View Policies Current Attempt in Progress Jason is planning for his retirement this year. One option that has been presented to him is the purchase of an annuity that would provide a $31.000 payment each year for the next 17 years. Click here to view the factor table. Calculate how much Jason should be willing to pay for the annuity if he can invest his funds at 13%. (For calculation purposes, us 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, c.8. 58,971.) Payment $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answe PPENDIX 9.1 Present value of $1 received in n periods. eriods 4% 5% 6% 7% 8% 10% 11% 12% 14% 20% 1 2 3 4 5 0.9615 0.9246 0.8890 0.8548 0.8219 0.9524 0.9070 0.8638 0.8227 0.7835 0.9434 0.8900 0.8396 0.7921 0.7473 0.9346 0.8734 0.8163 0.7629 0.7130 0.9259 0.8573 0.7938 0.7350 0.6806 9% 0.9174 0.8417 0.7722 0.7084 0.6499 0.9091 0.8264 0.7513 0.6830 0.6209 0.9009 0.8116 0.7312 0.6587 0.5935 0.8929 0.7972 0.7118 0.6355 0.5674 13% 0.8850 0.7831 0.6931 0.6133 0.5428 0.8772 0.7695 0.6750 0.5921 0.5194 16% 0.8621 0.7432 0.6407 0.5523 0.4761 18% 0.8475 0.7182 0.6086 0.5158 0.4371 0.8333 0.6944 0.5787 0.4823 0.4019 6 7 8 9 10 0.7903 0.7599 0.7307 0.7026 0.6756 0.7462 0.7107 0.6768 0.6446 0.6139 0.7050 0.6651 0.6274 0.5919 0.5584 0.6663 0.6227 0.5820 0.5439 0.5083 0.6302 0.5835 0.5403 0.5002 0.4632 0.5963 0.5645 0.5470 0.5132 0.5019 0.4665 0.4604 1 0.4241 0.4224 0.3855 0.5346 0.4817 0.4339 0.3909 0.3522 0.5066 0.4523 0.4039 0.3606 0.3220 0.4803 0.4251 0.3762 0.3329 0.2946 0.4556 0.4104 0.3704 0.3349 0.3996 0.3538 0.3139 0.2791 0.3506 0.3050 0.2660 0.2326 0.3075 0.2630 0.2255 0.1938 0.2697 0.2267 0.1911 0.1615 11 12 13 14 15 0.6496 0.6246 0.6006 0.5775 0.5553 0.5847 0.5568 0.5303 0.5051 0.4810 0.5268 0.4970 0.4688 0.4423 0.4173 0.4751 0.4440 0.4150 0.3878 0.3624 0.4289 0.3971 0.3677 0.3405 0.3152 0.3875 0.3555 0.3262 0.2992 0.2745 0.3505 0.3186 0.2897 0.2633 0.2394 0.3173 0.2858 0.2575 0.2320 0.2090 0.2875 0.2607 0.2366 0.1954 0.1619 0.1346 0.2567 0.2307 0.2076 0.1685 0.1372 0.1122 0.2292 0.2042 0.1821 0.1452 0.1163 0.0935 0.2046 0.1807 0.1597 0.1252 0.0985 0.0779 0.1827 0.1599 0.1401 0.1079 0.0835 0.0649 0.4581 0.4363 0.4155 0.3957 0.3769 0.3936 0.3714 0.3503 0.3305 0.3118 16 0.5339 17 0.5134 18 0.4936 19 0,4746 20 0.4564 $1 PV..= (1 + i)" 0.3387 0.3166 0.2959 0.2765 0.2584 0.1415 0.1229 0.1252 0.1078 0.1108 0.0946 0.0981 0.0829 0.0868 0.0728 0.2919 0.2519 0.2176 0.1883 0.1631 0.2703 0.2311 0.1978 0.1696 0.1456 0.2502 0.2120 0.1799 0.1528 0.1300 0.2317 0.1945 0.1635 0.1377 0.1161 0.2145 0.1784 0.1486 0.1240 0.1037 0.0930 0.0802 0.0691 0.0596 0.0514 0.0708 0.0541 0.0600 0.0451 0,0508 0.0376 0.0431 0.0313 0.0365 0.0261 PPENDIX 9.1 Present value of $1 received in n periods. eriods 4% 5% 6% 7% 8% 10% 11% 12% 14% 20% 1 2 3 4 5 0.9615 0.9246 0.8890 0.8548 0.8219 0.9524 0.9070 0.8638 0.8227 0.7835 0.9434 0.8900 0.8396 0.7921 0.7473 0.9346 0.8734 0.8163 0.7629 0.7130 0.9259 0.8573 0.7938 0.7350 0.6806 9% 0.9174 0.8417 0.7722 0.7084 0.6499 0.9091 0.8264 0.7513 0.6830 0.6209 0.9009 0.8116 0.7312 0.6587 0.5935 0.8929 0.7972 0.7118 0.6355 0.5674 13% 0.8850 0.7831 0.6931 0.6133 0.5428 0.8772 0.7695 0.6750 0.5921 0.5194 16% 0.8621 0.7432 0.6407 0.5523 0.4761 18% 0.8475 0.7182 0.6086 0.5158 0.4371 0.8333 0.6944 0.5787 0.4823 0.4019 6 7 8 9 10 0.7903 0.7599 0.7307 0.7026 0.6756 0.7462 0.7107 0.6768 0.6446 0.6139 0.7050 0.6651 0.6274 0.5919 0.5584 0.6663 0.6227 0.5820 0.5439 0.5083 0.6302 0.5835 0.5403 0.5002 0.4632 0.5963 0.5645 0.5470 0.5132 0.5019 0.4665 0.4604 1 0.4241 0.4224 0.3855 0.5346 0.4817 0.4339 0.3909 0.3522 0.5066 0.4523 0.4039 0.3606 0.3220 0.4803 0.4251 0.3762 0.3329 0.2946 0.4556 0.4104 0.3704 0.3349 0.3996 0.3538 0.3139 0.2791 0.3506 0.3050 0.2660 0.2326 0.3075 0.2630 0.2255 0.1938 0.2697 0.2267 0.1911 0.1615 11 12 13 14 15 0.6496 0.6246 0.6006 0.5775 0.5553 0.5847 0.5568 0.5303 0.5051 0.4810 0.5268 0.4970 0.4688 0.4423 0.4173 0.4751 0.4440 0.4150 0.3878 0.3624 0.4289 0.3971 0.3677 0.3405 0.3152 0.3875 0.3555 0.3262 0.2992 0.2745 0.3505 0.3186 0.2897 0.2633 0.2394 0.3173 0.2858 0.2575 0.2320 0.2090 0.2875 0.2607 0.2366 0.1954 0.1619 0.1346 0.2567 0.2307 0.2076 0.1685 0.1372 0.1122 0.2292 0.2042 0.1821 0.1452 0.1163 0.0935 0.2046 0.1807 0.1597 0.1252 0.0985 0.0779 0.1827 0.1599 0.1401 0.1079 0.0835 0.0649 0.4581 0.4363 0.4155 0.3957 0.3769 0.3936 0.3714 0.3503 0.3305 0.3118 16 0.5339 17 0.5134 18 0.4936 19 0,4746 20 0.4564 $1 PV..= (1 + i)" 0.3387 0.3166 0.2959 0.2765 0.2584 0.1415 0.1229 0.1252 0.1078 0.1108 0.0946 0.0981 0.0829 0.0868 0.0728 0.2919 0.2519 0.2176 0.1883 0.1631 0.2703 0.2311 0.1978 0.1696 0.1456 0.2502 0.2120 0.1799 0.1528 0.1300 0.2317 0.1945 0.1635 0.1377 0.1161 0.2145 0.1784 0.1486 0.1240 0.1037 0.0930 0.0802 0.0691 0.0596 0.0514 0.0708 0.0541 0.0600 0.0451 0,0508 0.0376 0.0431 0.0313 0.0365 0.0261 PPENDIX 9.2 Present value of an annuity of $1 per period. Periods 4% 5% 6% 7% 11% 12% 13% 14% 16% 18% 1 2 3 4 5 0.9615 1.8861 2.7751 3.6299 4.4518 0.9524 1.8594 2.7232 3.5460 4.3295 0.9434 1.8334 2.6730 3.4651 4.2124 0.9346 1.8080 2.6243 3.3872 4.1002 8% 9% 10% 0.9259 0.9174 0.9091 1.7833 1.7591 1.7355 2.5771 2.5313 2.4868 3.3121 3.2397 3.1698 3.9927 3.8897 3.7907 0.9009 1.7125 2.4437 3.1024 3.6959 0.8929 1.6901 2.4018 3.0373 3.6048 0.8850 1.6681 2.3612 2.9745 3.5172 0.8772 1.6467 2.3216 2.9137 3.4331 0.8621 1.6052 2.2459 2.7982 3.2743 0.8475 1.5656 2.1743 2.6901 3.1272 20% 0.833 1.5273 2.106 2.588 2.9900 6 7 8 9 10 5.2421 6.0021 6.7327 7.4353 8.1109 5.0757 5.7864 6.4632 7.1078 7.7217 4.9173 5.5824 6.2098 6.8017 7.3601 4.7665 4.6229 4.4859 4.3553 5.3893 5.2064 5.0330 4.8684 5.9713 5.7466 5.5348 5.3349 6.5152 6.2469 5.9952 I 5.7590 7.0236 6.7101 6.4177 6.1446 4.2305 4.7122 5.1461 5.5370 5.8892 4.1114 4.5638 4.9676 5.3282 5.6502 3.9975 4.4226 4.7988 5.1317 5.4262 3.8887 4.2883 4.6389 4.9464 5.2161 3.6847 4.0386 4.3436 4.6065 4.8332 3.4976 3.8115 4.0776 4.3030 4.4941 3.3259 3,6046 3.8372 4.0310 4.1925 11 12 13 8.7605 9.3851 9.9856 10.5631 11.1184 8.3064 8.8633 9.3936 9.8986 10.3797 7.8869 8.3838 8.8527 9.2950 9.7122 7.4987 7.1390 6.8052 6.4951 7.9427 7.5361 7.1607 6.8137 8.3577 7.9038 7.4869 7.1034 8.74558.2442 7.7862 7.3667 9.1079 8.5595 8.0607 7.6061 6.2065 6.4924 6.7499 6.9819 7.1909 5.9377 6.1944 6.4235 6.6282 6.8109 5.6869 5.9176 6.1218 6.3025 6.4624 5.4527 5.6603 5.8424 6.0021 6.1422 5.0286 5.1971 5.3423 5,4675 5.5755 4.6560 4.7932 4.9095 5.0081 5.0916 4.3271 4.4392 4.5327 4.6106 4.6755 14 15 16 11.6523 10.8378 10.1059 9.4466 8.8514 8.3126 7.8237 17 12.1657 11.2741 10.4773 9.7632 9.1216 8.5436 8.0216 18 12.6593 11.6896 10.8276 10.0591 9.3719 8.7556 8.2014 19 13.1339 12.0853 11.1581 10.3356 9.6036 8.9501 8.3649 20 13.5903 12.4622 11.4699 10.5940 9.8181 9.1285 8.5136 1 $1 - (1+1)" PVA..= 7.3792 7.5488 7.7016 7.8393 7.9633 6.9740 7.1196 7.2497 7.3658 7.4694 6,6039 6.7291 6.8399 6,9380 7.0248 6.2651 6.3729 6.4674 6.5504 6.6231 5.6685 5.7487 5.8178 5.8775 5.9288 5.1624 4.7296 5.2223 4.7746 5.2732 4.8122 5.3162 4.8435 5.3527 4.8696