Charles and Susan Garfield invested $7,600 in a savings account paying 7% annual interest when their daughter, Angela, was born. They also deposited $1,400 on each of her birthdays until she was 14 (including her 14th birthday). Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) How much was in the savings account on her 14th birthday (after the last deposit)? (Round answer to 2 decimal places, e.g. 25.25.) Amount on 14th birthday $ Finding present value if discounted for two periods The present value of 1 may also be determined through tables that show the present value of 1 for n periods. In Table3,n is the number of discounting periods involved. The percentages are the periodic interest rates or discount rates. and the 5 -digit decimal numbers in the The following two demonstration problems (Illustrations G.12 and G.13) illustrate how to use Table 3