For each of the following situations, identity (1) the case as either (a) a present or a future value and (b) a single amount or an annuity. 2) the table you would use in your computations (but do not solve the problem), and (3) the Interest rate and time periods you would use. (PV of $1. FV of $1. PVA of $1. and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factors" to 4 decimal places.) a. You need to accumulate $13,000 for a trip you wish to take in seven years. You are able to earn 8% compounded semiannually on your savings. You plan to make only one deposit and let the money accumulate for seven years. How would you determine the amount of the one-time deposit? (Round your answer to 2 decimal places.) b. Assume the same facts as in part () except that you will make semiannual deposits to your savings account What is the required amount of each semiannual deposit? (Round your answer to 2 decimal places.) C-1. You want to retire after working 30 years with savings in excess of $1,300,000. You expect to save $3,400 a year for 30 years and earn an annual rate of interest of 7%. (Round your answer to 2 decimal places.) c-2. Will you be able to retire with more than $1,300,000 in 30 years? d-1. A sweepstakes agency names you a grand prize winner. You can take $236,000 Immediately or elect to receive annual installments of $38,000 for 15 years. You can earn 11% annually on any investments you make. (Round your answer to 2 decimal places.) d-2. Which prize do you choose to receive? Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. ReqA Req B Req c1 Req C2 Req Di Reg D2 You need to accumulate $13,000 for a trip you wish to take in seven years. You are able to earn 8% compounded semiannually on your savings. You plan to make only one deposit and let the money accumulate for seven years. How would you determine the amount of the one-time deposit? (Round your answer to 2 decimal places.) Future Value Table Factor Present Value Table Values are Based on: n 496 ReqB > this question by entering your answers in the tabs below. Req A Reg B Req C1 Req C2 Req D1 Reg D2 Assume the same facts as in part (a) except that you will make semiannual deposits to your savings account. What is the required amount of each semiannual deposit? (Round your answer to 2 decimal places.) Future Value Table Factor Semiannual deposits Table Values are Based on: 4%
