Lou Lewis borrows $24,000 to be repaid over 13 years at 8 percent. Repayment of principal in the first year is: Use Appendix D to calculate the answer. (Round your intermediate calculations to the nearest dollar value.) Multiple Choice $3,036 $1,116 $1,200 $1,343 1 - Appendix D Present value of an annuity of $1, PVIFA PVA= A 1 (1 + i)" Percent 1% 4% 7% 10% 11% 12% Period 1 3% 0.971 1.913 5% 0.952 8% 0.926 0.901 2% 0.980 1.942 2.884 3.808 0.935 1.808 2 1.859 1.783 0.962 1.886 2.775 3.630 4.452 0.909 1.736 2.487 3.170 3 4 5 4.713 9% 0.917 1.759 2.531 3.240 3.890 4.486 5.033 5.535 5.995 2.577 3.312 3.993 4.623 5.206 3.791 2.829 3.717 4.580 5.417 6.230 7.020 7.786 6 0.990 1.970 2.941 3.902 4.853 5.795 6.728 7.652 8.566 9.471 10.368 11.255 5.242 4.355 2.723 3.546 4.329 5.076 5.786 6.463 7.108 7.722 8.306 8.863 7 6.002 0.893 1.690 2.402 3.037 3.605 4.111 4.564 4.968 5.328 5.650 5.938 6.194 1.713 2.444 3.102 3.696 4.231 4.712 5.146 5.537 5.889 6.207 6.492 8 9 10 11 6% 0.943 1.833 2.673 3.465 4.212 4.917 5.582 6.210 6.802 7.360 7.887 8.384 8.853 9.295 9.712 10.106 10.477 10.828 11.158 11.470 12.783 13.765 4.868 5.335 5.759 6.145 6.495 6.814 7.103 5.601 6.472 7.325 8.162 8.983 9.787 10.575 11.348 12.106 12.849 13.578 14.292 14.992 15.678 16.351 12 13 5.747 6.247 6.710 7.139 7.536 7.904 8.244 8.559 8.530 9.253 9.954 10.635 11.296 11.938 12.561 13.166 6.424 12.134 13.004 13.865 6.733 7.435 8.111 8.760 9.385 9.986 10.563 11.118 11.652 12.166 12.659 13.134 13.590 2.624 3.387 4.100 4.767 5.389 5.971 6.515 7.024 7.499 7.943 8.358 8.745 9.108 9.447 9.763 10.059 10.336 10.594 11.654 12.409 13.332 13.801 9.394 9.899 14 6.750 6.982 7.367 6.628 15 10.380 7.606 7.191 16 14.718 15.562 16.398 7.824 8.022 6.418 6.805 7.161 7.487 7.786 8.061 8.313 8.544 8.756 8.950 9.129 9.823 10.274 10.757 7.379 7.549 17 18 13.754 8.201 10.838 11.274 11.690 12.085 12.462 14.094 7.702 8.851 9.122 9.372 9.604 9.818 10.675 6.811 6.974 7.120 7.250 7.366 7.469 7.843 8.055 19 17.226 18.046 14.324 14.877 8.365 8.514 20 25 19.523 15.622 22.023 25.808 32.835 30 7.839 7.963 8.422 8.694 8.951 9.042 11.258 17.413 19.600 23.115 25.730 22.396 27.355 31.424 17.292 19.793 9.077 9.427 9.779 9.915 40 15.372 17.159 18.256 15.046 15.762 11.925 12.233 8.244 8.304 50 39.196 21.482 10.962 Appendix D (concluded) Present value of an annuity of $1 Percent Period 13% 14% 15% 16% 17% 18% 19% 20% 25% 30% 35% 40% 50% 1 0.877 0.870 0.847 0.833 0.741 0.714 0.667 0.885 1.668 0.855 1.585 0.840 1.547 0.862 1.605 2.246 2 0.769 1.361 1.647 1.626 1.566 0.800 1.440 1.952 1.528 1.289 1.224 1.111 3 2.361 2.322 2.174 2.106 1.816 1.589 2.283 2.855 2.210 2.743 2.140 2.639 1.696 1.997 1.407 1.605 4 2.914 2.798 2.690 2.589 2.166 1.849 2.974 3.517 5 3.433 3.352 3.274 3.199 3.127 2.991 2.362 2.689 2.951 2.436 2.035 3.058 3.410 1.737 2.220 2.385 6 3.998 3.889 3.784 3.685 3.589 3.498 3.326 2.643 2.168 1.824 7 4.423 4.160 4.039 3.922 3.605 2.802 2.263 1.883 4.288 4.639 3.812 4.078 3.161 3.329 8 4.799 4.487 3.706 3.954 4.163 4.344 3.837 2.925 2.331 1.922 1.948 9 4.772 4.607 4.303 3.463 3.019 2.379 5.132 5.426 5.687 4.946 5.216 4.207 4.451 4.659 4.836 10 4.833 4.494 3.571 4.031 4.192 4.327 3.092 5.019 5.234 2.414 2.508 2.598 2.665 2.715 2.752 2.779 2.799 2.814 4.339 4.486 4.611 1.965 1.977 11 5.453 5.029 3.656 3.147 3.190 12 5.918 5.660 5.421 5.197 3.725 13 5.583 5.842 6.002 6.142 4.988 5.118 5.229 5.324 4.656 4.793 4.910 5.008 5.092 5.342 5.468 5.575 5.668 4.439 4.533 4.611 4.675 14 4.715 4.802 4.876 2.438 2.456 2.469 2.478 2.484 1.985 1.990 1.993 1.995 3.780 3.824 3.859 3.887 3.223 3.249 3.268 5.724 5.847 5.954 6.122 6.302 6.462 6.604 6.729 6.840 15 2.825 2.834 16 5.405 5.162 4.938 3.283 2.489 1.997 6.265 6.373 17 6.047 5.749 5.475 5.222 4.988 4.730 4.775 4.812 3.910 3.295 2.840 2.492 1.998 18 6.467 5.818 5.534 5.273 5.033 3.928 2.844 2.494 1.999 3.304 3.311 19 6.938 6.128 6.198 6.259 6.550 5.877 5.584 5.316 5.070 4.843 3.942 1.999 2.496 2.497 20 7.025 6.623 5.929 5.628 5.101 3.954 3.316 1.999 5.353 5.467 2.848 2.850 2.856 2.857 25 7.330 6.097 5.766 6.873 7.003 6.464 6.566 4.870 4.948 4.979 3.985 3.995 3.329 3.332 2.499 2.500 30 5.195 5.235 5.258 7.496 6.177 5.829 5.517 2.000 2.000 2.000 40 7.105 6.233 5.871 5.548 4.997 3.999 3.333 2.857 2.500 7.634 7.675 6.642 6.661 50 7.133 6.246 5.880 5.554 5.262 4.999 4.000 3.333 2.857 2.500 2.000
