Laurel wants to take the next six years of work to travel around the world. She estimates het annual cash needs at $32,000 if she needs more, she'll work odd jobs) Laurel believes she can invest her savings at 10% until the depletes her funds (click the icon to view the present value annuty table) Click the icon to view the procent value table Cikk the con to view the future value annuity table) (click me icon to view the future value table.) Requirements 1. How much money does Laurel need now to fund hor travels? After checking with a number of banks, Laurel Seams she'll be able to invest her funds only at 8% How much does she need now to fund her travels? 2 Requirement 1. How much money does Laurel need now to fund ber travels? Calculate how much money Laurel needs now to fund her travels (Round your answers to the nearest whole dollar) Wth the 10% eroste. Laurel needs Requirement 2. After checking with a number of banks, Laurel foams she'll be able to livent har funds only at 8%. How much does the need now to fund her travels? Calculate how much the needs to fund hat travels if she didn't get the 10% interest rate this had originally planned (Round your answers to the nearest whole dollar) with an 8% interest rate Lourel would need IF Laurel's savings are eaming a lower interest rate (8%), she'll need to save to be able to withdraw $32.000 per your ements Reference Present Value of Annuity of S1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% Period 10.990 0.980 0,971 0.962 0.952 0.943 0.926 0.909 0.893 0.877 0.862 0.847 0.833 Period 2 1.970 1.942 1.913 1.886 1.859 1.833 1.783 1.736 1.6901.647 1.605 1.566 1.528 Period 3 2.941 2.884 2.8292.775 2.723 2.673 2.577 2.487 2.402 2.322 2.246 2.174 2.106 Period 4 3.902 3.808 3.7173.630 3.546 3.465 3.312 3.170 3.037 2.914 2.798 2.690 2.589 Period 5 4.853 4.713 4.580 4.452 4.329 4.212 3.993 3.791 3.605 3.433 3.274 3.127 | 2.991 Period 6 5.795 5.601 5.417 5.2425.076 4.917 4.623 4.355 4.111 3.889 3.685 3.498 3.326 Period 7 6.728 6,472 6.230 6.0025.786 5.5825.206 4.868 4.564 4.288 4.039 3.812 3.605 Period 8 7.652 7.325 7.020 6.733 6,463 6.210 5.747 5.335 49684.6394.344 4.078 3.837 Period 98.566 8.162 7.786 7.435 7.108 6.8026.247 5.759 5.328 4.9464.607 4.303 4.031 Period 9.471 8.983 8.530 8.111 7.722 7.360 6.710 6.145 5.650 5,216 4.833 4.494 4.192 10 Period 11 10.3689.787 9.2538.760 8.3067.887 7.139 6.495 5.938 5.453 5.029 4.656 4.327 Period 11.255 10,575 9.954 9.3858.863 8.384 7.536 6.814 6.1945.6605.197 4.793 4.439 12 Period 12.13411.348 10.635 9.9869.394 8.853 7.904 7.103 6.424 5.842 5.342 4.910 4.533 13 Period 13,004 12.106 11.29610.563 9.899 9.295 8.244 7.367 6,6286.002 5.468 5.008 4.611 13.865 12.849|11.938 11.11810.380 9.7128.5597.6066.811 Period 15 6.142 5.575 5.092 4.675 Period 18.046 16.351 14.877 13.590 12.462 11.470 9.818 8.514 7.4696.623 5.929 5.353 4.870 Reference ve Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% Period 10.990 0,980 0.971 0.962 0.952 0.943 0.926 0.909 0.893 0.877 0.862 0.847 0.833 Period 20.9800.961 0.943 0.925 0.907 0.890 0.8570.826 0.797 0.769 0.7430.7180.694 Period 30.971 0.942 0.915 0.889 0.864 0.840 0.794 0.751 0.712 0.675 0.641 0.609 0.579 Period 40.961 0.924 0.888 0.855 0.823 0.792 0.735 0.683 0.636 0.592 0.552 0.516 0.482 Period 5 0.951 0.906 0.863 0.822 0.784 0.747 0.681 0.621 0.567 0.519 0.476 0.437 0.402 Period 6 0.942 0.888 0.837 0.790 0.746 0.705 0.630 0.564 0.507 0.456 0.410 0.370 0.335 Period 70.933 0.8710.8130.7600.7110.665 0.583 0.513 0.4520.400 0.354 0.3140.279 Period 8 0.923 0.853 0.789 0.731 0.677 0.627 0.540 0.467 0.404 0.3510.305 0.266 0.233 Period 90.914 0.837 0.766 0.703 0.6450.5920.500 0.424 0.361 0.308 0.263 0.225 0.194 Period 0.905 0.820 0.744 0.676 0.614 0.558 0.463 0.386 0.322 0.270 0.227 0.1910.162 10 und Ist w 0.896 0.8040.722 0.650 0.585 0.527 0.429 0.350 0.287 0.237 0.1950.162 0.135 0.887 0.788 0.701 0.625 0.557 0.497 0.397 0.319 0.257 0.208 0.1680.137 0.112 Period 11 Period 12 Period 13 Period 14 Period 15 0.879 0.773 0.681 0.601 0.530 0.469 0.368 0.290 0.229 0.182 0.145 0.116 0.093 0.870 0.7580.661 0.577 0.505 0.442 0.340 0.263 0.2050.160 0.125 0.099 0.078 0.861 0.743 0.642 0.555 0.481 0.417 0.315 0.239 0.183 0.140 0.108 0.084 0.065 hel wi m tre ra SH Future Value of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% 18% 20% Period 1 1.010 1.020 1.030 1.040 1.050 1.060 1.080 1.100 1.120 1.140 1.160 1.180 1.200 Period 2 1.020 1.040 1.061 1.082 1.103 1.124 1.166 1.210 1.254 1.300 1.346 1.392 1.440 Period 3 1.030 1.061 1.093 1.125 1.1581.191 1.260 1.331 1.405 1.482 1.561 1.643 1.728 Period 4 1.041 1.082 1.126 1.170 1.216 1.262 1.360 1.464 1.574 1.689 1.811 1.939 2.074 Period 5 1.051 1.104 1.159 1.217 1.276 1.338 1.469 1.611 1.762 1.925 2.100 2.288 2.488 Period 6 1.062 1.126 1.194 1.265 1.340 1.419 1.587 1.772 1.974 2.195 2.436 2.700 2.986 Period 7 1.072 1.149 1.230 1.316 1.407 1.504 1.714 1.949 2.211 2.502 2.826 3.185 3.583 Period 8 1.083 1.1721.267 1.369 1.477 1.594 1.851 2.144 2.476 2.853 3.278 3.759 4.300 Period 9 1.094 1.195 1.305 1.423 1.551 1.689 1.999 2.358 2.773 3.252 3.803 4.435 5.160 Period 10 1.105 1.219 1.344 1.480 1.629 1.791 2.159 2.594 3.106 3.707 4.411 5.234 6.192 Period 11 1.116 1.243 1.384 1.539 1.710 1.898 2.332 2.853 3.479 4.226 5.1176.176 7.430 Period 12 1127 1.268 1.426 1.601 1.796 2.012 2.518 3.138 3.896 4.818 5.936 7.288 8.916 Period 131.138 1.294 1.469 1.665 1.886 2.133 2.720 3.452 4.363 5.492 6.886 8.599 10.699 Period 14 1.149 1.319 1.513 1.732 1.980 2.261 2.937 3.797 4.887 6.261 Period 15 1.161 12.839 7.988 10.147 1.346 1.558 1.801 2.079 2.397 3.172 4.177 5.474 | 7.138 9.266 11.974 15.407 Period 20 1.220 1.486 1.806 2.1912.653 3.207 4.661 6.727 9.646 13.743 19.461 27.393 38.338 Period 25 1.282 1.641 2.094 2.666 3.386 4.292 6.848 10.835 17.000 26.462 40.874 62.669 95.396 Period 301.348 1.811 2.427 3.243 4.322 5.743 10.063 17.449 29.960 50.950 85.850 143.371 237.376 Period 40 1.489 2.208 3.262 4.801 7.040 10.286 21.725 45.259 93.051 188.884 378.721 750.3781,469.772 ral e