Amanda wants to take the next six years of work to travel around the world. She estimates her annual cash needs at $26.000 (if she needs more, she will work odd jobs). Amando believes she can invest her savings at 10% until she depletes her funds. (Click the loon to view Present Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of S1 table.) (Click the icon to view Future Value of $1 table.) Click the icon to view Future Value of Ordinary Annuity of $1 table.) Read the requirements Requirement 1. How much money does Amanda need now to fund her travels? (Round your answer to the nearest whole dollar) With the 10% interest rate, Amanda needs Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% Period 1 0.990 0.980 0.971 0.962 0.952 0.943 0.935 0.9260.917 0.909 0.893 0.877 0.870 0.862 0.847 0.833 Period 2 0.980 0.961 0.943 0.925 0.907 0.890 0.873 0.8570.8420.826 0.797 0.769 0.756 0.743 0.7180.694 Period 3 0.971 0.942 0.915 0.8890.864 0.840 0.816 0.7940.772 0.751 0.712 0.675 0.658 0.6410.609 0.579 Period 4 10.961 0.924 0.888 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.636 0.592 0.572 0.552 0.516 0.482 Period 5 10.951 0.906 0.863 0.822 0.784 0.747 0.713 0.681 0.650 0.621 0.567 0.519 0,497 0.476 0.437 0.402 Period 6 |0.942 0.888 0.837 0.790 0.746 0.705 0.6660.630 0.596 0.564 0.507 0.456 0.432 0.410 0.370 0.335 Period 7 10.933 0.871 0.813 | 0.760 0.7110.665 0.623 0.5830.547 0.513 0.452 0.400 0.376 0.354 0.314 0.279 Period 8 10.923 0.853 0.789 0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.4040.351 0.327 0.305 0.266 0.233 Period 9 0.914 0.8370.766 0.703 0.6450.592 0.544 0.500 0.460 0.424 0.361 0.308 0.284 0.263 0.22 0.194 Period 10 0.90 0.820 0.744 0.676 0.614 0.558 0.508 0.463 0.422 0.3860.322 0.270 0.247 0.227 0.1910.162 Period 11 0.896 0.804 0.722 0.650 0.585 0.527 0,475 0.429 0.388 0.350 0.287 0.237 0.215 0.1950.162 0.135 Period 12 0.887 0.788 0.701 0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.257 0.208 0.187 1680.137 0.112 Period 13 0.879 0.773 0.681 0.601 0.530 0.469 0.415 0.368 0.326 0.290 0.229 0.182 0.163 0.145 0.116 0.093 Period 140.870 0.758 0.661 0.577 0.505 0.442 0.3880.340 0.299 0.263 0.20 0.1600.141 0.125 0.099 0.078 Period 15 0.8610,743 0.642 0.555 0.481 0.417 0.362 0.315 0.275 0.239 0.183 0.140 0.123 0.108 0.084 0.065 Period 16 10.853 0.7280.623 0.5340.458 0.394 0.3390.292 0.252 0.218 0.163 0.123 0.107 0.093 0.071 0.054 Period 17 0.844 0.714 0.605 0.513 0.436 0.371 0.317 0.270 0.231 0.1980.146 0.108 0.093 0.080 | 0.060 0.045 Period 18 10.836 0.700 | 0.587 0.494 0.416 0.350 0.296 0.250 0.212 0.180 0.130 0.095 0.081 0.069 0.051 0.038 Period 19 10.828 0.686 0.570 0.475 0.396 0.331 0.277 0.232 0.194 0.164 0.116 0.083 0.070 | 0.060 0.043 0.031 Period 20 10.8201 0.673 0.5540.456 0.377 0.312 0.2580.215 0.178 0.149 0.104 0.073 0.061 0.051 0.037 0,026 Period 210.811 0.660 0.538 0.439 0.359 0.294 0.24 0.1990.1640.135 0.093 0.064 0.053 0.044 0.031 0.022 Period 22 0.803 0.647 0.522 0.422 0.342 0.278 0.226 0.184 0.150 0,123 0.083 0.056 0.046 0.038 0.026 0.018 Period 230.795 0.634 0.507 0,4060.3260.262 0.211 0.1700.138 0.112 0.074 0.049 0.040 0.033 0.022 0.015 Period 24 0.788 0.622 0.492 0.390 0.310 0.247 0.197 0.158 0.126 0.102 0.066 0.043 0.035 0.028 0.019 0.013 Period 25 0.780 0.610 0.478 0.375 0.295 0.233 0.184 0.146 0.116 0.092 0.059 0.038 0.030 0.024 0.0160.010 Period 26 0.772 0.598 0.464 0.361 0.281 0.220 0.172 0.135 0.106 0.084 0.053 0.033 0.026 0.021 0.014 0.009 Period 27 10.764 0.586 0.450 0.347 0.268 0.207 0.161 0.125 0.098 0.076 0.047 0.029 0.023 0.018 0.0110.007 Period 28 0.757 0.574 0.437 0.333 0.255 0.1960.150 0.116 0.090 0.069 0.042 0.026 0.0200.0160.010 0.006 Period 29 0.749 0.563 0.424 0.321 0.243 0.185 0.141 0.1070.082 0.063 0.037 0.022 0.0170.014 0.008 0.005 Period 30 0.742 0.552 0.412 0.308 0.231 0.174 0.131 0.099 0.075 0.057 0.033 0.0200.015 0.0120.007 0.004 Period 40 0.672 0.453 0.307 0.208 0.142 0.097 0.067 0.046 0.032 0.022 0.0110.005 0.0040.003 0.001 0.001 Period 50 0.608 0.372 0.228 0.1410.087 0.054 0.034 0.021 0.013 0.0090.003 0.001 0.001 0.001 Print Done Present Value of Ordinary Annuity of Si Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% Period 1 0.990 0.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.893 0.877 0.870 0.862 0.847 0.833 Period 2 1.970 1.942 1.913 1.886 1.859 1.833 1.808 1.783 1.759 1.736 1.6901.647 1.626 1.605 1.566 1.528 Period 3 2.9412.884 2.829 2.775 2.723 2.6732.624 2.577 2.531 2.487 2.402 2.322 2.283 2.246 2.174 2.106 Period 4 3.902 3.808 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.037 2.914 2.855 2.798 2.690 2.589 Period 5 4.853 4.713 4.580 4.452 4.3294.212 4.100 3.9933.890 3.791 3.605 3.433 3.352 3.274 3.127 2.991 Period 6 5.795 5.601 5.417 5.2425.0764.917 4.767 4.623 4.4864.355 4.111 3.8893.784 3.685 3.498 3.326 Period 7 6.728 6,472 6.230 6.0025.786 5.582 5.389 3.206 5.033 4.868 4.5644.288 4.160 4.0393.812 3.605 Period 8 7.652 7.325 7.020 6.733 6.463 6.210 5.9715.7475.535 5.335 4.9684.639 4.4874344 | 4.0783.837 Period 9 8.5668.162 7.786 7.435 7.108 6.802 6.515 6.2475.9955.759 5.328 4.946 | 4.7724.607 4,303 4.031 Period 10 9.4718.9838.530 8.1117.722 7.360 7.0246.710 6.418 6.145 5.6505.216 5.019 4,833 4.494 4.192 Period 11 10.368 9.787 9.2538.760 8.3067.887 7.499 7.139 6.805 6,495 5.938 5.453 5.234 5.029 4.656 4.327 Period 12 11.255 10.575 9.954 9.3858.8638.384 7.9437.536 7.1616.814 6.1945.660 5.4215.197 4.793 4.439 Period 13 12.134 11.348 10.635 9.9869.3948.853 8.3587.904 7.487 7.1036,424 5.8425.583 5.342 | 4.910 4.533 Period 14 13.004 12.106 11.296 10.563 9.899 9.295 8.745 8.244 7.786 7.3676.6286.002 5.724 5.4685.008 4.611 Period 15 13.865 12.849 11.938 11.11810.3809.712 9.108 8.559 8.061 7.606 6.811 6.142 5.8475.575 5.092 4.675 Reference Period 16 14.71813.578 12.561 11.652 10.838|10.106 9.447 8.851 8.313 7.8246,974 6.2655.9545.669 5.1624.730 Period 17 15.562 14.292 13.166 12.166 11.27410.477 9.763 9.122 8,544 8.022 7.1206.373 6.047 5.749 5.222 4.775 Period 18 16.398 14.992|13.75412.65911.690|10.828 10.0599,3728.756 8.2017.250 6.467 | 6.128 5.818 5.2734.812 Period 19 17.226 15.678 14.324 13.134|12.08511.15810.336 9.604 8.950 8.365 7.366 6.5506.1985.8775.3164.844 Period 20 18.046 16.351 14.877 13.590 12.462 11.470 10.594 9.818 9.129 8.514 7.469 6.623 6.259 5.9295.353 4.870 Period 21 18.857 17.011 15.415 14.029 12.82111.764 10.836 10.017 9.292 8.6497.562 6.687 6.3125.973 5.384 4.891 Period 22 19.660 17.658 15.937| 14.451 13.163 12.042 11.061|10.2019.442 8.7727.645 6.7436.3596.0115.410 4.909 Period 23 20.456 18.292 16.444 14.857 13.489|12.303 11.272 10.371 9.5808.8837.718 6.792 6.3996.044 5.432 4.925 Period 24 21.243 18.914 16.936 15.247|13.79912.550 11.469|10.529 9.707 8.985 7.784 6.8356,4346.073 5.451 4.937 Period 25 22.023 19.523 17.41315.622 14.09412.783 11.65410.675 9.8239.077 7.8436,873 6.464 6.097 5.467 4.948 Period 26 22.798 20.121 17.877|15.983 14.37513.003 11.826|10.810 9.929 9.1617.896 6.906 6.491 6.118 5.480 4.956 Period 27 23.560 20.707 18.327 16,330|14.64313.211|11.987 10.935 10.027 9.237 7.943 6.935 6.514 6.1365.492 4.964 Period 28 (24.31621.28118.764 16.663|14.898|13.406 12.13711.051 10.116 9.307 7.984 6.961 | 6.534 6.1525.5024.970 Period 29 25.066 21.844|19.188 16.984 15.141 13.591 12.278 11.158 10.198| 9.3708.022 | 6.9836.551 6.1665.510 4.975 Period 30 25.80822.396 19.600 17.292|15.372 13.765 12.409 11.25810.274 9.4278.055 7.003 6,566 6.1775.517 4.979 Period 40 32.835 27.355|23.115 19.793 17.159 15.046 13.332|11.925/10.757 9.779 | 8.244 7.105 6.642 6.233 5.5484.997 Period 50 39.196 31.424 25.730 21.482 18.25615.762 13.801 12.233 10.962 9.915 8.304 7.133 6.661 6.246 5.554 4.999 Print Done Future Value of $1 7% 8% Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 1% 2% 3% 4% 5% 6% 9% 10% 12% 14% 15% 1.010 1.020 1.030 1.040 1.050 1.000 1.070 1.080 1.090 1.100 1.120 1.140 1.150 1.020 1.0401.061 1.0821.103 1.1241.145 1.166 1.1881.210 1.254 1.300 1.323 1.030 1.061 1.093 1.125 1.1581.191 1.225 1.260 1.295 1.331 | 1.405 1.482 1.521 1.041 1.082 1.126 1.170 1.216 1.262 1.311 1.360 1.4121.464 1.574 1.689 1.749 1.051 1.104 1.1591.217 1.276 1.338 1.403 1.469 1.539 1.611 1.762 1.925 2.011 1.062 1.126 1.1941.265 1.340 1.419 1.501 1.587 1.677 1.772 1.9742.1952.313 1.072 1.149 1.2301.316 1.407 1.5041.606 1.7141.8281.949 2.211 2.502 2.660 1.083 1.1721.267 1.369 1.4771.594 1.7181.851 1.993 2.144 2.476 2.853 3.059 1.094 | 1.1951.305 1.4231.551 1.689 1.838 1.999 2.172 2.3582.7733.252 3.518 1.105 1.219 1.344 1.480 1.6291.791 1.967 2.159 2.367 2.594 3.106 3.707 4.046 1.116 1.243 1.3841.539 1.710|1.898 2.105 2.332 2.580 2.853 3.479 4.226 4.652 1.127 1.268 1.426 1.601 1.796 2.012 2.252 2.518 2.8133.138 3.896 4.818 5.350 1.1381.294 1.469 1.665 1.886 2.1332.410 2.720 3.066 3.452 4.363 5.492 6.153 1.149 1.319 | 1.513 1.7321.980 2.261 2.579 2.937 3.342 3.798 4.887 6.261 7.076 1.161 1.346 1.558 1.8012.0792.397 2.759 3.1723.642 4.177 5.474 7.1388.137 Period 11 Period 12 Period 13 Period 14 Period 15 Period 16 Period 17 Period 18 Period 19 Period 20 Period 21 Period 22 Period 23 Period 24 Period 25 1.173 | 1.373 1.605 1.873 2.183 2.540 2.952 3.426 3.9704.5956.130 8.1379.358 1.184 1.400 1.653 | 1.948 2.292 2.6933.159 3.700 4.3285.054 6.8669.276 10.76 1.196 | 1.428 1.702 2.0262.407 2.8543.380 3.996 4.717 5.560 7.690 10.58 12.38 1.208 1.457 1.754 2.107 2.527 3.026 3.617 4.316 5.142 6.116 8.613 12.06 14.23 1.220 1.486 1.806 2.191 2.653 3.2073.870 4.661 5.604 6.727 9.646 13.74 16.37 1.232 1.516 | 1.860 2.279 2.786 3.400 4.1415.034 6.1097.400 10.80 15.67 18.82 1.245 1.546 1.916 2.370 2.925 3.604 4.430 5.4376.659 8.140 12.10 17.86 21.64 1.257 1.5771.974 2.465 3.0723.820 4.741 5.8717.258 8.954 13.55 20.36 24.89 1.270 1.608 2.0332.563 3.225 4.049 5.072 6.3417.911 9.850 15.18 23.2128.63 1.282 1.641 2.094 2.666 3.386 4.2925.4276.848 8.623 10.83 | 17.00 26.46 32.92 1.295 1.673 2.1572.7723.556 4.549 5.8077.3969.399 11.92 19.04 30.17 37.86 1.308 1.707 2.221 2.883 3.733 4.822 6.214 7.988 10.25 13.11 21.32 34.3943.54 1.321 1.741 2.288 2.999 3.920 5.112 6.649 8.627 11.17 14.42 23.88 39.20 50.07 1.335 1.7762.357 3.119 4.116 5.418 7.1149.317 12.17 15.86 26.75 44.69 57.58 1.348 1.811 2.427 3.243 4.3225.743 7.612 10.06 13.27 17.45 29.96 50.95 | 66.21 Period 26 Period 27 Period 28 Period 29 Period 30 Period 40 1.489 2.208 3.262 4.801 7.040 10.29 14.9721.72 31.41 45.26 | 93.05 188.9267.9 Period 50 1.645 2.692 4.384 7.107 11.47 18.42 29.46 46.90 74.36 117.4 289.0 700.2 1,084 Print Done 9% Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 Future Value of Ordinary Annuity of $1 1% 2% 3% 4% 5% 6% 7% 8% 10% 12% 14% 15% 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2.010 2.0202.030 2.040 2.050 2.060 2.070 2.080 2.090 2.100 2.120 2.140 2.150 3.030 3.060 3.091 3.1223.153 3.1843.215 3.246 3.278 3.310 3.374 3.440 3.473 4.0604.122 4.1844.2464.3104.375 4.440 4.5064.573 4.641 4.779 4.921 4.993 5.101 5.204 5.3095.416 5.526 5.637 5.751 5.8675.985 6.105 | 6.353 6.610 6.742 6.152 6.308 6.468 6.633 6.8026.975 7.1537.3367.523 7.716 8.115 8.536 8.754 7.214 7.434 7.6627.898 8.142 8.394 8.654 8.9239.2009.487 10.09 10.73 11.07 8.286 8.5838.8929.2149.549 9.897 10.260 10.6411.03 11.44 12.30 13.23 13.73 9.369 9.755 10.16 10.58 11.03 11.49 11.98 12.49 13.02 13.5814.78 16.09 16.79 10.46 10.95 11.46 12.01 12.58 13.18 13.82 14.49|15.19 15.94 17.55 19.34 | 20.30 11.57 12.17 12.8113.49 14.21 14.97 15.78 16.65 17.56 18.53 20.65 23.0424.35 12.68 13.41 14.19 15.03 15.92 16.87 17.8918.98 20.14 21.3824.13 27.2729.00 13.81 14.6815.62 16.63 17.71 18.88 20.14 21.50 22.95 24.52 28.03 32.0934.35 14.95 15.97 17.09 18.29 19.60 21.02 22.55 24.21 26.02 27.98 32.39 37.58 40.50 16.10 17.29 18.60 20.02 21.58 23.28 25.13 27.15 29.3631.77 37.28 43.84 47.58 Period 11 Period 12 Period 13 Period 14 Period 15 Print Done Period 16 Period 17 Period 18 Period 19 Period 20 Period 21 Period 22 Period 23 Period 24 Period 25 Period 26 Period 27 Period 28 Period 29 Period 30 17.26 18.64 20.16 21.8223.66 | 25.67 27.89 30.32 33.00 35.95 42.75 50.98 55.72 18.43 20.01 21.7623.70 25.84 28.21 30.84 33.75 36.97 40.54 48.8859.12 | 65.08 19.61 21.4123.4125.65 28.13 30.91 34.00 37.4541.30 45.60 55.7568.39 75.84 20.81 22.84 25.12 27.67 30.54 33.76 37.38 41.45 46.02 51.16 63.44 78.97 88.21 22.02 24.30 26.87 29.7833.07 36.79 41.00 45.7651.16 57.28 72.05 91.02 102.4 23.2425.7828.68 31.9735.72 39.99 44.8750.42 56.76 64.00 81.70 104.8 118.8 24.47 27.30 30.5434.25 38.51 43.39 49.01 55.46 | 62.87 71.40 92.50 120.4 | 137.6 25.72 28.8532.45 36.62 41.4347.00 53.4460.89 69.53 79.54 104.6 138.3 159.3 26.97 30.42 34.4339.08 44.50 50.82 58.18 66.76 76.79 88.50 118.2158.7184.2 28.24 32.03 36.46|41.65 47.73 54.86 63.25 73.11 84.70 98.35 133.3 181.9212.8 29.53 33.67 38.55 44.3151.1159.1668.68 79.95 | 93.32 109.2 150.3 208,3245.7 30.82 35.3440.71 47.0854.6763.7174.4887.35 102.7 1211 | 169.4 238.5 283.6 32.13 37.05 42.93 49.97 58.40 68.53 80.70 95.34 113.0 134.2 190.7 272.9 327.1 33.45 38.79 45.2252.97 62.32 | 73.6487.35 104.0 124.1148.6 214.6 312.1377.2 34.78 40.5747.5856.08 66.44 79.06 94.46 1133 136.3 164.5 241.3 356,8434.7 48.8960.4075.40 95.03 120.8 154.8 199.6 259.1337.9442.6767.1 1.342 1,779 64.46 84.58 112.8152.7 209.3 290.3 406.5 573.8 815.11,164 2,400 4,9957,218 Period 40 Period 50 Requirements X 1. How much money does Amanda need now to fund her travels? 2. After speaking with a number of banks, Amanda learns she will only be able to invest her funds at 6%. How much does she need now to fund her travels? Print Done