Exercise 5-11 (Algo) Future value; ordinary annuity (LO 5-7) You would like to start saving for retirement. Assuming you are now 20 years old and want to retire at age 60, you have 40 years to watch your investment grow. You decide to invest in the stock market, which has earned about 8% per year over the past 80 years and is expected to continue at this rate. You decide to invest $2,000 at the end of each year for the next 40 years. Required: Calculate how much your accumulated investment is expected to be in 40 years. Note: Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places. (FV of $1. PV of $1. EVA of $1, and PVA of $1) Accumulated investment amount ezto-cf-media.mheducation.com/Mediak Table 1 Future value of $1 FV $1(1+0) 1.0% 1.31 1 1.01000 1.01500 2 1.02016 1.03022 3 1.03030 1.04040 5 2.51 2.01 1.05000 1.02500 1.02000 1.05063 1.04090 1.04040 1.09373 1.07609 1.04568 1.06121 1.06136 1.08243 1-10381 1.12551 1.10408 1.13141 115927 1.05101 1.07728 3.01 1.16769 3.21645 1.24618 " 1.06152 1.09344 1-12616 1.15969 1.19405 1.22924 1.07214 1.10984 1.14969 1-19869 1-22987 1.37220 3.31593 " 1.08206 1.12649 1.17166 3.21040 1.24477 1.31 334857 1.27429 1.26532 1.30236 1.34010 1.36006 1.40710 3.45468 1.53449 142210 1.47746 4.51 4.0% 3.51 1.06000 1.03500 1.04000 104500 1.05000 1.12360 1.08140 1.09203 1.10250 1.11303 1.07123 1.19102 1.15763 117424 1.10872 1.12406 1.14117 1.23882 3.26248 1.14752 1.16986 1.19252 1.33823 1.30696 1.41852 3.50363 5.0% 5.51 6.05 1.05500 8.01 7.01 1.07000 1.08000 1.16640 1-14490 1.09369 1.14339 1.19509 1.34896 1.30477 1.36295 10 1.10462 1.16054 1.21099 1.28008 3.34392 1.41040 11 1.11567 1.17795 1.74337 131209 1.30423 1.45993 12 1.1268) 1.19543 1.26024 1.34489 1.42576 1.51107 13 113009 3.21355 1.46853 1.54396 14 1.14943 11-33174 331948 151259 S 15 3.16097 135023 34587 1.44030 19557971847535 16 1.17358 1.24099 133279 1-40471 1573399 1.93528 2.07893 2.0273 11 1.10430 112000240034 1.52142 3165205 1-99448 1.94798 2.30207 35526 2.3922 7.40400 1.34049 1.31080 1.40255 1.46933 3.77155 3.67710 1.58687 1.50073 1.94072 1,82804 1.40578 1.71302 1.9254 3.143359 EREDIC 3.35795 2.55804 1.99900 1.49948 1.42331 1.94715 2.15892 2.36734 1579005 1.70834 1.59297 1.42009 148024 2.30043 2.10405 2.33164 1.08209 1.71034 1.62295 1.53945 2.81246 2.21219 2.51817 1.90171 2.01220 1-60103 1.69588 1.79586 2.40905 2.13393 3.00577 1-77220 1.0545 1.46507 3.13409 3.26090 1-73168 2.394656 1.90094 2.54935 11.01 12.01 9.01 10.05 1.12000 1.10000 1-11000 1.09000 1.23210 1.25440 1.10810 1.21000 1.33100 1.36763 140493 1.29503 1.41158 1.46410 57352 1,61051 3.53462 1.51807 1.68506 1.76334 1.87041 1.97382 2.07616 2.31068 2.30454 2.47596 2.77300 2.59374 2.83942 3.10585 2.05312 3.47855 3.06580 3.45237 4.36349 2.57853 2.93719 3.34173 3.79950 4.40715 2-75903 4.17725 3.43544 4.59497 6.33039 3.49337 18 1.19415 3.05434 3.70003 3.15482 3.99603 3.37993 1532761 5105441 5.55992 4.71932 CR14355 3.48997 19 1.20.11 13249545401 159065 1575351 1.93350 2.10485 2.3074 2.526952-24565 20 3:34606 1.49595 1.500 2745330 2793776 3.02540 3.61653 4.31526 3.06964 8.46096 11591 6.72750 8.042310 23339 3-36706 1.51547 3.4L 2.05943 .0001552024 3.97623 3.45095 FAISTI MP1543 3.91339 3.39956 4.39187 3.40025 ANDE 5.4274) 6H 30.83431 $3.50M40 17.000306 30 134705 3.54308 F100479 1724340 315433 145204 2