Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

F. (Click the icon to view the future value table.) (Click the icon to view the future value annuity table.) ed Reference ed all 18%

image text in transcribedimage text in transcribedimage text in transcribed

F. (Click the icon to view the future value table.) (Click the icon to view the future value annuity table.) ed Reference ed all 18% 0.847 1.566 2.174 2.690 3.127 Vid Ich ed be Present Value of Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% Period 1 0.990 0.980 0.971 0.962 0.952 0.943 0.926 0.909 0.893 0.877 0.862 Period 2 1.970 1.942 1.913 1.886 1.859 1.833 1.783 1.736 1.690 1.647 1.605 Period 3 2.941 2.884 2.829 2.775 2.723 2.673 2.577 2.487 2.402 2.322 2.246 Period 4 3.902 3.808 3.717 3.630 3.546 3.465 3.312 3.170 3.037 2.914 2.798 Period 5 4.853 4.713 4.580 4.452 4.329 4.212 3.993 3.791 3.605 3.433 3.274 Period 6 5.795 5.601 5.417 5.2425.076 4.917 4.623 4.355 4.111 3.889 3.685 Period 7 6.728 6.4726.230 6.002 5.786 5.582 5.206 4.868 4.564 4.288 4039 Period 8 7.652 7.325 7.020 6.733 6.463 6.210 5.747 5.335 4.968 4.639 4.344 Period 9 8.566 8.1627.786 7.435 7.108 6.802 6.247 5.759 5.328 4.946 4.607 Period 10 9.471 8.983 8.530 8.111 7.722 7.360 6.710 6.145 5.650 5.216 4.833 Period 11 10.368 9.787 9.253 8.760 8.306 7.887 7.139 6.495 5.938 5.453 5.029 Period 12 11.255 10.575 9.954 9.3858.863 8.384 7.536 6.814 6.194 5.660 5.197 Period 13 12.134 11.348 10.635 9.986 9.394 8.853 7.904 7.103 6.424 5.842 5.342 Period 14 13.004 12.106 11.296 10.563 9.899 9.295 8.244 7.3676.628 6.002 5.468 Period 15 13.865 12.849 11.938 11.11810.380 9.7128.559 7.606 6.811 6.142 5.575 Period 2018.046 16.351 14.877 13.590 12.462 11.470 9.818 8.514 7.469 6.623 5.929 Period 25 22.023 19.523 17.41315.622 14.094 12.783 10.675 9.077 7.843 6.8736.097 Period 30 25.808 22.396 19.600 17.292 15.372 13.765 11.2589.427 8.055 7.003 6.177 3.498 3.812 4.078 4.303 4.494 al bu Vit 4.656 4.793 4.910 5.008 5.092 JE ar. 5.353 5.467 5.517 Print Done (Click the icon to view the future value annuity table.) (Click the icon to view the future value table. eg Reference Present Value of $1 ed 16 9 all 3% 0.971 0.943 0.915 0.888 0.863 4% 0.962 0.925 0.889 0.855 0.822 5% 0.952 0.907 0.864 0.823 0.784 6% 0.943 0.890 0.840 0.792 0.747 8% 0.926 0.857 0.794 0.735 0.681 10% 0.909 0.826 0.751 0.683 0.621 12% 0.893 0.797 0.712 0.636 0.567 14% 0.877 0.769 0.675 0.592 0.519 16% 18% 0.862 0.847 0.743 0.718 0.641 0.609 0.552 0.516 0.476 0.437 Vit Ich ed pe Periods 1% 2% Period 1 0.990 0.980 Period 2 0.980 0.961 Period 3 0.971 0.942 Period 4 0.961 0.924 Period 5 0.951 0.906 Period 6 0.942 0.888 Period 7 0.933 0.871 Period 8 0.923 0.853 Period 9 0.914 0.837 Period 10 0.905 0.820 Period 110.896 0.804 Period 12 0.887 0.788 Period 13 0.879 0.773 Period 14 0.870 0.758 Period 150.861 0.743 Period 200.820 0.673 Period 25 0.780 0.610 Period 30 0.742 0.552 0.837 0.813 0.789 0.766 0.744 0.790 0.760 0.731 0.703 0.676 0.746 0.711 0.677 0.645 0.614 0.705 0.665 0.627 0.592 0.558 0.630 0.583 0.540 0.500 0.463 0.564 0.513 0.467 0.424 0.386 0.507 0.456 0.452 0.400 0.404 0.351 0.361 0.308 0.322 0.270 0.410 0.354 0.305 0.263 0.227 0.370 0.314 0.266 0.225 0.191 al ou Vit 0.722 0.701 0.681 0.661 0.642 0.650 0.585 0.625 0.557 0.601 0.530 0.577 0.505 0.555 0.481 JE ar. 0.527 0.429 0.350 0.287 0.237 0.195 0.162 0.497 0.397 0.319 0.257 0.208 0.168 0.137 0.469 0.368 0.290 0.229 0.182 0.145 0.116 0.442 0.340 0.263 0.205 0.160 0.125 0.099 0.417 0.315 0.239 0.183 0.140 0.108 0.084 0.312 0.215 0.149 0.104 0.073 0.051 0.037 0.233 0.146 0.092 0.059 0.038 0.024 0.016 0.174 0.099 0.057 0.033 0.020 0.012 0.007 0.554 0.478 0.412 0.456 0.375 0.308 0.377 0.295 0.231 Print Done Janet wants to take the next six years off work to travel around the world. She estimates her annual cash needs at $28,000 (if she needs more, she'll work odd jobs). Janet believes she can invest her savings at 12% until she depletes her funds. (Click the icon to view the present value annuity table.) (Click the icon to view the present value table.) (Click the icon to view the future value annuity table.) (Click the icon to view the future value table.) Requirements 1. How much money does Janet need now to fund her travels? 2. After checking with a number of banks, Janet learns she'll be able to invest her funds only at 8%. How much does she need now to fund her travels? .... Requirement 1. How much money does Janet need now to fund her travels? Calculate how much money Janet needs now to fund her travels. (Round your answers to the nearest whole dollar.) With the 12% interest rate, Janet needs Requirement 2. After checking with a number of banks, Janet learns she'll be able to invest her funds only at 8%. 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 an 8% interest rate, Janet would need If Janet's savings are earning a lower interest rate (8%), she'll need to save to be able to withdraw $28,000 per year

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistical Analysis Microsoft Excel 2010

Authors: Conrad Carlberg

1st Edition

0789747200, 9780789747204

More Books

Students also viewed these Accounting questions