Each of the four independent situations below describes a sales-type lease in which annual lease payments...
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Each of the four independent situations below describes a sales-type lease in which annual lease payments of $165,000 are payable at the beginning of each year. Each is a finance lease for the lessee. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Lease term (years) Lessor's and lessee's interest rate Residual value: Estimated fair value Guaranteed by lessee. A. The lessor's: 1. Total lease payments 2. Gross investment in the lease 3. Net investment in the lease B. The lessee's: 4. Total lease payments 5. Right-of-use asset 6. Lease liability 1 $ 990,000 990,000 790,480✔ 1 6 10% 2 > Answer is complete but not entirely correct. Determine the following amounts at the beginning of the lease. Note: Round your intermediate and final answers to the nearest whole dollar amount. Situation $ 990,000 1,053,000 ✓ 791,706✓✔ 990,000 990,000✔ 790,480✔ 759,788 790,480✔ 759,788 2 3 $ 63,000 $ 1,155,000 Situation 6 12% 1,164,300 868,011 X 1,155,000 863,039 863,039✔ 3 4 $ 9,300 $ 9,300 7 11% $ 1,155,000 1,218,000 X 896,721 X 1,155,000 X 863,039 X 863,039 x 4 7 11% $ 63,000 $ 73,000 Table 1 Future value of $1 FV = $1(1+i)" n/i 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 25 30 40 1.0% 1.01000 1.02010 1.03030 1.04060 1.05101 1.06152 1.07214 1.08286 1.09369 1.10462 1.11567 1.12683 1.13809 1.14947 1.16097 1.17258 1.18430 1.19615 1.20811 1.22019 1.23239 1.28243 1.34785 1.48886 1.5% 1.01500 1.03022 1.04568 1.06136 1.07728 1.09344 1.10984 1.12649 1.14339 1.16054 1.17795 1.19562 1.21355 1.23176 1.25023 1.26899 1.28802 1.30734 1.32695 1.34686 1.36706 1.45095 1.56308 1.81402 2.0% 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 1.64061 1.81136 2.20804 2.5% 1.02500 1.05063 1.07689 1.10381 1.13141 1.15969 1.18869 1.21840 1.24886 1.28008 131209 1.34489 1.37851 1.41297 1.44830 1.48451 1.52162 1.55966 1.59865 1.63862 1.67958 1.85394 2.09757 2.68506 3.0% 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 2.09378 2.42726 3.26204 3.5% 1.03500 1.07123 1.10872 1.14752 1.18769 1.22926 1.27228 1.31681 1.36290 1.41060 1.45997 1.51107 1.56396 1.61869 1.67535 1.73399 1.79468 1.85749 1.92250 1.98979 2.05943 2.36324 2.80679 3.95926 4.0% 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 2.66584 3.24340 4.80102 4.5% 1.04500 1.09203 1.14117 1.19252 1.24618 1.30226 1.36086 1.42210 1.48610 1.55297 1.62285 1.69588 1.77220 1.85194 1.93528 2.02237 2.11338 2.20848 2.30786 2.41171 2.52024 3.00543 3.74532 5.81636 5.0% 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 3.38635 4.32194 7.03999 5.5% 1.05500 1.11303 1.17424 1.23882 1.30696 1.37884 1.45468 1.53469 1.61909 1.70814 1.80209 1.90121 2.00577 2.11609 2.23248 2.35526 2.48480 2.62147 2.76565 2.91776 3.07823 3.81339 4.98395 8.51331 12.0% 1.12000 1.25440 1.40493 1.57352 1.76234 1.97382 2.21068 2.47596 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 1.06000 1.07000 1.08000 1.09000 1.10000 1.11000 1.12360 1.14490 1.16640 1.18810 1.21000 1.23210 1.19102 1.22504 1.25971 1.29503 1.33100 1.36763 1.26248 1.31080 1.36049 1.41158 1.46410 1.51807 1.33823 1.40255 1.46933 1.53862 1.61051 1.68506 1.41852 1.50073 1.58687 1.67710 1.77156 1.87041 1.50363 1.60578 1.71382 1.82804 1.94872 2.07616 1.59385 1.71819 1.85093 1.99256 2.14359 2.30454 1.68948 1.83846 1.99900 2.17189 2.35795 2.55804 2.77308 1.79085 1.96715 2.15892 2.36736 2.59374 2.83942 3.10585 1.89830 2.10485 2.33164 2.58043 2.85312 3.15176 3.47855 2.01220 2.25219 2.51817 2.81266 3.13843 3.49845 3.89598 2.13293 2.40985 2.71962 3.06580 3.45227 3.88328 4.36349 2.26090 2.57853 2.93719 3.34173 3.79750 4.31044 4.88711 2.39656 2.75903 3.17217 3.64248 4.17725 4.78459 5.47357 2.54035 2.95216 3.42594 3.97031 4.59497 5.31089 6.13039 2.69277 3.15882 3.70002 4.32763 5.05447 5.89509 6.86604 2.85434 3.37993 3.99602 4.71712 5.55992 6.54355 7.68997 3.02560 3.61653 4.31570 5.14166 6.11591 7.26334 8.61276 3.20714 3.86968 4.66096 5.60441 6.72750 8.06231 9.64629 3.39956 4.14056 5.03383 6.10881 7.40025 8.94917 10.80385 4.29187 5.42743 6.84848 8.62308 10.83471 13.58546 17.00006 5.74349 7.61226 10.06266 13.26768 17.44940 22.89230 29.95992 10.28572 14.97446 21.72452 31.40942 45.25926 65.00087 93.05097 20.0% 1.20000 1.44000 1.72800 2.07360 2.48832 2.98598 3.58318 4.29982 5.15978 6.19174 7.43008 8.91610 10.69932 12.83918 15.40702 18.48843 22.18611 26.62333 31.94800 38.33760 46.00512 95.39622 237.37631 1469.77160 TABLE 2 Present value of $1 PV = $1/(1 + i)" n/i 1.0% 1 0.99010 2 0.98030 3 0.97059 0.96098 0.95147 0.94205 0.93272 0.92348 0.91434 0.90529 0.89632 0.88745 0.87866 0.86996 0.86135 0.85282 0.84438 0.83602 0.82774 0.81954 0.81143 0.78757 0.77977 0.75684 0.74934 0.74192 0.73458 0.67165 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 24 25 28 29 30 31 40 1.5% 0.98522 0.97066 0.95632 0.94218 0.92826 0.91454 0.90103 0.88771 0.87459 0.86167 0.84893 0.83639 0.82403 0.81185 0.79985 0.78803 0.77639 0.76491 0.75361 0.74247 0.73150 0.69954 0.68921 0.65910 0.64936 0.63976 0.63031 0.55126 2.0% 0.98039 0.96117 0.94232 0.92385 0.90573 0.88797 0.87056 0.85349 0.83676 0.82035 0.80426 0.78849 0.77303 0.75788 0.74301 0.72845 0.71416 0.70016 0.68643 0.67297 0.65978 0.62172 0.60953 0.57437 0.56311 0.55207 0.54125 0.45289 2.5% 0.97561 0.95181 0.92860 0.90595 0.88385 0.86230 0.84127 0.82075 0.80073 0.78120 0.76214 0.74356 0.72542 0.70773 0.69047 0.67362 0.65720 0.64117 0.62553 0.61027 0.59539 0.55288 0.53939 0.50088 0.48866 0.47674 0.46511 0.37243 3.0% 0.97087 0.94260 0.91514 0.88849 0.86261 0.83748 0.81309 0.78941 0.76642 0.74409 0.72242 0.70138 0.68095 0.66112 0.64186 0.62317 0.60502 0.58739 0.57029 0.55368 0.53755 0.49193 0.47761 0.43708 0.42435 0.41199 0.39999 0.30656 3.5% 0.96618 0.93351 0.90194 0.87144 0.84197 0.81350 0.78599 0.75941 0.73373 0.70892 0.68495 0.66178 0.63940 0.61778 0.59689 0.57671 0.55720 0.53836 0.52016 0.50257 0.48557 0.43796 0.42315 0.38165 0.36875 0.35628 0.34423 0.25257 4.0% 0.96154 0.92456 0.88900 0.85480 0.82193 0.79031 0.75992 0.73069 0.70259 0.67556 0.64958 0.62460 0.60057 0.57748 0.55526 0.53391 0.51337 0.49363 0.47464 0.45639 0.43883 0.39012 0.37512 0.33348 0.32065 0.30832 0.29646 0.20829 4.5% 0.95694 0.91573 0.87630 0.83856 0.80245 0.76790 0.73483 0.70319 0.67290 0.64393 0.61620 0.58966 0.56427 0.53997 0.51672 0.49447 0.47318 0.45280 0.43330 0.41464 0.39679 0.34770 0.33273 0.29157 0.27902 0.26700 0.25550 0.17193 5.0% 0.95238 0.90703 0.86384 0.82270 0.78353 0.74622 0.71068 0.67684 0.64461 0.61391 0.58468 0.55684 0.53032 0.50507 0.48102 0.45811 0.43630 0.41552 0.39573 0.37689 0.35894 0.31007 0.29530 0.25509 0.24295 0.23138 0.22036 0.14205 5.5% 0.94787 0.89845 0.85161 0.80722 0.76513 0.72525 0.68744 0.65160 0.61763 0.58543 0.55491 0.52598 0.49856 0.47257 0.44793 0.42458 0.40245 0.38147 0.36158 0.34273 0.32486 0.27666 0.26223 0.22332 0.21168 0.20064 0.19018 0.11746 6.0% 0.94340 0.89000 0.83962 0.79209 0.74726 0.70496 0.66506 0.62741 0.59190 0.55839 0.52679 0.49697 0.46884 0.44230 0.41727 0.39365 0.37136 0.35034 0.33051 0.31180 0.29416 0.24698 0.23300 0.19563 0.18456 0.17411 0.16425 0.09722 7.0% 0.93458 0.87344 0.81630 0.76290 0.71299 0.66634 0.62275 0.58201 0.54393 0.50835 0.47509 0.44401 0.41496 0.38782 0.36245 0.33873 0.31657 0.29586 0.27651 0.25842 0.24151 0.19715 0.18425 0.15040 0.14056 0.13137 0.12277 0.06678 8.0% 0.92593 0.85734 0.79383 0.73503 0.68058 0.63017 0.58349 0.54027 0.50025 0.46319 0.42888 0.39711 0.36770 0.34046 0.31524 0.29189 0.27027 0.25025 0.23171 0.21455 0.19866 0.15770 0.14602 0.11591 0.10733 0.09938 0.09202 0.04603 9.0% 0.91743 0.84168 0.77218 0.70843 0.64993 0.59627 0.54703 0.50187 0.46043 0.42241 0.38753 0.35553 0.32618 0.29925 0.27454 0.25187 0.23107 0.21199 0.19449 0.17843 0.16370 0.12640 0.11597 0.08955 0.08215 0.07537 0.06915 0.03184 10.0% 0.90909 0.82645 0.75131 0.68301 0.62092 0.56447 0.51316 0.46651 0.42410 0.38554 0.35049 0.31863 0.28966 0.26333 0.23939 0.21763 0.19784 0.17986 0.16351 0.14864 0.13513 0.10153 0.09230 0.06934 0.06304 0.05731 0.05210 0.02209 11.0% 0.90090 0.81162 0.73119 0.65873 0.59345 0.53464 0.48166 0.43393 0.39092 0.35218 0.31728 0.28584 0.25751 0.23199 0.20900 0.18829 0.16963 0.15282 0.13768 0.12403 0.11174 0.08170 0.07361 0.05382 0.04849 0.04368 0.03935 0.01538 12.0% 0.89286 0.79719 0.71178 0.63552 0.56743 0.50663 0.45235 0.40388 0.36061 0.32197 0.28748 0.25668 0.22917 0.20462 0.18270 0.16312 0.14564 0.13004 0.11611 0.10367 0.09256 0.06588 0.05882 0.04187 0.03738 0.03338 0.02980 0.01075 20.0% 0.83333 0.69444 0.57870 0.48225 0.40188 0.33490 0.27908 0.23257 0.19381 0.16151 0.13459 0.11216 0.09346 0.07789 0.06491 0.05409 0.04507 0.03756 0.03130 0.02608 0.02174 0.01258 0.01048 0.00607 0.00506 0.00421 0.00351 0.00068 Table 3 Future Value of an Ordinary Annuity of $1 FVA= ((1+i)" - 1)/i n/i 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 30 40 1.0% 1.0000 2.0100 3.0301 4.0604 5.1010 6.1520 7.2135 8.2857 9.3685 10.4622 11.5668 12.6825 13.8093 14.9474 16.0969 17.2579 18.4304 19.6147 20.8109 22.0190 23.2392 34.7849 48.8864 1.5% 1.0000 2.0150 3.0452 4.0909 5.1523 6.2296 7.3230 8.4328 9.5593 2.0% 1.0000 2.0200 3.0604 4.1216 5.2040 6.3081 7.4343 8.5830 9.7546 10.7027 10.9497 11.8633 12.1687 13.0412 13.4121 14.2368 14.6803 15.4504 16.6821 17.9324 19.2014 20.4894 21.7967 23.1237 24.4705 37.5387 54.2679 15.9739 17.2934 18.6393 20.0121 21.4123 22.8406 24.2974 25.7833 40.5681 60.4020 2.5% 1.0000 2.0250 3.0756 4.1525 5.2563 6.3877 7.5474 8.7361 9.9545 11.2034 12.4835 13.7956 15.1404 16.5190 17.9319 19.3802 20.8647 22.3863 23.9460 25.5447 27.1833 43.9027 67.4026 3.0% 1.0000 2.0300 3.0909 4.1836 5.3091 6.4684 7.6625 8.8923 10.1591 11.4639 12.8078 14.1920 15.6178 17.0863 18.5989 20.1569 21.7616 23.4144 25.1169 26.8704 28.6765 47.5754 75.4013 3.5% 1.0000 2.0350 3.1062 4.2149 5.3625 6.5502 7.7794 9.0517 10.3685 11.7314 13.1420 14.6020 16.1130 17.6770 19.2957 20.9710 22.7050 24.4997 26.3572 28.2797 30.2695 51.6227 84.5503 4.0% 1.0000 2.0400 3.1216 4.2465 5.4163 6.6330 7.8983 4.5% 1.0000 2.0450 3.1370 4.2782 5.4707 6.7169 8.0192 9.2142 5.0% 5.5% 1.0000 1.0000 2.0500 2.0550 3.1525 3.1680 4.3101 4.3423 5.5256 5.5811 6.8019 6.8881 8.1420 8.2669 9.3800 9.5491 9.7216 10.5828 10.8021 11.0266 11.2563 12.0061 12.2882 12.5779 12.8754 13.4864 13.8412 14.2068 14.5835 15.0258 15.4640 15.9171 16.3856 16.6268 17.1599 17.7130 18.2868 18.2919 18.9321 19.5986 20.2926 20.0236 20.7841 21.5786 22.4087 21.8245 22.7193 23.6575 24.6411 23.6975 24.7417 25.8404 26.9964 25.6454 26.8551 28.1324 29.4812 27.6712 29.0636 30.5390 32.1027 29.7781 31.3714 33.0660 34.8683 31.9692 33.7831 35.7193 56.0849 61.0071 66.4388 95.0255 107.0303 120.7998 136.6056 154.7620 37.7861 72.4355 6.0% 1.0000 2.0600 3.1836 4.3746 5.6371 6.9753 8.3938 9.8975 11.4913 13.1808 14.9716 16.8699 18.8821 21.0151 23.2760 25.6725 28.2129 30.9057 33.7600 36.7856 39.9927 79.0582 7.0% 1.0000 2.0700 3.2149 4.4399 5.7507 7.1533 8.6540 10.2598 11.9780 13.8164 15.7836 17.8885 20.1406 22.5505 25.1290 27.8881 30.8402 33.9990 37.3790 40.9955 44.8652 94.4608 199.6351 8.0% 1.0000 2.0800 3.2464 4.5061 5.8666 7.3359 8.9228 10.6366 12.4876 14.4866 16.6455 18.9771 21.4953 24.2149 27.1521 30.3243 33.7502 37.4502 41.4463 45.7620 50.4229 113.2832 259.0565 9.0% 1.0000 2.0900 3.2781 4.5731 5.9847 7.5233 9.2004 11.0285 13.0210 15.1929 17.5603 20.1407 22.9534 26.0192 29.3609 33.0034 36.9737 41.3013 46.0185 51.1601 56.7645 136.3075 337.8824 10.0% 1.0000 2.1000 3.3100 4.6410 6.1051 7.7156 9.4872 11.4359 13.5795 15.9374 18.5312 21.3843 24.5227 27.9750 31.7725 35.9497 40.5447 45.5992 51.1591 57.2750 64.0025 164.4940 442.5926 11.0% 1.0000 2.1100 3.3421 4.7097 6.2278 7.9129 9.7833 11.8594 14.1640 16.7220 19.5614 22.7132 26.2116 30.0949 34.4054 39.1899 44.5008 50.3959 56.9395 64.2028 72.2651 199.0209 581.8261 12.0% 1.0000 2.1200 3.3744 4.7793 6.3528 8.1152 10.0890 12.2997 14.7757 17.5487 20.6546 24.1331 28.0291 32.3926 37.2797 42.7533 48.8837 55.7497 63.4397 72.0524 81.6987 241.3327 767.0914 20.0% 1.0000 2.2000 3.6400 5.3680 7.4416 9.9299 12.9159 16.4991 20.7989 25.9587 32.1504 39.5805 48.4966 59.1959 72.0351 87.4421 105.9306 128.1167 154.7400 186.6880 225.0256 1181.8816 7343.8578 Table 4 Present Value of an Ordinary Annuity of $1 PVA = (1 - (1/(1 + i)"))/i 1.0% 0.99010 1.97040 2.94099 3.90197 4.85343 5.79548 6.72819 7.65168 8.56602 9.47130 10.36763 11.25508 12.13374 13.00370 13.86505 14.71787 15.56225 16.39827 17.22601 18.04555 18.85698 22.02316 25.80771 32.83469 n/i 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 25 30 40 1.5% 0.98522 1.95588 2.91220 3.85438 4.78264 5.69719 6.59821 7.48593 8.36052 9.22218 10.07112 10.90751 11.73153 12.54338 13.34323 14.13126 14.90765 15.67256 16.42617 17.16864 17.90014 20.71961 24.01584 29.91585 2.0% 0.98039 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 19 52346 22.39646 27.35548 2.5% 0.97561 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 18.42438 20.93029 25.10278 3.0% 0.97087 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 17.41315 19.60044 23.11477 3.5% 0.96618 1.89969 2.80164 3.67308 4.51505 5.32855 6.11454 6.87396 7.60769 8.31661 9.00155 9.66333 10.30274 10.92052 11.51741 12.09412 12.65132 13.18968 13.70984 14.21240 14.69797 16.48151 18.39205 21.35507 4.0% 0.96154 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 15.62208 17.29203 19.79277 4.5% 0.95694 1.87267 2.74896 3.58753 4.38998 5.15787 5.89270 6.59589 7.26879 7.91272 8.52892 9.11858 9.68285 10.22283 10.73955 11.23402 11.70719 12.15999 12.59329 13.00794 13.40472 14.82821 16.28889 18.40158 5.0% 0.95238 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 14.09394 15.37245 17.15909 5.5% 0.94787 1.84632 2.69793 3.50515 4.27028 4.99553 5.68297 6.33457 6.95220 7.53763 8.09254 8.61852 9.11708 9.58965 10.03758 10.46216 10.86461 11.24607 11.60765 11.95038 12.27524 13.41393 14.53375 16.04612 6.0% 0.94340 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 12.78336 13.76483 15.04630 7.0% 0.93458 1.80802 2.62432 3.38721 4.10020 4.76654 5.38929 5.97130 6.51523 7.02358 7.49867 7.94269 8.35765 8.74547 9.10791 9.44665 9.76322 10.05909 10.33560 10.59401 10.83553 11.65358 12.40904 13.33171 8.0% 0.92593 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 10.67478 11.25778 11.92461 9.0% 0.91743 1.75911 2.53129 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 8.95011 9.12855 9.29224 9.82258 10.27365 10.75736 10.0% 0.90909 1.73554 2.48685 3.16987 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 9.07704 9.42691 9.77905 11.0% 0.90090 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 8.42174 8.69379 8.95105 12.0% 0.89286 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 7.84314 8.05518 8.24378 20.0% 0.83333 1.52778 2.10648 2.58873 2.99061 3.32551 3.60459 3.83716 4.03097 4.19247 4.32706 4.43922 4.53268 4.61057 4.67547 4.72956 4.77463 4.81219 4.84350 4.86958 4.89132 4.94759 4.97894 4.99660 Table 5 Future Value of an Annuity Due of $1 FVAD = (((1+i)" - 1/i) × (1 + i)) n/i 1.0% 1.5% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 25 30 40 2.0% 3.0% 2.5% 1.0250 1.0100 1.0200 1.0300 3.5% 1.0350 2.1062 4.0% 1.0400 2.1216 2.0301 2.0604 2.0756 2.0909 3.0604 3.1216 3.1525 3.1836 3.2149 4.3625 4.1010 4.2040 4.2563 4.3091 5.1520 5.3081 5.3877 5.4684 5.5502 6.2135 6.4343 6.5474 6.6625 6.7794 8.0517 7.2857 7.5830 7.7361 7.8923 8.3685 8.7546 8.9545 9.1591 9.3685 10.7314 9.4622 9.9497 10.2034 3.2465 44163 5.6330 6.8983 8.2142 9.5828 11.0061 12.4864 14.0258 15.6268 17.2919 19.0236 20.8245 10.5668 10.8633 11.1687 12.0412 13.1920 13.6020 14.6178 15.1130 16.0863 16.6770 18.2957 17.4304 22.6975 104639 11.4835 11.8078 12.1420 11.6825 12.4121 12.7956 12.8093 13.2368 13.6803 14.1404 13.9474 14.4504 14.9739 15.5190 15.0969 15.6821 16.2934 16.9319 17.5989 16.2579 16.9324 17.6393 18.3802 19.1569 18.2014 19.0121 19.8647 20.7616 18.6147 194894 20.4123 21.3863 22.4144 19.8109 20.7967 21.8406 22.9460 21.0190 22.1237 23.2974 24.5447 22.2392 23.4705 24.7833 26.1833 23.4716 24.8376 26.2990 27.8629 29.5368 31.3289 33.2480 28.5256 30.5140 32.6709 35.0117 37.5530 40.3131 43.3117 35.1327 38.1018 41.3794 45.0003 49.0027 53.4295 58.3283 49.3752 55.0819 61.6100 69.0876 77.6633 87.5095 98.8265 19.9710 21.7050 23.4997 25.3572 24.6454 26.6712 24.1169 25.8704 27.6765 27.2797 28.7781 29.2695 30.9692 1.0150 2.0452 3.0909 4.1523 5.2296 6.3230 7.4328 8.5593 9.7027 4.5% 1.0450 2.1370 3.2782 4.4707 5.7169 7.0192 8.3800 9.8021 11.2882 12.8412 14.4640 16.1599 17.9321 19.7841 21.7193 23.7417 25.8551 28.0636 30.3714 32.7831 35.3034 46.5706 63.7524 111.8467 5.0% 1.0500 2.1525 3.3101 4.5256 5.8019 7.1420 8.5491 10.0266 11.5779 13.2068 14.9171 16.7130 18.5986 20.5786 22.6575 24.8404 27.1324 29.5390 32.0660 34.7193 37.5052 50.1135 69.7608 126.8398 5.5% 1.0550 2.1680 3.3423 4.5811 5 8881 7.2669 8.7216 10.2563 11.8754 13.5835 15.3856 17.2868 19.2926 21.4087 23.6411 25.9964 28.4812 31.1027 33.8683 36.7861 39.8643 53.9660 76.4194 144.1189 6.0% 1.0600 2.1836 3.3746 4.6371 5.9753 7.3938 8.8975 10.4913 12.1808 13.9716 15.8699 17.8821 20.0151 22.2760 24.6725 27.2129 29.9057 32.7600 35.7856 38.9927 42.3923 58.1564 83.8017 164.0477 7.0% 1.0700 2.2149 3.4399 4.7507 6.1533 7.6540 9.2598 10.9780 12.8164 14.7836 16.8885 19.1406 21.5505 24.1290 26.8881 29.8402 32.9990 36.3790 39.9955 43.8652 48.0057 67.6765 101.0730 213.6096 8.0% 1.0800 2.2464 3.5061 4.8666 6.3359 7.9228 9.6366 114876 13.4866 15.6455 17.9771 20.4953 23.2149 26.1521 29.3243 32.7502 36.4502 40.4463 44.7620 49.4229 54.4568 78.9544 122.3459 279.7810 9.0% 1.0900 2.2781 3.5731 4.9847 6.5233 8.2004 10.0285 12.0210 14.1929 16.5603 19.1407 21.9534 25.0192 28.3609 32.0034 35.9737 40.3013 45.0185 50.1601 55.7645 61.8733 92.3240 148.5752 368.2919 10.0% 1.1000 2.3100 3.6410 5.1051 6.7156 8.4872 10.4359 12.5795 14.9374 17.5312 20.3843 23.5227 26.9750 30.7725 34.9497 39.5447 44.5992 50.1591 56.2750 63.0025 70.4027 108.1818 180.9434 486.8518 11.0% 1.1100 2.3421 3.7097 5.2278 6.9129 8.7833 10.8594 13.1640 15.7220 18.5614 21.7132 25.2116 29.0949 33.4054 38.1899 43.5008 49.3959 55.9395 63.2028 71.2651 80.2143 126.9988 220.9132 645.8269 12.0% 1.1200 2.3744 3.7793 5.3528 7.1152 9.0890 11.2997 13.7757 16.5487 19.6546 23.1331 27.0291 31.3926 36.2797 41.7533 47.8837 54.7497 62.4397 71.0524 80.6987 91.5026 149.3339 270.2926 859.1424 20.0% 1.2000 2.6400 4.3680 6.4416 8.9299 11.9159 154991 19.7989 24.9587 31.1504 38.5805 474966 58.1959 71.0351 86.4421 104.9306 127.1167 153.7400 185.6880 224.0256 270.0307 566.3773 1418.2579 8812.6294 Table 6 Present Value of an Annuity Due of $1 PVAD = ((1 - (1/(1 + i)n))/i) x (1 + i) 1.0% 1.00000 1.99010 1.5% 1.00000 1.98522 2.95588 2.0% 1.00000 1.98039 2.5% 1.00000 1.97561 2.97040 2.94156 3.94099 4.90197 3.88388 4.80773 5.71346 6.60143 2.92742 3.85602 4.76197 5.64583 6.50813 3.0% 1.00000 1.97087 2.91347 3.82861 4.71710 5.57971 6.41719 7.23028 8.01969 8.78611 4.5% 1.00000 1.95694 2.87267 3.74896 4.58753 5.38998 6.15787 6.89270 7.59589 8.26879 5.5% 1.00000 1.94787 2.84632 3.69793 4.50515 5.27028 5.99553 6.68297 7.33457 7.95220 8.53763 5.85343 6.79548 7.72819 7.47199 7.34939 8.65168 8.32548 8.17014 8.97087 9.56602 10.47130 10.22218 9.75206 3.5% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.96618 1.96154 1.95238 1.94340 1.93458 1.92593 1.91743 2.89969 2.88609 2.85941 2.83339 2.80802 2.78326 2.75911 3.80164 3.77509 3.72325 3.67301 3.62432 3.57710 3.53129 4.67308 4.62990 4.54595 4.46511 4.38721 4.31213 4.23972 5.51505 5.45182 5.32948 5.21236 5.10020 4.99271 4.88965 6.32855 6.24214 6.07569 5.91732 5.76654 5.62288 5.48592 7.11454 7.00205 6.78637 6.58238 6.38929 6 20637 6.03295 7.87396 7.73274 7.46321 7.20979 6.97130 6.74664 6.53482 9.16224 8.60769 8.43533 8.10782 7.80169 7.51523 7.24689 6.99525 9.98259 9.53020 9.31661 9.11090 8.91272 8.72173 8.36009 8.02358 7.71008 7.41766 11.36763 11.07112 10.78685 10.51421 10.25262 10.00155 9.76048 9.52892 9.30641 9.09254 8.88687 8.49867 8.13896 7.80519 12.25508 11.90751 11.57534 11.25776 10.95400 10.66333 10.38507 10.11858 9.86325 9.61852 9.38384 8.94269 8.53608 8.16073 13.13374 12.73153 12.34837 11.98318 11.63496 11.30274 10.98565 10.68285 10.39357 10.11708 9.85268 9.35765 8.90378 8.48690 14.00370 13.54338 13.10625 12.69091 12.29607 11.92052 11.56312 11.22283 10.89864 10.58965 10.29498 9.74547 9.24424 8.78615 14.86505 14.34323 13.84926 13.38138 12.93794 12.51741 12.11839 11.73955 11.37966 11.03758 10.71225 10.10791 9.55948 9.06069 15.71787 15.13126 14.57771 13.56110 13.09412 12.65230 12.23402 11.83777 11.46216 11.10590 10.44665 9.85137 9.31256 16.56225 15.90765 15.29187 14.71220 14.16612 13.65132 13.16567 12.70719 12.27407 11.86461 11.47726 10.76322 10.12164 9.54363 17.39827 16.67256 15.99203 15.35336 14.75351 14.18968 13.65930 13.15999 12.68959 12.24607 11.82760 11.05909 10.37189 9.75563 18.22601 17.42617 16.67846 15.97889 15.32380 14.70984 14.13394 13.59329 13.08532 12.60765 12.15812 11.33560 10.60360 9.95011 19.04555 18.16864 17.35143 16.58916 15.87747 15.21240 14.59033 14.00794 13.46221 12.95038 12.46992 11.59401 10.81815 10.12855 22.24339 21.03041 19.91393 18.88499 17.93554 17.05837 16.24696 15.49548 14.79864 14.15170 13.55036 12.46933 11.52876 10.70661 26.06579 24.37608 22.84438 21.45355 20.18845 19.03577 17.98371 17.02189 16.14107 15.33310 14.59072 13.27767 12.15841 11.19828 33.16303 30.36458 27.90259 25.73034 23.80822 22.10250 20.58448 19.22966 18.01704 16.92866 15.94907 14.26493 12.87858 11.72552 14.05500 n/i 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 25 30 40 3.91220 4.85438 5.78264 6.69719 7.59821 8.48593 9.36052 10.0% 1.00000 1.90909 2.73554 3.48685 4.16987 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 9.98474 10.36961 10.75696 11.0% 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 9.34814 9.65011 9.93567 12.0% 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 8.78432 9.02181 9.23303 20.0% 1.00000 1.83333 2.52778 3.10648 3.58873 3.99061 4.32551 4.60459 4.83716 5.03097 5.19247 5.32706 5.43922 5.53268 5.61057 5.67547 5.72956 5.77463 5.81219 5.84350 5.86958 5.93710 5.97472 5.99592 Each of the four independent situations below describes a sales-type lease in which annual lease payments of $165,000 are payable at the beginning of each year. Each is a finance lease for the lessee. Note: Use tables, Excel, or a financial calculator. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Lease term (years) Lessor's and lessee's interest rate Residual value: Estimated fair value Guaranteed by lessee. A. The lessor's: 1. Total lease payments 2. Gross investment in the lease 3. Net investment in the lease B. The lessee's: 4. Total lease payments 5. Right-of-use asset 6. Lease liability 1 $ 990,000 990,000 790,480✔ 1 6 10% 2 > Answer is complete but not entirely correct. Determine the following amounts at the beginning of the lease. Note: Round your intermediate and final answers to the nearest whole dollar amount. Situation $ 990,000 1,053,000 ✓ 791,706✓✔ 990,000 990,000✔ 790,480✔ 759,788 790,480✔ 759,788 2 3 $ 63,000 $ 1,155,000 Situation 6 12% 1,164,300 868,011 X 1,155,000 863,039 863,039✔ 3 4 $ 9,300 $ 9,300 7 11% $ 1,155,000 1,218,000 X 896,721 X 1,155,000 X 863,039 X 863,039 x 4 7 11% $ 63,000 $ 73,000 Table 1 Future value of $1 FV = $1(1+i)" n/i 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 25 30 40 1.0% 1.01000 1.02010 1.03030 1.04060 1.05101 1.06152 1.07214 1.08286 1.09369 1.10462 1.11567 1.12683 1.13809 1.14947 1.16097 1.17258 1.18430 1.19615 1.20811 1.22019 1.23239 1.28243 1.34785 1.48886 1.5% 1.01500 1.03022 1.04568 1.06136 1.07728 1.09344 1.10984 1.12649 1.14339 1.16054 1.17795 1.19562 1.21355 1.23176 1.25023 1.26899 1.28802 1.30734 1.32695 1.34686 1.36706 1.45095 1.56308 1.81402 2.0% 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 1.64061 1.81136 2.20804 2.5% 1.02500 1.05063 1.07689 1.10381 1.13141 1.15969 1.18869 1.21840 1.24886 1.28008 131209 1.34489 1.37851 1.41297 1.44830 1.48451 1.52162 1.55966 1.59865 1.63862 1.67958 1.85394 2.09757 2.68506 3.0% 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 2.09378 2.42726 3.26204 3.5% 1.03500 1.07123 1.10872 1.14752 1.18769 1.22926 1.27228 1.31681 1.36290 1.41060 1.45997 1.51107 1.56396 1.61869 1.67535 1.73399 1.79468 1.85749 1.92250 1.98979 2.05943 2.36324 2.80679 3.95926 4.0% 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 2.66584 3.24340 4.80102 4.5% 1.04500 1.09203 1.14117 1.19252 1.24618 1.30226 1.36086 1.42210 1.48610 1.55297 1.62285 1.69588 1.77220 1.85194 1.93528 2.02237 2.11338 2.20848 2.30786 2.41171 2.52024 3.00543 3.74532 5.81636 5.0% 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 3.38635 4.32194 7.03999 5.5% 1.05500 1.11303 1.17424 1.23882 1.30696 1.37884 1.45468 1.53469 1.61909 1.70814 1.80209 1.90121 2.00577 2.11609 2.23248 2.35526 2.48480 2.62147 2.76565 2.91776 3.07823 3.81339 4.98395 8.51331 12.0% 1.12000 1.25440 1.40493 1.57352 1.76234 1.97382 2.21068 2.47596 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 1.06000 1.07000 1.08000 1.09000 1.10000 1.11000 1.12360 1.14490 1.16640 1.18810 1.21000 1.23210 1.19102 1.22504 1.25971 1.29503 1.33100 1.36763 1.26248 1.31080 1.36049 1.41158 1.46410 1.51807 1.33823 1.40255 1.46933 1.53862 1.61051 1.68506 1.41852 1.50073 1.58687 1.67710 1.77156 1.87041 1.50363 1.60578 1.71382 1.82804 1.94872 2.07616 1.59385 1.71819 1.85093 1.99256 2.14359 2.30454 1.68948 1.83846 1.99900 2.17189 2.35795 2.55804 2.77308 1.79085 1.96715 2.15892 2.36736 2.59374 2.83942 3.10585 1.89830 2.10485 2.33164 2.58043 2.85312 3.15176 3.47855 2.01220 2.25219 2.51817 2.81266 3.13843 3.49845 3.89598 2.13293 2.40985 2.71962 3.06580 3.45227 3.88328 4.36349 2.26090 2.57853 2.93719 3.34173 3.79750 4.31044 4.88711 2.39656 2.75903 3.17217 3.64248 4.17725 4.78459 5.47357 2.54035 2.95216 3.42594 3.97031 4.59497 5.31089 6.13039 2.69277 3.15882 3.70002 4.32763 5.05447 5.89509 6.86604 2.85434 3.37993 3.99602 4.71712 5.55992 6.54355 7.68997 3.02560 3.61653 4.31570 5.14166 6.11591 7.26334 8.61276 3.20714 3.86968 4.66096 5.60441 6.72750 8.06231 9.64629 3.39956 4.14056 5.03383 6.10881 7.40025 8.94917 10.80385 4.29187 5.42743 6.84848 8.62308 10.83471 13.58546 17.00006 5.74349 7.61226 10.06266 13.26768 17.44940 22.89230 29.95992 10.28572 14.97446 21.72452 31.40942 45.25926 65.00087 93.05097 20.0% 1.20000 1.44000 1.72800 2.07360 2.48832 2.98598 3.58318 4.29982 5.15978 6.19174 7.43008 8.91610 10.69932 12.83918 15.40702 18.48843 22.18611 26.62333 31.94800 38.33760 46.00512 95.39622 237.37631 1469.77160 TABLE 2 Present value of $1 PV = $1/(1 + i)" n/i 1.0% 1 0.99010 2 0.98030 3 0.97059 0.96098 0.95147 0.94205 0.93272 0.92348 0.91434 0.90529 0.89632 0.88745 0.87866 0.86996 0.86135 0.85282 0.84438 0.83602 0.82774 0.81954 0.81143 0.78757 0.77977 0.75684 0.74934 0.74192 0.73458 0.67165 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 24 25 28 29 30 31 40 1.5% 0.98522 0.97066 0.95632 0.94218 0.92826 0.91454 0.90103 0.88771 0.87459 0.86167 0.84893 0.83639 0.82403 0.81185 0.79985 0.78803 0.77639 0.76491 0.75361 0.74247 0.73150 0.69954 0.68921 0.65910 0.64936 0.63976 0.63031 0.55126 2.0% 0.98039 0.96117 0.94232 0.92385 0.90573 0.88797 0.87056 0.85349 0.83676 0.82035 0.80426 0.78849 0.77303 0.75788 0.74301 0.72845 0.71416 0.70016 0.68643 0.67297 0.65978 0.62172 0.60953 0.57437 0.56311 0.55207 0.54125 0.45289 2.5% 0.97561 0.95181 0.92860 0.90595 0.88385 0.86230 0.84127 0.82075 0.80073 0.78120 0.76214 0.74356 0.72542 0.70773 0.69047 0.67362 0.65720 0.64117 0.62553 0.61027 0.59539 0.55288 0.53939 0.50088 0.48866 0.47674 0.46511 0.37243 3.0% 0.97087 0.94260 0.91514 0.88849 0.86261 0.83748 0.81309 0.78941 0.76642 0.74409 0.72242 0.70138 0.68095 0.66112 0.64186 0.62317 0.60502 0.58739 0.57029 0.55368 0.53755 0.49193 0.47761 0.43708 0.42435 0.41199 0.39999 0.30656 3.5% 0.96618 0.93351 0.90194 0.87144 0.84197 0.81350 0.78599 0.75941 0.73373 0.70892 0.68495 0.66178 0.63940 0.61778 0.59689 0.57671 0.55720 0.53836 0.52016 0.50257 0.48557 0.43796 0.42315 0.38165 0.36875 0.35628 0.34423 0.25257 4.0% 0.96154 0.92456 0.88900 0.85480 0.82193 0.79031 0.75992 0.73069 0.70259 0.67556 0.64958 0.62460 0.60057 0.57748 0.55526 0.53391 0.51337 0.49363 0.47464 0.45639 0.43883 0.39012 0.37512 0.33348 0.32065 0.30832 0.29646 0.20829 4.5% 0.95694 0.91573 0.87630 0.83856 0.80245 0.76790 0.73483 0.70319 0.67290 0.64393 0.61620 0.58966 0.56427 0.53997 0.51672 0.49447 0.47318 0.45280 0.43330 0.41464 0.39679 0.34770 0.33273 0.29157 0.27902 0.26700 0.25550 0.17193 5.0% 0.95238 0.90703 0.86384 0.82270 0.78353 0.74622 0.71068 0.67684 0.64461 0.61391 0.58468 0.55684 0.53032 0.50507 0.48102 0.45811 0.43630 0.41552 0.39573 0.37689 0.35894 0.31007 0.29530 0.25509 0.24295 0.23138 0.22036 0.14205 5.5% 0.94787 0.89845 0.85161 0.80722 0.76513 0.72525 0.68744 0.65160 0.61763 0.58543 0.55491 0.52598 0.49856 0.47257 0.44793 0.42458 0.40245 0.38147 0.36158 0.34273 0.32486 0.27666 0.26223 0.22332 0.21168 0.20064 0.19018 0.11746 6.0% 0.94340 0.89000 0.83962 0.79209 0.74726 0.70496 0.66506 0.62741 0.59190 0.55839 0.52679 0.49697 0.46884 0.44230 0.41727 0.39365 0.37136 0.35034 0.33051 0.31180 0.29416 0.24698 0.23300 0.19563 0.18456 0.17411 0.16425 0.09722 7.0% 0.93458 0.87344 0.81630 0.76290 0.71299 0.66634 0.62275 0.58201 0.54393 0.50835 0.47509 0.44401 0.41496 0.38782 0.36245 0.33873 0.31657 0.29586 0.27651 0.25842 0.24151 0.19715 0.18425 0.15040 0.14056 0.13137 0.12277 0.06678 8.0% 0.92593 0.85734 0.79383 0.73503 0.68058 0.63017 0.58349 0.54027 0.50025 0.46319 0.42888 0.39711 0.36770 0.34046 0.31524 0.29189 0.27027 0.25025 0.23171 0.21455 0.19866 0.15770 0.14602 0.11591 0.10733 0.09938 0.09202 0.04603 9.0% 0.91743 0.84168 0.77218 0.70843 0.64993 0.59627 0.54703 0.50187 0.46043 0.42241 0.38753 0.35553 0.32618 0.29925 0.27454 0.25187 0.23107 0.21199 0.19449 0.17843 0.16370 0.12640 0.11597 0.08955 0.08215 0.07537 0.06915 0.03184 10.0% 0.90909 0.82645 0.75131 0.68301 0.62092 0.56447 0.51316 0.46651 0.42410 0.38554 0.35049 0.31863 0.28966 0.26333 0.23939 0.21763 0.19784 0.17986 0.16351 0.14864 0.13513 0.10153 0.09230 0.06934 0.06304 0.05731 0.05210 0.02209 11.0% 0.90090 0.81162 0.73119 0.65873 0.59345 0.53464 0.48166 0.43393 0.39092 0.35218 0.31728 0.28584 0.25751 0.23199 0.20900 0.18829 0.16963 0.15282 0.13768 0.12403 0.11174 0.08170 0.07361 0.05382 0.04849 0.04368 0.03935 0.01538 12.0% 0.89286 0.79719 0.71178 0.63552 0.56743 0.50663 0.45235 0.40388 0.36061 0.32197 0.28748 0.25668 0.22917 0.20462 0.18270 0.16312 0.14564 0.13004 0.11611 0.10367 0.09256 0.06588 0.05882 0.04187 0.03738 0.03338 0.02980 0.01075 20.0% 0.83333 0.69444 0.57870 0.48225 0.40188 0.33490 0.27908 0.23257 0.19381 0.16151 0.13459 0.11216 0.09346 0.07789 0.06491 0.05409 0.04507 0.03756 0.03130 0.02608 0.02174 0.01258 0.01048 0.00607 0.00506 0.00421 0.00351 0.00068 Table 3 Future Value of an Ordinary Annuity of $1 FVA= ((1+i)" - 1)/i n/i 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 30 40 1.0% 1.0000 2.0100 3.0301 4.0604 5.1010 6.1520 7.2135 8.2857 9.3685 10.4622 11.5668 12.6825 13.8093 14.9474 16.0969 17.2579 18.4304 19.6147 20.8109 22.0190 23.2392 34.7849 48.8864 1.5% 1.0000 2.0150 3.0452 4.0909 5.1523 6.2296 7.3230 8.4328 9.5593 2.0% 1.0000 2.0200 3.0604 4.1216 5.2040 6.3081 7.4343 8.5830 9.7546 10.7027 10.9497 11.8633 12.1687 13.0412 13.4121 14.2368 14.6803 15.4504 16.6821 17.9324 19.2014 20.4894 21.7967 23.1237 24.4705 37.5387 54.2679 15.9739 17.2934 18.6393 20.0121 21.4123 22.8406 24.2974 25.7833 40.5681 60.4020 2.5% 1.0000 2.0250 3.0756 4.1525 5.2563 6.3877 7.5474 8.7361 9.9545 11.2034 12.4835 13.7956 15.1404 16.5190 17.9319 19.3802 20.8647 22.3863 23.9460 25.5447 27.1833 43.9027 67.4026 3.0% 1.0000 2.0300 3.0909 4.1836 5.3091 6.4684 7.6625 8.8923 10.1591 11.4639 12.8078 14.1920 15.6178 17.0863 18.5989 20.1569 21.7616 23.4144 25.1169 26.8704 28.6765 47.5754 75.4013 3.5% 1.0000 2.0350 3.1062 4.2149 5.3625 6.5502 7.7794 9.0517 10.3685 11.7314 13.1420 14.6020 16.1130 17.6770 19.2957 20.9710 22.7050 24.4997 26.3572 28.2797 30.2695 51.6227 84.5503 4.0% 1.0000 2.0400 3.1216 4.2465 5.4163 6.6330 7.8983 4.5% 1.0000 2.0450 3.1370 4.2782 5.4707 6.7169 8.0192 9.2142 5.0% 5.5% 1.0000 1.0000 2.0500 2.0550 3.1525 3.1680 4.3101 4.3423 5.5256 5.5811 6.8019 6.8881 8.1420 8.2669 9.3800 9.5491 9.7216 10.5828 10.8021 11.0266 11.2563 12.0061 12.2882 12.5779 12.8754 13.4864 13.8412 14.2068 14.5835 15.0258 15.4640 15.9171 16.3856 16.6268 17.1599 17.7130 18.2868 18.2919 18.9321 19.5986 20.2926 20.0236 20.7841 21.5786 22.4087 21.8245 22.7193 23.6575 24.6411 23.6975 24.7417 25.8404 26.9964 25.6454 26.8551 28.1324 29.4812 27.6712 29.0636 30.5390 32.1027 29.7781 31.3714 33.0660 34.8683 31.9692 33.7831 35.7193 56.0849 61.0071 66.4388 95.0255 107.0303 120.7998 136.6056 154.7620 37.7861 72.4355 6.0% 1.0000 2.0600 3.1836 4.3746 5.6371 6.9753 8.3938 9.8975 11.4913 13.1808 14.9716 16.8699 18.8821 21.0151 23.2760 25.6725 28.2129 30.9057 33.7600 36.7856 39.9927 79.0582 7.0% 1.0000 2.0700 3.2149 4.4399 5.7507 7.1533 8.6540 10.2598 11.9780 13.8164 15.7836 17.8885 20.1406 22.5505 25.1290 27.8881 30.8402 33.9990 37.3790 40.9955 44.8652 94.4608 199.6351 8.0% 1.0000 2.0800 3.2464 4.5061 5.8666 7.3359 8.9228 10.6366 12.4876 14.4866 16.6455 18.9771 21.4953 24.2149 27.1521 30.3243 33.7502 37.4502 41.4463 45.7620 50.4229 113.2832 259.0565 9.0% 1.0000 2.0900 3.2781 4.5731 5.9847 7.5233 9.2004 11.0285 13.0210 15.1929 17.5603 20.1407 22.9534 26.0192 29.3609 33.0034 36.9737 41.3013 46.0185 51.1601 56.7645 136.3075 337.8824 10.0% 1.0000 2.1000 3.3100 4.6410 6.1051 7.7156 9.4872 11.4359 13.5795 15.9374 18.5312 21.3843 24.5227 27.9750 31.7725 35.9497 40.5447 45.5992 51.1591 57.2750 64.0025 164.4940 442.5926 11.0% 1.0000 2.1100 3.3421 4.7097 6.2278 7.9129 9.7833 11.8594 14.1640 16.7220 19.5614 22.7132 26.2116 30.0949 34.4054 39.1899 44.5008 50.3959 56.9395 64.2028 72.2651 199.0209 581.8261 12.0% 1.0000 2.1200 3.3744 4.7793 6.3528 8.1152 10.0890 12.2997 14.7757 17.5487 20.6546 24.1331 28.0291 32.3926 37.2797 42.7533 48.8837 55.7497 63.4397 72.0524 81.6987 241.3327 767.0914 20.0% 1.0000 2.2000 3.6400 5.3680 7.4416 9.9299 12.9159 16.4991 20.7989 25.9587 32.1504 39.5805 48.4966 59.1959 72.0351 87.4421 105.9306 128.1167 154.7400 186.6880 225.0256 1181.8816 7343.8578 Table 4 Present Value of an Ordinary Annuity of $1 PVA = (1 - (1/(1 + i)"))/i 1.0% 0.99010 1.97040 2.94099 3.90197 4.85343 5.79548 6.72819 7.65168 8.56602 9.47130 10.36763 11.25508 12.13374 13.00370 13.86505 14.71787 15.56225 16.39827 17.22601 18.04555 18.85698 22.02316 25.80771 32.83469 n/i 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 25 30 40 1.5% 0.98522 1.95588 2.91220 3.85438 4.78264 5.69719 6.59821 7.48593 8.36052 9.22218 10.07112 10.90751 11.73153 12.54338 13.34323 14.13126 14.90765 15.67256 16.42617 17.16864 17.90014 20.71961 24.01584 29.91585 2.0% 0.98039 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 19 52346 22.39646 27.35548 2.5% 0.97561 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 18.42438 20.93029 25.10278 3.0% 0.97087 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 17.41315 19.60044 23.11477 3.5% 0.96618 1.89969 2.80164 3.67308 4.51505 5.32855 6.11454 6.87396 7.60769 8.31661 9.00155 9.66333 10.30274 10.92052 11.51741 12.09412 12.65132 13.18968 13.70984 14.21240 14.69797 16.48151 18.39205 21.35507 4.0% 0.96154 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 15.62208 17.29203 19.79277 4.5% 0.95694 1.87267 2.74896 3.58753 4.38998 5.15787 5.89270 6.59589 7.26879 7.91272 8.52892 9.11858 9.68285 10.22283 10.73955 11.23402 11.70719 12.15999 12.59329 13.00794 13.40472 14.82821 16.28889 18.40158 5.0% 0.95238 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 14.09394 15.37245 17.15909 5.5% 0.94787 1.84632 2.69793 3.50515 4.27028 4.99553 5.68297 6.33457 6.95220 7.53763 8.09254 8.61852 9.11708 9.58965 10.03758 10.46216 10.86461 11.24607 11.60765 11.95038 12.27524 13.41393 14.53375 16.04612 6.0% 0.94340 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 12.78336 13.76483 15.04630 7.0% 0.93458 1.80802 2.62432 3.38721 4.10020 4.76654 5.38929 5.97130 6.51523 7.02358 7.49867 7.94269 8.35765 8.74547 9.10791 9.44665 9.76322 10.05909 10.33560 10.59401 10.83553 11.65358 12.40904 13.33171 8.0% 0.92593 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 10.67478 11.25778 11.92461 9.0% 0.91743 1.75911 2.53129 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 8.95011 9.12855 9.29224 9.82258 10.27365 10.75736 10.0% 0.90909 1.73554 2.48685 3.16987 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 9.07704 9.42691 9.77905 11.0% 0.90090 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 8.42174 8.69379 8.95105 12.0% 0.89286 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 7.84314 8.05518 8.24378 20.0% 0.83333 1.52778 2.10648 2.58873 2.99061 3.32551 3.60459 3.83716 4.03097 4.19247 4.32706 4.43922 4.53268 4.61057 4.67547 4.72956 4.77463 4.81219 4.84350 4.86958 4.89132 4.94759 4.97894 4.99660 Table 5 Future Value of an Annuity Due of $1 FVAD = (((1+i)" - 1/i) × (1 + i)) n/i 1.0% 1.5% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 25 30 40 2.0% 3.0% 2.5% 1.0250 1.0100 1.0200 1.0300 3.5% 1.0350 2.1062 4.0% 1.0400 2.1216 2.0301 2.0604 2.0756 2.0909 3.0604 3.1216 3.1525 3.1836 3.2149 4.3625 4.1010 4.2040 4.2563 4.3091 5.1520 5.3081 5.3877 5.4684 5.5502 6.2135 6.4343 6.5474 6.6625 6.7794 8.0517 7.2857 7.5830 7.7361 7.8923 8.3685 8.7546 8.9545 9.1591 9.3685 10.7314 9.4622 9.9497 10.2034 3.2465 44163 5.6330 6.8983 8.2142 9.5828 11.0061 12.4864 14.0258 15.6268 17.2919 19.0236 20.8245 10.5668 10.8633 11.1687 12.0412 13.1920 13.6020 14.6178 15.1130 16.0863 16.6770 18.2957 17.4304 22.6975 104639 11.4835 11.8078 12.1420 11.6825 12.4121 12.7956 12.8093 13.2368 13.6803 14.1404 13.9474 14.4504 14.9739 15.5190 15.0969 15.6821 16.2934 16.9319 17.5989 16.2579 16.9324 17.6393 18.3802 19.1569 18.2014 19.0121 19.8647 20.7616 18.6147 194894 20.4123 21.3863 22.4144 19.8109 20.7967 21.8406 22.9460 21.0190 22.1237 23.2974 24.5447 22.2392 23.4705 24.7833 26.1833 23.4716 24.8376 26.2990 27.8629 29.5368 31.3289 33.2480 28.5256 30.5140 32.6709 35.0117 37.5530 40.3131 43.3117 35.1327 38.1018 41.3794 45.0003 49.0027 53.4295 58.3283 49.3752 55.0819 61.6100 69.0876 77.6633 87.5095 98.8265 19.9710 21.7050 23.4997 25.3572 24.6454 26.6712 24.1169 25.8704 27.6765 27.2797 28.7781 29.2695 30.9692 1.0150 2.0452 3.0909 4.1523 5.2296 6.3230 7.4328 8.5593 9.7027 4.5% 1.0450 2.1370 3.2782 4.4707 5.7169 7.0192 8.3800 9.8021 11.2882 12.8412 14.4640 16.1599 17.9321 19.7841 21.7193 23.7417 25.8551 28.0636 30.3714 32.7831 35.3034 46.5706 63.7524 111.8467 5.0% 1.0500 2.1525 3.3101 4.5256 5.8019 7.1420 8.5491 10.0266 11.5779 13.2068 14.9171 16.7130 18.5986 20.5786 22.6575 24.8404 27.1324 29.5390 32.0660 34.7193 37.5052 50.1135 69.7608 126.8398 5.5% 1.0550 2.1680 3.3423 4.5811 5 8881 7.2669 8.7216 10.2563 11.8754 13.5835 15.3856 17.2868 19.2926 21.4087 23.6411 25.9964 28.4812 31.1027 33.8683 36.7861 39.8643 53.9660 76.4194 144.1189 6.0% 1.0600 2.1836 3.3746 4.6371 5.9753 7.3938 8.8975 10.4913 12.1808 13.9716 15.8699 17.8821 20.0151 22.2760 24.6725 27.2129 29.9057 32.7600 35.7856 38.9927 42.3923 58.1564 83.8017 164.0477 7.0% 1.0700 2.2149 3.4399 4.7507 6.1533 7.6540 9.2598 10.9780 12.8164 14.7836 16.8885 19.1406 21.5505 24.1290 26.8881 29.8402 32.9990 36.3790 39.9955 43.8652 48.0057 67.6765 101.0730 213.6096 8.0% 1.0800 2.2464 3.5061 4.8666 6.3359 7.9228 9.6366 114876 13.4866 15.6455 17.9771 20.4953 23.2149 26.1521 29.3243 32.7502 36.4502 40.4463 44.7620 49.4229 54.4568 78.9544 122.3459 279.7810 9.0% 1.0900 2.2781 3.5731 4.9847 6.5233 8.2004 10.0285 12.0210 14.1929 16.5603 19.1407 21.9534 25.0192 28.3609 32.0034 35.9737 40.3013 45.0185 50.1601 55.7645 61.8733 92.3240 148.5752 368.2919 10.0% 1.1000 2.3100 3.6410 5.1051 6.7156 8.4872 10.4359 12.5795 14.9374 17.5312 20.3843 23.5227 26.9750 30.7725 34.9497 39.5447 44.5992 50.1591 56.2750 63.0025 70.4027 108.1818 180.9434 486.8518 11.0% 1.1100 2.3421 3.7097 5.2278 6.9129 8.7833 10.8594 13.1640 15.7220 18.5614 21.7132 25.2116 29.0949 33.4054 38.1899 43.5008 49.3959 55.9395 63.2028 71.2651 80.2143 126.9988 220.9132 645.8269 12.0% 1.1200 2.3744 3.7793 5.3528 7.1152 9.0890 11.2997 13.7757 16.5487 19.6546 23.1331 27.0291 31.3926 36.2797 41.7533 47.8837 54.7497 62.4397 71.0524 80.6987 91.5026 149.3339 270.2926 859.1424 20.0% 1.2000 2.6400 4.3680 6.4416 8.9299 11.9159 154991 19.7989 24.9587 31.1504 38.5805 474966 58.1959 71.0351 86.4421 104.9306 127.1167 153.7400 185.6880 224.0256 270.0307 566.3773 1418.2579 8812.6294 Table 6 Present Value of an Annuity Due of $1 PVAD = ((1 - (1/(1 + i)n))/i) x (1 + i) 1.0% 1.00000 1.99010 1.5% 1.00000 1.98522 2.95588 2.0% 1.00000 1.98039 2.5% 1.00000 1.97561 2.97040 2.94156 3.94099 4.90197 3.88388 4.80773 5.71346 6.60143 2.92742 3.85602 4.76197 5.64583 6.50813 3.0% 1.00000 1.97087 2.91347 3.82861 4.71710 5.57971 6.41719 7.23028 8.01969 8.78611 4.5% 1.00000 1.95694 2.87267 3.74896 4.58753 5.38998 6.15787 6.89270 7.59589 8.26879 5.5% 1.00000 1.94787 2.84632 3.69793 4.50515 5.27028 5.99553 6.68297 7.33457 7.95220 8.53763 5.85343 6.79548 7.72819 7.47199 7.34939 8.65168 8.32548 8.17014 8.97087 9.56602 10.47130 10.22218 9.75206 3.5% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.96618 1.96154 1.95238 1.94340 1.93458 1.92593 1.91743 2.89969 2.88609 2.85941 2.83339 2.80802 2.78326 2.75911 3.80164 3.77509 3.72325 3.67301 3.62432 3.57710 3.53129 4.67308 4.62990 4.54595 4.46511 4.38721 4.31213 4.23972 5.51505 5.45182 5.32948 5.21236 5.10020 4.99271 4.88965 6.32855 6.24214 6.07569 5.91732 5.76654 5.62288 5.48592 7.11454 7.00205 6.78637 6.58238 6.38929 6 20637 6.03295 7.87396 7.73274 7.46321 7.20979 6.97130 6.74664 6.53482 9.16224 8.60769 8.43533 8.10782 7.80169 7.51523 7.24689 6.99525 9.98259 9.53020 9.31661 9.11090 8.91272 8.72173 8.36009 8.02358 7.71008 7.41766 11.36763 11.07112 10.78685 10.51421 10.25262 10.00155 9.76048 9.52892 9.30641 9.09254 8.88687 8.49867 8.13896 7.80519 12.25508 11.90751 11.57534 11.25776 10.95400 10.66333 10.38507 10.11858 9.86325 9.61852 9.38384 8.94269 8.53608 8.16073 13.13374 12.73153 12.34837 11.98318 11.63496 11.30274 10.98565 10.68285 10.39357 10.11708 9.85268 9.35765 8.90378 8.48690 14.00370 13.54338 13.10625 12.69091 12.29607 11.92052 11.56312 11.22283 10.89864 10.58965 10.29498 9.74547 9.24424 8.78615 14.86505 14.34323 13.84926 13.38138 12.93794 12.51741 12.11839 11.73955 11.37966 11.03758 10.71225 10.10791 9.55948 9.06069 15.71787 15.13126 14.57771 13.56110 13.09412 12.65230 12.23402 11.83777 11.46216 11.10590 10.44665 9.85137 9.31256 16.56225 15.90765 15.29187 14.71220 14.16612 13.65132 13.16567 12.70719 12.27407 11.86461 11.47726 10.76322 10.12164 9.54363 17.39827 16.67256 15.99203 15.35336 14.75351 14.18968 13.65930 13.15999 12.68959 12.24607 11.82760 11.05909 10.37189 9.75563 18.22601 17.42617 16.67846 15.97889 15.32380 14.70984 14.13394 13.59329 13.08532 12.60765 12.15812 11.33560 10.60360 9.95011 19.04555 18.16864 17.35143 16.58916 15.87747 15.21240 14.59033 14.00794 13.46221 12.95038 12.46992 11.59401 10.81815 10.12855 22.24339 21.03041 19.91393 18.88499 17.93554 17.05837 16.24696 15.49548 14.79864 14.15170 13.55036 12.46933 11.52876 10.70661 26.06579 24.37608 22.84438 21.45355 20.18845 19.03577 17.98371 17.02189 16.14107 15.33310 14.59072 13.27767 12.15841 11.19828 33.16303 30.36458 27.90259 25.73034 23.80822 22.10250 20.58448 19.22966 18.01704 16.92866 15.94907 14.26493 12.87858 11.72552 14.05500 n/i 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 25 30 40 3.91220 4.85438 5.78264 6.69719 7.59821 8.48593 9.36052 10.0% 1.00000 1.90909 2.73554 3.48685 4.16987 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 9.98474 10.36961 10.75696 11.0% 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 9.34814 9.65011 9.93567 12.0% 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 8.78432 9.02181 9.23303 20.0% 1.00000 1.83333 2.52778 3.10648 3.58873 3.99061 4.32551 4.60459 4.83716 5.03097 5.19247 5.32706 5.43922 5.53268 5.61057 5.67547 5.72956 5.77463 5.81219 5.84350 5.86958 5.93710 5.97472 5.99592
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Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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