Morgan Bogut just received a signing bonus of $939,000. His plan is to invest this payment in a fund that will earn 10%, compounded annually. Click here to view factor tables (a) Your answer is correct. If Bogut plans to establish the AB Foundation once the fund grows to $2,214,115, how many years until he can establish the foundation? 9 years Attempts: 1 of 9 used (b) Your answer is incorrect. Instead of investing the entire $939,000, Bogut invests $285,400 today and plans to make 9 equal annual investments into the fund beginning one year from today. What amount should the payments be if Bogut plans to establish the $2,214,115 foundation at the end of 9 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.) Payments $ Your answer is partially correct. For each of the following cases, indicate (a) to what rate columns, and (b) to what number of periods you would refer in looking up the interest factor. 1. In a future value of 1 table: Annual Rate Number of Years Invested Compounded (a) Rate of Interest (b) Number of Periods a. 11% 9 Annually 11 % 11 b. 12% 6 Quarterly 3 % 24 C. 12% 19 Semiannually 6 % 38 2. In a present value of an annuity of 1 table: (Round answers to 1 decimal place, e.g. 458,58.1.) Annual Rate Number of Years Invested Number of Rents Involved Frequency of Rents (a) Rate of Interest (b) Number of Periods a. 9% 28 28 Annually 9 % 28 b. 10% 14 28 Semiannually 5 % 28 C. 12% 6 24 Quarterly 3 % 24 Crane Corporation wants to withdraw $126,920 (including principal) from an investment fund at the end of each year for 9 years. What should be the required initial investment at the beginning of the first year if the fund earns 11%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Required initial investment $