A family spends $55,000 a year for living expenses. If prices increase 4 percent a year for the next three years, what amount will the family need for their annual living expenses after three years? Only use the FV factor values obtained in Exhibit 1-A to calculate this solution. (Round your FV factor to 3 decimal places and final answer to the nearest whole dollar.) Future living expenses Exhibit 1 -A Future Value (Compounded Sum) of $1 after a Given Number of Time Periods Period 1% 3% 7% 8% 9% 10% 11% 101 104 109 11 1.11 1 2 104 1145 1 166 6% 106 1124 1191 1252 1188 1061 1003 120 5% 105 1105 1150 1216 1270 3 1082 1 125 1.17 103 1061 1205 1368 4 1041 1311 136 1412 1464 1518 1082 1.104 5 1051 1.159 1217 1685 1530 1677 6 1062 1265 1419 1501 1611 1772 1940 1567 1714 187 7 1072 123 1316 2070 8 1083 1504 1718 1861 2141 2305 1094 1.195 1623 1551 2172 1.257 1305 1344 1354 1689 1791 10 1219 148 1 105 1 116 2.568 2830 3152 11 1243 171 2 150 2332 2518 272 1530 1601 1665 1732 12 2350 2594 2855 3150 3.452 2105 2252 241 1.127 3.490 3885 13 1.158 1294 1060 250 2015 3056 3342 3642 1886 14 1 169 1310 1513 3797 2579 2750 15 1151 1 346 2012 2133 2261 2907 254 2695 2854 1801 2070 4785 3.172 3.426 16 1.173 1373 1600 1873 4.595 5311 2.180 2.29 17 1.184 1655 1948 3.159 37 5895 6544 18 1196 2026 2007 4717 5054 556 6.116 1700 1754 19 1 208 2107 4316 5142 20 2650 3617 3.87 5427 2.191 2606 5.604 25 2094 3386 6848 13 585 1282 1 346 30 3243 1641 1811 2200 2692 7612 14.974 40 1600 10835 17449 45 250 117391 5745 10206 18.42 4801 704 10065 21725 46.902 13260 31400 74358 65001 50 1645 7.107 184565 Period 14% 15% 17% 18% 19% 20% 25% 30% 12% 1.12 1 13% 1.19 1 277 1.15 12 16% 1.16 1 346 1561 1.18 1 302 1.25 1563 2 1.329 1360 1 60 1 416 1605 3 1.005 1.482 1.521 1602 2107 1.574 163 1.749 1811 1874 1939 2005 2074 2441 2.856 5 1.782 1.842 1.925 2011 2.1 2.192 2288 2386 2488 3052 3.713 6 1970 2313 2.80 3815 4827 2.195 2.502 2002 2.353 2.658 7 2.211 2436 2.826 3.278 2006 3563 266 2.565 3001 3.511 2.7 3.185 3.759 3.379 4768 6275 8 2.476 2.559 9.059 4021 5.96 8.157 9 2.779 9.000 9.252 9.518 9.809 4.108 7451 10 604 4785 5605 10 3106 3.707 4807 0313 5.16 6102 7.43 3.395 3.836 13786 5234 6.176 3.470 6.777 11 642 17922 12 3.896 4.335 4.618 535 5.936 6.58 7288 8064 8916 14.552 23 298 13 5192 6.159 6 886 7699 0506 10.699 18.19 30 288 8590 10 147 14 4.687 5.535 7076 7968 0.007 11.42 12830 22737 30 374 5.474 6.254 7.136 0.137 9.266 11 974 13.59 15 407 28 422 51.100 10 539 12.99 16 6.13 7.067 8.137 9358 10.748 16.172 18.488 95527 66 542 17 6.666 7.986 9276 10.781 12.166 19244 22 186 4000 86 504 14.129 16 672 10673 23 214 18 760 10 575 12375 14.163 16870 26 623 55511 112.455 22 901 27252 8.613 10.197 12.056 14 232 16.777 31945 146.182 19 746 29.106 69 300 86.736 20 9.646 11.523 19.743 16.367 19.461 27393 92429 38 338 190.05 25 17 21231 26.062 32 910 10874 50 658 62660 77385 95 396 705 641 264698 807794 30 20 96 30.116 50 95 66 212 B5 85 111 065 143 371 184 675 237376 1469.772 40 93.051 132.782 188.584 378.721 533 360 750 378 1051 660 7523.164 70064923 36118865 497929 223 50 289.002 450.736 700233 1089.657 1670.704 2566 215 9927357 5988 914 9100 438