In order to save money for a new home, you plan to deposit $1,430 monthly to a bank account paying 6% interest per year, compounded monthly. The first deposit will be made one month from today. How much money can be withdrawn from this bank account immediately after 2 years (24th deposit)? 1/2% 1 2 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 36 40 Single Payment Compound Amount Factor Find F Given P F/P 1.005 1.010 1.015 1.020 1.025 1.030 1.036 1.041 1.046 1.051 1.056 1.062 1.067 1.072 1.078 1.083 1.088 1.094 1.099 1.105 1.110 1.116 1.122 1.127 1.133 1.138 1.144 1.150 1.156 1.161 1.197 1.221 1970 Present Worth Factor Find P Given F P/F 9950 .9901 9851 .9802 .9754 9705 9657 9609 .9561 .9513 9466 9419 9372 .9326 9279 9233 9187 9141 .9096 .9051 9006 .8961 .8916 8872 8828 .8784 .8740 8697 8653 8610 .8356 .8191 7001 Sinking Fund Factor Find A Given F A/F 1.0000 4988 3317 2481 1980 1646 1407 1228 .1089 0978 0887 .0811 0746 .0691 0644 0602 0565 0532 .0503 0477 0453 0431 0411 .0393 0377 .0361 0347 0334 0321 .0310 0254 0226 or Compound Interest Factors Uniform Payment Series Capital Recovery Factor Find A Given P A/P 1.0050 5038 3367 2531 2030 1696 1457 1278 1139 1028 0937 0861 0796 0741 0694 0652 0615 0582 0553 0527 0503 0481 0461 0443 0427 0411 .0397 0384 0371 .0360 0304 .0276 63x Compound Amount Factor Find F Given A F/A 1.000 2.005 3.015 4.030 5.050 6.076 7.106 8.141 9.182 10.228 11.279 12.336 13.397 14.464 15.537 16.614 17.697 18.786 19.880 20.979 22.084 23.194 24.310 25.432 26.559 27.692 28.830 29.975 31.124 32.280 39.336 44.159 1000 Present Worth Factor Find P Given A P/A 0.995 1.985 2.970 3.951 4.926 5.896 6.862 7.823 8.779 9.730 10.677 11.619 12.556 13.489 14.417 15.340 16.259 17.173 18.082 18.987 19.888 20.784 21.676 22.563 23.446 24.324 25.198 26.068 26.933 27.794 32.871 36.172 10 500 Arithmetic Gradient Gradient Gradient Uniform Present Worth Find P Given G P/G Series Find A Given G A/G 0 0.499 0.996 1.494 1.990 2.486 2.980 3.474 3.967 4.459 4.950 5.441 5.931 6.419 6.907 7.394 7.880 8.366 8.850 9.334 9.817 10.300 10.781 11.261 11.741 12.220 12.698 13.175 13.651 14.127 16.962 18.836 MELL 0 0.991 2.959 5.903 9.803 14.660 20,448 27.178 34.825 43.389 52.855 63.218 74.465 86.590 99.574 113.427 128.125 143.668 160.037 177.237 195.245 214.070 233.680 254.088 275.273 297.233 319.955 343.439 367.672 392.640 557.564 681.341 050 000 1/2% n 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 36 40 48 50 52 60 70 72 80 84 90 96 100 104 120 240 360 480 1.270 1.283 1.296 1.349 1.418 1.432 1.490 1.520 1.567 1.614 1.647 1.680 1.819 3.310 6.023 10.957 7871 7793 .7716 7414 .7053 .6983 .6710 .6577 6383 6195 .6073 5953 5496 3021 -1660 0913 0185 0177 0169 0143 .0120 .0116 0102 00961 .00883 .00814 .00773 .00735 ,00610 00216 .00100 .00050 0235 0227 .0219 0193 0170 0166 0152 0146 0138 .0131 0127 0124 0111 00716 00600 00550 54.098 56.645 59.218 69.770 83.566 86.409 98.068 104.074 113.311 122.829 129.334 135.970 163,880 462.041 1004.5 1991.5 42.580 44.143 45.690 51.726 58.939 60,340 65.802 68.453 72.331 76.095 78.543 80.942 90.074 139.581 166.792 181.748 22.544 23,463 24.378 28.007 32.468 33.351 36.848 38.576 41.145 43.685 45.361 47.025 53.551 959.928 1035.70 1113.82 1448.65 1913.65 2012.35 2424.65 2640.67 2976.08 3324.19 3562.80 3806.29 4823,52 96.113 13415.56 128.324 21403.32 151.795 27588,37 48 50 52 60 70 72 80 84 90 96 100 104 120 240 360 480 (Continue on previous question) If you needs to have $126,073 three year later to make the down payment of a new home, how much do you have to deposit each month?