Check my work 1 Josh Collins plans to buy a house for $210,000. If that real estate is expected to increase in value by 3 percent each year, what will its approximate value be six years from now? Use Exhibit 1:A (Round time value factor to 3 decimal places and final answer to the nearest whole number.) 2 points Approximate value eBook Print References 2 Check my work A family spends $46,000 a year for living expenses. If prices increase by 2 percent a year for the next three years, what amount will the family need for their living expenses after three years? Use Exhibit 1A (Round time value factor to 3 decimal places and final answer to the nearest whole number.) 2 points Future living expenses 3 What would be the yearly earnings for a person with $6,000 in savings at an annual interest rate of 2.5 percent? Yearly earnings 2 points Check my work 5 Carla Lopez deposits $3,400 a year into her retirement account. If these funds have an average earning of 9 percent over the 40 years until her retirement, what will be the value of her retirement account? Use Exhibit 1.B (Round time value factor to 3 decimal places and final answer to 2 decimal places.) 2 points Future value of retirement account 9 20 10 1.070 1.080 1.090 1.110 1.100 1.210 1.225 11295 1.300 1.469 144 1611 1.539 1.605 1.403 1.501 1.000 1.710 1.828 1.9491 2.070 1.00 2.172 2.356 2.558 1.999 2.150 2853 Exhibit 1-A Future value (compounded sum) of $1 after a given number of time periods Period 3 4 6% 1 1,010 1.020 1.030 1,040 1.050 1.000 1020 1.040 1.061 1.082 1.103 1.030 1003 1.15H 1.101 112 1.216 1.262 1.051 1.104 1.159 1.212 1.270 1.30 1.126 1.410 2 1.072 1.230 1.376 1.407 1.504 1.00 1.267 1.369 1.477 9 1.004 1.195 1.305 1.551 1.680 10 1.105 1.219 1.344 1.480 1.620 1.701 11 1.384 1.539 1./10 1.890 12 1.426 1.601 1.796 2.012 13 1.469 1.665 1.6 2.133 1.149 1.513 1.980 2.261 15 1.161 1.346 1.556 1.800 2.079 2.397 16 1.173 1.605 1.873 2.183) 2.540 17 1.400 1.653 1.948 2292 2.603 1.196 1.428 1.702 2.026 2407 19 1.200 1.4571 1.754 3,026 20 1.220 1.486 1.806 2.191 2.653 25 1.641 2.094 2.666 3376 4.292 1.8111 3.243 4.322 5.743 40 1.489 2.208 3.262 4.801 7.040 10.200 50 1.645 2.692 4.384 7.107 11,467 18.420 3.152 3:49 2.510 2.7201 3.066 3.4521 2.105 2.252 2.410 2.579 2.759 2.952 3.159 3.642 3.970 4.595 5.054 5.311 5.895 3.172 3.426 3.700 3990 4.316 4.661 2.107 3.207 8.002 13.505 3.617 3.870 5.427 7612 14.974 29.457 5.142 5.604 8.623 13.268 31.4091 74.358 6.116 6.727 10.835 17.449 45.259 117391 10.063 21.725 46.902 65001 10% Period 12 1.120 30% 1.300 1.200 1.250 OCIT 2 3 4 5 6 1.1501 1:323 1.521 1.749 2.011 2.3131 2.660 16% 1.160 1.346 1.561 1.811 2.100 2.436 2.820 3.278 3.803 18% 1.180 1.392 1.643 1.939 2.288 2.700 3.185 3.759 4.435 19% 1.100 1.416 1.685 2.005 2.336 2.840 3.379 2.074 2.488 1.953 2.441 3.052 1.443 1.630 1.842 27082 2.353 2.656 3.004 3395 3.836 2.850 3.713 3.583 4.300 5.160 4.708 5.960 7.451 B 1.405 1.574 1.762 17974 2.211 2.476 2.773 3.106 3.479 3.896 4.363 4.8.87 5.474 6.130 6.866 7.090 8.613 9 10 5.117 1.140 1.300 1.482 1.619 1.925 2.195 2.502 2.85 3252 3.707 4.226 4.818 5.4021 6.261 7.138 8.137 9.276 10.5751 12.0561 13.743 26.462 50.950 166.8841 17% 1.170 1.369 1.002 1.874 2.192 2.565 3.007 3.511 4.108 4.807 5.624 6.580 7.699 9.007 10.5391 12.330 14.426 16.879 19.748 23.106 50.656 111.005 533.669 7.430 67916 10.699 4.785 5.695 6.777 8.064 9.596 11420 13.590 16.172 19.244 3.518 4.046 4.652 5.350 6.153 7.070 8.137 9.356 10.761 12.375 14.232 16.367 32.919 66.212 267.8641 12 13 144 15 16 17 18 19 20 25 4.898 6.275 8.157 10.604 13.756 17.922 232 30.288 319.374 51.186 66.542 36,504 6.176 7.288 8.599 10.147 11.9741 14.129 16.672 19.673 23.214 27.393 62.669 6.254 7.067 7.986 9.024 10.197 11.523 21.231 39.116 132.7821 6.886 7.900 9.266 10.746 12.468 14.463 16.777 19.461 40,672 85.650 378.721 15.407 18.466 22.186 26.623 31.9-18 11.642 14,552 18.190 22.737 28.422 35,527 44.409 55.511 69.389 0736 264.698 507794 7523.164 70064.923 27.252 32.429 77.388 184.675 1051.668 146.192 190.050 705.641 2019 36118.865 497922 95.396 237376 1409.772 9100 430 17.00 750,378
