&E26-21 (similar to) Question Help Sandra wants to take the next four 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). Sandra believes she can invest her savings at 10% until she depletes her funds. (Click the on to view the Present Value of $1 table. (Click the i n to v e the Present Value of Annuity of SI table. (Click the icon to view the Future Value of $1 table) (Click the icon to view the Future Value of Annuity of $1 table.) Requirements 1. How much money does Sandra need now to fund her travels? 2. After speaking with a number of banks, Sandra learns she will only be able to invest her funds at 4%. How much does she need now to fund her travels Requirement 1. How much money does Sandra need now to fund her travels? (Round your answer to the nearest whole dollar.) With the 10% interest rate, Sandra needs $ Reference Present Value of $1 Pendel 4% 2% -3%-4% 5% 6% 7% 8% : 9% 10% 12% 14% 15%-16% 10990 0.980 0971 0.962 0952 0943 0935 0926 0917 0909 0893 0877 0 870 0.862 2 0980 0.961 0.943 0925 0907 0890 0873 0857 0 842 0826 0797 0769 0756 0743 3 0.971 0.942 0915 0889 0864 0840 0 816 0794 0772 0751 0712 0675 0658 0641 4 0.961 0924 0888 0855 0 823 0792 0763 0735 0708 0683 0636 0.592 0.572 0.552 5 0951 0906 0.863 0822 0 784 0747 0713 0681 0650 0 621 0.567 0519 0.497 0476 6 0942 0888 0837 0790 0.746 0705 0666 0630 0596 0564 0.507 0456 0432 0410 7 0933 0871 0813 070 0711 0665 0623 0583 0547 0 513 0452 0400 0376 0.354 8 0923 0853 0789 0731 0677 0627 0582 0540 0502 0.467 0404 0351 0327 0.305 9 0914 0 837 0766 0.703 0645 0592 0544 0500 0460 0424 0 361 0308 0284 0263 10 0905 0820 0744 0676 0614 0558 0508 0463 0422 0386 0 322 0270 0247 0.227 11 0896 0 804 0722 0650 0585 0527 0475 0429 0.388 0350 0287 0237 0215 0.195 12 0887 0788 0701 0625 0 557 0497 0444 0397 0356 0319 0257 0208 0.187 0.168 Reference Future Value of Annuity of $1 11000 1000 1.000 1.000 1.000 1.000 1000 1.000 1000 1.000 1000 1.000 1.000 2 2010 2020 2030 2040 2050 2060 2070 2080 2090 2100 2120 2140 2150 3 3030 3060 3091 3122 3.153 3184 3215 3246 3278 3310 3374 3440 3473 4 4060 4122 4184 4246 4.310 4.375 4440 450 4.573 4641 4779 4921 493 55101 5204 5309 5416 5526 5637 5751 5887 595 6105 6353 6610 6742 6 6152 6308 6468 6633 6802 6975 7.153 7336 7523 7.716 8.115 8536 8754 7 7214 7434 7662 7898 8142 8.394 8654 8923 9200 9487 10089 10730 11.067 8 8286 8583 8892 9214 9549 9897 10260 10637 11.028 11436 12300 13 233 13727 9 9369 9755 10.16 10.58 11.03 1141 1198 2.49 1302 1358 14.78 16.09 1679 10 1046 10.95 11.46 1201 1258 13.18382 4 5 9 594 755 1934 2030 11 1157 1217 1281 1349 1421 14.97 15.78 665 756 1853 2065 2304 2435 0 1 12 12.68 13411419 1503 1592 1687 17.89 18.98 20.14 21.38 24.13 27 27 2900 13 1381 14.68 15 62 1663 771 1888 2014 21.50 22 95 2452 2803 3209 3435
