Helen wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $31,000 (if she needs more, she will work odd jobs). Helen believes she can invest her savings at 10% until she depletes her funds. (Click the icon to view Present Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of $1 table.) Read the requirements. Requirement 1. How much money does Helen need now to fund her travels? (Round your answer to the nearest whole dollar.) With the 10% interest rate, Helen needs Requirement 2. After speaking with a number of banks, Helen learns she will only be able to invest her funds at 6%. How much does she need now to fund her travels? (Round your answer to the nearest whole dollar.) With a 6% interest rate, Helen would need If Helen's savings are earning a lower interest rate (6%), she will need to save to be able to withdraw $31,000 per year. less more Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 18% 18% 20% Period 1 0.00 0.00 0.371 0.962 0.352 0943 0.935 0.926 0.917 0.900 0.808 0.877 0.870 0862 0847 083 period 2 0.90 0.96 0.943 0.025 0.007 0.890 0.073 0.057 0.042 0826 0.797 0.042 0.826 0.797 0.789 0.756 0.743 0.7180894 Period 3 0.971 0.942 0.915 0.229 0.854 0.840 0.816 0.794 0.772 0.751 0.712 0.875 0.6580641 0600 0.579 Period 4 0961 0.924 0.889 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.636 0.592 0.572 0.5620516 0.482 Periods 0.951 0.906 0.983 0.022 0.74 0.747 0.713 0.881 0.850 0.621 0.567 0.519 0497 0.4760437 0.400 Perlod 6 0342 C.ee 0.837 0.750 0.746 0.705 0.666 0.630 0.596 0.564 0.507 0.456 0.432 0.410 03700336 Period 7 7 0.9630.071 0.913 0.7600.711 0.885 0.823 0.503 0.547 0.513 0.452 0.400 0.376 0364 03140279 perioda 0.923 0.853 0.789 0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.404 0.351 0.327 03050266 0283 Perlod 9 9 0914 0.837 0.765 0.7030.545 0.542 0.544 0.500 0.460 0.424 0.361 0.308 02840263 022 0.194 Period 10 0906 0.020 0.7440.678 0.814 0568 0.509 0.463 0.422 0.386 0322 0.270 0247 0227 0.191 0.162 Period 11 0896 0.804 0.722 0.650 0.585 0.527 0.475 0.429 0.388 0.360 0.287 0.237 0215 0.186 0.162 0.136 Period 12 0887 0.70 0.701 0.625 0.557 0497 0.444 0.397 0.358 0.319 0257 0.209 0.187 0.168 0.137 0.112 Period 13 0.879 0.773 0.581 0.601 0.530 0.459 0.415 0.368 0.326 0.290 0229 0.182 0.163 0.145 0.116 0.096 Period 14 0.870 0.758 0.661 0.577 0.505 0.442 0.388 0.340 0.299 0.263 0206 0.160 0.141 0.125 0.06 0.078 Period 15 0861 0.743 0.842 0555 0.491 0.417 0.362 0.315 0.275 0249 0.183 0.140 0.123 0.106 0064 0.066 Period 16 0.853 0.728 0.623 0.534 0.458 0.391 0.339 0.292 0.252 0.218 0.163 0.123 0.1070.008 0.071 0.051 Period 17 0844 0.714 0.805 0.513 0.438 0.371 0.317 0.270 0.231 0.19 0.146 0.108 0.000 0.000 0.000 0.045 Period 18 0836 0.700 0.587 0.494 0.418 0.350 0.298 0.250 0.212 0.180 0.130 0.095 0.081 0.069 0.051 0.068 Period 19 0828 0.686 0.570 0.475 0.396 0.331 0.277 0.232 0.194 0.164 0.116 0.083 0.070 0.060 0.013 0.061 Period 20 08200.673 0.554 0.456 0.377 0312 0.259 0.215 0.179 0.149 0.104 0.073 0.061 0.061 0.067 0.026 Period 21 0.311 C.EED 0.538 0.439 0.359 0.294 0.242 0.199 0.164 0.136 0.098 0.064 0.063 0.014 0.061 0.022 Period 22 0.816 0.647 0.522 0.422 0.342 0278 0.226 0.184 0.150 0.123 0.083 0.056 0.046 0.008 0.025 0.018 Period 23 0.795 0.634 0.507 0.406 0.328 0.282 0.211 0.170 0.13 0.112 0.074 0.049 0.040 0.003 0.002 0.015 Period 24 0.788 0.622 0.492 0.390 0.310 0.247 0.137 0.158 0.126 0.102 0.066 0.043 0.005 0.028 0.019 0.013 Period 250.700 0.00 0.479 0.375 0.295 023 0.194 0.146 0.116 0.002 0.06 0.038 0.000 0.024 001 period 26 0.772 0.588 0.54 0.381 0.281 0.22 0.172 0.135 0.106 0.084 0.063 0.033 0.025 0.021 0.014 0.00 Period 27 0.764 0.56 0.450 0.347 0.268 0207 0.161 0.125 0.098 0.076 0.047 0.0290028 0.018 0.01 0.007 Period 28 0.757 0.574 1.437 0.112 1.255 0.19 0.150 0.116 0.09 0.06 0.042 0.028 0.000016 00100006 Period 29 0.7490.563 0.4 0.3210.243 0.18 0.141 0.107 Kl.com 02 M 0.082 0.063 0.067 0.022 0.017 0.014 0.008 0.005 on lascer Future Value of $1 Periocs 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% Period 1 1.010 1.020 1.030 1.040 1.050 1.000 1.070 1.000 1.090 1.100 1.120 1.140 1.150 Perlod 2 1.020 1.040 1.061 1.082 1.100 1.1241.145 1.100 1.188 1.210 1.254 1300 1328 Period 3 1.000 1.084 1.093 1.125 1.158 1.191 1225 1.280 1.25 1.3311406 1.406 1.482 1521 Period 4 1.041 1.0821.125 1.170 1216 1.2621.311 1.350 1.412 1.4541.574 1689 1.749 Perlod 5 1.051 1.104 1.159 1.217 1276 1.338 1.405 1.450 1.539 1.611 1.762 1925 2.011 Period 6 6 1.062 1.125 1.194 1.265 1.340 1.419 1.501 1.587 1.577 1.772 1974 2.196 2313 Period 7 1.072 1.149 1.230 1.316 1.407 1.504 1.605 1.714 1.828 1.949 2.214 2.211 2.502 | 2660 Period 8 1.003 1.172 1.287 1.389 147715941718 1851 1.993 2.1442476 2863058 Period 9 1.094 1.195 1.305 1.423 1.551 1.589 1.838 1.999 2.172 2.353 2.773 32523518 Period 10 1.105 1.219 1.344 1.480 1.629 1.781 1.967 2.159 2.357 2.54 3.106 3.707 4046 Period 11 1.118 1.243 1.384 1.539 1.710 1.898 2.105 2.332 2.580 2.853 3.479 4 226 4652 Period 12 1.1271.268 1.426 1.601 1.796 2.012 2.252 2518 2.813 3.138 3.896 4818 5.360 Period 13 1.130 1.294 1,489 1,885 1898 2.133 2410 2.720 3.038 3452 4.30 5.4926153 Period 14 1.149 1.319 1.513 1.732 1.980 2.261 2.579 2.937 3.342 3.793 4887 62617.076 Period 15 1.161 1.346 1.558 1.801 2.079 2.3972.759 3.172 3.612 4.177 5:474 7.1388.137 Period 16 1.173 1.373 1.805 1.873 2.183 2.540 2.952 3.425 3.970 4.595 6.130 8.137 9358 Period 17 1.1841.400 1.653 1.948 2.292 2.693 3.159 3.700 4.328 5.0546.866 9 278 10.76 Period 18 1.1961.428 1.702 2.028 2.407 2.854 3.380 3.995 4.717 5.590 7.680 10.58 1238 Period 19 1.208 1.457 1.754 2.107 2.527 3.028 3.817 4.318 5.142 6.116 8613 1206 1423 Period 20 1.220 1.486 1.806 2.191 2.653 3.2073.870 4.651 5.64 6.7279616 13.74 16:37 Period 21 1.232 1.518 1.000 2.279 2.788 3.400 4.141 5.034 8.109 7400 10.80 15.67 1862 Period 22 1.245 1.546 1.916 2.370 2.925 3.604 4.430 5.4376.559 8.140 1210 178 2164 Period 23 1.257 1.5771.974 2.465 3.072 3.020 4.741 5.871 7.258 8.954 13.56 2036 2489 Period 24 1.270 1.608 2.033 2.583 3.225 4.049 5.072 3.341 7.911 9.850 15.18 23212863 Period 25 1.222 1.641 2.094 2.565 3.385 4.2925.427 5.848 8.623 10.83 17.00 26.46 3292 Period 28 1.295 1.673 2.157 2.772 3.558 4.5495.807 7.3939.399 1192 19.04 30.1737.86 Period 27 1.308 1.707 2.221 2.883 3.733 4.822 6.214 7.953 10.25 13.11 21.32 34.39 43.51 Period 28 1.321 1.741 2.288 2.999 3.920 5.112 6.649 8.627 11.17 14.42 23.88 39205007 Period 29 1.135 1.778 2.357 3119 4.116 5.417.114 9.317 12.17 15.83 28.75 44 69 57 58 DU 4 041 A 122 1723 1724 19 TEI one lenne Ice nnnn nnnn Present Value of Ordinary Annuity of $1 Periods 1% 2% 3% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% Period 1 0.990 0.90 0.971 0.922 0.952 0.943 0.93 0.928 0.917 0.909 0.999 0.877 0.170C.AAC.647 06 Period 2 1970 1942 1943 1.895 1.858 1.833 1.80B 1.783 1.753 1.736 1.690 1.647 1.525 1.EUS 1.5EE 1528 Period 3 2.9412.884 | 2.829 2.775 2.723 2.673 2.624 2.577 2.531 2.487 2.402 2.322 2.293 2.2462-74 2.106 Period 4 3.902 3.908 3.717 3.250 1.548 1.485 3.307 3.312 1.240 3.170 3.097 2.914 2.855 2.799 2.690 2.589 period 5 4853 4.713 4.50 4.452 4.328 4.212 4.100 3.993 3.890 3.791 3.ECS 3.433 3.352 2.274 2.27 2.991 Period 5.796 5.801 5.417 5.2425.078 4.917 4.787 4.623 4.40 4.355 4.111 2.09 3.784 4.111 3.09 3.784 3.625 1.490 3.328 Period 7 6.728 5.472 0.280 6.002 5.786 5.582 5.389 5.205 5.033 4858 4.564 4.228 4.150 4.099 9.82 3.606 Period 8 7662 7.325 7,020 6.733 6.403 6.210 5.971 5.747 5.535 5386 4.96 4.639 4497 4.344 4.078 3837 Period 98.56 1.1627.70 8.586 2.1827.708 7435 7.10 R.AN2 8.515 6.247 5.995 5.759 5.328 4.948 4.772 4.607 4.300 4.001 Period 10 9.471 3.953 2.530 8.111 7.722 7.350 7.0246.710 6.418 6.145 5.ESU 5.216 5.019 4.233 4.494 4.494 4.192 Period 11 10.369.797 9.250 9.700.30 7.007 7.499 7.139 1.005 2.495 5.990 5.234 5.029 4.6584.327 Period 12 11.255 10.575 9.854 9.355 9.8639.384 7.943 7.538 7.161 6.814 6.1945.6EU S.EEU 5.421 5.97 4.783 4459 Period 13 12 134 11.348 10.635 9.9969.394 0.853 0.358 7.904 7.487 7.106 6.424 5.842 5.583 5.342 4.80 4.53 Period 14 13.004 12.103 11.293 10.5839.99 9.295 1.745 8.244 7.7AR 7.387 6.620 6.002 5.724 6.4.COM 2.31 Period 15 13.885 12.849 11.933 11.11.210.380 4.712 3.108 3.559 1.061 7.505 6.811 6.142 5.347 5.575 S.CE2 4675 Period 16 14.718 13.578 12.561 11.862 10.038 10.109.447 8.851 0.313 7224 6.9746.265 5.954 6.669 6.12 4.730 Period 17 15.562 14.292 13.166 12.15 11.274 10.477 8.763 9.122 8.544 3.022 7.1206.373 6.047 5.749 5.222 4.775 Period 18 16.30 14.992 13.754 12.650 11.000 10.828 10.059 9.372 0.756 8201 7.250 6.467 6.1295.00 5.8 5.273 4812 Period 19 17.226 15.378 14.124 13.134 12.065 11.158 10.33R 9.804 1.950 8.385 7.268 6.550 7.366.850 8.18 5.477 6.184844 period 20 18.046 15.351 14.877 13.590 12.462 11.470 10.5949.818 9.129 3.514 7.468 6.823 6.259 5.829 5.928 5.3534870 Period 21 18.857 17.011 15.415 14.029 12.021 11.784 10.038 10.017 9.292 8.849 7.5626.687 1.312 5.979 5.204 4891 Period 22 19.660 17.553 15.837 14.451 13.163 12.042 11.051 10.2019.442 3.772 7.645 6.743 7.645 6.743 6.353 6011 5.4'u 5.4U | 4.909 Period 22 20.456 19.212 16.444 14.857 13.409 12.303 11.272 10.371 9.580 8.883 7.710 6.792 0.399 6.044 5.432 4.925 Period 24 21.243 10.914 18.938 15.247 13.799 12.550 11.489 10.529 9.707 8.985 7.7846.835 8.4346.073 5.45 4.967 Period 25 22 023 19.523 17.413 15.522 14.08412.783 11.554 10.675 9.823 9.077 7.843 6.873 6.454 E.097 5.467 4918 Period 26 22796 20.121 17.077 15.983 14.375 13.00 11.828 10.8109.929 9.181 7.8966.908 8.491 6.110 5.400 4956 Period 27 23.560 20.707 18.327 15.330 14.643 13.211 11.957 10.935 10.027 9.237 7.943 6.935 7.943.995 6.5146.195.492 4961 Period 28 24.316 21.28118.764 19.663 14.898 13.406 12.137 11.061 10.116 9.307 7.984 6.964 6.534 6.-525.502.970 Period 29 25.00 21.844 19.100 18.984 15.141 13.591 12.278 11.158 10.19 9.370 8.022 6.903 8.551 E. ER 5.50 4.975 - om Future Value of Ordinary Annuity of $1 Periods 1 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% Period 1 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 Period 2 2.010 2.020 2030 2040 2050 2060 2070 2.080 2.090 2.100 2.120 2.140 2.50 Period 3 3.030 3.0G03.001 3.122 3.153 3.1843.215 3.248 3278 3.310 3.374 3.440 2.473 Period 4 4.00 4.122 4.184 424 4310 4.375 4.440 4.50 4.573 4.841 4.779 4921 4.99 Period 5 5.101 5.204 5.309 5.416 5.525 5.637 5.751 5.857 5,985 5.105 5.353 6610 6.742 Period 6.152 8.30 8.468 8.833 8.802 6.975 7.153 7.338 7.523 7.718 2.115 8536 2.754 Period 7 7.214 7.4347.662 7.893 5.142 8.394 8.654 8.923 9200 9.407 10.09 10.73 11.07 Period 8 8.286 0.5838.892 9214 9.549 9.897 10.260 10.64 11.03 11.44 12.30 1323 13.73 Period 9 9.319 9.755 10.16 10.50 11.00 11.49 11.9 12.49 13.02 13.58 14.78 18.09 16.79 Period 10 10.46 10.85 11.46 12.01 12.58 13.18 13.22 14.49 15.19 15.94 17.55 1934 20.30 Period 11 11.57 12.17 12.81 13.49 14 21 14.97 15.78 18.5 17.58 18.53 20.85 2304 24.15 Period 12 12.68 13.41 14.19 15.03 15.92 16.87 17.29 18.98 20.14 21.38 24.13 2727 28.00 Period 13 13.81 14.68 15.62 16.63 17.7118.88 20.14 21.50 2296 24.52 28.03 326 34.35 Period 14 14.95 15.97 17.09 18.29 19.80 21.02 22.55 24.21 23.02 27.98 32.39 3758 40.50 Period 15 16.10 17.28 18.60 20.02 21.53 23.28 25.13 27.15 29.36 31.77 37.23 43.84 | 47.58 Period 16 17.28 1.84 20.16 21.22 23.88 25.67 27.89 30.32 33.00 35.95 42.75 50.96 66.72 Period 17 18.43 20.01 21.76 23.70 25.84 28.21 30.84 33.75 35.97 40.54 48.53 59.12 E5.08 Period 18 19.61 21.41 23.41 25.65 28.13 30.91 34.00 37.45 1.30 45.00 55.75 6839 75.84 Period 19 20.11 22.84 25.12 27.87 30.54 33.78 37.38 41.45 48.02 51.1883.24 78 97 2.21 Period 20 22.02 24.30 26.87 29.78 33.07 36.79 41.00 45.76 51.16 57.25 72.05 91.02 102.4 Period 21 21.24 25.7828.68 31.97 35.72 39.09 44.87 51.42 58.76 84.00 91.70 1048 110.B Period 22 24.47 27.30 30.54 34 25 38.51 43.39 49.01 55.45 62.87 71.40 92.50 1204 197.6 Period 23 25.72 28.85 3245 39.62 41.43 47.00 53.44 60.89 60.53 79.54 104.6 1383 169.3 Period 24 28.97 0.42 34.43 39.08 44 50 50.82 58 18 88.78 78.79 10.50 1182 158.7184.2 Period 25 29.24 32.03 36.4E 41.55 47.73 54.26 6.25 73.11 34.70 98.35 63.25 73.11 84.70 98.35 133.3 1819 212.8 Period 26 9332 29.53 31.87 38.55 4431 51.11 59.16 68.68 79.95 93.32 109.2 150.3 2083 245.7 Period 27 30.82 35.3440.71 47.03 54.67 53.71 74.48 87.35 102.7 121.1 159.4 2385 283.6 Period 28 32.13 37.05 4293 49.97 58.40 68.59 80.70 95.34 113.0 134.2 190.7 2729 | 327.1 31.45 38.79 45.22 52.97 32.32 73.6487.35 104.0 124.1 148.3 214.3 312.1 377.2 Period 9 25.88 21.0419.1018984514299 220 11.15 10.198 950 409 4:58 ncc C477 CE