Amanda wants to take the next six years off work to travel around the world. She estimates her annual cash needs at $26.000 (if she needs more, she will work odd jobs), Amanda believes she can invest her savings at 10% until she depletes her funds, (Click the icon to view Present Value of S1 table.) Click the icon to view Present Value of Ordinary Annulty of $1 table) (Click the icon to view Future Value of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of 51 table) Read the reguitements 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 $ 113.230 Requirement 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? (Round your answer to the nearest whole dollar) With a 6% interest rate, Amanda would need Present Value of $1 Periods 1% 2% 3% 4% 5% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% Period 1 10.990 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 0.980 0.961 0.943 0.925 0.907 0.890 0.873 0.857 0.8420.826 0.797 0.769 0.756 0.743 0.7180.694 Period 3 10.971 0.942 0.915 0.889 0.864 0.840 | 0.816 0.7940.772 0.751 0.712 0.675 0.658 0.641 0.609 0.579 Period 4 0.961 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 0.951 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 10.942 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 0.933 0.871 0.813 0.7600.7110.665 0.623 0.583 0.547 0.513 0,452 0.400 0.376 0,354 0.314 0.279 Period 8 0.923 0.853 0.789 0.731 0.6770,627 0.582 0.540 0.502 0.467 0.404 0.351 0.327 0.305 0.266 0.233 Period 9 0.914 0.837 0.766 0.703 0.6450.592 0.544 0.500 0.460 0.424 0.361 0.308 0.284 0.263 0.225 0.194 Period 10 0.905 0.820 0.744 0.676 0.614 0.558 0.5080.463 0.422 0.386 0.322 0.270 0.247 0.227 0.191 0.162 Period 11 0.896 0.804 0.722 0.650 0.585 0.527 0.475 0.429 0.3880.350 0.287 0.237 0.215 0.195 0.162 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 0.168 0.137 0,112 Period 13 0.879 0.773 0.681 0.601 0.530 0.4690.415 0.368 0.326 0.290 0.229 0.182 0.163 0.145 0.116 0.093 Period 14 0.870 0.758 0.661 0,577 0.505 0,442 0.388 0.340 0.299 0.263 0.205 0.1600.141 0.125 0.099 0.078 Period 15 0.861 0.743 0.642 0,555 0.4810,417 0.362 0,315 0.275 0.239 0.183 0.1400.123 0.108 0.084 0.065 Print Done Period 16 0.853 0.7280.623 0.534 0.458 0.394 0.339 0.292 0.252 0.218 0.163 0.123 0.1070.093 0.071 0.054 Period 17 0.844 0.714 0.605 0.513 0.436 | 0.371 0.317 0.270 0.231 0.198 0.146 0.108 0.093 0.080 0.060 0.045 Period 18 0.836 0.7000.587 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 0.828 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 0.820 0.673 0.554 0.456 0.377 0.312 0.2580.215 0.178 0.149 0.1040.073 0.061 0.051 0.037 0.026 Period 21 0.811 0.660 0.538 0.439 0.359 0.294 0.2420.199 0.1640.135 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 23 0.795 0.634 0.507 0.4060.326 0.262 0.211 0.170 0.138 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 0.1020.066 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 0.016 0.010 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 0.764 0.586 0.450 0.347 | 0.268 0.207 0.161 0.125 0.098 0.076 0.047 0.029 0.023 0.0180.011 0.007 Period 28 10.757 0.574 0.437 0.333 0.255 0.1960.150 0.116 0.090 0.069 0.042 0.026 0.0200.0160.0100.006 Period 29 0.749 0.563 0.424 0.321 0.243 0.185 0.141 0.107 0.0820.063 0.037 0.022 0.017 | 0.014 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 0.020 0,015 0,012 0.007 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 0.004 0.003 0.001 0.001 Period 50 10.608 0.372 0.228 0.141 0.087 0.054 0.034 0.021 0.013 0.009 | 0.003 0.001 0.001 0.001 Print Done reTeretice 8% Present Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 7% 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 1.9131886 1.8591.833 1.8081.783 1.759 1.736 1.6901.647 1.626 1.6051.566 1.528 Period 3 2.9412.884 2.8292.775 2.723 2.673 2.624 2.577 2.531 2.487 2.40223222.283 2.246 2.174 2.106 Period 4 3.902 3.808 3.717 3.630 3.5463,465 3.387 3.3123.240 3.170 3.037 2.914 2.855 2.798 2.690 2.589 Period 5 4.853 4.713 4.580 4.452 4.329 4.212) 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 3.889 3.784 3.685 3.498 3.326 Period 7 6,728 6.472 6.230 6.0025.786 5.582 5.389 5.206 5.033 4.8684.564 4.288 4.160 4.0393.812 3.605 Period 8 7.652 7.3257.020 6.733 6,463 | 6.210 5.9715.7475.535 5.335 4.968 4.639 | 4.4874.344 4.0783.837 Period 9 8.5668.162 7.786 7.435 7.108 6.802 6.5156,247 3.995 5.759 5.328 4.9464.7724.607 4.303 4.031 Period 10 9.471 8.9838.530 8.111 7.7227.360 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 8.306 7.887 7.499 7.139 6.805 6.495 5.9385.4535.234 5.0294.656 4.327 Period 12 11.255 10.575 9.954 9.385 8.8638.384 7.943 7.536|71616.814 6.1945.660 5.4215.197 4.793 4.439 Period 13 12.134 11.348 10.635 9.986 9.3948.853 8.358 7.904 7.487 7.103 6.424 5.842 5.583 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 7.3676.628 6.0025.724 5.468 5.008 4.611 Period 15 13.865 12.849 11.93811.118 10.380 9.712 9.108 8.559 8.061 7.606 6.811 6.142 5.8475.575 5.092 | 4.675 Period 16 14.718 13.57812.561 11.652 10.838/10.106 9.4478.851 8.313 7.824 69746.265 5.954 5,6695.1624.730 Period 17 15.562 14.292 13.166|12.166 11.27410.4771 9.763 9.122 8.544 8.022 7.1206.3736,047 5.749 5.222 4.775 Period 18 16.398 14.992 13.75412.65911.690 10.828 10.0599.3728.7568.2017.250 6.467 | 6.128 5.818 5.2734.812 Period 19 17.226 15.678 14.32413.13412.085|11.158 10.336 9.604 8.950 8.365 7.366 | 6.550 6.1985.877 5.316 4.844 Period 20 18.046 16.351 14.877| 13.590 12.462|11.470 10.594 9.818 9.129 8.5147.469 6.623 6.259 5.9295.353 4.870 Period 21 18.857 17.01115.415 14.02912.821|11.764 10.836 10.017 9.292 8.649 | 7.562 6.687 6.312 5.973 5.384 4.891 Period 22 19.660 17.658 15.93714.451 |13.163|12.042 11.06110,201 9.4428.772 | 7.645 6.743 6.3596.0115.410 4.909 Period 23 20.456 18.292 16,444 14.857 13.48912.303 11.272 10.371 9.5808.883 7.7186,792 6.399 6,044 5.432 4.925 Period 24 21.24318.914 16.936 15.247|13.799|12.550 11.46910.529 9.707 8.9857.784 6.835 6.4346.073 5,451 4.937 Period 25 22.023 19.523 17.413 15.622 14.09412.783 11.634 10.675 9.8239.077 | 7.8436.873 6.464 6.097 5.467 4.948 Period 26 22.795 20.121 17.877 15.983 14.375|13.003 11.826 10.810 9.929 9.1617.896 6,906 6.4916.118 5.480 4956 Period 27 23.560 20.707 18.327 16,330 14.64313.211 11.987 10.93510.027 9.237 7.943 6.935 6.514 6.136 5.492 4.964 Period 28 24.316 21.28118.764 16.663 14.898|13.406 12.137.11.051 10.116 9.3077.984 6.9616.534 6.1525.502 4.970 Period 29 25.066 21.844 19.188 16.984|15.141 13.591 12.278 11.15810.1989.370 8.022 6.9836,551 6.166 5.510 4.975 Period 30 25.808 22 396 19.600 17.292 15.372 13.765 12.409 11.258 10.274 9.4278.0557.003 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 7.1056.642 6.233 5.548 4.997 Period 50 39.196 31.42425.730 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 Future Value of $1 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% 7% 8% 9% 10% 12% 14% 15% 1.010 1.020 1.030 1.040 1.050 1.060 1.070 1.080 1.090 1.100 1.120 1.140 1.150 1.020 1.040 1.061 1.082 1.103 1.124 | 1.145 | 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 1.159 1.217 1.276 1.338 1.403 1.469 1.539 1.611 1.762 1.925 2.011 1.062 1.126 1.194 | 1.265 | 1.3401.419 1.501 1.587 1.677 1.772 1.974 2.1952.313 1.072 1.149 1.230 1.316 1.407 1.504 1.606 1.7141.828 1.949 2.211 2.502 2.660 1.083 1.1721.267 1.369 1.4771.594 1.718 1.851 1.993 2.144 2.476 2.853 3.059 1.094 1.195 1.305 | 1.423 1.551 1.689 1.8381.999 2.1722.3582.7733.2523.518 1.105 1.219 1.344 1.480 1.629 1.791 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 4.2264.652 1.127 1.268 1.426 1.601 1.796 2.0122.252 2.518 2.813 3.138 3.896 4.818 5.350 1.138 1.294 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 1.732 1.980 2.261 2.579 2.937 3.342 3.798 4.887 6.2617.076 1.161 1.346 1.558 1.801 2.079 2.3972.759 3.172 | 3.6424.177 5.474 7.1388.137 Period 11 Period 12 Period 13 Period 14 Period 15 Print Done Reference 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 1.173 1.373 1.605 1.873 2.183 2.540 2.952 3.426 3.970 4.595 6.130 8.1379.358 1.184 1.400 1.653 1.948 2.292 2.693 3.159 3.700 4.328 5.054 6.866 9.276 10.76 1.196 1.428 1.702 2.026 2.407 2.854 3.380 3.996 4.717 5.560 7.690 10.58 12.38 1.208 1.457 | 1.754 2.107 2.527 3.026 3.6174.316 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 6.109 7.400 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 1.577 1.9742.465 3.0723.820 4.741 5.871 | 7.258 8.954 13.55 20.36 24.89 1.270 1.608 2.033 2.563 3.225 4.049 5.0726.341 7.911 9.850 15.18 23.21 28.63 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 2.157 2.772 3.556 4.5495.8077.396 9.399 11.92 19.04 30.1737.86 1.308 1.707 2.221 2.883 3.733 4.822 6.2147.988 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 14.4223.88 39.2050.07 1.335 1.776 2.357 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 1.489 2.208 3.262 4.801 7.040 10.29 14.9721.72 31.41 45.2693.05 188.9 267.9 1.645 2.692 4.384 7.107 11.47 18.42 29 46 46.90 | 74.36117.4 289.0 700.21,084 Period 40 Period 50 Print Done Future Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% Period 1 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 Period 2 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 Period 3 3.0303.060 3.091 3.122 3.153 3.1843.215 3.246 3.278 3.310 3.3743.440 3.473 Period 4 4.0604.122 4.1844.246 | 4.310 4.375 4.440 4.506 4.573 4.641 4.779 4.921 4.993 Period 5 5.101 5.2045.309 5.4165.526 5.637 5.7515.8675.985 6.105 6.353 6.610 6.742 Period 6 6.152 6.308 6.468 6.633 | 6.802 6.9757.1537.336 | 7.523 7.716 8.115 8.536 8.754 Period 7 7.214 7.4347.6627.898 8.142 8.394 8.654 8.9239.2009.487 10.09 10.73 11.07 Period 8 8.286 | 8.5838.8929.214 9.549 9.897 10.260 10.64 | 11.03 11.44 12.30 13.23 13.73 Period 9 9.369 9.755 10.16 10.58 | 11.03 11.49 11.98 12.49 13.02 13.58 14.78 16.09 16.79 Period 10 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 Period 11 11.57 12.17 12.8113.49 14.21 14.97 15.78 16.65 17.56 18.53 20.65 23.0424.35 Period 12 12.68 13.41 14.1915.03 15.92 16.87 17.8918.98 20.14 21.38 24.13 27.2729.00 Period 13 13.81 14.68 15.62 16.63 17.71 18.88 20.14 21.50 22.95 24.52 28.03 32.09 34.35 Period 14 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 Period 15 | 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 Print Done Period 16 Period 17 Period 18 Period 19 Period 20 17.26 18.64 20.16 21.82 23.66 25.67 27.89 30.32 33.00 35.95 42.75 50.98 55.72 18.43 20.0121.76 23.70 25.84 28.21 30.84 33.75 36.97 40.54 48.88 59.12 65.08 19.61 21.41 23.41 25.6528.13 30.91 34.00 37.45|41.30 45.60 55.75 | 68.39 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 29.7833.0736.79 41.00 45.76 51.16 57.28 72.05 91.02 102.4 23.24 25.78 28.68 31.9735.72 39.99 44.87 50.42 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 28.85 32.45 36.62 41.43 | 47.00 53.44 | 60.89 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 76.7988.50 118.2 158.7184.2 28.24 32.03 36.46 41.65 47.73 54.86 63.25 73.11 84.70 | 98.35133.3 181.9 212.8 Period 21 Period 22 Period 23 Period 24 Period 25 Period 26 Period 27 Period 28 Period 29 Period 30 29.53 33.6738.55 44.31 51.1159.1668.68 79.95 93.32 109.2 150.3 208.3245.7 30.82 35.3440.7147.08 54.67 63.71 74.4887.35 102.7 121.1 169.4238.5 283.6 32.13 37.05 42.9349.97 58.40 68.53 80.70 95.34 113.0 134.2 190.7 272.9 327.1 33.45 38.79 45.22 52.97 62.32 | 73.6487.35 104.0124.1148.6 214.6 312.13772 34.78 40.5747.58 56.08 66.44 79.06 94.46 113.3136.3 164.5 241.3 356.8434.7 Period 40 48.8960.40 75.40 95.03 | 120.8 154.8 199.6 259.1337.9442.6767.1 1,342 1,779 64.46 84.58 112.8 152.7209.3 290.3 406.5 573.8 815.11.164 2,400 4.995 7,218 Period 50 i Requirements 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