Anthony and Michelle Constantino just got married and received $29,000 in cash gifts for their wedding. How much will they have on their twenty-fifth anniversary if they place half of this money in a fixed-rate investment earning 6 percent compounded annually? Would the future value be larger or smaller if the compounding period was 6 months? How much more or less would they have earned with this shorter compounding period? Click on the table icon to view the FVIF table If they place half of this money, PV, in a fixed rate investment earning 6 percent compounded annually, the amount they will have, FV, on their twenty-fifth anniversary is $. (Round to the nearest cent.) Data Table 3.5% 1.035 1.071 1.109 1.191 1.148 n 1% 2% 3% 1 1.010 1.020 1.030 2 1.020 1.040 1.061 3 1.030 1.061 1.093 4 1.041 1.082 1.126 5 1.051 1.104 1.159 6 1.062 1.126 1.194 7 1.072 1.149 1.230 8 1.083 1.172 1.267 9 1.094 1.195 1.305 10 1.105 1.219 1.344 11 1.116 1.243 1.384 12 1.127 1.268 1.426 13 1.138 1.294 1.469 14 1.149 1.319 1.513 15 1.161 1.346 1.558 16 1.173 1.373 1.605 17 1.184 1.400 1.653 18 1.196 1.428 1.702 19 1.208 1.457 1.754 20 1.220 1.486 1.806 21 1.232 1.516 1.860 22 1.245 1.546 1.916 23 1.257 1.577 1.974 24 1.270 1.608 2.033 25 1.282 1.641 2.094 30 1.348 1.811 2.427 40 1.489 2.208 3.262 50 1.645 2.692 4.384 1.188 1.229 1.272 1.317 1.363 1.411 1.460 1.511 1.564 1.619 1.675 1.734 1.795 1.857 1.923 1.990 2.059 2.132 2.206 2.283 2.363 2.807 3.959 5.585 Compound Sum of $1 (FVIF) 4% 5% 6% 1.040 1.050 1.060 1.082 1.103 1.124 1.125 1.158 1.170 1.216 1.262 1.217 1.276 1.338 1.265 1.340 1.419 1.316 1.407 1.504 1.369 1.477 1.594 1.423 1.551 1.689 1.480 1.629 1.791 1.539 1.710 1.898 1.601 1.796 2.012 1.665 1.886 2.133 1.732 1.980 2.261 1.801 2.079 2.397 1.873 2.183 2.540 1.948 2.292 2.693 2.026 2.407 2.854 2.107 2.527 3.026 2.191 2.653 3.207 2.279 2.786 3.400 2.370 2.925 3.604 2.465 3.072 3.820 2.563 3.225 4.049 2.666 3.386 4.292 3.243 4.322 5.743 4.801 7.040 10.286 7.107 11.467 18.420 7% 8% 9% 1.070 1.080 1.090 1.145 1.166 1.188 1.225 1.260 1.295 1.311 1.360 1.412 1.403 1.469 1.539 1.501 1.587 1.677 1.606 1.714 1.828 1.718 1.851 1.993 1.838 1.999 2.172 1.967 2.159 2.367 2.105 2.332 2.580 2.252 2.518 2.813 2.410 2.720 3.066 2.579 2.937 3.342 2.759 3.172 3.642 2.952 3.426 3.970 3.159 3.700 4.328 3.380 3.996 4.717 3.617 4.316 5.142 3.870 4.661 5.604 4.141 5.034 6.109 4.430 5.437 6.659 4.741 5.871 7.258 5.072 6.341 7.911 5.427 6.848 8.623 7.612 10.063 13.268 14.974 21.725 31.409 29.457 46.902 74.358 10% 1.100 1.210 1.331 1.464 1.611 1.772 1.949 2.144 2.358 2.594 2.853 3.138 3.452 3.797 4.177 4.595 5.054 5.560 6.116 6.727 7.400 8.140 8.954 9.850 10.835 17.449 45.259 117.391 Print Done Done