Carol wants to take the next five years off work to travel around the world. She estimates her annual cash needs at $29,000 (if she needs more, she will work odd jobs). Carol believes she can invest her savings at 8% until she depletes her funds. (Click the icon to view Present Value of $1 table.) 5 (Click the icon to view Present Value of Ordinary Annuity of $1 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 Carol need now to fund her travels? (Round your answer to the nearest whole dollar.) With the 8% interest rate, Carol needs $ 1. Requirement 2. After speaking with a number of banks, Carol learns she will only be able to invest her funds at 4%. How much does she need now to fund her travels? (Round your answer to the nearest whole dollar.) With a 4% interest rate, Carol would need $ If Carol's savings are earning a lower interest rate (4%). she will need to save less to be able to withdraw $29,000 per year. Requirements - X 1. How much money does Carol need now to fund her travels? 2. After speaking with a number of banks, Carol learns she will only be able to invest her funds at 4%. How much does she need now to fund her travels? Print Done i Reference Reference Future Value of $1 0.630 0.596 1.230 2.211 3.252 o Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% 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 0.980 0.961 0.943 0.925 0.9070.890 0.873 0.8570 .842 0.826 0.797 0.769 0.756 0.743 0.7180.694 3 0.971 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 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 0.5520.516 0.482 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 6 0.942 0.888 0.837 0.790 0.746 0.705 0.666 0.630 0.564 0.507 0.456 0.432 0.410 0.370 0.335 0.933 0.871 0.711 0.665 0.623 0.583 0.547 0.513 0.452 0.400 0.376 0.354 0.314 0.279 0.923 0.853 0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.404 0.327 0.305 0.266 0.233 0.914 0.837 0.703 0.645 0.592 0.544 0.500 0.460 0.424 0.361 0.284 0.263 0.225 0.194 0.905 0.820 0.614 0.558 0.508 0.463 0.422 0.386 0.322 0.247 0.227 0.191 0.162 0.896 0.804 0.527 0.475 0.429 0.388 0.350 0.287 0.215 0.1950.162 0.135 0.557 0.497 0.444 0.397 0.319 0.187 0.168 0.137 0.112 0.530 0.469 0.415 0.290 0.163 0.145 0.116 0.093 0.505 0.442 0.388 0.340 0.263 0.141 0.125 0.099 0.078 0.481 0.417 0.362 0.315 0.275 140 0.123 0.108 0.084 0.065 0.853 0.728 0.534 0.458 0.394 0.339 0.292 0.252 0.218 0.163 0.123 0.107 0.093 0.071 0.054 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 0.836 0.700 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 0.828 0.686 0.570 0.475 0.396 0.331 0.277 0.164 0.116 0.083 0.070 0.060 0.043 0.031 20 0.820 0.673 0.554 0.456 0.377 0.312 0.258 0.215 0.178 0.149 0.104 0.073 0.061 0.051 0.037 0.026 21 0.811 0.660 0.538 0.439 0.359 0.294 0.24 0.199 0.164 0.135 0.093 0.064 0.053 0.044 0.031 0.022 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 23 0.795 0.634 0.507 0.406 0.326 0.262 0.211 0.170 0.138 0.112 0.074 0.049 0.040 0.033 0.022 0.015 24 To 700 Loco L200 L 200 10 240 LO 17 1007 10:10 1000 1000 Lonce Lo Lon2 Lonno L040 L, 021 1.898 0.887 no Periods 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 1.0821.103 1.1241.145 1.166 1.1881.210 1.254 1.300 1.323 1.030 1.061 1.093 1.125 1.158 1.191 1.225 1.260 1.295 1.331 1.405 1.482 1.521 1.041 1.082 1.126 1.170 1.216 1.2621.311 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 2011 1.062 1.194 1.265 1.340 1.419 1.501 1587 1.677 1.772 1.974 2.195 2.313 1.072 1.316 1.407 1.504 1.606 1.714 2.502 2.660 1.083 1.369 1.477 15041718 1.594 854 1993 244 2476 28 2.853 1.094 1.305 1.423 1.551 1.689 2.773 1.105 1.344 1.480 1.629 1.791 2.594 3.106 3.707 1.384 1.539 1.710 1.796 2.012 1.665 1.886 1.732 1.980 2.261 2.079 2.397 1.873 2183 2.540 6.130 8.137 1.184 1.948 2.292 2.693 6.866 9.276 1.196 1.702 2.0262.407 2.854 3.380 7.690 10.58 1.208 1.754 2.107 2.527 3.026 3.617 4.316 5.142 6.116 8.613 12.06 1.220 1.486 1.806 2.191 2653 3.207 3.870 4.661 5.604 6.727 9.646 13.74 1.232 1.516 1.860 2.279 2.786 3.400 4.141 5.034 6.109 7.400 10.80 15.67 18.82 1.245 1.546 1.916 2.370 2.925 3.604 4.430 5.437 6.659 8.140 12.10 17.86 4.741 5.871 | 7.258 8.954 13.55 20.36 24.89 L270 l cno 2022 2021 2020 Lun 07 10 24 17.044 no 10122.24 170 02 0.350 & 1.601 * 0.368 0.328 $.499 0.870 0.239 1.173 5.054 0.232 0.194 Reference Reference Periods 1 N 2.080 NA VOWN o 4486 Future Value of Ordinary Annuity of $1 1% 2% 3% 4% 5% 6% 7% 8% 9% 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2.010 2.020 2030 2.040 2.050 2.060 2.070 2.090 3.030 3.060 3.091 3.122 3.153 3.1843.215 3.278 4.060 4.122 4.1844.246 4.310 4.375 5.101 5.204 5.309 5.416 5.526 5.637 6.308 6.468 6.633 6.802 6.975 7.6627.898 8.142 8.394 8.286 8.583 8.892 9.214 9.549 9.897 9.369 9.755 10.16 10.58 11.03 | 11.49 10.46 10.95 11.46 12.01 12.58 13.18 13.82 11.57 12.17 12.81 13.49 14.21 14.97 12.68 13.41 14.19 4.160 10% 12% 14% 15% 1.000 1.000 1.000 1.000 2.100 2.120 2.140 2.150 3.310 3.374 3.440 3.473 4.641 4.779 4.921 4.993 6.105 6.353 6.610 6.742 7.716 8.115 8.536 8.754 9.487 | 10.09 10.73 11.07 11.44 12.30 13.23 13.73 13.58 14.78 16.09 16.79 15.94 17.55 19.34 20.30 .53 20.65 23.04 24.35 24.13 NO 3.812 7.434 Present Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% 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 1.913 1.886 1.859 1.8331.808 1.783 1.759 1.736 1.6901.647 1.626 1.605 1.566 1.528 2.829 2.775 2.723 2.673 2.624 2.577 2.531 2.487 2.402 2.283 2.246 2.174 2.106 3.717 3.630 3.546 3.465 3.387 3.240 3.170 2.855 2.798 2.690 4.580 4.452 4.329 4.212 3.890 3.791 3.352 3.274 3.127 5.2425.076 4.917 4.355 3.784 3.685 3.498 6.0025.786 5.582 5.033 4.868 4.039 7.020 6.733 6.463 6.210 5.971 5.335 4.487 4.344 4.078 8.1627.786 7.435 7.108 6.802 6.515 5.9955.759 4.946 4.772 4.607 4.303 9.471 8.983 | 8.530 8.111 7.7227.360 7.024 6.710 6.418 6.145 5.650 5.216 5.019 4.833 4.494 4.192 10.368 9.787 9.2538.760 8.306 7.887 7.499 6.805 6.495 5.938 5.453 5.234 5.029 12 111.255 10.575 9.954 9.3858.863 8.384 | 7.943 | 7.536 | 7.1616.814 5.660 5.421 5.197 12.134 11.348 10.635 9.986 9.394 8.853 8.358 7.904 7.487 7.103 5.8425.583 5.342 13.004 12.106 11.296 10.563 9.899 9.295 8.745 8.244 7.786 7.367 6.628 6.002 5.724 5.468 13.865 12.849 11.93811.118 10.380 9.712 9.108 8.559 8.061 7.606 6.811 6.142 5.847 5.575 16 14.71813.57812.561 11.652 10.83810.106 9.447 | 8.851 8.313 7.824 6.9746.265 5.954 | 5.669 15.562|14.292 13.166 12.166 11.274 10.477 9.763 9.122 8.544 8.022 7.120 6.373 6.047 5.749 16.398 14.992 13.754 12.659 11.690 10.828 10.059 9.3728.756 8.201 6.467 6.128 5.818 17.22615.67814.32413.134 12.08511.15810.336 9.604 8.950 8.365 6.550 6.198 5.877 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 5.929 5.353 4.870 18.857|17.011 15.415 14.029 12.82111.764 10.836 10.017 9.292 8.649 | 7.562 | 6.687 6.3125.973 5.384 4.891 19.660 17.658 15.937 14.451 13.163 12.042 11.061 10.2019.4428.772 7.645 6.743 6.3596.011 5.410 4.909 20.456|18.292 16.444 14.857 13.489 12.30311.272 10.371 9.580 | 8.883 7.718 6.792 6.399 6.044 5.432 | 4.925 Lal ulcoclac L 700L celicnlan.cala zalo.co L7 70 con le aule.Az 5.535 N000 15.97 17.09 Saug 9988 SE 2 SSSSSS 8 w gog 7.366 NNNS 25.78 27.30 172 28.85 Lol 26.87 28.68 30.54 32.45 31.97 39.99 44.87 34.25 43.39 49.01 55.46 36.62 41.43 47.00 53.44 60.89 20.no Luca la o CO col 91.02 102.4 00 | 81.70 104.8 118.8 40 92.50 120.4 137.6 .54 104.6 138.3 159.3 00 A 1440 144042