K Emile is entering high school and is determined to save money for college. Emile feels he can save $1,000 each year for the next four years from his part-time job. If Emile is able invest at 12%, how much will he have when he starts college? (Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Present Value 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.) (Round your answer to the nearest dollar.) When Emile starts college he will have Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 7% Period 1 0.990 0.980 0.971 0.962 0.952 0.943 Period 2 0.980 0.961 0.943 0.925 0.907 0.890 0.873 0.857 8% 9% 10% 12% 14% 15% 16% 18% 0.935 0.926 0.917 0.909 0.893 0.877 0.870 0.862 0.847 0.833 0.842 0.826 0.797 0.769 0.756 0.743 0.718 0.694 20% Period 3 0.971 0.942 0.915 0.889 0.864 0.840 0.816 0.794 Period 4 0.961 0.924 0.888 0.855 0.823 0.792 0.763 0.735 Period 5 0.951 0.906 0.863 0.822 0.784 0.747 0.713 0.681 Period 6 0.942 0.888 0.837 0.790 0.746 0.705 0.666 0.630 0.596 0.564 Period 7 0.933 0.871 0.813 0.760 0.711 0.665 0.623 Period 8 0.923 0.853 0.789 0.731 0.677 0.627 0.582 0.540 Period 9 0.914 0.837 0.766 0.703 0.645 0.592 0.544 0.500 Period 10 0.905 0.820 0.744 0.676 0.614 0.558 0.508 0.463 Period 11 0.896 0.804 0.722 0.650 0.585 0.527 0.475 0.429 Period 12 0.887 0.788 0.701 0.625 0.557 0.497 0.444 0.397 Period 13 0.879 0.773 0.681 0.601 0.530 0.469 0.415 0.368 Period 14 0.870 0.758 0.661 0.577 0.505 0.442 0.388 0.340 Period 15 0.861 0.743 0.642 0.555 0.481 0.417 0.362 0.315 0.772 0.751 0.712 0.675 0.658 0.641 0.609 0.579 0.708 0.683 0.636 0.592 0.572 0.552 0.516 0.482 0.650 0.621 0.567 0.519 0.497 0.476 0.437 0.402 0.507 0.456 0.432 0.410 0.370 0.335 0.583 0.547 0.513 0.452 0.400 0.376 0.354 0.314 0.279 0.502 0.467 0.404 0.351 0.327 0.305 0.266 0.233 0.460 0.424 0.361 0.308 0.284 0.263 0.225 0.194 0.422 0.386 0.322 0.270 0.247 0.227 0.191 0.162 0.388 0.350 0.287 0.237 0.215 0.195 0.162 0.135 0.356 0.319 0.257 0.208 0.187 0.168 0.137 0.112 0.326 0.290 0.229 0.182 0.163 0.145 0.116 0.093 0.299 0.263 0.205 0.160 0.141 0.125 0.099 0.078 0.275 0.239 0.183 0.140 0.123 0.108 0.084 0.065 Period 16 0.853 0.728 0.623 0.534 0.458 0.394 0.339 Period 17 0.844 0.714 0.605 0.513 0.436 Period 18 0.836 0.700 0.587 0.494 0.416 Period 19 0.828 0.686 0.570 0.475 0.396 Period 20 0.371 0.350 0.331 0.292 0.252 0.218 0.163 0.123 0.107 0.093 0.071 0.054 0.317 0.270 0.231 0.198 0.146 0.108 0.093 0.080 0.060 0.045 0.296 0.250 0.212 0.180 0.130 0.095 0.081 0.069 0.051 0.038 0.277 0.232 0.194 0.164 0.116 0.083 0.070 0.060 0.043 0.031 0.820 0.673 0.554 0.456 0.377 0.312 0.258 0.215 0.178 0.149 0.104 0.073 0.061 0.051 0.037 0.026 Period 21 0.811 0.660 0.538 0.439 0.359 0.294 0.242 0.199 0.164 0.135 0.093 0.064 0.053 0.044 0.031 0.022 Period 22 0.803 0.647 0.522 0.422 0.342 Period 23 0.795 0.634 0.507 0.406 0.326 Period 24 0.788 0.622 0.492 0,390 0.310 0.247 Period 25 0.780 0.610 0.478 0.375 0.295 0.233 0.278 0.226 0.184 0.262 0.211 0.150 0.123 0.083 0.056 0.046 0.038 0.026 0.018 0.170 0.138 0.112 0.074 0.049 0.040 0.033 0.022 0.015 0.197 0.158 0.126 0.102 0.066 0.043 0.035 0.028 0.019 0.013 0.184 0.146 0.116 0.092 0.059 0.038 0.030 0.024 0.016 0.010 Print Done Future Value of $1 Periods 1% 2% 3% Period 1 1.010 1.020 1.030 Period 2 1.020 1.040 Period 3 1.030 1.061 Period 4 1.041 Period 5 1.051 1.104 1.159 1.093 1.125 1.158 1.191 1.082 1.126 1.170 1.216 1.262 1.217 1.276 1.338 Period 6 1.062 1.126 1.194 Period 7 1.072 1.149 Period 8 1.083 1.172 1.267 1.369 Period 9 1.094 1.195 1.305 1.423 Period 10 1.105 1.219 1.344 1.480 1.265 1.340 1.419 1.230 1.316 1.407 1.504 1.477 1.594 1.551 1.689 1.629 1.791 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 1.040 1.050 1.060 1.070 1.080 1.090 1.100 1.120 1.140 1.150 1.061 1.082 1.103 1.124 1.145 1.166 1.188 1.210 1.254 1.300 1.323 1.225 1.260 1.295 1.331 1.405 1.482 1.521 1.311 1.360 1.412 1.464 1.403 1.469 1.539 1.611 1.501 1.587 1.677 1.772 1.606 1.714 1.828 1.949 1.718 1.851 1.993 2.144 1.838 1.999 2.172 2.358 1.967 2.159 2.367 2.594 1.574 1.689 1.749 1.762 1.925 2.011 1.974 2.195 2.313 2.211 2.502 2.660 2.476 2.853 3.059 2.773 3.252 3.518 3.106 3.707 4.046 Period 11 1.116 1.243 Period 12 1.127 Period 13 1.138 1.294 1.469 Period 14 1.149 1.319 1.513 Period 15 1.161 1.346 Period 16 1.173 1.373 Period 17 1.184 1.400 Period 18 1.196 Period 19 Period 20 1.428 1.208 1.457 1.220 1.486 1.384 1.539 1.710 1.898 2.105 2.332 2.580 2.853 3.479 4.226 4.652 1.268 1.426 1.601 1.796 2.012 2.252 2.518 2.813 3.138 3.896 4.818 5.350 1.665 1.886 2.133 2.410 2.720 3.066 3.452 4.363 5.492 6.153 1.732 1.980 2.261 2.579 2.937 3.342 3.798 4.887 6.261 7.076 1.558 1.801 2.079 2.397 2.759 3.172 3.642 4.177 5.474 7.138 8.137 1.605 1.873 2.183 2.540 2.952 3.426 3.970 4.595 6.130 8.137 9.358 1.653 1.948 2.292 2.693 3.159 3.700 4.328 5.054 6.866 9.276 10.76 1.702 2.026 2.407 2.854 3.380 3.996 4.717 5.560 7.690 10.58 12.38 1.754 2.107 2.527 3.026 3.617 4.316 5.142 6.116 8.613 12.06 14.23 1.806 2.191 2.653 3.207 3.870 4.661 5.604 6.727 9.646 13.74 16.37 Period 21 Period 22 Period 23 Period 24 Period 25 1.232 1.516 1.245 1.546 1.257 1.577 1.270 1.608 1.282 1.641 1.860 2.279 2.786 3.400 4.141 5.034 6.109 7.400 1.916 2.370 2.925 3.604 4.430 5.437 6.659 8.140 10.80 15.67 18.82 12.10 17.86 21.64 1.974 2.465 3.072 3.820 4.741 2.033 2.563 3.225 4.049 5.072 2.094 2.666 3.386 4.292 5.427 6.848 8.623 10.83 5.871 7.258 8.954 13.55 20.36 24.89 6.341 7.911 9.850 15.18 23.21 28.63 17.00 26.46 32.92 Print Done Present Value of Ordinary Annuity of $1 Periods Period 1 Period 2 1% 2% 3% 4% Period 3 0.990 1.970 1.942 2.941 2.884 0.980 0.971 1.913 2.829 Period 4 3.902 3.808 3.717 3.630 Period 5 4.853 4.713 4.580 4.452 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.893 0.877 0.870 0.862 0.847 0.833 1.886 1.859 1.833 1.808 1.783 1.759 1.736 1.690 1.647 1.626 1.605 1.566 1.528 2.775 2.723 2.673 2.624 2.577 2.531 2.487 2.402 2.322 2.283 2.246 2.174 2.106 3.546 3.465 3.387 3.312 3.240 3.170 3.037 2.914 2.855 2.798 2.690 2.589 4.329 4.212 4.100 3.993 3.890 3.791 3.605 3.433 3.352 3.274 3.127 2.991 Period 6 5.795 5.601 5.417 5.242 5.076 4.917 4.767 Period 7 6.728 6.472 6.230 6.002 5.786 5.582 5.389 Period 8 7.652 7.325 7.020 6.733 6.463 6.210 5.971 Period 9 8.566 8.162 7.786 7.435 7.108 6.802 6.515 Period 10 9.471 8.983 8.530 8.111 7.722 7.360 7.024 Period 11 10.368 9.787 9.253 8.760 Period 12 Period 13 Period 14 Period 15 Period 16 4.111 3.889 3.784 4.564 4.288 4.160 4.968 4.639 4.487 6.247 5.995 5.759 5.328 4.946 4.772 4.607 4.303 4.031 6.710 6.418 6.145 5.650 5.216 5.019 4.833 4.494 4.192 8.306 7.887 7.499 7.139 6.805 6.495 5.938 5.453 5.234 5.029 4.656 4.327 11.255 10.575 9.954 9.385 8.863 8.384 7.943 7.536 7.161 6.814 6.194 5.660 5.421 5.197 4.793 4.439 12.134 11.348 10.635 9.986 9.394 8.853 8.358 7.904 7.487 7.103 6.424 5.842 5.583 5.342 4.910 4.533 13.004 12.106 11.296 10.563 9.899 9.295 8.745 8.244 7.786 7.367 6.628 6.002 5.724 13.865 12.849 11.938 11.118 10.380 9.712 9.108 8.559 8.061 7.606 6.811 6.142 5.847 14.718 13.578 12.561 11.652 10.838 10.106 9.447 8.851 8.313 7.824 6.974 6.265 5.954 5.669 5.162 4.730 Period 17 15.562 14.292 13.166 12.166 11.274 10.477 9.763 9.122 8.544 8.022 7.120 6.373 6.047 5.749 5.222 4.775 Period 18 16.398 14.992 13.754 12.659 11.690 10.828 10.059 9.372 8.756 8.201 7.250 6.467 6.128 5.818 5.273 4.812 Period 19 17.226 15.678 14.324 13.134 12.085 11.158 10.336 9.604 8.950 8.365 7.366 6.550 6.198 5.877 5.316 4.844 Period 20 18.046 16.351 14.877 13.590 12.462 11.470 10.594 9.818 9.129 7.469 6.623 6.259 5.929 5.353 4.870 Period 21 18.857 17.011 15.415 14.029 12.821 11.764 10.836 10.017 9.292 8.649 7.562 6.687 6.312 5.973 5.384 4.891 Period 22 19.660 17.658 15.937 14.451 13.163 12.042 11.061 10.201 9.442 8.772 7.645 6.743 6.359 6.011 5.410 4.909 Period 23 20.456 18.292 16.444 14.857 13.489 12.303 11.272 10.371 9.580 8.883 7.718 6.792 6.399 6.044 5.432 4.925 Period 24 21.243 18.914 16.936 15.247 13.799 12.550 11.469 10.529 9.707 8.985 7.784 6.835 6.434 6.073 5.451 4.937 Period 25 22.023 19.523 17.413 15.622 14.094 12.783 11.654 10.675 9.823 9.077 7.843 6.873 6.464 6.097 5.467 4.948 4.623 4.486 4.355 3.685 3.498 3.326 5.206 5.033 4.868 4.039 3.812 3.605 5.747 5.535 5.335 4.344 4.078 3.837 5.468 5.008 4.611 5.575 5.092 4.675 8.514 Print Done Future Value of Ordinary Annuity of $1 Periods Period 1 1% 1.000 Period 2 2% 3% 4% 1.000 1.000 1.000 2.010 2.020 2.030 2.040 Period 3 3.030 3.060 3.091 3.122 5% 6% 7% 1.000 1.000 1.000 2.050 2.060 2.070 3.153 3.184 3.215 Period 4 4.060 4.122 4.184 4.246 4.310 4.375 4.440 Period 5 5.101 5.204 5.309 5.416 5.526 5.637 5.751 8% 9% 1.000 1.000 2.080 2.090 2.100 2.120 2140 2150 3.246 3.278 3.310 3.374 3.440 3.473 4.506 4.573 4.641 4.779 4.921 4.993 5.867 5.985 6.105 6.353 6.610 6.742 10% 12% 14% 15% 1.000 1.000 1.000 1.000 Period 6 6.152 6.308 6.468 6.633 6.802 6.975 7.153 Period 7 7.214 7.434 7.662 7.898 8.142 8.394 Period 8 8.286 8.583 8.892 9.214 9.549 9.897 10.260 10.64 11.03 11.44 Period 9 9.369 9.755 10.16 10.58 11.03 11.49 Period 10 10.46 10.95 11.46 12.01 12.58 13.18 7.336 7.523 7.716 8.115 8.536 8.754 8.654 8.923 9.200 9.487 10.09 10.73 11.07 12.30 13.23 13.73 11.98 12.49 13.02 13.58 14.78 16.09 16.79 13.82 14.49 15.19 15.94 17.55 19.34 20.30 Period 11 11.57 12.17 12.81 13.49 14.21 14.97 Period 12 12.68 13.41 14.19 15.03 15.92 15.78 16.65 17.56 18.53 20.65 23.04 24.35 16.87 17.89 18.98 20.14 21.38 24.13 27.27 29.00 Period 13 13.81 14.68 15.62 16.63 17.71 18.88 20.14 21.50 22.95 24.52 28.03 32.09 34.35 Period 14 14.95 15.97 17.09 18.29 19.60 21.02 22.55 24.21 26.02 27.98 32.39 37.58 40.50 Period 15 16.10 17.29 18.60 20.02 21.58 23.28 25.13 27.15 29.36 31.77 37.28 43.84 47.58 Period 16 17.26 18.64 20.16 21.82 23.66 25.67 27.89 Period 17 18.43 20.01 21.76 23.70 25.84 28.21 Period 18 19.61 21.41 23.41 25.65 28.13 30.91 Period 19 20.81 22.84 25.12 27.67 30.54 33.76 Period 20 22.02 24.30 26.87 29.78 33.07 36.79 30.32 33.00 35.95 42.75 50.98 55.72 30.84 33.75 36.97 40.54 48.88 59.12 65.08 34.00 37.45 41.30 45.60 55.75 68.39 75.84 37.38 41.45 46.02 51.16 63.44 78.97 88.21 41.00 45.76 51.16 57.28 72.05 91.02 102.4 Period 21 23.24 25.78 28.68 31.97 35.72 39.99 Period 22 24.47 27.30 30.54 34.25 38.51 43.39 44.87 50.42 56.76 64.00 49.01 55.46 62.87 71.40 Period 23 25.72 28.85 32.45 36.62 41.43 47.00 Period 24 26.97 30.42 34.43 39.08 44.50 50.82 Period 25 28.24 32.03 36.46 41.65 47.73 54.86 81.70 104.8 118.8 92.50 120.4 137.6 53.44 60.89 69.53 79.54 104.6 138.3 159.3 58.18 66.76 76.79 88.50 118.2 158.7 184.2 63.25 73.11 84.70 98.35 133.3 181.9 212.8