Engineering graduates earn $700,000 more than the average Liberal Arts BA holder in a career. Assume the $700,000 is a lump-sum equivalent at the end of a 35-year career. How much extra does the engineering grad earn per year if the interest rate is 7% per year? Click the icon to view the interest and annuity table for discrete compounding when i = 7% per year. The engineering grad earns extra $ per year. (Round to the nearest dollar.) N 1 2 3 4 5 6 7 8 9 10 11 12 Discrete Compounding; i = 7% Single Payment Uniform Series Compound Compound Sinking Amount Present Amount Present Fund Factor Worth Factor Factor Worth Factor Factor To Find F To Find P To Find F To Find P To Find A Given P Given F Given A Given A Given F F/P P/F FIA PIA A/F 1.0700 0.9346 1.0000 0.9346 1.0000 1.1449 0.8734 2.0700 1.8080 0.4831 1.2250 0.8163 3.2149 2.6243 0.3111 1.3108 0.7629 4.4399 3.3872 0.2252 1.4026 0.7130 5.7507 4.1002 0.1739 1.5007 0.6663 7.1533 4.7665 0.1398 1.6058 0.6227 8.6540 5.3893 0.1156 1.7182 0.5820 10.2598 5.9713 0.0975 1.8385 0.5439 11.9780 6.5152 0.0835 1.9672 0.5083 13.8164 7.0236 0.0724 2.1049 0.4751 15.7836 7.4987 0.0634 2.2522 0.4440 17.8885 7.9427 0.0559 2.4098 0.4150 20.1406 8.3577 0.0497 2.5785 0.3878 22.5505 8.7455 0.0443 2.7590 0.3624 25.1290 9.1079 0.0398 2.9522 0.3387 27.8881 9.4466 0.0359 3.1588 0.3166 30.8402 9.7632 0.0324 3.3799 0.2959 33.9990 10.0591 0.0294 3.6165 0.2765 37.3790 10.3356 0.0268 3.8697 0.2584 40.9955 10.5940 0.0244 4.1406 0.2415 44.8652 10.8355 0.0223 4.4304 0.2257 49.0057 11.0612 0.0204 4.7405 0.2109 53.4361 11.2722 0.0187 5.0724 0.1971 58.1767 11.4693 0.0172 5.4274 0.1842 63.2490 11.6536 0.0158 7.6123 0.1314 94.4608 12.4090 0.0106 10.6766 0.0937 138.2369 12.9477 0.0072 14.9745 0.0668 199.6351 13.3317 0.0050 21.0025 0.0476 285.7493 13.6055 0.0035 29.4570 0.0339 406.5289 13.8007 0.0025 Capital Recovery Factor To Find A Given P A/P 1.0700 0.5531 0.3811 0.2952 0.2439 0.2098 0.1856 0.1675 0.1535 0.1424 0.1334 0.1259 0.1197 0.1143 0.1098 0.1059 0.1024 0.0994 0.0968 0.0944 0.0923 0.0904 0.0887 0.0872 0.0858 0.0806 0.0772 0.0750 0.0735 0.0725 13 14 15 16 17 18 19 20 21 22 23 24 25 30 35 40 45 50