A. Jamie Lee needs to save a total of $9,000 in order to get started in her cupcake caf venture. She is presently depositing $1,800 a year in a regular savings account. Calculate the future value of these deposits. B. Assuming that she leaves her emergency fund of $3,100 untouched, how much will her emergency fund be worth? C. What if Jamie Lee had a relative that could give her money now that she could invest? What is the minimum amount she would need now to ensure that she had $9,000 when she wanted to open the cupcake caf? D. As Jamie Lee is planning ahead for operating the cupcake caf, she calculates that she will need $24,000 per year in salary. What is the value of five years of salary when the cupcake caf opens? (Assume that she will take the salary as a one-time payment each year.) Use the table below and Exhibit 1-A. Exhibit 1-3. Exhibit 1-C. and Exhibit 1:D to calculate the balances of the information provided above. Assume that the time period for each scenario is 5 years, and the interest rate is 2%. Answer is complete but not entirely correct. A. Future Value of a series of Deposits Future Future value of Current amount times equals annulty factor value amount 1,800.00 5.2040 $ 9,367.20 B. Future Value of a Single Amount Regular deposit amount 3,100.00 times equals Future value factor 1.1041 Future value amount $ 3,422.71 C. Present Value of a Single Amount Future amount desired times Present value factor equals Present value amount WOO LUIG WCIUNULULAS, LA, LA, LATHIL FwLALUI WHIC WULUI LICHITHIULUI Pucu uuu Assume that the time period for each scenario is 5 years, and the interest rate is 2%. Answer is complete but not entirely correct. A. Future Value of a Series of Deposits Future Current amount Future value of times equals value annuity factor amount 1,800.00 5.2040 $ 9,367.20 B. Future Value of a Single Amount Regular deposit amount 3,100.00 times equals Future value factor 1.1041 Future value amount $ 3,422.71 C. Present Value of a Single Amount Future amount desired 9,000.00 times equals Present value factor 0.9057 Present value amount $ 8,151.30 D. Present Value of a Series of Deposits Regular amount to be withdrawn $ 24,000.00 times equals Present value of annuity factor 4.7135 Present value amount $ 113,124.00 A. Jamie Lee needs to save a total of $9,000 in order to get started in her cupcake caf venture. She is presently depositing $1,800 a year in a regular savings account. Calculate the future value of these deposits. B. Assuming that she leaves her emergency fund of $3,100 untouched, how much will her emergency fund be worth? C. What if Jamie Lee had a relative that could give her money now that she could invest? What is the minimum amount she would need now to ensure that she had $9,000 when she wanted to open the cupcake caf? D. As Jamie Lee is planning ahead for operating the cupcake caf, she calculates that she will need $24,000 per year in salary. What is the value of five years of salary when the cupcake caf opens? (Assume that she will take the salary as a one-time payment each year.) Use the table below and Exhibit 1-A. Exhibit 1-3. Exhibit 1-C. and Exhibit 1:D to calculate the balances of the information provided above. Assume that the time period for each scenario is 5 years, and the interest rate is 2%. Answer is complete but not entirely correct. A. Future Value of a series of Deposits Future Future value of Current amount times equals annulty factor value amount 1,800.00 5.2040 $ 9,367.20 B. Future Value of a Single Amount Regular deposit amount 3,100.00 times equals Future value factor 1.1041 Future value amount $ 3,422.71 C. Present Value of a Single Amount Future amount desired times Present value factor equals Present value amount WOO LUIG WCIUNULULAS, LA, LA, LATHIL FwLALUI WHIC WULUI LICHITHIULUI Pucu uuu Assume that the time period for each scenario is 5 years, and the interest rate is 2%. Answer is complete but not entirely correct. A. Future Value of a Series of Deposits Future Current amount Future value of times equals value annuity factor amount 1,800.00 5.2040 $ 9,367.20 B. Future Value of a Single Amount Regular deposit amount 3,100.00 times equals Future value factor 1.1041 Future value amount $ 3,422.71 C. Present Value of a Single Amount Future amount desired 9,000.00 times equals Present value factor 0.9057 Present value amount $ 8,151.30 D. Present Value of a Series of Deposits Regular amount to be withdrawn $ 24,000.00 times equals Present value of annuity factor 4.7135 Present value amount $ 113,124.00
