Helen wants to take the next four years off work to travel around the world. She...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Helen wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $31,000 (if she needs more, she will work odd jobs). Helen believes she can invest her savings at 10% until she depletes her funds. (Click the icon to view Present Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of $1 table.) Read the requirements. Requirement 1. How much money does Helen need now to fund her travels? (Round your answer to the nearest whole dollar.) With the 10% interest rate, Helen needs $ Requirement 2. After speaking with a number of banks, Helen learns she will only be able to invest her funds at 6%. How much does she need now to fund her travels? (Round your answer to the nearest whole dollar.) With a 6% interest rate, Helen would need $ If Helen's savings are earning a lower interest rate (6%), she will need to save to be able to withdraw $31,000 per year. Reference Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 16% 18% 20% 1 0.990 0.980 0.971 0.962 0.952 0.943 0.935 2 3 4 5 6 7 8 9 10 11 0.135 0.215 0.195 0.162 0.168 0.137 12 13 14 7% 8% 9% 10% 12% 14% 15% 0.926 0.917 0.909 0.893 0.877 0.870 0.862 0.847 0.833 0.980 0.961 0.943 0.925 0.907 0.890 0.873 0.857 0.842 0.826 0.797 0.769 0.756 0.743 0.718 0.694 0.971 0.942 0.915 0.889 0.864 0.840 0.816 0.794 0.772 0.751 0.712 0.675 0.658 0.641 0.609 0.579 0.961 0.924 0.888 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.636 0.592 0.572 0.552 0.516 0.482 0.951 0.906 0.863 0.822 0.784 0.747 0.713 0.681 0.650 0.621 0.567 0.519 0.497 0.476 0.437 0.402 0.942 0.888 0.837 0.790 0.746 0.705 0.666 0.630 0.596 0.564 0.507 0.456 0.432 0.410 0.370 0.335 0.933 0.871 0.813 0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.452 0.400 0.376 0.354 0.314 0.279 0.923 0.853 0.789 0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.404 0.351 0.327 0.305 0.266 0.233 0.914 0.837 0.766 0.703 0.645 0.592 0.544 0.500 0.460 0.424 0.361 0.308 0.284 0.263 0.225 0.194 0.905 0.820 0.744 0.676 0.614 0.558 0.508 0.463 0.422 0.386 0.322 0.270 0.247 0.227 0.191 0.162 0.896 0.804 0.722 0.650 0.585 0.527 0.475 0.429 0.388 0.350 0.287 0.237 0.887 0.788 0.701 0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.257 0.208 0.187 0.112 0.879 0.773 0.681 0.601 0.530 0.469 0.415 0.368 0.326 0.290 0.229 0.182 0.163 0.145 0.116 0.093 0.870 0.758 0.661 0.577 0.505 0.442 0.388 0.340 0.299 0.263 0.205 0.160 0.141 0.125 0.099 0.078 0.861 0.743 0.642 0.555 0.481 0.417 0.362 0.315 0.275 0.239 0.183 0.140 0.123 0.108 0.084 0.065 0.534 0.458 0.394 0.339 0.292 0.252 0.218 0.163 0.123 0.107 0.093 0.071 0.054 0.513 0.436 0.371 0.317 0.270 0.231 0.198 0.146 0.108 0.093 0.080 0.060 0.045 0.350 0.296 0.250 0.212 0.180 0.130 0.331 0.277 0.232 0.194 0.164 0.116 0.083 0.312 0.258 0.215 0.178 0.149 0.294 0.242 0.199 0.164 0.135 0.093 0.064 0.053 0.044 0.031 0.022 0.278 0.226 0.184 0.150 0.123 0.083 0.056 0.046 0.038 0.026 0.018 0.170 0.138 0.112 0.074 0.049 0.040 0.033 0.022 0.015 0.102 0.066 0.043 0.035 0.028 0.019 0.013 0.092 0.059 0.038 0.084 0.053 0.076 0.047 0.042 0.037 15 16 0.853 0.728 17 0.844 0.714 0.623 0.605 0.587 0.570 18 0.836 0.700 0.494 0.416 19 0.828 0.686 0.475 0.396 0.095 0.081 0.069 0.051 0.038 0.070 0.060 0.043 0.031 0.061 0.051 0.037 0.026 20 0.820 0.673 0.554 0.456 0.377 0.104 0.073 21 0.811 0.660 0.538 0.439 0.359 22 0.803 0.647 0.522 0.422 0.342 23 0.795 0.634 0.507 0.406 0.326 0.262 0.211 24 0.788 0.622 0.492 0.390 0.310 0.247 0.197 0.158 0.126 0.116 25 0.780 0.610 0.478 0.375 0.295 0.233 0.184 0.146 0.030 0.024 0.016 0.010 26 0.135 0.106 0.772 0.598 0.764 0.586 27 28 0.033 0.026 0.021 0.014 0.009 0.029 0.023 0.018 0.011 0.007 0.026 0.020 0.016 0.010 0.006 0.022 0.017 0.014 0.008 0.005 0.004 29 0.464 0.361 0.281 0.220 0.172 0.450 0.347 0.268 0.207 0.161 0.125 0.098 0.757 0.574 0.437 0.333 0.255 0.196 0.150 0.116 0.090 0.069 0.321 0.243 0.185 0.141 0.107 0.082 0.063 0.308 0.231 0.174 0.131 0.099 0.075 0.057 0.672 0.453 0.307 0.208 0.142 0.097 0.067 0.046 0.032 0.022 0.372 0.228 0.141 0.087 0.054 0.034 0.021 0.013 0.749 0.563 0.424 30 0.742 0.552 0.412 0.033 0.020 0.015 0.012 0.007 40 0.001 0.011 0.005 0.004 0.003 0.001 0.009 0.003 0.001 0.001 0.001 50 0.608 Print Done Reference Future Value of $1 Periods 1% 2% 3% 4% 5% 6% 7% 12% 14% 15% 1 1.010 1.020 1.030 1.040 1.050 1.060 1.070 1.140 1.150 8% 1.080 1.166 1.260 2 1.020 1.040 1.061 1.082 1.103 1.124 1.145 1.120 1.254 1.331 1.405 1.482 1.521 1.300 1.323 3 1.030 1.061 1.093 1.125 1.158 1.191 1.225 4 1.041 1.082 1.360 1.412 1.464 1.574 1.689 1.749 1.126 1.159 1.170 1.216 1.262 1.311 1.217 1.276 1.338 1.403 5 1.051 1.104 1.469 1.539 1.611 1.762 1.925 2.011 6 1.062 1.126 1.677 1.772 1.194 1.265 1.230 1.316 1.340 1.419 1.501 1.407 1.504 1.606 7 1.072 1.149 1.828 1.993 2.144 1.974 2.195 2.313 1.949 2.211 2.502 2.660 3.059 8 1.083 1.172 1.267 1.369 1.587 1.714 1.718 1.851 1.999 2.159 2.367 2.594 1.477 1.594 9 1.094 1.195 1.305 1.423 1.551 1.689 1.838 2.172 2.358 2.476 2.853 2.773 3.252 3.518 3.106 3.707 4.046 10 1.105 1.219 1.344 1.480 1.629 1.791 1.967 11 1.116 1.243 1.384 1.539 1.710 1.898 2.105 2.332 2.580 2.853 3.479 4.226 4.652 2.252 2.518 2.813 3.138 3.896 4.818 12 1.127 1.268 1.426 1.601 1.796 2.012 5.350 13 1.138 1.294 1.469 1.665 1.886 2.133 3.452 4.363 5.492 6.153 14 1.149 1.319 1.513 1.732 1.980 2.410 2.720 3.066 3.342 3.642 3.798 4.887 6.261 2.261 2.579 2.937 3.172 7.076 15 1.161 1.346 1.558 1.801 2.079 2.397 2.759 4.177 5.474 7.138 8.137 16 1.173 1.373 1.873 2.183 2.540 2.952 3.426 3.970 4.595 6.130 8.137 9.358 1.605 1.653 1.948 17 1.184 1.400 2.292 2.693 3.159 3.700 4.328 6.866 9.276 10.76 5.054 5.560 7.690 10.58 12.38 18 1.196 1.428 1.702 2.026 2.407 2.854 3.380 3.996 4.717 1.208 1.457 1.754 2.107 2.527 3.026 3.617 19 20 1.220 1.486 1.806 4.316 5.142 6.116 8.613 12.06 14.23 4.661 5.604 6.727 9.646 13.74 16.37 2.191 2.653 3.207 3.870 21 22 23 24 25 26 1.232 1.516 1.860 2.279 2.786 3.400 4.141 5.034 6.109 7.400 10.80 15.67 18.82 1.245 1.546 1.916 2.370 2.925 3.604 4.430 5.437 6.659 8.140 12.10 17.86 21.64 1.257 1.577 1.974 2.465 3.072 3.820 4.741 5.871 7.258 8.954 13.55 20.36 24.89 1.270 1.608 2.033 2.563 3.225 4.049 5.072 6.341 7.911 9.850 15.18 23.21 28.63 1.282 1.641 2.094 2.666 3.386 4.292 5.427 6.848 8.623 10.83 17.00 26.46 32.92 2.772 3.556 4.549 5.807 7.396 9.399 11.92 19.04 30.17 37.86 2.883 3.733 4.822 6.214 7.988 10.25 13.11 21.32 34.39 43.54 2.999 3.920 5.112 6.649 8.627 11.17 14.42 23.88 39.20 3.119 4.116 5.418 7.114 9.317 12.17 15.86 26.75 44.69 3.243 4.322 5.743 7.612 10.06 13.27 17.45 7.040 10.29 14.97 21.72 31.41 45.26 1.295 1.673 27 2.157 1.308 1.707 2.221 1.321 1.741 2.288 50.07 28 29 1.335 1.776 2.357 57.58 30 1.348 1.811 2.427 29.96 50.95 66.21 40 1.489 2.208 3.262 4.801 93.05 188.9 267.9 50 1.645 2.692 4.384 7.107 11.47 18.42 29.46 46.90 74.36 117.4 289.0 700.2 1,084 Print Done 9% 10% 1.090 1.100 1.188 1.210 1.295 X Reference Present Value of Ordinary Annuity of $1 2% 4% 15% 16% Periods 1% 18% 20% 3% 5% 0.971 0.962 0.952 1 0.990 0.980 0.833 2 1.970 1.942 1.913 2.884 2.829 4 2.941 3.902 3.808 3.717 4.853 5 4.713 4.580 6 5.795 5.601 5.417 7 6.728 6.472 6.230 6.002 8 5.335 4.968 9 10 11 12 13 14 15 6% 7% 8% 9% 10% 12% 14% 0.943 0.935 0.926 0.917 0.909 0.893 0.877 0.870 0.862 0.847 1.886 1.859 1.833 1.808 1.783 1.759 1.736 1.690 1.647 1.626 1.605 1.566 1.528 2.775 2.723 2.673 2.624 2.577 2.531 2.487 2.402 2.322 2.283 2.246 2.174 2.106 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.037 2.914 2.855 2.798 2.690 2.589 4.452 4.329 4.212 4.100 3.993 3.890 3.791 3.605 3.433 3.352 3.274 3.127 2.991 5.242 5.076 4.917 4.767 4.623 4.486 4.355 4.111 3.889 3.784 3.685 3.498 3.326 5.786 5.582 5.389 5.206 5.033 4.868 4.564 4.288 4.160 4.039 3.812 3.605 7.652 7.325 7.020 6.733 6.463 6.210 5.971 5.747 5.535 4.639 4.487 4.344 4.078 3.837 8.566 8.162 7.786 7.435 7.108 6.802 6.515 6.247 5.995 5.759 5.328 4.946 4.772 4.607 4.303 4.031 9.471 8.983 8.530 8.111 7.722 7.360 7.024 6.710 6.418 6.145 5.650 5.216 5.019 4.833 4.494 4.192 10.368 9.787 9.253 8.760 8.306 7.887 7.499 7.139 6.805 6.495 5.938 5.453 5.234 5.029 4.656 4.327 11.255 10.575 9.954 9.385 8.863 8.384 7.943 7.536 7.161 6.814 6.194 5.660 5.421 5.197 4.793 4.439 12.134 11.348 10.635 9.986 9.394 8.853 8.358 7.904 7.487 7.103 6.424 5.842 5.583 5.342 4.910 4.533 13.004 12.106 11.296 10.563 9.895 9.295 8.745 8.244 7.786 7.367 6.62 6.002 5.72 5.468 5.008 4.611 13.865 12.849 11.938 11.118 10.380 9.712 9.108 8.559 8.061 7.606 6.811 6.142 5.847 5.575 5.092 4.675 10.838 10.106 9.447 8.851 8.313 7.824 6.974 6.265 5.954 5.669 5.162 4.730 11.274 10.477 9.763 9.122 8.544 8.022 7.120 6.373 6.047 5.749 5.222 4.775 10.828 10.059 9.372 8.756 8.201 7.250 6.467 6.128 5.818 5.273 4.812 11.158 10.336 9.604 8.950 8.365 7.366 6.550 6.198 5.877 5.316 4.844 11.470 10.594 9.818 9.129 8.514 7.469 6.623 6.259 5.929 5.353 4.870 18.857 17.011 15.415 14.029 12.821 11.764 10.836 10.017 9.292 8.649 7.562 6.687 6.312 5.973 5.384 4.891 19.660 17.658 15.937 14.451 13.163 12.042 11.061 10.201 9.442 8.772 7.645 6.743 6.359 6.011 5.410 4.909 20.456 18.292 16.444 14.857 13.489 12.303 11.272 10.371 9.580 8.883 7.718 6.792 6.399 6.044 5.432 4.925 21.243 18.914 16.936 15.247 13.799 12.550 11.469 10.529 9.707 8.985 7.784 6.835 6.434 6.073 5.451 4.937 22.023 19.523 17.413 15.622 14.094 12.783 11.654 10.675 9.823 9.077 7.843 6.873 6.464 6.097 5.467 4.948 22.795 20.121 17.877 15.983 14.375 13.003 11.826 10.810 9.929 9.161 7.896 6.906 6.491 6.118 5.480 4.956 23.560 20.707 18.327 16.330 14.643 13.211 11.987 10.935 10.027 9.237 7.943 6.935 6.514 6.136 5.492 4.964 24.316 21.281 18.764 16.663 14.898 13.406 12.137 11.051 10.116 9.307 7.984 6.961 6.534 6.152 5.502 4.970 25.066 21.844 19.188 16.984 15.141 13.591 12.278 11.158 10.198 9.370 8.022 6.983 6.551 6.166 5.510 4.975 30 25.808 22.396 19.600 17.292 15.372 13.765 12.409 11.258 10.274 9.427 8.055 7.003 6.566 6.177 5.517 4.979 40 32.835 27.355 23.115 19.793 17.159 15.046 13.332 11.925 10.757 9.779 8.244 7.105 6.642 6.233 5.548 4.997 39.196 31.424 25.730 21.482 18.256 15.762 13.801 12.233 10.962 9.915 8.304 7.133 6.661 6.246 5.554 4.999 16 17 18 14.718 13.578 12.561 11.652 15.562 14.292 13.166 12.166 16.398 14.992 13.754 12.659 11.690 17.226 15.678 14.324 13.134 12.085 18.046 16.351 14.877 13.590 12.462 19 20 21 22 23 24 25 26 27 28 29 50 Print Done Reference Future Value of Ordinary Annuity of $1 Periods 1% 2% 3% 14% 15% 1 8% 9% 1.000 1.000 1.000 2.080 2.090 2.100 1.000 1.000 1.000 2.010 2.020 2.030 1.000 1.000 2 1.000 2.120 2.140 2.150 3.473 3 4 4.993 5 4% 5% 6% 7% 1.000 1.000 1.000 1.000 2.040 2.050 2.060 2.070 3.030 3.060 3.091 3.122 3.153 3.184 3.215 3.246 3.278 3.310 3.374 3.440 4.060 4.122 4.184 4.246 4.310 4.375 4.440 4.506 4.573 4.641 4.779 4.921 5.101 5.204 5.309 5.416 5.526 5.637 5.751 5.867 5.985 6.105 6.353 6.610 6.152 6.308 6.468 6.633 6.802 6.975 7.153 7.336 7.523 7.716 8.115 7.214 7.434 7.662 7.898 8.142 8.394 8.654 8.923 9.200 9.487 8.892 9.214 9.549 9.897 10.260 10.64 11.03 11.44 11.49 11.98 12.49 13.02 13.58 6.742 6 8.536 8.754 10.09 10.73 11.07 7 8 8.286 8.583 9 9.369 9.755 10.16 10.58 11.03 12.30 13.23 13.73 14.78 16.09 15.19 15.94 17.55 16.79 10 10.46 10.95 11.46 12.01 12.58 13.18 13.82 14.49 19.34 20.30 11 11.57 12.17 12.81 13.49 14.21 14.97 15.78 20.65 23.04 24.35 12 12.68 13.41 14.19 15.03 15.92 16.87 17.89 16.65 17.56 18.53 18.98 20.14 21.38 24.13 27.27 29.00 21.50 22.95 24.52 28.03 32.09 34.35 24.21 26.02 27.98 32.39 37.58 40.50 13 13.81 14.68 15.62 16.63 17.71 18.88 20.14 14 14.95 15.97 17.09 18.29 19.60 21.02 22.55 15 16.10 17.29 18.60 20.02 21.58 23.28 25.13 27.15 29.36 31.77 37.28 43.84 47.58 16 17.26 18.64 20.16 21.82 23.66 25.67 27.89 35.95 42.75 50.98 55.72 30.32 33.00 33.75 36.97 17 18.43 20.01 21.76 23.70 25.84 28.21 30.84 18 23.41 25.65 28.13 30.91 34.00 37.45 41.30 45.60 19.61 21.41 20.81 22.84 19 25.12 27.67 30.54 33.76 37.38 41.45 45.76 20 22.02 24.30 26.87 29.78 33.07 36.79 41.00 21 40.54 48.88 59.12 65.08 55.75 68.39 75.84 46.02 51.16 63.44 78.97 88.21 51.16 57.28 72.05 91.02 102.4 23.24 25.78 28.68 31.97 35.72 39.99 44.87 50.42 56.76 64.00 81.70 104.8 118.8 24.47 27.30 30.54 34.25 38.51 43.39 49.01 55.46 62.87 71.40 92.50 120.4 137.6 25.72 28.85 32.45 36.62 41.43 47.00 53.44 60.89 69.53 79.54 104.6 138.3 159.3 26.97 30.42 34.43 39.08 44.50 50.82 58.18 66.76 76.79 88.50 118.2 158.7 28.24 32.03 36.46 41.65 47.73 63.25 73.11 84.70 22 23 24 184.2 25 54.86 98.35 133.3 181.9 212.8 26 29.53 33.67 38.55 44.31 51.11 59.16 109.2 150.3 208.3 27 30.82 35.34 40.71 47.08 28 29 32.13 37.05 42.93 49.97 33.45 38.79 45.22 52.97 34.78 40.57 47.58 56.08 95.03 68.68 79.95 93.32 245.7 54.67 63.71 74.48 87.35 102.7 121.1 169.4 238.5 283.6 58.40 68.53 80.70 95.34 113.0 134.2 190.7 272.9 327.1 62.32 73.64 87.35 104.0 124.1 148.6 214.6 312.1 377.2 66.44 79.06 94.46 113.3 136.3 164.5 241.3 356.8 434.7 120.8 154.8 199.6 259.1 337.9 442.6 767.1 1,342 1,779 209.3 290.3 406.5 573.8 815.1 1,164 2,400 4,995 7,218 30 40 48.89 60.40 75.40 50 64.46 84.58 112.8 152.7 Print Done I 10% 12% Helen wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $31,000 (if she needs more, she will work odd jobs). Helen believes she can invest her savings at 10% until she depletes her funds. (Click the icon to view Present Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of $1 table.) Read the requirements. Requirement 1. How much money does Helen need now to fund her travels? (Round your answer to the nearest whole dollar.) With the 10% interest rate, Helen needs $ Requirement 2. After speaking with a number of banks, Helen learns she will only be able to invest her funds at 6%. How much does she need now to fund her travels? (Round your answer to the nearest whole dollar.) With a 6% interest rate, Helen would need $ If Helen's savings are earning a lower interest rate (6%), she will need to save to be able to withdraw $31,000 per year. Reference Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 16% 18% 20% 1 0.990 0.980 0.971 0.962 0.952 0.943 0.935 2 3 4 5 6 7 8 9 10 11 0.135 0.215 0.195 0.162 0.168 0.137 12 13 14 7% 8% 9% 10% 12% 14% 15% 0.926 0.917 0.909 0.893 0.877 0.870 0.862 0.847 0.833 0.980 0.961 0.943 0.925 0.907 0.890 0.873 0.857 0.842 0.826 0.797 0.769 0.756 0.743 0.718 0.694 0.971 0.942 0.915 0.889 0.864 0.840 0.816 0.794 0.772 0.751 0.712 0.675 0.658 0.641 0.609 0.579 0.961 0.924 0.888 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.636 0.592 0.572 0.552 0.516 0.482 0.951 0.906 0.863 0.822 0.784 0.747 0.713 0.681 0.650 0.621 0.567 0.519 0.497 0.476 0.437 0.402 0.942 0.888 0.837 0.790 0.746 0.705 0.666 0.630 0.596 0.564 0.507 0.456 0.432 0.410 0.370 0.335 0.933 0.871 0.813 0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.452 0.400 0.376 0.354 0.314 0.279 0.923 0.853 0.789 0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.404 0.351 0.327 0.305 0.266 0.233 0.914 0.837 0.766 0.703 0.645 0.592 0.544 0.500 0.460 0.424 0.361 0.308 0.284 0.263 0.225 0.194 0.905 0.820 0.744 0.676 0.614 0.558 0.508 0.463 0.422 0.386 0.322 0.270 0.247 0.227 0.191 0.162 0.896 0.804 0.722 0.650 0.585 0.527 0.475 0.429 0.388 0.350 0.287 0.237 0.887 0.788 0.701 0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.257 0.208 0.187 0.112 0.879 0.773 0.681 0.601 0.530 0.469 0.415 0.368 0.326 0.290 0.229 0.182 0.163 0.145 0.116 0.093 0.870 0.758 0.661 0.577 0.505 0.442 0.388 0.340 0.299 0.263 0.205 0.160 0.141 0.125 0.099 0.078 0.861 0.743 0.642 0.555 0.481 0.417 0.362 0.315 0.275 0.239 0.183 0.140 0.123 0.108 0.084 0.065 0.534 0.458 0.394 0.339 0.292 0.252 0.218 0.163 0.123 0.107 0.093 0.071 0.054 0.513 0.436 0.371 0.317 0.270 0.231 0.198 0.146 0.108 0.093 0.080 0.060 0.045 0.350 0.296 0.250 0.212 0.180 0.130 0.331 0.277 0.232 0.194 0.164 0.116 0.083 0.312 0.258 0.215 0.178 0.149 0.294 0.242 0.199 0.164 0.135 0.093 0.064 0.053 0.044 0.031 0.022 0.278 0.226 0.184 0.150 0.123 0.083 0.056 0.046 0.038 0.026 0.018 0.170 0.138 0.112 0.074 0.049 0.040 0.033 0.022 0.015 0.102 0.066 0.043 0.035 0.028 0.019 0.013 0.092 0.059 0.038 0.084 0.053 0.076 0.047 0.042 0.037 15 16 0.853 0.728 17 0.844 0.714 0.623 0.605 0.587 0.570 18 0.836 0.700 0.494 0.416 19 0.828 0.686 0.475 0.396 0.095 0.081 0.069 0.051 0.038 0.070 0.060 0.043 0.031 0.061 0.051 0.037 0.026 20 0.820 0.673 0.554 0.456 0.377 0.104 0.073 21 0.811 0.660 0.538 0.439 0.359 22 0.803 0.647 0.522 0.422 0.342 23 0.795 0.634 0.507 0.406 0.326 0.262 0.211 24 0.788 0.622 0.492 0.390 0.310 0.247 0.197 0.158 0.126 0.116 25 0.780 0.610 0.478 0.375 0.295 0.233 0.184 0.146 0.030 0.024 0.016 0.010 26 0.135 0.106 0.772 0.598 0.764 0.586 27 28 0.033 0.026 0.021 0.014 0.009 0.029 0.023 0.018 0.011 0.007 0.026 0.020 0.016 0.010 0.006 0.022 0.017 0.014 0.008 0.005 0.004 29 0.464 0.361 0.281 0.220 0.172 0.450 0.347 0.268 0.207 0.161 0.125 0.098 0.757 0.574 0.437 0.333 0.255 0.196 0.150 0.116 0.090 0.069 0.321 0.243 0.185 0.141 0.107 0.082 0.063 0.308 0.231 0.174 0.131 0.099 0.075 0.057 0.672 0.453 0.307 0.208 0.142 0.097 0.067 0.046 0.032 0.022 0.372 0.228 0.141 0.087 0.054 0.034 0.021 0.013 0.749 0.563 0.424 30 0.742 0.552 0.412 0.033 0.020 0.015 0.012 0.007 40 0.001 0.011 0.005 0.004 0.003 0.001 0.009 0.003 0.001 0.001 0.001 50 0.608 Print Done Reference Future Value of $1 Periods 1% 2% 3% 4% 5% 6% 7% 12% 14% 15% 1 1.010 1.020 1.030 1.040 1.050 1.060 1.070 1.140 1.150 8% 1.080 1.166 1.260 2 1.020 1.040 1.061 1.082 1.103 1.124 1.145 1.120 1.254 1.331 1.405 1.482 1.521 1.300 1.323 3 1.030 1.061 1.093 1.125 1.158 1.191 1.225 4 1.041 1.082 1.360 1.412 1.464 1.574 1.689 1.749 1.126 1.159 1.170 1.216 1.262 1.311 1.217 1.276 1.338 1.403 5 1.051 1.104 1.469 1.539 1.611 1.762 1.925 2.011 6 1.062 1.126 1.677 1.772 1.194 1.265 1.230 1.316 1.340 1.419 1.501 1.407 1.504 1.606 7 1.072 1.149 1.828 1.993 2.144 1.974 2.195 2.313 1.949 2.211 2.502 2.660 3.059 8 1.083 1.172 1.267 1.369 1.587 1.714 1.718 1.851 1.999 2.159 2.367 2.594 1.477 1.594 9 1.094 1.195 1.305 1.423 1.551 1.689 1.838 2.172 2.358 2.476 2.853 2.773 3.252 3.518 3.106 3.707 4.046 10 1.105 1.219 1.344 1.480 1.629 1.791 1.967 11 1.116 1.243 1.384 1.539 1.710 1.898 2.105 2.332 2.580 2.853 3.479 4.226 4.652 2.252 2.518 2.813 3.138 3.896 4.818 12 1.127 1.268 1.426 1.601 1.796 2.012 5.350 13 1.138 1.294 1.469 1.665 1.886 2.133 3.452 4.363 5.492 6.153 14 1.149 1.319 1.513 1.732 1.980 2.410 2.720 3.066 3.342 3.642 3.798 4.887 6.261 2.261 2.579 2.937 3.172 7.076 15 1.161 1.346 1.558 1.801 2.079 2.397 2.759 4.177 5.474 7.138 8.137 16 1.173 1.373 1.873 2.183 2.540 2.952 3.426 3.970 4.595 6.130 8.137 9.358 1.605 1.653 1.948 17 1.184 1.400 2.292 2.693 3.159 3.700 4.328 6.866 9.276 10.76 5.054 5.560 7.690 10.58 12.38 18 1.196 1.428 1.702 2.026 2.407 2.854 3.380 3.996 4.717 1.208 1.457 1.754 2.107 2.527 3.026 3.617 19 20 1.220 1.486 1.806 4.316 5.142 6.116 8.613 12.06 14.23 4.661 5.604 6.727 9.646 13.74 16.37 2.191 2.653 3.207 3.870 21 22 23 24 25 26 1.232 1.516 1.860 2.279 2.786 3.400 4.141 5.034 6.109 7.400 10.80 15.67 18.82 1.245 1.546 1.916 2.370 2.925 3.604 4.430 5.437 6.659 8.140 12.10 17.86 21.64 1.257 1.577 1.974 2.465 3.072 3.820 4.741 5.871 7.258 8.954 13.55 20.36 24.89 1.270 1.608 2.033 2.563 3.225 4.049 5.072 6.341 7.911 9.850 15.18 23.21 28.63 1.282 1.641 2.094 2.666 3.386 4.292 5.427 6.848 8.623 10.83 17.00 26.46 32.92 2.772 3.556 4.549 5.807 7.396 9.399 11.92 19.04 30.17 37.86 2.883 3.733 4.822 6.214 7.988 10.25 13.11 21.32 34.39 43.54 2.999 3.920 5.112 6.649 8.627 11.17 14.42 23.88 39.20 3.119 4.116 5.418 7.114 9.317 12.17 15.86 26.75 44.69 3.243 4.322 5.743 7.612 10.06 13.27 17.45 7.040 10.29 14.97 21.72 31.41 45.26 1.295 1.673 27 2.157 1.308 1.707 2.221 1.321 1.741 2.288 50.07 28 29 1.335 1.776 2.357 57.58 30 1.348 1.811 2.427 29.96 50.95 66.21 40 1.489 2.208 3.262 4.801 93.05 188.9 267.9 50 1.645 2.692 4.384 7.107 11.47 18.42 29.46 46.90 74.36 117.4 289.0 700.2 1,084 Print Done 9% 10% 1.090 1.100 1.188 1.210 1.295 X Reference Present Value of Ordinary Annuity of $1 2% 4% 15% 16% Periods 1% 18% 20% 3% 5% 0.971 0.962 0.952 1 0.990 0.980 0.833 2 1.970 1.942 1.913 2.884 2.829 4 2.941 3.902 3.808 3.717 4.853 5 4.713 4.580 6 5.795 5.601 5.417 7 6.728 6.472 6.230 6.002 8 5.335 4.968 9 10 11 12 13 14 15 6% 7% 8% 9% 10% 12% 14% 0.943 0.935 0.926 0.917 0.909 0.893 0.877 0.870 0.862 0.847 1.886 1.859 1.833 1.808 1.783 1.759 1.736 1.690 1.647 1.626 1.605 1.566 1.528 2.775 2.723 2.673 2.624 2.577 2.531 2.487 2.402 2.322 2.283 2.246 2.174 2.106 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.037 2.914 2.855 2.798 2.690 2.589 4.452 4.329 4.212 4.100 3.993 3.890 3.791 3.605 3.433 3.352 3.274 3.127 2.991 5.242 5.076 4.917 4.767 4.623 4.486 4.355 4.111 3.889 3.784 3.685 3.498 3.326 5.786 5.582 5.389 5.206 5.033 4.868 4.564 4.288 4.160 4.039 3.812 3.605 7.652 7.325 7.020 6.733 6.463 6.210 5.971 5.747 5.535 4.639 4.487 4.344 4.078 3.837 8.566 8.162 7.786 7.435 7.108 6.802 6.515 6.247 5.995 5.759 5.328 4.946 4.772 4.607 4.303 4.031 9.471 8.983 8.530 8.111 7.722 7.360 7.024 6.710 6.418 6.145 5.650 5.216 5.019 4.833 4.494 4.192 10.368 9.787 9.253 8.760 8.306 7.887 7.499 7.139 6.805 6.495 5.938 5.453 5.234 5.029 4.656 4.327 11.255 10.575 9.954 9.385 8.863 8.384 7.943 7.536 7.161 6.814 6.194 5.660 5.421 5.197 4.793 4.439 12.134 11.348 10.635 9.986 9.394 8.853 8.358 7.904 7.487 7.103 6.424 5.842 5.583 5.342 4.910 4.533 13.004 12.106 11.296 10.563 9.895 9.295 8.745 8.244 7.786 7.367 6.62 6.002 5.72 5.468 5.008 4.611 13.865 12.849 11.938 11.118 10.380 9.712 9.108 8.559 8.061 7.606 6.811 6.142 5.847 5.575 5.092 4.675 10.838 10.106 9.447 8.851 8.313 7.824 6.974 6.265 5.954 5.669 5.162 4.730 11.274 10.477 9.763 9.122 8.544 8.022 7.120 6.373 6.047 5.749 5.222 4.775 10.828 10.059 9.372 8.756 8.201 7.250 6.467 6.128 5.818 5.273 4.812 11.158 10.336 9.604 8.950 8.365 7.366 6.550 6.198 5.877 5.316 4.844 11.470 10.594 9.818 9.129 8.514 7.469 6.623 6.259 5.929 5.353 4.870 18.857 17.011 15.415 14.029 12.821 11.764 10.836 10.017 9.292 8.649 7.562 6.687 6.312 5.973 5.384 4.891 19.660 17.658 15.937 14.451 13.163 12.042 11.061 10.201 9.442 8.772 7.645 6.743 6.359 6.011 5.410 4.909 20.456 18.292 16.444 14.857 13.489 12.303 11.272 10.371 9.580 8.883 7.718 6.792 6.399 6.044 5.432 4.925 21.243 18.914 16.936 15.247 13.799 12.550 11.469 10.529 9.707 8.985 7.784 6.835 6.434 6.073 5.451 4.937 22.023 19.523 17.413 15.622 14.094 12.783 11.654 10.675 9.823 9.077 7.843 6.873 6.464 6.097 5.467 4.948 22.795 20.121 17.877 15.983 14.375 13.003 11.826 10.810 9.929 9.161 7.896 6.906 6.491 6.118 5.480 4.956 23.560 20.707 18.327 16.330 14.643 13.211 11.987 10.935 10.027 9.237 7.943 6.935 6.514 6.136 5.492 4.964 24.316 21.281 18.764 16.663 14.898 13.406 12.137 11.051 10.116 9.307 7.984 6.961 6.534 6.152 5.502 4.970 25.066 21.844 19.188 16.984 15.141 13.591 12.278 11.158 10.198 9.370 8.022 6.983 6.551 6.166 5.510 4.975 30 25.808 22.396 19.600 17.292 15.372 13.765 12.409 11.258 10.274 9.427 8.055 7.003 6.566 6.177 5.517 4.979 40 32.835 27.355 23.115 19.793 17.159 15.046 13.332 11.925 10.757 9.779 8.244 7.105 6.642 6.233 5.548 4.997 39.196 31.424 25.730 21.482 18.256 15.762 13.801 12.233 10.962 9.915 8.304 7.133 6.661 6.246 5.554 4.999 16 17 18 14.718 13.578 12.561 11.652 15.562 14.292 13.166 12.166 16.398 14.992 13.754 12.659 11.690 17.226 15.678 14.324 13.134 12.085 18.046 16.351 14.877 13.590 12.462 19 20 21 22 23 24 25 26 27 28 29 50 Print Done Reference Future Value of Ordinary Annuity of $1 Periods 1% 2% 3% 14% 15% 1 8% 9% 1.000 1.000 1.000 2.080 2.090 2.100 1.000 1.000 1.000 2.010 2.020 2.030 1.000 1.000 2 1.000 2.120 2.140 2.150 3.473 3 4 4.993 5 4% 5% 6% 7% 1.000 1.000 1.000 1.000 2.040 2.050 2.060 2.070 3.030 3.060 3.091 3.122 3.153 3.184 3.215 3.246 3.278 3.310 3.374 3.440 4.060 4.122 4.184 4.246 4.310 4.375 4.440 4.506 4.573 4.641 4.779 4.921 5.101 5.204 5.309 5.416 5.526 5.637 5.751 5.867 5.985 6.105 6.353 6.610 6.152 6.308 6.468 6.633 6.802 6.975 7.153 7.336 7.523 7.716 8.115 7.214 7.434 7.662 7.898 8.142 8.394 8.654 8.923 9.200 9.487 8.892 9.214 9.549 9.897 10.260 10.64 11.03 11.44 11.49 11.98 12.49 13.02 13.58 6.742 6 8.536 8.754 10.09 10.73 11.07 7 8 8.286 8.583 9 9.369 9.755 10.16 10.58 11.03 12.30 13.23 13.73 14.78 16.09 15.19 15.94 17.55 16.79 10 10.46 10.95 11.46 12.01 12.58 13.18 13.82 14.49 19.34 20.30 11 11.57 12.17 12.81 13.49 14.21 14.97 15.78 20.65 23.04 24.35 12 12.68 13.41 14.19 15.03 15.92 16.87 17.89 16.65 17.56 18.53 18.98 20.14 21.38 24.13 27.27 29.00 21.50 22.95 24.52 28.03 32.09 34.35 24.21 26.02 27.98 32.39 37.58 40.50 13 13.81 14.68 15.62 16.63 17.71 18.88 20.14 14 14.95 15.97 17.09 18.29 19.60 21.02 22.55 15 16.10 17.29 18.60 20.02 21.58 23.28 25.13 27.15 29.36 31.77 37.28 43.84 47.58 16 17.26 18.64 20.16 21.82 23.66 25.67 27.89 35.95 42.75 50.98 55.72 30.32 33.00 33.75 36.97 17 18.43 20.01 21.76 23.70 25.84 28.21 30.84 18 23.41 25.65 28.13 30.91 34.00 37.45 41.30 45.60 19.61 21.41 20.81 22.84 19 25.12 27.67 30.54 33.76 37.38 41.45 45.76 20 22.02 24.30 26.87 29.78 33.07 36.79 41.00 21 40.54 48.88 59.12 65.08 55.75 68.39 75.84 46.02 51.16 63.44 78.97 88.21 51.16 57.28 72.05 91.02 102.4 23.24 25.78 28.68 31.97 35.72 39.99 44.87 50.42 56.76 64.00 81.70 104.8 118.8 24.47 27.30 30.54 34.25 38.51 43.39 49.01 55.46 62.87 71.40 92.50 120.4 137.6 25.72 28.85 32.45 36.62 41.43 47.00 53.44 60.89 69.53 79.54 104.6 138.3 159.3 26.97 30.42 34.43 39.08 44.50 50.82 58.18 66.76 76.79 88.50 118.2 158.7 28.24 32.03 36.46 41.65 47.73 63.25 73.11 84.70 22 23 24 184.2 25 54.86 98.35 133.3 181.9 212.8 26 29.53 33.67 38.55 44.31 51.11 59.16 109.2 150.3 208.3 27 30.82 35.34 40.71 47.08 28 29 32.13 37.05 42.93 49.97 33.45 38.79 45.22 52.97 34.78 40.57 47.58 56.08 95.03 68.68 79.95 93.32 245.7 54.67 63.71 74.48 87.35 102.7 121.1 169.4 238.5 283.6 58.40 68.53 80.70 95.34 113.0 134.2 190.7 272.9 327.1 62.32 73.64 87.35 104.0 124.1 148.6 214.6 312.1 377.2 66.44 79.06 94.46 113.3 136.3 164.5 241.3 356.8 434.7 120.8 154.8 199.6 259.1 337.9 442.6 767.1 1,342 1,779 209.3 290.3 406.5 573.8 815.1 1,164 2,400 4,995 7,218 30 40 48.89 60.40 75.40 50 64.46 84.58 112.8 152.7 Print Done I 10% 12%
Expert Answer:
Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
Posted Date:
Students also viewed these accounting questions
-
A mutual fund company has 6 funds that invest in the U.S. market and 4 that invest in international markets. A customer wants to invest in two U.S. funds and 2 international funds. a. How many...
-
How much interest will be due at maturity for each of the following interest-bearing notes? Principal Months to Maturity a. $10,000 b. 42,00 18,000 37,000 Annual Interest Rate 12% 14 13 C. 4 d.
-
After receiving an inheritance, Sandra Yaworski decided to invest her newly acquired funds in real estate. In 20X1, she purchased the following properties: Each of the properties is a residential...
-
The electric fields at point P due to the positive charges q 1 and q 2 are shown in Fig. Q21.22. Does the fact that they cross each other violate the statement in Section 21.6 that electric field...
-
Refer to Case Study 2.2, Flawed Surveys in the Courtroom. Discuss the study conducted by Brooks Shoe Manufacturing Company in the context of the seven pitfalls, listed in Section 3.2 that can be...
-
Verify the characteristic equation given in Table 10.4 for a pinned-free beam. TABLE 10.4 Natural frequencies and mode shapes for beams Characteristic Five Lowest Natural Frequencies Kinetic Energy...
-
Eco-efficiency provides necessary but not sufficient indicators of environmental performance. What is environmental performance? Provide an example of another type of information that is important...
-
Presented below are the financial statements of Rajesh Company Ltd. RAJESH COMPANY LTD. Income Statement For the Year Ended December 31, 2017 Sales...
-
State the vertical asymptotes, if any exist for the function. T f(x) = x+81
-
Data for Minnie Hooper Company are presented in P13-9B. Further analysis reveals that accounts payable pertain to merchandise creditors. Instructions Prepare a statement of cash flows for Minnie...
-
ez The singular points of f (z) that lies inside Iz| =; are z(z2-1) a. 0,-1 1, -1 O c. 0,1 d. 0.
-
They would like to get life insurance to pay the taxes and probate fees on their estate. Assuming they both die in a boating accident at age 80 and that they were only withdrawing what they were...
-
Two of the 'workhorses' of capital budgeting are the Net Present Value (NPV) and the Internal Rate of Return (IRR) calculation. In practice, we rely on the NPV calculation to make our decisions;...
-
Since the information is supposed to play a vital role in responding to the smooth operations of the financial structure, explain briefly with the appropriate model(s) and highlight what it is...
-
Six years ago, Miguel invested $3,500. Today his investment is worth $5659. The internal rate of return on this investment is A) -7.69%. B) error 5. C) 8.34%. D) 10.28%. Please show formula and...
-
You save $100 and earn 7% (annual) interest. How much will you have total after two years assuming you reinvest principal and interest
-
BONUS (5 points) You plan to retire at 65 and want an annuity that will pay you $3700 a month for 30 years from an account that pays 3.75% interest. How much needs to be in your account?
-
A superior criticized a sales manager for selling high-revenue, low-profit items instead of lower-revenue but higher-profit items. The sales manager responded, My income is based on commissions that...
-
On November 20, 2011, Green Bay Electronics agreed to manufacture and supply 750 electronic control units used by Wausau Heating Systems in large commercial and industrial installments. On that date,...
-
What is the conceptual framework of accounting?
-
Graphic Design Inc. purchased a state-of-the-art laser engraving machine for $94,500. Parker determined that the system had an expected life of 10 years (or 2,000,000 items engraved) and an expected...
-
True or False. The motion diminishes to zero in both underdamped and overdamped cases.
-
True or False. The loss coefficient denotes the energy dissipated per radian per unit strain energy.
-
True or False. The complex stiffness can be used to find the damping force in a system with hysteresis damping.
Study smarter with the SolutionInn App