Kyle is entering high school and is determined to save money for college. Kyle feels he can save $1,500 each year for the next four years from his part-time job. If Kyle is able to invest at 10%, how much will he have when he starts college? (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.) (Round your answer to the nearest dollar.) When Kyle starts college he will haveReference Present value of $1 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% Periods 1% 2% 3% 4% 0.990 | 0.980 0.971 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 Period 1 0.925 0.718 0.694 Period 2 0.980 0.961 0.943 0.907 0.890 0.873 0.857 0.842 0.826 0.797 0.769 0.756 0.743 Period 3 0.971 0.942 0.915 0.889 0.864 0.840 0.816 0.794 0.772 0.751 0.712 0.675 0.658 0.641 0.609 10.579 0.552 0.516 0.482 Period 4 0.961 0.924 0.888 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.636 1.592 0.572 0.497 0.476 0.437 0.402 Period 5 0.951 0.906 0.863 0.822 0.784 0.747 0.713 0.681 0.650 0.621 0.567 0.519 0.705 0.666 0.630 0.596 0.564 0.507 0.456 0.432 0.410 0.370 0.335 Period 6 0.942 0.888 0.837 0.790 0.746 0.279 Period 7 0.933 0.871 0.813 0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.452 0.400 0.376 0.354 0.314 0.327 0.305 0.266 0.233 Period 8 0.923 0.853 0.789 0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.404 0.351 Period 9 0.914 0.837 0.766 0.703 0.645 0.592 0.544 0.500 0.460 0.424 0.361 0.308 0.284 0.263 0.225 0.194 0.614 0.558 0.508 0.463 0.422 0.386 0.322 0.270 0.247 0.227 0.191 0.162 Period 10 0.905 0.820 0.744 0.676 Period 11 0.896 0.804 0.722 0.650 0.585 0.527 0.475 0.429 0.388 0.350 0.287 0.237 0.215 0.195 0.162 0.135 Period 12 |0.887 0.788 0.701 0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.257 0.208 0.187 0.168 0.137 0.112 Period 13 0.879 0.773 0.681 0.601 0.530 0.469 0.415 0.368 0.326 0.290 0.229 0.182 0.163 0.145 0.116 0.093 Period 14 0.870 0.758 0.661 0.577 0.505 0.442 0.388 0.340 0.299 0.263 0.205 0.160 0.141 0.125 0.099 0.078 0.861 0.743 0.642 0.555 0.481 0.417 0.362 0.315 0.275 0.239 0.183 0.140 0.123 0.108 0.084 0.065 Period 15 Period 16 0.853 0.728 0.623 0.534 0.458 0.394 0.339 0.292 0.252 0.218 0.163 0.123 0.107 0.093 0.071 0.054 0.060 0.045 Period 17 0.844 0.714 0.605 0.513 0.436 0.371 0.317 0.270 0.231 0.198 0.146 0.108 0.093 0.080 0.051 0.038 Period 18 0.836 0.700 0.587 0.494 0.416 0.350 0.296 0.250 0.212 0.180 0.130 0.095 0.081 0.069 0.070 0.060 0.043 0.031 Period 19 0.828 0.686 0.570 0.475 0.396 0.331 0.277 0.232 0.194 0.164 0.116 0.083 0.026 Period 20 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 0.439 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 21 0.811 0.660 0.538 0.056 0.046 0.038 0.026 0.018 Period 22 0.803 0.647 0.522 0.422 0.342 0.278 0.226 0.184 0.150 0.123 0.083 0.507 0.406 0.326 0.262 0.211 0.170 0.138 0.112 0.074 0.049 0.040 0.033 0.022 0.015 Period 23 0.795 0.634 0.390 0.310 0.247 0.197 0.158 0.126 0.102 0.066 0.043 0.035 0.028 0.019 0.013 Period 24 0.788 0.622 0.492 0.375 0.295 0.233 0.184 0.146 0.116 0.092 0.059 0.038 0.030 0.024 0.016 0.010 Period 25 0.780 0.610 0.478 0.021 0.014 0.009 Period 26 0.772 0.598 0.464 0.361 0.281 0.220 0.172 0.135 0.106 0.084 0.053 0.033 0.026 Period 27 0.764 0.586 0.450 0.347 0.268 0.207 0.161 0.125 0.098 0.076 0.047 0.029 0.023 0.018 0.011 0.007 Period 28 0.757 0.574 0.437 0.333 0.255 0.196 0.150 0.116 0.090 0.069 0.042 0.026 0.020 0.016 0.010 0.006 0.005 Period 29 0.749 0.563 0.424 0.321 0.243 0.185 0.141 0.107 0.082 0.063 0.037 0.022 0.017 0.014 0.008 0.308 0.231 0.174 0.131 0.099 0.075 0.057 0.033 0.020 0.015 0.012 0.007 0.004 Period 30 0.742 0.552 0.412 Period 40 |0.672 0.453 0.307 0.208 0.142 0.097 0.067 0.046 0.032 0.022 0.011 0.005 0.004 0.003 0.001 0.001 0.001 Period 50 0.608 0.372 0.141 0.087 0.034 0.009 0.003 0.001 0.001 0.228 0.054 0.021 0.013Reference Future Value of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 1.030 1.040 1.050 1.060 1.070 1.080 1.090 1.100 1.120 1.140 1.150 Period 1 1.010 1.020 1.040 1.061 1.082 1.103 1.124 1.145 1.166 1.188 1.210 1.254 1.300 1.323 Period 2 1.020 Period 3 1.030 1.061 1.093 1.125 1.158 1.191 1.225 1.260 1.295 1.331 1.405 1.482 1.521 Period 4 1.041 1.082 1.126 1.170 1.216 1.262 1.311 1.360 1.412 1.464 1.574 1.689 1.749 Period 5 1.104 1.159 1.217 1.276 1.338 1.403 1.469 1.539 1.611 1.762 1.925 2.011 1.051 Period 6 1.126 1.194 1.265 1.340 1.419 1.501 1.587 1.67 1.772 1.974 2.195 2.313 1.062 1.149 1.230 1.316 1.407 1.504 1.606 1.714 1.828 1.949 2.211 2.502 2.660 Period 7 1.072 Period 8 1.083 1.172 1.267 .369 1.477 1.594 1.718 1.851 1.993 2.144 2476 2.853 3.059 Period 9 1.094 1.195 1.305 1.423 1.551 1.689 1.838 1.999 2.172 2.358 2.773 3.252 3.518 1.219 1.344 1.480 1.629 1.791 1.967 2.159 2.367 2.594 3.106 3.707 4.046 Period 10 1.105 Period 11 1.116 1.243 1.384 1.539 1.710 1.898 2 105 2.332 2.580 2.853 3.479 4.226 4.652 Period 12 1.127 1.268 1.426 .601 1.796 2.012 2 252 2.518 2.813 3.138 3.896 4.818 5.350 Period 13 1.138 1.294 1.469 1.665 1.886 2.133 2410 2.720 3.066 3.452 4.363 5.492 6.153 Period 14 .149 1.319 1.513 1.732 1.980 2 261 2.579 2.937 3.342 3.798 4.887 6.261 7.076 Period 15 1.161 1.346 1.558 1.801 2.079 2.397 2.759 3.172 3.642 4.177 5.474 7.138 8.137 2.183 2.540 3.426 4.595 9.358 Period 16 1.173 1.373 1.605 1.873 2.952 3.970 6.130 8.137 |Period 17 1.184 1.400 1.653 1.948 2.292 2.693 3.159 3.700 4.328 5.054 6.866 9.276 10.76 Period 18 1.196 1.428 1.702 2.026 2.407 2.854 3.380 3.996|4.717 5.560 7.690 10.58 12.38 Period 19 1.208 1.457 1.754 2.107 2.527 3.026 3.617 4.316 5.142 6.116 8.613 12.06 14.23 Period 20 1.220 1.486 1.806 2.191 2.653 3.207 3.870 4.661 5.604 6.727 9.646 13.74 16.37 Period 21 1.232 1.516 1.860 2.279 2.786 3.400 | 4.141 5.034 6.109 7.400 10.80 15.67 18.82 Period 22 1.245 1.546 1.916 2.370 2.925 3.604 4.430 5.437 6.659 8.140 12.10 17.86 21.64 Period 23 1.257 1.577 1.974 2.465 3.072 |3.820 4.741 5.871 7.258 8.954 13.55 20.36 24.89 Period 24 1.270 1.608 2.033 2.563 3.225 4.049 5.072 6.341 | 7.911 9.850 15.18 23.21 28.63 Period 25 1.282 1.641 2 094 2.666 3.386 4.292 5.427 6.848 | 8.623 10.83 17.00 26.46 32.92 Period 26 1.295 1.673 2.157 2.772 3.556 4.549 5.807 7.396 9.399 11.92 19.04 30.17 37.86 Period 27 1.308 1.707 2 221 2.883 3.733 4.822 6.214 7.988 10.25 13.11 21.32 34.39 43.54 Period 28 1.321 1.741 2 288 2.999 3.920 5.112 6.649 8.627 11.17 14.42 23.88 39.20 50.07 Period 29 1.335 1.776 2.357 3.119 4.116 5.418 7.114 9.317 12.17 15.86 26.75 44.69 57.58 1.811 2427 3.243 4.322 5.743 7.612 10.06 13.27 17.45 29.96 50.95 66.21 Period 30 1.348 Period 40 1.489 2.208 3.262 4.801 7.040 10.29 14.97 21.72 31.41 45.26 93.05 188.9 267.9 Period 50 1.645 |2.692 4.384 7.107 11.47 18.42 29.46 46.90 | 74.36 117.4 289.0 |700.2 1,084Reference Present value of Ordinary Annuity of $1 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% Periods 0.833 Period 1 0.990 0.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.893 0.877 0.870 0.862 0.847 1.626 1.605 1.566 1.528 Period 2 1.970 1.942 1.913 1.886 1.859 1.833 1.808 1.783 1.759 1.736 1.690 1.647 2.941 2.884 2.829 2.775 2.723 2.673 2.624 2.577 2.531 2.487 2402 2.322 2 283 2.246 2.174 2.106 Period 3 Period 4 3.902 3.808 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.037 2.914 2.855 2.798 2.690 2.589 Period 5 4.853 4.713 4.580 4 452 4.329 4.212 4.100 3.993 3.890 3.791 3.605 3.433 3.352 3.274 3.127 2.991 5.076 4.917 4.767 4.623 4.486 4 355 4.111 3.889 3.784 3.685 3.498 3.326 Period 6 5.795 5.601 5.417 5.242 4.564 4.288 4.160 4.039 3.812 3.605 Period 7 6.728 6.472 6.230 6.002 5.786 5.582 5.389 5.206 5.033 1.868 4.639 4.487 4.344 4.078 3.837 Period 8 7.652 7.325 7.020 6.733 6.463 6.210 5.971 5.747 5.535 5.335 4.968 4 031 Period 9 8.566 8.162 7.786 7.435 7.108 6.802 6.515 6.247 5.995 5.759 5.328 4.946 4.772 4.607 4.303 Period 10 9.471 8.983 8.530 8.111 7.722 7.360 7.024 6.710 6.418 6.145 5.650 5.216 5.019 4.833 4.494 4.192 10.368 9.787 9.253 8.760 8.306 7.887 7.499 7.139 6.805 6.495 5.938 5.453 5.234 5.029 4.656 4.327 Period 11 4.439 Period 12 1.255 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 Period 13 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 4.611 Period 14 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 5.468 5.008 6.142 5.847 5.575 5.092 4.675 Period 15 13.865 12.849 11.938 11.118 10.380 9.712 9.108 8.559 8.061 7.606 6.811 14.718 13.578 12.561 11.652 10.838 10. 8.851 8.313 7.824 6.974 6.265 5.954 5.669 5.162 4.730 Period 16 6.373 6.047 5.749 5.222 4.775 Period 17 15.562 14.292 13.166 12.166 11.274 10.477 9.763 9.122 8.544 8.022 7.120 4.812 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 4.844 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 Period 20 18.046 16.351 14.877 13.590 12 462 11.470 10.594 9.818 |9.129 8.514 7.469 6.623 6.259 5.929 5.353 4.870 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 21 18.857 17 011 15.415 14.029 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 22 19.660 17.658 15.937 14.451 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 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 Period 25 22.795 20.121 17.877 6.906 6.118 5.480 4.956 15.983 9.161 7.896 6.491 Period 26 14.375 13.003 11.826 10.810 9.929 23.560 0 20.707 18.327 16.330 14.643 13.211 11.987 10.935 10.027 9.237 7.943 6.935 6.514 6.136 5.492 4.964 Period 27 16.663 14 898 13.406 12.137 11.051 10.116 |9.307 7.984 6.961 6.534 6.152 5.502 4.970 Period 28 24.316 21.281 18.764 25.066 21.844 19.188 16.984 15 141 13.591 12 278 11.158 10.198 9.370 8.022 6.983 6.551 6.166 5.510 4.975 Period 29 7.003 6.566 4.979 |Period 30 25.808 22.396 19.600 17.292 15.372 13.765 12.409 11.258 10.274 9.427 8.055 6.177 5.517 Period 40 32.835 27.355 23.115 5 19.793 17.159 15.046 13.332 11.925 10.757 9.779 8.244 7.105 6.642 6.233 5.548 4.997 0 21.482 18.256 15.762 13.801 12 233 10.962 9.915 7.133 6.661 6.246 5.554 4.999 Period 50 39.196 31.424 25.730 8.304Reference Future Value of Ordinary Annuity of $1 15% Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 1.000 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 2150 Period 2 2010 2.020 2030 2.040 2 050 2.060 2.070 2.080 2090 2.100 2.120 2140 Period 3 3.030 3.060 3.091 3.122 3.153 3.184 3.215 3.246 3.278 3.310 3.374 3.440 3.473 Period 4 4.060 4.122 4.184 4.246 4.310 4.375 4.440 4.506 4.573 4.641 4.779 4.921 4.993 Period 5 6.101 5.204 5.309 5.416 5.526 5.637 5.751 5.867 5.985 6.105 6.353 6.610 6.742 Period 6 .152 6.308 6.468 6.633 6.802 6.975 7.153 7.336 7.523 7.716 8.115 8.536 8.754 Period 7 7.214 7.434 7.662 7.898 8.142 8.394 8.654 8.923 9.200 9.487 10.09 10.73 11.07 Period 8 8.286 8.583 8.892 9.214 9.549 9.897 10.260 10.64 11.03 11.44 12.30 13.23 13.73 Period 9 .369 9.755 10.16 10.58 11.03 11.49 11.98 12.49 13.02 13.58 14.78 16.09 16.79 Period 10 11.46 12.01 12.58 13.18 13.82 14.49 15.19 15.94 17.55 19.34 20.30 10.46 10.95 Period 11 11.57 12.17 12.81 13.49 14.21 14.97 15.78 16.65 17.56 18.53 20.65 23.04 24.35 Period 12 12.68 13.41 14.19 15.03 15.92 16.87 17.89 18.98 20.14 21.38 24.13 27.27 29.00 34.35 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 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 64 20.16 21.82 23.66 25.67 27.89 30.32 33.00 35.95 42.75 50.98 55.72 Period 16 17.26 Period 17 18.43 20.01 121.76 23.70 25.84 28.21 30.84 33.75 36.97 40.54 48.88 59.12 65.08 55.75 68.39 75.84 Period 18 19.61 21.41 23.41 25.65 28.13 30.91 34.00 37.45 41.30 45.60 88.21 Period 19 20.81 22.84 25.12 27.67 30.54 33.76 37.38 41.45 46.02 51.16 63.44 78.97 Period 20 22.02 24.30 26.87 29.78 33.07 36.79 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 44.87 50.42 56.76 64.00 81.70 104.8 118.8 120.4 137.6 Period 22 24.47 27.30 30.54 34.25 38.51 43.39 49.01 55.46 62.87 71.40 92.50 Period 23 25.72 28.85 32.45 36.62 41.43 47.00 53.44 60.89 69.53 | 79.54 104.6 138.3 159.3 30.42 34.43 39.08 44.50 50.82 58.18 66.76 76.79 88.50 118.2 158.7 184.2 Period 24 26.97 Period 25 32.03 36.46 41.65 47.73 54.86 63.25 73.11 84.70 98.35 133.3 181.9 212.8 28.24 Period 26 29.53 33.67 38.55 44.31 51.11 59.16 68.68 79.95 93.32 109.2 150.3 208.3 245.7 Period 27 30.82 35.34 40.71 47.08 54.67 63.71 74.48 87.35 102.7 121.1 169.4 238.5 283.6 327.1 Period 28 32.13 37.05 42.93 49.97 58.40 68.53 80.70 95.34 113.0 134.2 190.7 272.9 Period 29 33.45 38.79 45.22 52.97 62.32 73.64 87.35 104.0 124.1 148.6 214.6 312.1 377.2 Period 30 34.78 40.57 47.58 56.08 66.44 79.06 94.46 113.3 136.3 164.5 241.3 356.8 434.7 Period 40 48.89 60.40 |75.40 95.03 120.8 154.8 199.6 259.1 337.9 442.6 767.1 1,342 1,779 Period 50 64.46 84.58 112.8 152.7 209.3 290.3 406.5 573.8 815.1 1,164 2,400 4,995 7,218