Answered step by step
Verified Expert Solution
Question
1 Approved Answer
m. Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the Rate used to the nearest tenth percent.
m. Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "Rate used to the nearest tenth percent. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.) Skipped On PV Table 12.3 Length of time Rate Compounded Amount desired at end of period $ 8,000 Period used Rate used PV factor used PV of amount desired at end of period eBook 6 years 6 % semiannually % Future value interest factor of $1 per period at i% for n periods, FVIF(1,n). Period 0.5% 1.0% 1.5% 2.0% 1 1.0050 1.0100 1.0150 1.0200 1.0100 1.0201 1.03021.0404 1.0151 1.0303 10457 1.0612 1.0202 1.0406 1.0614 1.0824 1.0253 1.0510 1.0773 1.1041 6 1.0304 1.0615 1.0934 1.1262 7 1.0355 1.0721 1.1098 1.1487 8 1.0407 1.0829 1.1265 1.1717 9 1.0459 1.0937 1.1434 1. 1951 10 1.0511 1.1046 1.1605 1.2190 11 1.0564 1.1157 1.1779 1.2434 12 1.06171.1268 1.1956 1.2682 13 1.0670 1.1381 1.2136 | 1.2936 14 1.0723 1.1495 12318 1.3195 15 1.07771.1610 1.2502 1.3459 16 1.0831 1.1726 1.2690 1.3728 17 1.0885 1.1843 1.2880 1.4002 2345) fragmTUBE 2.5% 1.0250 1.0506 1.0769 1.1038 1.1314 1.1597 1.1887 1.2184 1.2489 1.2801 1.3121 1.3449 1.3785 1.4130 1.4483 1.4845 1.5216 3.0% 1.0300 1.0609 1.0927 1.1255 1.1593 1.1941 1.2299 1.2668 1.3048 1.3439 1.3842 1.4258 1.4685 1.5126 1.5580 1.6047 1.6528 3.5% 1.0350 1.0712 1.1087 1.1475 1.1877 1.2293 12723 1.3168 1.3629 1.4106 1.4600 1.5111 1.5640 1.6187 1.6753 1.7340 1.7947 4.0% 1.0400 1.08 16 1.1249 1.1699 12167 12653 1.3159 1.3686 1.4233 1.4802 1.5395 1.6010 1.6651 1.7317 1.8009 1.8730 1.9479 4.5% 1.0450 1.0920 1.1412 1.1925 1.2462 1.3023 1.3609 1.4221 1.4861 1.5530 1.6229 1.6959 1.7722 1.8519 1.9353 2.0224 2.1134 5.0% 1.0500 1.1025 1.1576 1.2155 1.2763 1.3401 1.4071 1.4775 1.5513 1.6289 1.7103 1.7959 1.8856 1.9799 2.0789 2.1829 2.2920 5.5% 1.0550 1.1130 1.1742 1.2388 1.3070 13788 1.4547 1.5347 1.6 191 1.7081 1.8021 1.9012 2.0058 2.1161 22325 2.3553 2.4848 6.0% 1.0600 1.1236 1.1910 1.2625 1.3382 14185 1.5036 1.5938 1.6895 1.7908 1.8983 2.0122 2.1329 2.2609 2.3966 2.5404 2.6928 6.5% 1.0650 1.1342 1.2079 1.2865 1.3701 1.4591 1.5540 1.6550 1.7626 1.8771 1.9992 2. 1291 2.2675 2.4149 2.5718 2.7390 2.9170 7.0% 1.0700 1.1449 12250 1.3108 1.4026 15007 1.6058 1.7182 1.8385 1.9672 2.1049 2.2522 2.4098 2.5785 2.7590 2.9522 3.1588 7.5% 1.0750 1.1556 1.2423 1.3355 1.4356 1.5433 1.6590 1.7835 1.9172 2.0610 2.2156 2.3818 2.5604 2.7524 2.9589 3.1808 3.4194 8.0% 1.0800 1.1664 1.2597 1.3605 1.4693 1.5869 1.7138 1.8509 1.9990 2.1589 2.3316 2.5182 2.7196 2.9372 3.1722 3.4259 3.7000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started