Christine wants to take the next six years off work to travel around the world. She estimates her annual cash needs at $28.000 of she needs more, she work odd job). Chine beves funds. (Click the loon to view the present value annuity table.) (Click the icon to view the future value annuity table.) Requirements 1. 2. (Click the loon to view the present value table) (Click the loon to view the future value table.) How much money does Christine need now to fund her travels? After checking with a number of banks, Christine leams she'll be able to invest her funds only at 6%. How much does she need now to fund her trever? Requirement 1. How much money does Christine need now to fund her travels? Calculate how much money Christine needs now to fund her travels. (Round your answers to the nearest whole dollar.) With the 12% interest rate, Christine needs Requirement 2. After checking with a number of banks, Christine leams she'll be able to invest her funds only at 6%. How much does she need now to fund her travels? Calculate how much she needs to fund her travels If she didn't get the 12% interest rate she had originally planned. (Round your answers to the nearest whole dollar.) With a 6% interest rate, Christine would need If Christine's savings are eaming a lower interest rate (6%), she'll need to save to be able to withdraw $28,000 per year. Present Value of $1 5% 8% 12% 14% 20% 6% 0.952 0.943 0.926 10% 0.909 0.893 0.877 18% 16% 0.862 0.847 0.833 Periods 1% 2% 3% 4% Period 1 0.990 0.980 0.971 0.962 0.980 0.961 0.943 0.942 0.915 0.889 0.864 0.840 0.794 0.751 0.712 0.675 0.641 0.609 0.579 0.961 0.924 0.888 0.855 0.823 0.792 0.735 0.683 0.636 0.592 0.552 0.516 0.482 Period 2 0.925 0.907 0.890 0.857 0.826 0.797 0.769 0.743 0.718 0.694 Period 3 0.971 0.951 0.906 0.567 0.519 0.476 0.437 0.402 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Perlod 10 0.863 0.822 0.784 0.747 0.681 0.621 0.942 0.888 0.837 0.790 0.746 0.705 0.630 0.564 0.507 0.456 0.410 0.370 0.335 0.933 0.871 0.813 0.760 0.711 0.665 0.583 0.513 0.452 0.400 0.354 0.314 0.279 0.923 0.853 0.789 0.731 0.677 0.627 0.540 0.467 0.404 0.351 0.305 0.266 0.233 0.914 0.837 0.766 0.703 0.645 0.592 0.500 0.424 0.361 0.308 0.263 0.225 0.194 0.676 0.614 0.558 0.463 0.386 0.322 0.270 0.227 0.191 0.162 0.585 0.557 0.497 0.905 0.820 0.744 0.527 0.429 0.530 0.469 0.368 0.505 0.442 0.340 0.315 Period 11 0.896 0.804 0.722 0.650 Period 12 0.887 0.788 0.701 0.625 Period 13 0.879 0.773 0.681 0.601 Period 14 0.758 0.661 Period 15 0.743 0.642 0.870 0.861 0.577 0.555 0.481 0.417 Period 20 0.820 0.673 0.554 0.456 0.377 0.312 Period 25 0.780 0.610 0.478 0.375 Period 30 0.742 0.552 0.412 0.308 Period 40 0.672 0.453 0.307 0.208 0.295 0.233 0.231 0.174 0.142 0.097 0.350 0.287 0.397 0.319 0.257 0.237 0.195 0.162 0.135 0.208 0.168 0.137 0.112 0.263 0.239 0.290 0.229 0.182 0.145 0.116 0.093 0.205 0.160 0.125 0.099 0.078 0.183 0.140 0.108 0.084 0.065 0.073 0.051 0.037 0.026 0.038 0.024 0.016 0.010 0.057 0.033 0.020 0.012 0.007 0.004 0.022 0.011 0.005 0.003 0.001 0.001 0.149 0.104 0.092 0.059 0.215 0.146 0.099 0.046 Periods Period 1 Period 2 Period 3 Period 4 Period 5 1% 0.990 1.970 Period 6 Period 7 2% 0.980 1.942 2.941 2.884 3.808 4.713 3.902 4.853 Present Value of Annuity of $1 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 1.605 1.566 0.971 0.962 0.952 0.943 0.926 0.909 0.893 0.877 0.862 0.847 1.913 1.886 1.859 1.833 1.783 1.736 1.690 1.647 2.829 2.775 2.723 2.673 2.577 2.487 2.402 2.322 2.246 2.174 3.717 3.630 3.546 3.465 3.312 3.170 3.037 2.914 2.798 4.580 4.452 4.329 4.212 3.993 3.791 3.605 3.433 3.274 2.690 3.127 20% 0.833 1.528 2.106 2.589 2.991 5.795 5.601 3.498 3.326 4.288 4.039 3.812 3.605 Period 8 4.639 4.344 4.078 3.837 Period 9 4.327 4.439 5.417 5.242 5.076 4.917 4.623 4.355 4.111 3.889 3.685 6.728 6.472 6.230 6.002 5.786 5.582 5.206 4.868 4.564 7.652 7.325 7.020 6.733 6.463 6.210 5.747 5.335 4.968 8.566 8.162 7.786 7.435 7.108 6.802 6.247 5.759 5.328 4.946 4.607 4.303 4.031 Period 10 9.471 8.983 8.530 8.111 7.722 7.360 6.710 6.145 5.650 5.216 4.833 4.494 4.192 Period 11 10.368 9.787 9.253 8.760 8.306 7.887 7.139 6.495 5.938 5.453 5.029 4.656 Period 12 11.255 10.575 9.954 9.385 8.863 8.384 7.536 6.814 6.194 5.660 5.197 4.793 Period 13 12.134 11.348 10.635 9.986 9.394 8.853 7.904 Period 14 13.004 12.106 11.296 10.563 9.899 9.295 8.244 7.367 6.628 6.002 5.468 5.008 4.611 Period 15 13.865 12.849 11.938 11.118 10.380 9.712 8.559 7.606 6.811 6.142 5.575 5.092 4.675 Period 20 18.046 16.351 14.877 13.590 12.462 11.470 9.818 8.514 7.469 6.623 5.929 5.353 4.870 Period 25 22.023 19.523 17.413 15.622 14.094 12.783 10.675 9.077 7.843 6.873 6.097 5.467 4.948 Period 30 25.808 22.396 19.600 17.292 15.372 13.765 11.258 9.427 8.055 7.003 6.177 5.517 4.979 Period 40 32.835 27.355 23.115 19.793 17.159 15.046 11.925 9.779 8.244 7.105 6.233 5.548 4.997 7.103 6.424 5.842 5.342 4.910 4.533 Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 Period 11 Period 12 Period 13 Period 14 Period 15 Period 20 Period 25 Period 30 Period 40 1% 2% 3% 1.000 1.000 1.000 2.010 2.020 2.030 3.030 3.060 3.091 4.060 4.122 4.184 5.101 5.204 5.309 6.152 7.214 8.286 9.369 10.462 10.950 4% 5% 1.000 1.000 2.040 2.050 3.122 4.246 5.416 Future Value of Annuity of $1 10% 1.000 2.100 6.468 6.633 7.662 7.898 3.153 4.310 5.526 6.802 8.142 6% 8% 1.000 1.000 2.060 2.080 3.184 3.246 4.375 4.506 5.637 5.867 7.336 8.923 6.308 6.975 7.716 8.115 7.434 8.394 9.487 10.089 8.583 8.892 9.214 9.549 9.897 10.637 11.436 12.300 9.755 10.159 10.583 11.027 11.491 12.488 13.579 14.776 11.464 12.006 12.578 13.181 14.487 15.937 17.549 12% 14% 16% 18% 1.000 1.000 1.000 1.000 2.120 2.140 2.160 2.180 3.374 3.440 3.506 3.572 4.779 4.921 5.066 5.215 5.368 6.610 6.877 7.154 7.442 3.310 4.641 6.105 6.353 8.536 10.730 13.233 16.085 19.337 11.567 12.169 12.808 13.486 14.207 14.972 16.645 18.531 20.655 23.045 12.683 13.412 14.192 15.026 15.917 16.870 18.977 21.384 24.133 27.271 13.809 14.680 15.618 16.627 17.713 18.882 21.495 24.523 28.029 32.089 14.947 15.974 17.086 18.292 19.599 21.015 24.215 27.975 32.393 37.581 16.097 17.293 18.599 20.024 21.579 23.276 27.152 31.772 37.280 43.842 8.977 11.414 14.240 17.519 21.321 20% 1.000 2.200 3.640 9.442 12.142 15.327 19.086 23.521 9.930 12.916 16.499 20.799 25.959 25.733 28.755 32.150 30.850 34.931 39.581 36.786 42.219 43.672 50.818 51.660 60.965 48.497 59.196 72.035 115.380 146.628 186.688 22.019 24.297 26.870 29.778 33.066 36.786 45.762 57.275 72.052 91.025 28.243 32.030 36.459 41.646 47.727 54.865 73.106 98.347 133.334 181.871 249.214 342.603 471.981 34.785 40.568 47.575 56.085 66.439 79.058 113.283 164.494 241.333 356.787 530.312 790.948 1,181.882 48.886 60.402 75.401 95.026 120.800 154.762 259.057 442.593 767.091 1,342.025 2,360.757 4,163.213 7,343.858 Reference Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Perlod 8 Period 9 Period 10 Period 11 Period 12 Period 13 Period 14 Period 15 Period 20 Period 25 Period 30 Period 40 1% 1.010 1.020 1.040 1.030 1.061 1.041 1.082 1.051 1.104 2% 3% 1.020 1.062 1.072 1.126 1.149 1.172 1.083 1.094 1.195 1.105 1.219 Future Value of $1 5% 6% 8% 1.050 1.060 1.080 1.103 1.166 1.158 1.260 1.360 1.469 1.030 1.040 1.061 1.082 1.124 1.093 1.125 1.191 1.126 1.170 1.216 1.262 1.159 1.217 1.276 1.338 1.194 1.265 1.340 1.419 1.230 1.316 1.407 1.504 1.267 1.369 1.477 1.594 1.305 1.423 1.551 1.689 1.344 1.480 1.629 1.791 1.220 1.486 2.191 1.806 1.641 2.094 2.666 1.282 1.348 1.811 2.427 3.243 1.489 2.208 3.262 4.801 1.116 1.243 1.384 1.539 1.710 1.898 1.127 1.268 1.426 1.601 1.796 2.012 1.138 1.294 1.469 1.665 1.886 2.133 1.513 1.732 1.980 2.261 1.346 1.558 1.801 2.079 2.397 1.149 1.319 1.161 2.653 3.386 4.322 7.040 10% 1.100 1.210 1.331 1.464 1.611 12% 1.120 1.254 1.405 14% 16% 1.140 1.160 1.300 1.346 1.482 1.561 1.811 2.100 1.574 1.689 1.762 1.925 1.772 1.974 2.195 1.949 2.211 2.502 18% 1.180 1.392 1.643 1.939 2.288 1.587 2.436 2.700 1.714 2.826 3.185 1.851 2.144 2.476 3.278 2.853 10.699 3.759 1.999 2.358 2.773 3.252 3.803 4.435 2.159 2.594 3.106 3.707 4.411 5.234 2.332 2.853 3.479 4.226 5.117 6.176 7.430 2.518 3.138 3.896 4.818 5.936 7.288 8.916 2.720 3.452 4.363 5.492 6.886 8.599 2.937 3.797 4.887 6.261 7.988 10.147 12.839 3.172 4.177 5.474 7.138 9.266 11.974 15.407 6.727 9.646 13.743 19.461 27.393 38.338 6.848 10.835 17.000 26.462 40.874 62.669 95.396 10.063 17.449 29.960 50.950 85.850 143.371 237.376 10.286 21.725 45.259 93.051 188.884 378.721 750.378 1,469.772 3.207 4.661 4.292 5.743 20% 1.200 1.440 1.728 2.074 2.488 2.986 3.583 4.300 5.160 6.192