Current Attempt in Progress Kenneth How plans to buy an automobile and can deposit $5,000 toward the purchase today. If the annual interest rate is 10%, how much can Kenneth expect to have as a down payment in 12 years? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 52.75.) Click here to view the factor table. Amount $

Kenneth How plans to buy an automobile and can deposit $5,000 toward the purchase today. If the annual interest rate is 10%, how much can Kenneth expect to have as a down payment in 12 years? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, eg. 52.75.) Click here to view the factor table. Amount $ TABLE 1 Future Value of 1 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \\ \hline \multicolumn{11}{|l|}{ (n) } \\ \hline 0 & 1.00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 \\ \hline 1 & 1.04000 & 1.05000 & 1.06000 & 1.07000 & 1.08000 & 1.09000 & 1.10000 & 1.11000 & 1.12000 & 1.15000 \\ \hline 2 & 1.08160 & 1.10250 & 1.12360 & 1.14490 & 1.16640 & 1.18810 & 1.21000 & 1.23210 & 1.25440 & 32250 \\ \hline 3 & 1.12486 & 1.15763 & 1.19102 & 1.22504 & 1.25971 & 1.29503 & 1.33100 & 1.36763 & & \\ \hline 4 & 1.16986 & 1.21551 & 1.2 & 1. & 6049 & 1.41158 & 1.46410 & 1.51807 & 1.57352 & .74901 \\ \hline 5 & 1.21665 & 1.27628 & 1.3 & 1. & 3 & 52 & 1.61051 & 1.68506 & 1.76234 & 2.01136 \\ \hline 6 & 1.26532 & 1.34010 & 1.41852 & 1.50073 & 1.58687 & 1.67710 & 1.77156 & 1.87041 & 1.97382 & 231306 \\ \hline 7 & 1.31593 & 1.40 & & 1.605 & & & & & & \\ \hline 8 & 1.36857 & 1.47746 & 1.59385 & 1.71819 & 93 & 56 & 2.14359 & 2.3 & & 5902 \\ \hline 9 & 1.42331 & 1.55133 & 1.68948 & 1.83846 & 1.99900 & 2.17189 & 2.35795 & 2.55803 & & 3.51788 \\ \hline 10 & 1.48024 & 1.62889 & 1.79085 & 1.96715 & & 2.36736 & 2.5 & 2.83942 & 3.10585 & 4.04556 \\ \hline 11 & 1.53945 & 1.71034 & 1.89830 & 2,10485 & 2. & 2.58 & 2.8 & 3.1 & & 4.65239 \\ \hline 12 & 103 & 86 & & & & 2.81 & & & & \\ \hline 13 & 1.66507 & 1.88565 & 2.13293 & 2.40985 & 2.71962 & 3.06581 & 227 & 3.8 & 49 & 6.15279 \\ \hline 14 & 1.73168 & 1.97993 & 2.26090 & 2.57853 & 2.93719 & 3.34173 & 3.79750 & 4.31044 & 4.88711 & 7.07571 \\ \hline 15 & 1.80094 & 2.07893 & 2.39656 & 2.75903 & 3.17217 & 3.64248 & 4.17725 & 4.78459 & 5.47357 & 8.13706 \\ \hline 16 & 1.87298 & 2.18287 & 2.54035 & 2.95216 & & 3,97031 & 4.59497 & 5.31089 & 6.13039 & 9.35762 \\ \hline 17 & 1.94790 & 2.29202 & 7 & & & 4.32763 & 5.05447 & 5.89509 & 6.86604 & 10.76126 \\ \hline 18 & 2.02582 & 2.40662 & 2.85434 & 3.37993 & 3.99602 & 4.71712 & 5.55992 & 6.54355 & 7.68997 & 12.37545 \\ \hline 19 & 2.10685 & 2.52695 & 3.02560 & 3.61653 & 4.31570 & 5.14166 & 6.11591 & 7.26334 & 8.61276 & 14.23177 \\ \hline 20 & 2.19112 & 2.65330 & 3.20714 & 3,86968 & 4.66096 & 5.60441 & 6.72750 & 8.06231 & 9.64629 & 16.36654 \\ \hline \end{tabular} TABLE 2 Future Value of an Annuity of 1 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{11}{|l|}{ (n) } \\ \hline Payme & 4% & 5% & 6% & 7% & 8% & 9% & 10% & 11% & 12% & 15% \\ \hline 1 & 1.00000 & 1.00000 & 1.00000 & 1,0000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 \\ \hline 2 & & & & 2.0700 & 2.08000 & 2.09000 & 2.10000 & 2.11000 & & \\ \hline 3 & 3.12160 & 3.15250 & 3.18360 & 3.2149 & 3.24640 & 3.27810 & 3.31000 & 3.34210 & & \\ \hline 4 & 4.24646 & 4.31013 & 4.37 & 4.43 & 4.50611 & & & & & \\ \hline 5 & 5,41632 & & 5.63709 & 5.7507 & 5.86660 & 5.98471 & 6.10510 & 6.22780 & 6.35285 & \\ \hline 6 & 6.63298 & 6.80191 & 6.97532 & 7.1533 & 7.33592 & 7.52334 & 7.71561 & 7,91286 & 8.11519 & 8.75 \\ \hline 7 & 7.89829 & & & 8.6540 & 8.9 & & & & & \\ \hline 8 & 9.21423 & 9.54911 & 9.89 & 10.2598 & 10.6 & & & & & \\ \hline 9 & 10.58280 & 11.02656 & 11.49 & 11.9780 & 12. & 04 & & & 14. & \\ \hline 10 & & & & 13 & 14.48656 & 15.19293 & 15.93743 & 16.72201 & & \\ \hline 11 & 13,48635 & 14.20 & 14.9 & 15 & 16.64549 & 17.56029 & 18.53117 & 19.56143 & 20. & \\ \hline 12 & 15.02581 & 15.91713 & 16.86994 & & 18.97 & 72 & & & & \\ \hline 13 & 16.62684 & 17.71298 & 18.88214 & 20 & 21.49 & 22. & 24 & 26.21 & 28. & \\ \hline 14 & 18.29191 & 19.59863 & 21.015 & 22.5505 & 24.21492 & 26.01919 & 27.97498 & 30.09492 & 32.39 & \\ \hline 15 & 20.02359 & 21.57856 & 23.27597 & 25.1290 & 27.15211 & 29.36092 & 31.77248 & 34.40 & 37.27972 & 47.58041 \\ \hline 16 & 21.82453 & 23.65749 & 25.67253 & & 30.32428 & 33.00340 & 35.94973 & 39.18995 & 42.75328 & 55.71747 \\ \hline 17 & 23.69751 & 25.8 & & & 33.75023 & 36.97351 & 40.54470 & 44.500 & 48 & 65 \\ \hline 18 & 25.64541 & 28.1 & & & 37.45024 & 41.30134 & 45.59917 & 50.395 & 55. & \\ \hline 19 & 27.67123 & 30.53900 & & 37.3790 & 41.44626 & 46.01846 & 51.15909 & & & \\ \hline 20 & 77808 & 33.06595 & 36.78559 & 40.9955 & 45,76196 & 51.16012 & 57.27500 & 64.20283 & 72.05244 & 102,44358 \\ \hline \end{tabular} TABLE 3 Present Value of 1 TABLE 4 Present Value of an Annuity of 1 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \\ \hline Pay & 4% & 5% & 6% & 7% & 8% & 9% & 10% & 11% & 12% & 15% \\ \hline 1 & .96154 & .95238 & .94340 & 0.93458 & 92593 & .91743 & 90909 & .90090 & .89286 & .86957 \\ \hline 2 & 1.88609 & 1.85941 & & 1.80802 & 1.78326 & 1.75911 & 1.73554 & 1.71252 & 1.69005 & 1.62571 \\ \hline 3 & 2.77509 & 2.72325 & 2.67301 & 2.62432 & 2.57710 & 2.53130 & 2.48685 & 2.44371 & 2.40183 & 2.28323 \\ \hline 4 & 3.62990 & 3.54595 & 3.46511 & 3.38721 & 3.31213 & 3.23972 & 3.16986 & 3.10245 & 3.03735 & 2.85498 \\ \hline 5 & 4.45182 & 4.32948 & 4.21236 & 4.10020 & 3.99271 & 3.88965 & 3.79079 & 3.69590 & 3.60478 & 335216 \\ \hline 6 & 5.24214 & 5.07569 & 4.91732 & 4.76654 & 4.62288 & 4.485 & 4.35526 & 4.23054 & 4.11141 & 3.78448 \\ \hline 7 & 6,00205 & 5.78637 & 5.58238 & 5.38929 & 5.20637 & 5.03295 & 4.86842 & 4.71220 & 4.5 & 4.16042 \\ \hline 8 & 6.73274 & 6.46321 & 6.20979 & 5.97130 & 5.74664 & 5.53482 & 5.33493 & 5.14612 & 4.96764 & 4.48732 \\ \hline 9 & 7.43533 & 7.10782 & 6.80169 & 6.51523 & 6.24689 & 5.99525 & 5.75902 & 5.53705 & 5.32825 & 4.77158 \\ \hline 10 & 8.11090 & 7.72173 & 7,36009 & 7.02358 & 6.71008 & 6.41766 & 6.14457 & 5.88923 & 5.65022 & 5.01877 \\ \hline 11 & 8.76048 & 8.30641 & 7.88687 & 7.49867 & 7.13896 & 6.80519 & 6.49506 & 6.20652 & 5.93770 & 5.23371 \\ \hline 12 & 9.38507 & 8.86325 & 838384 & 7.94269 & 7.53608 & 7.16073 & 6.81 & 6.49 & & 5.42062 \\ \hline 13 & 9.98565 & 9.39357 & 8.85268 & 8.35765 & 7.90378 & 7.48690 & 7.10336 & 6.74987 & 6.42355 & 5.58315 \\ \hline 14 & 10.56312 & 9.89864 & 9.29498 & 8.74547 & 8.24424 & 7.78615 & 7.36669 & 6.98187 & 6.62817 & 5,72448 \\ \hline 15 & 11.11839 & 10.37966 & 9.71225 & 9.10791 & 8.55948 & 8.06069 & 7.60608 & 7.19087 & 6.81086 & 5.84737 \\ \hline 16 & 11.65230 & 10.83777 & 10.10590 & 9.44665 & 8.85137 & 8.31256 & 7.82371 & 7.37 & 6.97 & 424 \\ \hline 17 & & 11.27407 & 10.4 & & & & & & & 716 \\ \hline 18 & 12.65930 & 11.68959 & 10.82760 & 10.05909 & 937189 & 8.75563 & 8.20141 & & & 6.12797 \\ \hline 19 & 13.13394 & 12.08532 & 11.15812 & 10.33560 & 9.60360 & 8.95012 & 8.36 & 7.8 & & 6.19823 \\ \hline 20 & 13.59033 & 12.46221 & 11.46992 & 10.59401 & 9.81815 & 9.12855 & 8.51356 & 7.96333 & 7.46944 & 6.25933 \\ \hline \end{tabular}