1.

Complete the following using present value. (Please use the following provided Table.) (Do not round intermediate calculations. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.)

Amount desired at end of period	Length of time	Rate	Compounded	On PV Table 12.3		PV factor used	PV of amount desired at end of period
				Period used	Rate used
$20,600	15 years	9%	Annually		%		$

2.

Find the future value. (Use the Table12.1.) (Do not round intermediate calculations. Round the "FV factor" to 4 decimal places and final answer to the nearest cent.)

Present Value	Length of time	Rate	Compounded	On FV Table		FV factor used	Future value
				Period used	Rate used
$12,988.90	5 years	8%	Quarterly	20	2%		$