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Kyle is entering high school and is determined to save money for college, Kyle feels he can save $4,500 each year for the next four
Kyle is entering high school and is determined to save money for college, Kyle feels he can save $4,500 each year for the next four years from his part-time job. If Kyle is able to invest at 8%, 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 S1 table. Click the icon to view Future Value of 51 table) Click the icon to view Future Value of Ordinary Annuity of S1 table) (Round your answer to the nearest dollar) When Kyle starts college he will have Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% 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 0.833 Period 2 0.980 0.961 0.943 0.925 0.907 0.890 0.873 0.857 0.842 0.826 0.797 0.769 0.756 0.743 0.718 0.694 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 0.6410.609 0.579 Period 4 0.961 0.924 0.888 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.636 0.592 0.572 0.552 0.516 0.482 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 0497 0.476 0.437 0.402 Period 6 0.942 0.888 0.837 0.790 0.746 0.705 0.666 0.630 0.596 0.564 0.507 0.456 0.432 0.410 0.370 0.335 Period 7 0.933 0.871 0.813 0.760 0.7110.665 0.623 0.583 0.547 0.513 04520.400 0.376 0.35403140.279 Period 8 0.923 0.853 0.789 0.731 0.677 0.627 0.5820.540 0.502 0.467 0.4040.351 0.327 0.305 0.266 0.233 Period 9 0.914 0.837 0.766 0.703 0.645 0.5920.5440.500 0.460 0.4240361 0.3080284 0.263 0.225 0.194 Period 10 0.905 0.820 0.744 0.676 0.614 0.558 0.508 0.463 0.422 0.386 0322 0.270 0.2470 227 0.1910.162 Period 11 0.896 0.8040.722 0.650 0.585 0.527 0.475 0.429 0.3880.350 0.287 0.237 0.215 0.1950.162 0.135 Perid 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 0.4690415 0.368 0.3260.290 0.229 0.182 0.163 0.145 0.116 0.093 Period 14 0.870 0.758 0.651 0.577 0.505 0.442 0.388 0.340 0299 0.263 0.205 0.1600.141 0.125 0.099 0.078 Period 15 0.861 0.743 0.642 0.555 0.481 0.417 0.362 0.315 0275 0.239 0.183 0.140 0.123 0.108 0.084 0.065 Period 16 0.853 0.728 0.623 0.534 0458 0.394 0.339 0.292 0252 0218 0.163 0.123 0.1070093 0.071 0.054 Period 17 0.844 0.714 0.605 0.513 0.436 0.371 0.317 0.270 0.2310.1980.146 0.108 0.093 0.080 0.060 0.045 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 0.051 0.038 Period 19 0.828 0.686 0.570 0.475 0.396 0.331 0.277 0.232 0.194 0.1640.116 0.083 0.070 0.060 0.043 0.031 Period 20 0.820 0.673 0.5540.456 0.377 0.3120.258 0.215 0.178 0.149 0.104 0.073 0061 0.051 0.037 0.026 Period 21 0.811 0.660 0.538 0.439 0.359 0.294 0242 0.1990.1640.135 0.093 0.064 0.053 0.044 0.031 0.022 14% 9 Present Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 15% 16% 18% 20% 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 0.833 Period 2 1.970 1.942 1.913 1.886 1.859 1.833 1.808 1.783 1.759 1.736 1690 1.647 1.626 1.605 1.566 1.528 Period 3 2.9412.884 2.829 2.775 2.723 2.673 2.624 2577 2.531 2487 2402 2.3222283 2246 2.174 2.106 Period 4 3.902 3.808 3.717 3.630 3546 3.465 3.387 3.312 3.240 3.170 3.037 2.9142855 2.798 2.690 2.589 Period 5 4.853 4.7134.580 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 Period 6 5.795 5.601 5.417 5.242 5.076 4.917 4.767 4.623 4.486 4.355 4.111 3.8893.7843.685 3.498 3.326 Period 7 6.728 6.4726.230 6.002 5.786 5.582 5.389 5.206 5,033 4.868 4.564 4.288 4.160 4,039 3.812 3.605 Period 8 7.652 7325 7.020 6.733 6.463 6.210 5.971 5.747 5.535 5.335 4.968 4.6394.487 4.344 4.078 3.837 Period 9 8.566 8.162 7.786 7.435 7.108 6.802 6.515 6247 5.995 5.759 5.328 4.946 4.772 4607 4.303 4.031 Period 10 9.471 8.983 8.530 8.111 7.722 7.360 7.0246.710 6.418 6.145 5.650 5216 5.019 4.833 4.494 4.192 Period 11 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 12 11.255 10.575 9.954 9.385 8.863 8.384 7.943 7.536 7.161 6.814 6.194 5.660 5421 5.197 4793 4.439 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 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 4.611 Period 15 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 5.575 5.092 4.675 Period 16 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 5.6695.1624.730 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 11690 10.828 10.059 9.372 8.756 8.201 7.250 6.4676.128 5.818 5.273 4812 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 8.514 7.469 6,623 6.259 5.929 5.353 4.870 Period 21 18.857 17.011 15.415 14.029 12821 11.764 10.836 10.017 9.292 8.649 7.562 6.687 6.3125.973 5.384 4.891 Future Value of $1 k the icd our ans Periods Period 1 Period 2 Period 3 Period 4 Period 5 Ve starts Period 6 Period 7 Period 8 Period 9 Period 10 Period 11 Period 12 Period 13 Period 14 Period 15 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 1.010 1.020 1.030 1.040 1.050 1.050 1.070 1.080 1.090 1.100 1.120 1.140 1.150 1.020 1.040 1.061 1.0821.103 1.124 1.145 1.166 1.1881.210 1.254 1.300 1.323 1.030 1.061 1.093 1.125 1.158 1.1911 225 1.260 1.295 1.331 1.405 1482 1.521 1.041 1.082 1.126 1.1701216 1.262 1.311 1.360 14121.464 1.574 1.689 1.749 1.051 1.104 1.159 1.217 1.276 1.338 1.403 1469 1.539 1.611 1.762 1.925 2011 1.062 1.126 1.194 1.265 1.340 1.419 1.501 1.587 1.677 1.772 1.974 2.195 2.313 1.072 1.149 1.230 1.316 1.407 1.504 1.606 1714 1828 1949 2211 2.502 2.660 1.083 1.172 1.267 1.369 1.477 15941718 1.851 1.993 2.144 2.476 2853 3.059 1.094 1.195 1.305 1423 1551 1689 1838 1.999 2.172 2358 2.773 3.252 3.518 1.105 1.219 1.3441480 1.629 17911 967 2.159 2367 2.594 3.106 3.707 4.046 1.116 1 243 1.384 1.539 1.710 1.898 2.105 2332 2580 2853 3.479 4 226 4652 1.127 1268 1426 1.601 1796 2.012 2.252 2518 2.813 3.138 3.896 4818 5350 1.138 1.2941.469 1.665 1.886 2.133 2410 2.720 3.066 3.452 4.363 5.492 6.153 1.149 1.319 1.513 1.732 1.980 2.261 2.579 2.937 3.342 3.798 4.887 6.2617.076 1.161 1.346 1.558 1801 2079 2397 2.759 3.172 3.6424177 5.474 7.138 8.137 1.173 1.373 1.605 1873 2.183 2.540 2.952 3.426 3.970 4.595 6.130 8.137 9.358 1,184 1.400 1.653 1.948 2292 2.693 3.159 3.700 4328 5054 6,866 9 276 10.76 1.196 1428 1.702 2.026 2.407 2.854 3.380 3.996 4.717 5.560 7690 10.58 1238 1 208 1457 1.754 2.107 2527 3.026 3.617 4 316 5.142 6.116 8.613 12.06 1423 1.220 1.486 1.806 2.191 2.653 3.207 3.870 4.661 5.6046.727 9.646 13.74 16:37 1.232 1.516 1.860 2279 2786 3400 4.141 5.034 6.109 7.400 10.80 15.67 1882 Period 16 Period 17 Period 18 Period 19 Period 20 Period 21 Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 Period 11 Period 12 Period 13 Period 14 Period 15 Period 16 Period 17 Period 18 Period 19 Period 20 Period 21 Future Value of Ordinary Annuity of $1 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 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 2.010 2.020 2030 2040 2.050 2060 2.070 2.080 2.090 2.100 2.120 2.140 2.150 3.0303.060 3.091 3.122 3.153 3.1843.215 3.246 3.278 3.310 3.374 3.440 3.473 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 5.101 5.204 5.309 5.416 5.526 5.637 5.751 5.867 5,985 6.105 6.353 6.610 6.742 6.152 6.308 6.468 6.633 6.802 6.9757.153 7.336 7.523 7.716 8.115 8.536 8.754 7.214 7.4347.662 7.898 8.142 8.394 8.654 8.923 9.200 9.487 10.09 10.73 11.07 8.286 8.583 8.892 9.2149.549 9.897 10.260 10.64 11.03 11.44 12.30 13.23 13.73 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 10.46 10.95 11.46 12.01 12.58 13.18 13.82 14.49 15.1915.94 17.55 19.34 20.30 11.57 12.17 12.8113.49 14.21 14.97 15.78 16.65 17.56 18.53 20.65 23.04 24.35 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 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 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 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 17.26 18.64 20.16 21.82 23.66 25.67 27.89 30.32 33.00 35.95 42.75 50.98 55.72 18.43 20.01 21.76 23.70 25.84 28.21 30.84 33.75 36.97 40.54 48.88 59.12 65.08 19.61 21.41 23.41 25.65 28.13 30.91 34.00 37.45 41.30 45.60 55.75 68.39 75.84 20.81 22.84 25.12 27.67 30.54 33.76 37.38 41.45 46.02 51.16 63.44 78.97 88.21 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 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
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