38138 13.05500 13.71220 14.35336 14.97889 15.58916 16.18455 16.76541 17.33211 17.88499 18.42438 18.95061 19.46401 19.96489 20.45355 20.93029 21.39541 21.84918 22.29188 22.72379 23.14516 23.55625 23.95732 24.34860 24.73034 25.10278 1 3% .97087 1.91347 2.82861 3.71710 4.57971 5.41719 6.23028 7.01969 7.78611 8.53020 9.25262 9.95400 10.63496 11.29607 11.93794 12.56110 13.16612 13.75351 14.32380 14.87747 15.41502 15.93692 16.44361 16.93554 17.41315 17.87684 18.32703 18.76411 19.18845 19.60044 20.00043 20.38877 20.76579 21.13184 21.48722 21.83225 22.16724 22.49246 22.80822 23.11477 1 (1 + ) j 4% .96154 1.88609 2.77509 3.62990 4.45182 5.24214 6.00205 6.73274 7.43533 8.11090 8.76048 9.38507 9.98565 10.56312 11.11839 11.65230 12.16567 12.65930 13.13394 13.59033 14.02916 14.45112 14.85684 15.24696 15.62208 15.98277 16.32959 16.66306 16.98371 17.29203 17.58849 17.87355 18.14765 18.41120 18.66461 18.90828 19.14258 19.36786 19.58448 19.79277 5% .95238 1.85941 2.72325 3.54595 4.32948 5.07569 5.78637 6.46321 7.10782 7.72173 8.30641 8.86325 9.39357 9.89864 10.37966 10.83777 11.27407 11.68959 12.08532 12.46221 12.82115 13.16300 13.48857 13.79864 14.09394 14.37519 14.64303 14.89813 15.14107 15.37245 15.59281 15.80268 16.00255 16.19290 16.37419 16.54685 16.71129 16.86789 17.01704 17.15909 6% .94340 1.83339 2.67301 3.46511 4.21236 4.91732 5.58238 6.20979 6.80169 7.36009 7.88687 8.38384 8.85268 9.29498 9.71225 10.10590 10.47726 10.82760 11.15812 11.46992 11.76408 12.04158 12.30338 12.55036 12.78336 13.00317 13.21053 13.40616 13.59072 13.76483 13.92909 14.08404 14.23023 14.36814 14.49825 14.62099 14.73678 14.84602 14.94907 15.04630 8% .92593 1.78326 2.57710 3.31213 3.99271 4.62288 5.20637 5.74664 6.24689 6.71008 7.13896 7.53608 7.90378 8.24424 8.55948 8.85137 9.12164 9.37189 9.60360 9.81815 10.01680 10.20074 10.37106 10.52876 10.67478 10.80998 10.93516 11.05108 11.15841 11.25778 11.34980 11.43500 11.51389 11.58693 11.65457 11.71719 11.77518 11.82887 11.87858 11.92461 9% .91743 1.75911 2.53130 3.23972 3.88965 4.48592 5.03295 5.53482 5.99525 6.41766 6.80519 7.16073 7.48690 7.78615 8.06069 8.31256 8.54363 8.75563 8.95012 9.12855 9.29224 9.44243 9.58021 9.70661 9.82258 9.92897 10.02658 10.11613 10.19828 10.27365 10.34280 10.40624 10.46444 10.51784 10.56682 10.61176 10.65299 10.69082 10.72552 10.75736 10% .90909 1.73554 2.48685 3.16986 3.79079 4.35526 4.86842 5.33493 5.75902 6.14457 6.49506 6.81369 7.10336 7.36669 7.60608 7.82371 8.02155 8.20141 8.36492 8.51356 8.64869 8.77154 8.88322 8.98474 9.07704 9.16095 9.23722 9.30657 9.36961 9.42691 9.47901 9.52638 9.56943 9.60858 9.64416 9.67651 9.70592 9.73265 9.75697 9.77905 TABLE 6.4 Present Value of an Ordinary Annuity of 1 11% .90090 1.71252 2.44371 3.10245 3.69590 4.23054 4.71220 5.14612 5.53705 5.88923 6.20652 6.49236 6.74987 6.98187 7.19087 7.37916 7.54879 7.70162 7.83929 7.96333 8.07507 8.17574 8.26643 8.34814 8.42174 8.48806 8.54780 8.60162 8.65011 8.69379 8.73315 8.76860 8.80054 8.82932 8.85524 8.87859 8.89963 8.91859 8.93567 8.95105 12% .89286 1.69005 2.40183 3.03735 3.60478 4.11141 4.56376 4.96764 5.32825 5.65022 5.93770 6.19437 6.42355 6.62817 6.81086 6.97399 7.11963 7.24967 7.36578 7.46944 7.56200 7.64465 7.71843 7.78432 7.84314 7.89566 7.94255 7.98442 8.02181 8.05518 8.08499 8.11159 8.13535 8.15656 8.17550 8.19241 8.20751 8.22099 8.23303 8.24378 15% .86957 1.62571 2.28323 2.85498 3.35216 3.78448 4.16042 4.48732 4.77158 5.01877 5.23371 5.42062 5.58315 5.72448 5.84737 5.95424 6.04716 6.12797 6.19823 6.25933 6.31246 6.35866 6.39884 6.43377 6.46415 6.49056 6.51353 6.53351 6.55088 6.56598 6.57911 6.59053 6.60046 6.60910 6.61661 6.62314 6.62882 6.63375 6.63805 6.64178 Periods 12345 678910 1 12 13 14 15 11 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 TABLE 6.5 Present Value of an Annuity Due of 1 (n) Periods GAWN 2 3 4 5 67890 10 11 1 12 1314 15 16 17 18 19 20 ZNANA 2N828 21 22 23 24 25 26 27 29 30 31 32 33 34 35 36 37 38 39 40 2% 1.00000 1.98039 2.94156 3.88388 4.80773 5.71346 6.60143 7.47199 8.32548 9.16224 9.98259 10.78685 11.57534 12.34837 13.10625 13.84926 14.57771 15.29187 15.99203 16.67846 17.35143 18.01121 18.65805 19.29220 19.91393 20.52346 21.12104 21.70690 22.28127 22.84438 23.39646 23.93770 24.46833 24.98856 25.49859 25.99862 26.48884 26.96945 27.44064 27.90259 PVF-ADn,i 2% 1.00000 1.97561 2.92742 3.85602 4.76197 5.64583 6.50813 7.34939 8.17014 8.97087 9.75206 10.51421 11.25776 11.98319 12.69091 13.38138 14.05500 14.71220 15.35336 15.97889 16.58916 17.18455 17.76541 18.33211 18.88499 19.42438 19.95061 20.46401 20.96489 21.45355 21.93029 22.39541 22.84918 23.29188 23.72379 24.14516 24.55625 24.95732 25.34860 25.73034 = 1 + 1 3% 1.00000 1.97087 2.91347 3.82861 4.71710 5.57971 6.41719 7.23028 8.01969 8.78611 9.53020 10.25262 10.95400 11.63496 12.29607 12.93794 13.56110 14.16612 14.75351 15.32380 15.87747 16.41502 16.93692 17.44361 17.93554 18.41315 18.87684 19.32703 19.76411 20.18845 20.60044 21.00043 21.38877 21.76579 22.13184 22.48722 22.83225 23.16724 23.49246 23.80822 1 (1 + i)' j 17-1 4% 1.00000 1.96154 2.88609 3.77509 4.62990 5.45182 6.24214 7.00205 7.73274 8.43533 9.11090 9.76048 10.38507 10.98565 11.56312 12.11839 12.65230 13.16567 13.65930 14.13394 14.59033 15.02916 15.45112 15.85684 16.24696 16.62208 16.98277 17.32959 17.66306 17.98371 18.29203 18.58849 18.87355 19.14765 19.41120 19.66461 19.90828 20.14258 20.36786 20.58448 5% 1.00000 1.95238 2.85941 3.72325 4.54595 5.32948 6.07569 6.78637 7.46321 8.10782 8.72173 9.30641 9.86325 10.39357 10.89864 11.37966 11.83777 12.27407 12.68959 13.08532 13.46221 13.82115 14.16300 14.48857 14.79864 15.09394 15.37519 15.64303 15.89813 16.14107 16.37245 16.59281 16.80268 17.00255 17.19290 17.37419 17.54685 17.71129 17.86789 18.01704 6% 1.00000 1.94340 2.83339 3.67301 4.46511 5.21236 5.91732 6.58238 7.20979 7.80169 8.36009 8.88687 9.38384 9.85268 10.29498 10.71225 11.10590 11.47726 11.82760 12.15812 12.46992 12.76408 13.04158 13.30338 13.55036 13.78336 14.00317 14.21053 14.40616 14.59072 14.76483 14.92909 15.08404 15.23023 15.36814 15.49825 15.62099 15.73678 15.84602 15.94907 8% 1.00000 1.92593 2.78326 3.57710 4.31213 4.99271 5.62288 6.20637 6.74664 7.24689 7.71008 8.13896 8.53608 8.90378 9.24424 9.55948 9.85137 10.12164 10.37189 10.60360 10.81815 11.01680 11.20074 11.37106. 11.52876 11.67478 11.80998 11.93518 12.05108 12.15841 12.25778 12.34980 12.43500 12.51389 12.58693 12.65457 12.71719 12.77518 12.82887 12.87858 9% 1.00000 1.91743 2.75911 3.53130 4.23972 4.88965 5.48592 6.03295 6.53482 6.99525 7.41766 7.80519 8.16073 8.48690 8.78615 9.06069 9.31256 9.54363 9.75563 9.95012 10.12855 10.29224 10.44243 10.58021 10.70661 10.82258 10.92897 11.02658 11.11613 11.19828 11.27365 11.34280 11.40624 11.46444 11.51784 11.56682 11.61176 11.65299 11.69082 11.72552 10% 1.00000 1.90909 2.73554 3.48685 4.16986 4.79079 5.35526 5.86842 6.33493 6.75902 7.14457 7.49506 7.81369 8.10336 8.36669 8.60608 8.82371 9.02155 9.20141 9.36492 9.51356 9.64869 9.77154 9.88322 9.98474 10.07704 10.16095 10.23722 10.30657 10.36961 10.42691 10.47901 10.52638 10.56943 10.60858 10.64416 10.67651 10.70592 10.73265 10.75697 TABLE 6.5 Present Value of an Annuity Due of 1 11% 1.00000 1.90090 2.71252 3.44371 4.10245 4.69590 5.23054 5.71220 6.14612 6.53705 6.88923 7.20652 7.49236 7.74987 7.98187 8.19087 8.37916 8.54879 8.70162 8.83929 8.96333 9.07507 9.17574 9.26643 9.34814 9.42174 9.48806 9.54780 9.60162 9.65011 9.69379 9.73315 9.76860 9.80054 9.82932 9.85524 9.87859 9.89963 9.91859 9.93567 12% 1.00000 1.89286 2.69005 3.40183 4.03735 4.60478 5.11141 5.56376 5.96764 6.32825 6.65022 6.93770 7.19437 7.42355 7.62817 7.81086 7.97399 8.11963 8.24967 8.36578 8.46944 8.56200 8.64465 8.71843 8.78432 8.84314 8.89566 8.94255 8.98442 9.02181 9.05518 9.08499 9.11159 9.13535 9.15656 9.17550 9.19241 9.20751 9.22099 9.23303 15% 1.00000 1.86957 2.62571 3.28323 3.85498 4.35216 4.78448 5.16042 5.48732 5.77158 6.01877 6.23371 6.42062 6.58315 6.72448 6.84737 6.95424 7.04716 7.12797 7.19823 7.25933 7.31246 7.35866 7.39884 7.43377 7.46415 7.49056 7.51353 7.53351 7.55088 7.56598 7.57911 7.59053 7.60046 7.60910 7.61661 7.62314 7.62882 7.63375 7.63805 (n) Periods 12345 67890 10 1 12 13 14 15 6 7 18 19 20 21 22 23 24 25 11 16 17 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40