11. David is entering high school and is determined to save money for college. David feels he can save $5,000 each year for the next four years from his part-time job. If David is able to invest at 6%, how much will he have when he starts college? 1(Click the icon to view Present Value of $1 table.) 2(Click the icon to view Present Value of Ordinary Annuity of $1 table.) 3(Click the icon to view Future Value of $1 table.) 4(Click the icon to view Future Value of Ordinary Annuity of $1 table.) (Round your answer to the nearest dollar.) David will have $ [ when he starts college. 1: Reference Print Periods 1 2 0 4% 0.962 0.925 0.889 0.855 0.822 5% 0.952 0.907 0.864 2% 0.990 0.931 0.942 0.924 0.906 0.898 0.871 Present Value of $1 6% 7% 8% 9% 0.9430.935 0.926 0.917 0.990 0.073 0.657 0.642 0.840 0.816 0.794 0.772 10% 0.909 0.623 0.751 0.683 12% 0.893 0.797 0.712 0.638 0.567 0.507 0.452 20% 0.833 0.694 0.579 0.482 0.402 0.335 3% 0.971 0.943 0.915 0.888 0.863 0837 0.813 0.709 0.756 0.744 0.722 0.701 0.691 0.681 1% .990 0.990 0.971 0.961 0.95 0.942 0.933 0.923 0.914 0.935 0.896 0.897 0.879 0.870 0.851 0.853 0.844 0.836 0.82 0.820 0.811 0853 13% 0.847 0.710 0.609 0.516 0.437 0.370 0.314 0.288 0.225 0.191 0.162 0.137 0.116 0.099 14% 0.877 0.769 0.675 0.592 0.519 0.458 0.400 0.361 0.308 0.270 0.237 0.209 0.182 0.160 0.140 0.123 0.109 0.005 0.083 0.073 0.064 0.837 0.820 0.894 0.798 0.773 0.750 0.743 0.728 0.714 0.700 1.239 0.623 0.605 0.597 0.570 15% 16% 0.870 0.862 0.753 0.743 0.65 0.641 0.572 0.552 0.497 0.476 0.432 0.410 0.375 0.354 0.327 0.305 0.284 0.253 0.247 0.227 0.215 0.195 0.187 0.169 0.163 0.145 0.141 0.125 0.123 0.108 0.107 0.093 0.093 0.080 0.081 0.069 0.070 0.00 0.061 0.051 0.053 0.044 0.048 0.038 0.040 0.033 0.005 0.029 0.000 0.024 0.028 0.021 0.023 0.018 0.021 0.011 0.017 0.014 0.015 0.012 0.004 0.003 0.001 0.001 0.183 0.163 0.146 0.130 0.116 0.104 0.198 0.696 0.180 0.164 0.279 0.233 0.194 0.162 0.135 0.112 0.093 0.070 0.055 0.054 0.045 0.038 0.031 0.026 0.022 0.018 0.015 0.013 0.010 0.009 0.007 0.00 0.005 0.004 0.554 0.579 0.093 0.071 0.00 0.051 0.043 0.037 0.031 0.026 0.022 0.019 0.018 0.014 0.873 0.6510 0.647 0.634 0.622 0.803 0.522 0.507 0.492 0.478 0.610 0.795 0.798 0.790 0.772 0.754 0.757 0.749 0.484 0.590 0.574 0450 0.011 0437 0412 0453 0.672 0.60 0.307 0228 0.097 0.001 0.001 0.372 0.141 0.007 0.054 0.034 0.003 0.001 2: Reference Print Periods 14% 0.877 1.647 2.322 2.914 18% 0.847 1.536 2.174 2.690 3.127 3.498 3.812 4.070 4.303 20% 0.833 1.52 2106 2589 2991 62 4.089 3.605 3.837 9.474 4.192 4.327 4.439 4.533 4.311 4.675 8.002 8.142 Present Value of Ordinary Annuity of $1 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 0.990 0.990 0.971 0.962 0.9520.943 0.935 0.926 0.917 0.909 0.893 1.970 1942 1.913 1.738 1.690 2941 2854 2829 3912 3.717 4.853 5.795 6.728 7.020 8.586 7.796 8.530 10.368 9253 11.255 10.575 9.954 12.134 11.340 10.625 13.004 12.106 11.296 13 855 12845 11.930 7.808 6.811 14.718 13.578 12.561 15.562 14.292 13.166 7.120 16.398 14.992 13.754 7.250 17226 15.678 14.324 7.366 18.046 16.351 14.877 18857 17.011 15415 19660 17.658 15.937 12.04 20.456 18282 16.444 21243 18.914 16.936 13.799 22.023 19.523 17.413 15.822 14.094 12.783 11.654 22.795 20.121 | 17.977 15.983 13.006 23580 20.707 18.327 16.330 14.843 13.211 11.907 10.955 24.316 21.281 18.764 16.663 14.898 13.406 12,137 11.051 25.066 21.844 19.188 16.984 15.141 13.591 | 12.278 11.158 25.808 22.39 19.600 17.292 15.372 13.765 12.40 11.258 10.274 9.427 32 835 27.355 23.115 19.793 17.159 | 15.046 13.332 11.925 10.757 9.779 | 8.244 39.19 31.424 25.730 21.482 18.256 15.762 13.001 12.233 10.962 9.915 9.304 15% 16% 0.870 0.862 1.628 1.605 2.283 2.248 2.855 2.798 3.362 3.274 3.784 4.160 4.487 4.344 4.772 4.607 5.019 4.833 5.234 5.028 5.421 5.197 5.583 5.342 5.724 5.469 5.847 5.575 5.954 5.669 6.047 5.749 6.128 5.818 6.199 5.877 8.259 5.929 6.312 5.973 6.359 6.011 6.399 6.4346.073 6.464 0.097 8.491 6.118 8.514 6.138 6.534 6.152 6.551 6.168 6.568 6.177 0.642 6.233 8.681 6.248 6.373 6.467 6.560 6.623 6.687 5.316 5.353 5.384 5.410 6.743 12.550 4.775 4.812 4.844 4.870 4891 4.939 4.925 4.937 4.948 4.956 4.934 4.970 4.975 4.979 4.997 4.999 5.457 5.480 5.492 5.502 5.510 5.517 8.903 8.505 6.961 6.983 7.003 7.105 7.133 5.569 50 5.554 Print 3: Reference Periods 9% 1.000 1.189 1.295 1.412 10% 1.100 1.210 1.331 12% 1.120 1.254 1.405 1.574 14% 1.140 1.300 1.432 1% 1.010 1.020 1030 1.041 1.051 1.052 1.072 1.093 1094 1.105 1.116 1.127 1.138 1.149 2% 3% 1.020 1.030 1.040 1.081 1061 1093 1.0821.126 1.104 1.159 1.126 1.184 1.230 1.172 1.287 1.195 1.305 1.219 1344 1.384 1.268 1.426 1294 1.469 1319 1513 4% 1.040 1.002 1.125 1.170 1.217 1.265 1.3.6 1.369 1.423 1.480 1.539 1.601 1.565 Future Value of $1 6% 7% 1.000 1.070 1.124 1.145 1.191 1.225 1.262 1.311 1.338 1.400 1.419 1.501 1.504 1.606 1.594 1.718 1.589 1.838 1.791 1.967 1.896 2.012 2.133 5% 1.050 1.103 1.158 1.2-16 1.276 1.340 1.407 1.477 1.551 1.629 1.710 1.796 1.986 1.900 1.149 8% 1.080 1.168 1.260 1.360 1.469 1.587 1.714 1.651 1.999 15% 1.150 1323 1.521 1.749 2.011 2.313 2.060 3.059 3.518 4,048 4.652 5.350 6.153 7.078 1243 2.261 1181 8.137 1.173 9358 10.76 12.30 1423 16.37 & 3.400 41415.054 18.82 21.64 24 89 1 292 6.048 10.83 26.48 1295 7.396 11.92 1378 13.11 3923 1321 1.335 1.348 1.499 1645 3.306 4.292 5.427 3.556 4.549 5.807 3.733 4.872 6.214 3.920 5.112 6.649 4.116 5.418 7.114 4.322 5.743 7.612 7.040 10.29 14.97 11.47 18.42 29.46 2.999 3.119 3.243 4.901 7.107 15.19 17.00 1904 21.32 23.88 26.75 29.95 93.05 289. 9.623 9.399 10.25 11.17 12.17 13.27 31.41 74.38 15.8 7.988 9.317 10.06 21.72 46.90 32.92 37.86 43.54 50.07 57.58 6621 267.9 2.427 3.262 4.384 5095 45.28 117.4 168.9 700.2 2692 1084 4: Reference | 10.35 | 2 | 25.1- Future Value of Ordinary Annuity of $1 Purod 6 % 95 | 10% | 12%] 148 199 101 | 10ng | 1.1g | 1.10g | 1.100 | 1,000 1.10 1,000 | 1,000 | 1000 | 1,000 | 1.00 | 1000 201 | 2.020 | 2.136 | 2.146 | 2.150 | 2.LED 2.0 2.0 | 2.g] | 2.14] [21 3.030 3.060 3.081 | 3.122 | 3.163 | 3.4 3.25 3.246 | 3.278 | 3.473 4060 4.122 4.14] 4.246 4.370 .375 .40 4.55 4993 5.107 5.305 | 5.4F | 5.526 | 5.37 5.751 5.27 | 5.55 6.7-2 6152 6.308 6466 6.35 | 6.02 | 8.975 7.153 7.35 | 1.23 7214 7.562 7.896 3.142| 3.39 8.64 8.23 1.07 826 3.882 9.2*4 4.549 4.27 11.20 | 11.4 6.73 3398 9.255 10.6 10.58 1.12 1.19 1.8 12.9 6 | 10.46 11.48 | 12.01 | 12.58 13.16 13.82 14.4 | 15.19 | 20 30 1157 | 12.17 1.49 EZ1|1.7 15.78 188 | 17.55 4.35 15.92 13.87 17, 18.8 29 3.87 17.71 || | 18. 20.14 | 21.50 22.95 435 | 13. 21.22 22.5 24.21 21.58 | 23.8 25.13 27.15 47 59 | 23.86 | 25.67 27.9 10.32 | 4275 572 | 25.84 | 2.21 1.84 33.75 | 48 89 28.13 | 34.CO | 37.45 | 37.8 | 41.45 | 46.02 63.4 3.27 | 36. 41 45.76 | 5.1 | 57.29 33.8 44.87 50.42 | 56.7 11.70 -3.9 43.71 55.47| 82.87 7.0 53.4 61. 50.82 58.3 6.76 4.6 63.25 3.11 | 84.70 | 5-17 | 53.16 18.8 78.85 | 33.32 30.71 4.8 | 7.35 58.40 | 58.55 81.70 35.34 | 62. 2 3.4 87.3 1140 6.4 | 79.06 94.46 22.5 3729 wmwwmm+ | 400 52E 1548 2013 230.3 4065