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Table 11-2:

7. [0/3.33 Points] DETAILS PREVIOUS ANSWERS BRECMBC9 11.11.015.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANC You wish to have $21,000 in 8 years. Use Table 11-2 to create a new table factor, and then find how much you should invest now in $) at 6% interest, compounded quarterly in order to have $21,000, 8 years from now. (Round your answer to the nearest cent.) $ 13040.85 TABLE 11-2 Present Value Table (Present Value of $1 at Compound Interest) 1% 2% 3% 4% 5% 6% 7% 8% Periods Periods 1 2 % 0.99502 0.99007 0.98515 0.98025 0.97537 1% 0.98522 0.97066 0.95632 0.94218 0.92826 0.9910 0.98030 0.97059 0.96098 0.95147 3 4 5 0.98039 0.96117 0.94232 0.92385 0.90573 0.97087 0.94260 0.91514 0.88849 0.86261 0.961 54 0.92456 0.88900 0.85480 0.82193 0.95238 0.90703 0.16384 0.82270 0.78353 0.94340 0.8900 0.83%62 0.79 209 0.74726 0.93458 0,87344 0.81630 0.76290 0.71299 0.92593 0.85734 0.79383 0.73503 0.680S 1 2 3 4 5 6 7 8 0.97052 0.96569 0.96089 0.95610 0.95135 0.94205 0.93272 0.92348 0.91434 0.90529 0.91454 0.90103 0.88771 0.87459 0.86167 0.88797 0.87056 0.85349 0.83676 0.8 2035 0.83748 0.81309 0.78941 0.76642 0.74409 0.79031 0.75992 0.73069 0.702 59 0.67556 0.74622 0.71068 0.67684 0.61461 0.61391 0.70496 0.66506 0.62741 0.59 190 0.55839 0.66644 0.62275 0.58201 0.54393 0.50835 0.63017 0.58349 0.54027 0.50025 046319 6 7 8 9 10 9 10 11 12 13 14 15 0.94661 0.94191 0.93722 0.93256 0.92792 0.89632 0.88745 0.87866 0.86996 0.86135 0.84893 0.83639 0.82403 0.81185 0.79985 0.80426 0.78849 0.77303 0.75788 0.74301 0.72242 0.70138 0.68095 0.66112 0.64186 0.64958 0.62460 0.60057 0.57748 0.555 26 0.58468 0.55684 0.53032 0.50507 0.48102 0.52679 0.49697 0.46884 0.44230 0.41727 0.47509 0.44401 0.41496 0.38782 0.36245 0.42888 0.39711 0.36770 0.34046 0.31524 11 12 13 14 15 16 17 18 19 20 0.92330 0.91871 0.91414 0.90959 0.90506 0.85282 0.84438 0.83602 0.82774 0.81954 0.78803 0.77639 0.76491 0.75361 0.74247 0.72845 0.71416 0.70016 0.68643 0.67297 0.62317 0.60502 0.58739 0.57029 0.55368 0.53391 0.51337 0.49363 0.47464 0,45639 0.45811 0.43630 0.41552 0.39573 0.37689 0.39365 0.37136 0.35034 0.33051 0.31180 0.33873 0.31657 0.29586 0.27651 0.25842 0.29189 0.27027 0.25025 0.23171 0.21455 16 17 18 19 20 21 22 23 24 25 0.90056 0.89608 0.89162 0.88719 0.88277 0.81143 0.80340 0.79544 0.78757 0.77977 0.73150 0.72069 0.71004 0.69954 068921 0.6.5978 0.64684 0.63416 0.62172 060953 0.53 755 0.52189 0.50669 0.49193 0.47761 0.43883 0.421 96 0.40573 0.39012 0.37512 0.35894 0.34185 0.32557 0.31007 0.29530 0.29416 0.27751 0.26180 0.24698 0.23300 0.24151 0.22571 0.21095 0.197 15 0.18425 0.19866 0.18394 0.1 7032 0.15770 0.14602 21 22 23 24 25 Periods 1 2 3 4 5 9% 0.91743 0.84168 0.77218 0.70843 0.64993 10% 0.90209 0.82645 0.75131 068301 0.62092 11% 0.90090 0.81162 0.73119 065873 0.59345 12% 0.89286 0.79719 0.71178 063552 0 56743 13% 0.88496 0.78315 0.69 305 0.61332 0.54276 14% 0.87719 0.76947 0.67497 0.59208 0.51937 15% 0.86957 0.75614 0.65752 0.57175 0.49718 16% 0.86207 0.74316 0.64066 0.55229 0.47611 17% 0.85470 0.73051 0.62437 0.53365 0.45611 18% 0.84746 0.71818 0.60863 0.51579 0.43711 Periods 1 2 3 4 5 6 7 8 9 10 0.59627 0.54703 0.50187 046043 0.42241 0.56147 0.51316 0.46651 042410 0.38554 0.53464 0.48166 0.43393 0.39092 0.35218 0.50663 045215 0.40388 0.36061 0.32197 0.48032 0.42506 0.37616 0.33288 0.29459 0.45559 0.39964 0.35056 0.31751 0.26974 0.43233 0.37594 0.32690 0.28426 0.24718 0.41044 0.35383 0.30503 0.26295 0.22668 0.38984 0.33320 0.28478 0.24340 0,20804 0.37043 0.31393 0.26604 0.22546 0.19106 6 7 8 9 TO 11 12 13 14 15 0.38753 0.35553 0.32618 0.29925 0.27454 0.35049 0.31863 0.28966 0.26333 0.23939 0.31728 0.28584 0.25751 0.23199 0.2000 0.28748 0.25668 0.22917 0.20462 0.18270 0.26070 0.23071 0.20416 0.18068 0.15989 0.23662 0.20756 0.18207 0.15971 0.14010 0.21494 0.18691 0.16253 0.14133 0.12289 0.19542 0.16846 0.14523 0.12520 0.10793 0.17781 0.15197 0.12989 0.11102 0.09489 0.16192 0.13722 0.1 1629 0.09855 0.08352 11 12 13 14 15 16 17 18 19 20 0.25187 0.23107 0.21199 0.19449 0.17843 0.21763 0.19784 0.17986 0.16351 0.14864 0.18829 0.16863 0.1 5282 0.13768 0.12403 0.16312 0.14564 0.1 3004 0.11611 0.10367 0.14150 0.12522 0.11081 0.09806 0.08678 0.12289 0.10780 0.09456 0.08295 0.07276 0.10686 0.09293 0.08081 0.07027 0.06110 0.09304 0.08021 0.06914 0.05%61 0.05139 0.081 10 0.06932 0.05925 0.05064 0.04328 0.07078 0.05998 0.05083 0.04308 0.03651 16 17 18 19 20 21 22 23 24 25 0.16370 0.15018 0.13778 0.1 2640 0.1 1597 0.13513 0.12285 0.1 1168 0.10153 0,09230 0.11174 0.10067 0.02069 0.08170 0.07361 0.09256 0.08264 0.07379 0.06588 0.05882 0.07680 0.06796 0.06014 0.05323 0.04710 0.06383 0.05599 0.04911 0.04308 0.03779 0.05313 0.04620 0.04017 0.03493 0.03038 0.04430 0.03819 0.03292 0.02838 0.02447 0.03699 0.03162 0.02702 0.02310 0.01974 0.03094 0.02622 0.02222 0.01883 0.01596 21 22 23 24 25 The values in Table 11-2 were generated by the formula PV = n is the total number of periods. 1 (1 + i) rounded to five decimal places, where i is the interest rate per period and