Tran Lee plans to set aside $3,500 a year for the next eight years, earning 5...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Tran Lee plans to set aside $3,500 a year for the next eight years, earning 5 percent. What would be the future value of this savings amount? Use Exhibit 1-B. (Round your discount factor to 3 decimal places and final answer to 2 decimal places.) Future value Mourya Period 1 2 3 4 5 6 7 1 9 10 11 12 13 14 15 16 17 18 19 20 25 30 40 50 Period 1 2 3 4 S 9 L . 9 10 28 1.000 2.010 3.030 3.060 4.122 5.204 6.308 7.434 8.583 4.060 5.101 6.152 7.214 4.184 5.309 6.468 7.662 8.892 9.755 10.159 10.462 10.950 11.464 11.567 12.169 12.808 14.192 8.286 9.369 12.683 13.809 14.947 16.097 17.258 128 18.430 19.615 20.011 22.019 28.243 34.785 48.006 64.463 84.579 1.000 2.120 3.374 4.779 21 1.000 2.020 6.353 8.115 10.009 12.300 14.776 17.549 13.412 14.680 15.974 17.293 18.639 20.012 21.412 22.841 24.297 32.030 40.588 60.402 33% 31 1.000 2.030 3.091 15.618 17.086 18.599 20.157 21.762 23.414 25.117 26.870 36.459 47.575 75.401 112.800 1.000 2.130 3.407 4.850 6.400 0.323 10.405 12.757 15.416 18.420 14% 41 1.000 2.040 3.122 4.246 5.416 6.633 7.898 9.214 10.583 12.006 13.486 15.026 16.627 18.292 20.024 27.671 29.778 41.646 56.005 51 1.000 2.050 3.153 4.310 5.526 21.825 23.698 25.645 28.132 30.539 33.066 47.727 66.439 1.000 2.140 3.440 4.921 6.610 8.536 6.802 8.142 9.549 11.027 10.730 13.233 16.085 19.337 12.578 14.207 15.917 17.713 19.599 21.579 23.657 25.840 151 1.000 2.150 3.473 4.993 6.742 19 8.754 11.067 13.727 16.786 20.304 1.000 2.060 3.184 4.375 5.637 6.975 8.394 9.897 11.491 13.181 14.973 95.026 120.800 154-760 209.350 290.340 152.670 16.870 18.882 21.015 23.276 25.673 28.213 30.906 33.760 36.786 54.865 79.058 161 1.000 2.160 3.506 5.066 6.877 8.977 11.414 14.240 17.519 21.321 71 1.000 2.070 3.215 4.440 5.751 11.978 13.816 27.888 30.840 7.153 8.654 10.637 10.260 12.488 33.999 37.379 40.995 63.249 15.784 16.645 17.808 18.977 20.141 21.495 22.550 25.129 17% 18 1.000 2.170 3.539 5.141 7.014 1.000 2.080 3.246 4.506 5.867 9.207 11.772 14.773 18.285 22.393 7.336 8.923 7.523 9.200 11.028 13.021 14.487 15.193 17.560 20.141 22.953 26.019 29.361 33.003 24.215 27.152 94.461 113.280 199.640 259.060 406.530 573.770 30.324 33.750 37.450 41.446 45.762 73.106 181 16 1.000 2.090 3.278 4.573 5.985 36.974 41.301 46.018 51.160 84.701 136.31 337.890 815.080 1.000 2.180 3.572 5.215 7.154 9.442 12.142 15.327 19.086 23.521 191 101 1.000 2.100 3.310 4.641 6.105 7,716 9.487 11.436 13.579 15.937 18.531 21.384 24.523 27.975 31.772 35.950 40.545 45.599 51.159 57.275 98.347 164.490 442.590 1,163.900 1.000 2.190 3.606 5.291 7.297 9.683 12.523 15.902 19.923 24.701 201 118 1.000 2.110 3.342 4.710 6.228 7.913 9.783 11.859 14.164 16.722 19.561 22.713 26.212 30.095 34.405 39.190 44.501 50.396 56.939 64.203 114.410 199.020 581.830 1,668.800 1.000 2.200 3.640 5.368 7.442 9.930 12.916 16.499 20.799 25.959 251 1.000 2.250 3.813 5.766 8.207 11.259 15.073 19.842 25.802 33.253 301 1.000 2.300 3.990 6.187 9.043 12.756 17.583 23.858 32.015 42.619 ---- Tran Lee plans to set aside $3,500 a year for the next eight years, earning 5 percent. What would be the future value of this savings amount? Use Exhibit 1-B. (Round your discount factor to 3 decimal places and final answer to 2 decimal places.) Future value Mourya Period 1 2 3 4 5 6 7 1 9 10 11 12 13 14 15 16 17 18 19 20 25 30 40 50 Period 1 2 3 4 S 9 L . 9 10 28 1.000 2.010 3.030 3.060 4.122 5.204 6.308 7.434 8.583 4.060 5.101 6.152 7.214 4.184 5.309 6.468 7.662 8.892 9.755 10.159 10.462 10.950 11.464 11.567 12.169 12.808 14.192 8.286 9.369 12.683 13.809 14.947 16.097 17.258 128 18.430 19.615 20.011 22.019 28.243 34.785 48.006 64.463 84.579 1.000 2.120 3.374 4.779 21 1.000 2.020 6.353 8.115 10.009 12.300 14.776 17.549 13.412 14.680 15.974 17.293 18.639 20.012 21.412 22.841 24.297 32.030 40.588 60.402 33% 31 1.000 2.030 3.091 15.618 17.086 18.599 20.157 21.762 23.414 25.117 26.870 36.459 47.575 75.401 112.800 1.000 2.130 3.407 4.850 6.400 0.323 10.405 12.757 15.416 18.420 14% 41 1.000 2.040 3.122 4.246 5.416 6.633 7.898 9.214 10.583 12.006 13.486 15.026 16.627 18.292 20.024 27.671 29.778 41.646 56.005 51 1.000 2.050 3.153 4.310 5.526 21.825 23.698 25.645 28.132 30.539 33.066 47.727 66.439 1.000 2.140 3.440 4.921 6.610 8.536 6.802 8.142 9.549 11.027 10.730 13.233 16.085 19.337 12.578 14.207 15.917 17.713 19.599 21.579 23.657 25.840 151 1.000 2.150 3.473 4.993 6.742 19 8.754 11.067 13.727 16.786 20.304 1.000 2.060 3.184 4.375 5.637 6.975 8.394 9.897 11.491 13.181 14.973 95.026 120.800 154-760 209.350 290.340 152.670 16.870 18.882 21.015 23.276 25.673 28.213 30.906 33.760 36.786 54.865 79.058 161 1.000 2.160 3.506 5.066 6.877 8.977 11.414 14.240 17.519 21.321 71 1.000 2.070 3.215 4.440 5.751 11.978 13.816 27.888 30.840 7.153 8.654 10.637 10.260 12.488 33.999 37.379 40.995 63.249 15.784 16.645 17.808 18.977 20.141 21.495 22.550 25.129 17% 18 1.000 2.170 3.539 5.141 7.014 1.000 2.080 3.246 4.506 5.867 9.207 11.772 14.773 18.285 22.393 7.336 8.923 7.523 9.200 11.028 13.021 14.487 15.193 17.560 20.141 22.953 26.019 29.361 33.003 24.215 27.152 94.461 113.280 199.640 259.060 406.530 573.770 30.324 33.750 37.450 41.446 45.762 73.106 181 16 1.000 2.090 3.278 4.573 5.985 36.974 41.301 46.018 51.160 84.701 136.31 337.890 815.080 1.000 2.180 3.572 5.215 7.154 9.442 12.142 15.327 19.086 23.521 191 101 1.000 2.100 3.310 4.641 6.105 7,716 9.487 11.436 13.579 15.937 18.531 21.384 24.523 27.975 31.772 35.950 40.545 45.599 51.159 57.275 98.347 164.490 442.590 1,163.900 1.000 2.190 3.606 5.291 7.297 9.683 12.523 15.902 19.923 24.701 201 118 1.000 2.110 3.342 4.710 6.228 7.913 9.783 11.859 14.164 16.722 19.561 22.713 26.212 30.095 34.405 39.190 44.501 50.396 56.939 64.203 114.410 199.020 581.830 1,668.800 1.000 2.200 3.640 5.368 7.442 9.930 12.916 16.499 20.799 25.959 251 1.000 2.250 3.813 5.766 8.207 11.259 15.073 19.842 25.802 33.253 301 1.000 2.300 3.990 6.187 9.043 12.756 17.583 23.858 32.015 42.619 ----
Expert Answer:
Answer rating: 100% (QA)
Future Value FV P 1 rn Where P Principal amount initial savings 3500 r Annual int... View the full answer
Related Book For
Personal Financial Planning
ISBN: 9780357438480
15th Edition
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Posted Date:
Students also viewed these corporate finance questions
-
An unlevered company with a cost of equity of 15% generates $3 million in earnings before interest and taxes (EBIT) each year. The decides to alter its capital structure to include debt by adding $4...
-
In each case, find P-1AP and then compute An. (a) (b) 2 1 2 3 2
-
Au automatic hydraulic roof support system for an underground mine costs AUD$36 million, which is purchased under a bank loan at interest rate of 8%. The depreciation period = 6years, maintenance...
-
QUESTION 5 Discuss the difference between the following:(a) Functional & non-functional requirements(b) User & system requirements T T T Arial ABC 3 (12pt) T Path: p Words:0
-
Tell whether each of the following substituents on a steroid is axial or equatorial. (A substituent that is ?up? is on the top face of the molecule as drawn, and a substituent that is ?down? is on...
-
On November 1, 2016, Patty Cosgrove established an interior decorating business, Classic Designs. During the month, Patty completed the following transactions related to the business: Nov. 1. Patty...
-
How can forward exchange contracts be used to manage foreign exchange risk?
-
Groves Company Inc. had a beginning inventory of 100 units of Product MLN at a cost of $8 per unit. During the year, purchases were: Feb 20 600 units at $ 9 Aug. 12 400 units at $11 May 5 500 units...
-
56. If the maximum concentration of PbCl2 in water is 0.01M at 298 K. Its maximum concentration in 0.1M NaCl will be : (1) 4 103 M x (3) 4 102 M (2) 0.4 10M x (4) 410 M
-
A month has elapsed since Precision Computer Centres year-end. Tony Freedman will use four specialized journals for recording business transactions in the month of Septembertwo in this chapter, and...
-
FareWell Corp is a company with a debt-to-equity ratio equal to 1. Each share is currently traded in the stock market for 6.40 per share. The number of shares outstanding in the stock market is 10.2...
-
True Or False In cases in which there is no physical harm, most courts restrict liability to serious emotional suffering.
-
True Or False Some argue that compensation of those suffering pain serves to reinforce and therefore increase their pain.
-
The purpose of ____________ is to limit the time frame in which individuals can be sued.
-
What is the difference between pure comparative negligence and the 50 percent approach? a. What is the difference between the not greater than and not as great as approach? b. Why is this difference...
-
True Or False If an intervening cause is unforeseeable, a defendant is never liable.
-
Convert 40 liters to fluid ounces using 1000 ml: 1 liter and 29.57 ml : 1 fl. oz. 2957- HOLDERS 1000 L.
-
What types of questions can be answered by analyzing financial statements?
-
Last year, Eleanor and Felix Knight bought a home with a dwelling replacement value of $350,000 and insured it (via an HO-5 policy) for $310,000. The policy reimburses for actual cash value and has a...
-
Patricia Little and Brandi Wheeler are neighbors in Reston, Virginia. Patricia works as a software engineer for Progressive Apps Corporation, while Brandi works as an executive for an industrial...
-
Natalie Warren is in her late 20s. She is renting an apartment in the fashionable part of town for $1,500 a month. After much thought, shes seriously considering buying a condominium for $325,000....
-
A change in chromosome structure that does not involve a change in the total amount of genetic material is a. a deletion. b. a duplication. c. an inversion. d. none of the above.
-
The term endopolyploidy refers to the phenomenon of having a. too many chromosomes. b. extra chromosomes inside the cell nucleus. c. extra sets of chromosomes in certain cells of the body. d. extra...
-
Which of the following is a type of plasmid? a. F factor (fertility factor) b. R factor (resistance plasmid) c. Virulence plasmids d. All of the above are types of plasmids.
Study smarter with the SolutionInn App