On April 1, 2021, John Vaughn purchased appliances from the Acme Appliance Company for $1,600. In order to increase sales, Acme allows customers to pay in installments and will defer any payments for six months. John will make 18 equal monthly payments, beginning October 1, 2021. The annual interest rate implicit in this agreement is 24%. (FV of $1, PV of $1. FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the monthly payment necessary for John to pay for his purchases. (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.) Monthly payment TABLE 1 Future Value of $1 FV = $1(1+1) M 1 2 3 4 5 1.0% 1.01000 1.02010 1.03030 1.04060 1.05101 .5% 2.0% 2.5% 1.01500 1.02000 1.02500 1.03022 1.04040 1.05063 1.04568 1.06121 1.07689 1.06136 1.08243 1.10381 1.07728 1.10408 1.13141 3.0% 103000 1.06090 1.09273 1.12551 1.15927 3.5% 1.03500 1.07123 1.10872 1.14752 1.18769 4.0% 4.5% 5.0% 5.5% 1.04000 1.04500 1.05000 1.05500 1.08160 1.09203 1.10250 111303 1.12486 1.14117 1.15763 1.17424 1.16986 1.19252 1.21551 1.23882 1.21665 1.24618 1.27628 1.30696 6.0% 7.0% 1.06000 1.07000 112360 1.14490 1.191021.22504 1.26248 1.31080 1.33823 1.40255 0.0% 1.08000 1.16640 1.25971 1.36049 1.46933 9.0% 10.0% 1.09000 1.10000 1.18810 1.21000 1.29503133100 1.41158 1.46410 1.53862 1.61051 11.0% 111000 123210 136763 1.51807 1.68506 12.0% 1.12000 1.25440 1.40493 1.57352 1.76234 20.0% 120000 1.44000 1.72800 2.07360 2.48832 2.98598 3 58318 6 1.06152 1.09344 1.12616 1.15909 1.19405 7 107214 110984 114869 1.18869 122987 8 1.08286 1.12649 1.17166 1.21840 1.26677 9 1.09369 1.14339 1.19509 1.24886 1.30477 10 1.10462 1.16054 1.21899 1.28008 1.34392 1.22926 1.26532 1.30226 1.34010 1.37884 1.41852 1.27228 131593 1.36086 1.40710 1.45468 1.50363 1.31681 1.36857 1.42210 1.47746 1.53469 1.59385 1.36290 1.42331 1.48610 1.551331619091.68948 1.41060 1.48024 1.55297 1.62889 1.70814 1.79085 1.50073 1.58687 60578171382 1.71819 1.85093 1.83846 1.99900 1.96715 2.15892 1.67710 182804 199256 2.17189 2.36736 1.77156 1.87041 1.97382 1948722.07616 221068 2.14359230454 2.47596 235795255804 2.77308 2.59374 2.839423.10585 4.29982 5.15978 6.19174 11 1.11567 12 1.12683 13 113809 14 1.14942 15 1.16097 1.17795 1.19562 1.21355 1.23176 1.25023 1.24337 1.31209 1.26824 1.34489 1.29361 1.37851 1.31948 1.41297 1.34587 1.44830 1.38423 1.42576 1.46853 1.51259 1.55797 1.45997 1.53945 1.51107 1.60103 1.56396 1.66507 1.61869 1.73168 1.67535 1.80094 1.62285 1.71034 1.802091.89830 1.69588 1.79586 1.90121 2.01220 1.77220 1.88565 2.00577 2.13293 1.85194 1.979932 .11609 2.26090 1.93528 2.07893 2.23248 2.39656 2.10485 2.33164 2.25219 2.51817 2.40985 2.71962 2.578532.93719 2.75903 3.17217 2.58043 2.81266 3.06580 3.34173 3.64248 2.85312 3.13843 3.45227 3.79750 4.17725 3.15176 3.47855 3.49845 3.89598 3.88328 4.36349 4.31044 4.88711 4.784595.47357 7.43008 8.91610 10.69932 12.83918 15.40702 5310896.13039 16 17 18 19 20 1.17258 1.18430 1.19615 1.20811 1.22019 1.26899 1.28802 1.30734 1.32695 1.34686 1.37279 1.40024 1.42825 1.45681 1.48595 1.48451 1.52162 1.55966 1.59865 1.63862 1.60471 1.65285 1.70243 1.75351 1.80611 1.73399 1.79468 1.85749 1.92250 1.98979 1.87298 1.94790 2.02582 2.10685 2.19112 2.02237 2.11338 2.20848 2.30786 2.41171 2.18287 2.35526 2.29202 2.48480 2.40662 2.62147 2.52695 2.76565 2.65330 2.91776 2.54035 2.69277 2.85434 3.02500 3.20714 2.95216 3.42594 3.15882 3.70002 3.379933.99602 3.61653 4.31570 3.86908 4.66096 3.97031 4.32763 4.71712 5.14166 5.60441 4.59497 5.05447 5.55992 6.11591 6.72750 6.54355 726334 8.06231 7.68997 8.61276 9.64629 18.48843 22.18611 26.62333 31.94800 38.33760 21 25 30 40 1.23239 1.28243 1.34785 1.48886 1.36706 1.51567 1.67958 1.45095 1.64061 1.85394 1.56308 1.81136 2.09757 1.81402 2.20804 2.68506 1.86029 2.09378 2.42726 3.26204 2.05943 2.27877 2.52024 2.78596 3.07823 3.39956 4.14056 2.36324 2.66584 3.00543 3.386353.813394.291875.42743 2.806793.24340 3.74532 4.32194 4.98395 5.743497.61226 3.95926 4.80102 5.81636 7.03999 3.51331 10.28572 14.97446 3.03383 6.10881 7.40025 8.94917 10.80385 46.00512 6.84848 8.62308 10.83471 13.58546 17.0000695.39622 10.06266 13.26768 17.44940 22.89230 29.95992 237.37631 21.72452 31.40942 45.25926 65.00087 93.05097 1469.77160 TABLE 2 Present Value of $1 (1 + i)" wi 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 70% 8.0% 0.0% 10.0% 11.0% 12.0% 20.0% 1 099010 098522 098099 097561 097087 096615 096154 0 95694 095238 094787 094340 093458 092593 091743 090909 090090 089286 083333 2 098030 097066 096117 095181 094260 093351092456 091573 090703 089845 089000087344 085734 084168 052645 081162 079719 069444 3 097059 0.95632 0.94232 0.92860 091514 0.90194 0.88900 0.87630 0.86384 0.85161 0.83962 0.81630 0.79383 0.77218 0.75131 0.73119 0.71178 0.57870 4 0.96098 0.94218 0.92385 0.90595 0.88849 0.87144 0.85480 0.83856 0.82270 0.80722 0.79209 0.76290 0.73503 0.70843 0.68301 0.65873 0.63552 0.48225 5 0.95147 0.92826 0.90573 0.88385 0.86261 0.84197 0.82193 0.80245 0.78353 0.76513 0.74726 0.71299 0.63058 0.64993 0.62092 0.59345 0.56743 0.40188 6 0.94205 0.91454 0.88797 0.86230 0.83748 0.81350 0.79031 0.76790 0.74622 0.72525 0.70496 0.66634 0.63017 0.59627 0.36447 0.53464 0.30663 0.33490 7 0.93272 0.90105 0.87056 0.81127 0.91309 0.78599 0.75992 0.73485 0.71068 0.68744 0.66506 0.62275 0.58349 0.54703 0.51316 049166 0.45235 0.27908 8 0.92348 0.88771 0.85349 0.82075 0.78941 0.75941 0.75069 0.70319 0.67684 0.65160 062741 0.58201 0.54027 0.50187 0.46651 0.43393 0.40388 0.23257 9 091434 087459 083676 080073 076042 073373 0.70259 067290 064461 0.01763 0 59190 0.54999 050025 0.46043 042410 0.39092 036061 0.19981 10 090529 086167 082095 078120 074409 070992067556 064393 061391058543 0558390 50835 046319047741038554035218 032197 016151 Il 0.896.32 0.84893 0.80426 0.76214 0.72242 0.68495 0.64958 0.61620 0.58468 0.55491 0.52679 0.47509 0.42998 0.38753 035049 0.31728 0.28748 0.13459 12 0.88745 083639 0.78849 0.74356 0.70138 066178062400058966 0.55084 0.53598 0.490970444010397110.35553 031863 0.28584 0.25668 011216 13 087866 082403 0.77303 072542 0.68095 069940 060057 056427 053032 049856 046884 041496 036770 0.32618 078966 025751 021917 009346 14 0.86996 081185 0.75788 070773 0.66112 0.61778 0.57748 0.59997 0 S0507 0.47257 0.44230 038782 034046 0.29925 026333 0.23199 0.20462 0.07789 15 0.86135 0.79985 0.74301 0.69047 0.64186 0.59689 0.55526 0.51672 0.48102 0.44793 0.41727 0.36245 031524 0.27454 023939 0.20900 0.18270 0.06491 16 0.85282 17 0.84438 18 0.83602 19 0.92734 20 0.81954 0.78803 0.72845 0.67362 0.62317 0.57671 0.77639 0.71416 0.65720 0.60502 0.55720 0.76191 0.70016 0.64117 0.58739 0.53836 0.75361 0.68643 0.62553 0.57029 0.52016 0.74247 0.67297 0.61027 0.55368 0.50257 0.53391 0.49447 0.45811 0.42458 0.51337 0.47318 0.43630 0.40245 0.49363 0.45280 0.41552 0.38147 0.47464 0.43330 0.39573 0.36158 0.45639 0.41464 0.37089 0.34273 0.39365 0.33873 0.29189 0.25187 0.37136 0.31657 0.27027 0.23107 0_35034 0.29586 0.25025 0.21199 0.33051 0.27651 0.23171 0.19449 0.31180 0.25842 021455 0.17843 0.21763 0.18829 0.16312 0.05409 0.19784 0.16963 0.14561 0.01507 0.17986 0.15282 0.13004 0.03756 0.16351 0.13768 0.11611 0.03130 0.14564 0.12403 0.10367 0.02008 21 0.81143 0.73150 0.65978 0.50539 0.53755 0.48557 0.43883 0.39679 0.35894 0.32486 0.20416 0.24151 0.19866 0.16370 0.13513 0.11174 0.00256 0.02174 24 0.78757 0.69954 0.62172 0.55288 0.49193 0.43796 0.39012 0.34770 0.31007 0.27656 024698 0.19715 0.15770 0.12640 0.10153 0.09170 0.06588 0.01258 25 0.77977 068921 0.60953 0.53939 0.47761 0.42315 0.37512 0.33273 0.29530 0.26223 0.23500 0.18425 0.14602 0.11591 0.09230 0.07361 DOSS82 0.01048 28 075684 065910 0.57437 0 S0088 043708 098165 033348 0 39157 025509 0.22332 0 19563 015040 011591 008955 008934 005382 004187 0.00607 29 0.74934 064936 0.56311 0.48866 0.42435 036875 032065 0.27902 024295 021168 0.18456 0.14056 0.10733 0.08215 0.06304 0.04849 003738 0.00506 30 0.74192 0.63976 0.55207 0.47674 0.41199 0.35628 0.30832 0.26700 31 0.73458 0.63031 0.54125 0.46511 0.39999 0.34423 0.29646 0.25550 10 0.67165 0.55126 0.45289 0.37243 0.30656 0.25257 0.20829 0.17193 0.23138 0.22036 0.14205 0.20064 0.17411 0.13137 0.09938 0.19018 0.16125 0.12277 0.09202 0.11746 0.09722 0.06678 0.01603 0.07537 0.05731 0.04368 0.03338 0.00421 0.06915 0.05210 0.03935 0.02980 0.00351 0.03184 0.02209 0.01538 0.01075 0.00068 TABLE 3 Future Value of an Ordinary Annuity of $1 (1 + i)" - 1 FVA= wi 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 55% 6.0% 7.0% 8.0% 0.0% 10.0% 11.0% 12.0% 20.0% 1 2 3 4 1.0000 2.0100 3.0301 4.0604 5.1010 1.000 2.0150 3.0452 4.0909 5.1523 1.0000 2.0200 3.0604 4.1216 5.2040 1.0000 2.0250 3.0756 4.1525 5.2563 1.0000 2.0300 3.0909 4.1836 5.3091 1.0000 1.0000 1.0000 1.000 1.000 1.000 2.0350 20400 2.0450 20500 2 0550 20600 3.1062 3.1216 3.1370 3.15253.1680 3.1836 4.21494.2465 4.2782 4.3101 4.34234.3746 5.3625 5.41635.47075.5256 55811 5.6371 1.0000 1.0000 2.0700 2.0800 3.21493.2464 4.4399 4.5061 5.7507 1.0000 2.0900 3.2781 4.5731 5.9847 1.000 2.1000 3.3100 4.6410 6.1051 1.000 2.1100 3.3421 4.7097 6.2278 1.0000 2.1200 3.3744 4.7793 6.3528 1.0000 22000 3.6400 5.3680 7.4416 5 6 7 8 6.1520 7.2135 8.2857 .3685 10.4622 6.2296 7.3230 8.4328 9.5593 10.7027 6.3081 7.4343 8.5830 9.7546 10.9497 6.3877 7.5474 8.7361 9.9545 11.2034 6.4684 6.5502 6.6330 6.7169 7.6625 7.77947.8983 8.0192 8.89239.05179.21429.3800 10.1591 10.3685 10.5828 10.8021 11.4639 117314 12.0061 12.2882 6.8019 8.1420 9.5491 11.0266 12.5779 6.88816 .9753 8.2669 8 .3938 9.7216 9.8975 11.2563 11.4913 12.8754 13.1808 7.1533 8.6540 10.2598 11.9780 13.8164 7.33597.52337.7156 8.9228 9.2004 9.4872 10.6366 11.0285 11.4359 12.4876 13.0210 13.5795 14.4866 15.1929 15.9374 7.9129 9.7833 11.8594 14.1640 16.7220 8.1152 10.0890 12.2997 14.7757 17.5487 9.9299 12.9159 16.4991 20.7989 25.9587 9 9 10 11 11.5668 11.8633 12.1687 12.4835 12.8078 12 12.6825 13.0412 13.4121 13.7956 14.1920 13 13.8093 14.2368 14.6803 15.1404 15.6178 14 14.9474 15.4504 15.9739 16.5190 17.0863 15 16.0969 16.6821 17.2934 17.9319 18.5989 13.1420 14.6020 16.1130 17.6770 19.2957 13.4864 13.8412 14.2068 15.0258 15.4640 159171 16.6268 17.1599 17.7130 18.291918.932119.5986 20.0236 20.7841 21.5786 14.5835 16.3856 18.2868 20.2926 22.4087 14.9716 15.7836 16.8699 17.8885 18.882120.1406 21.0151 22.5505 23.2760 25.1290 16.6455 18.9771 21.4953 24.2149 27.1521 17.5603 18.5312 20.140721.3843 22.9534 24.5227 26.0192 27.9750 29.360931.7725 19.5614 22.7132 26.2116 30.0949 34.4054 20.6546 24.1331 28.0291 32.3926 37.2797 32.1504 39 5805 48.4966 59.1959 7 2.0351 16 17.2579 17.9324 18.6.393 19.3802 20.1569 20.9710 21.8245 22.7193 23.6575 17 18.4304 19.2014 20.0121 20.8647 21.7616 22.7050 23.6975 24.7417 25.8404 18 19.6147 20.4894 21.4123 22.3863 23.4144 24.4997 2.6454 26.855128.1324 19 20.8109 21.7967 22.8406 23.9460 25.1169 26.3572 27.6712 29.0636 30.5390 20 22.0190 23.1237 24.2974 25.5447 26.8704 28.2797 29.778131.3714 33.0660 24.6411 26.9964 29.4812 32.1027 34.8683 25.6725 27.8881 28.212930.8402 30.9057 33.9990 33.7600 37.3790 36.7856 40.9955 30.3243 33.0034 33.7502 36.9737 37.450241.3013 41.4463 46.0185 45.7620 51.1601 35.9497 39.189942.7533 87.4421 40.544744.5008 48.8837 105.9306 45.599250.395955.7497128.1167 51.1591 56.9395 63.4397 154.7400 57.2750 64.2028 72.0524 186.6880 21 23.2392 24.4705 25.7833 27.1833 28.6765 30.2695 31.9692 33.7831 30 34.7849 37.5387 40.5681 43.9027 47.5754 51.6227 56.084961.0071 40 48.886454.2679 604020 67.4026 75.4013 84.5503 950255 107.0303 35.7193 66.4388 120 7998 37.7861 72.4355 136.6056 39.9927 79.0582 154.7620 44.8652 50.422956.7645 94.4608 113.2832 136.3075 199 6351 259.0565 337.8824 64.0025 72.2651 81.6987225.0256 164.4940 199.0209241.3327 1181.8816 442.5926 581.8261 767.0914 7343 8578 TABLE 4 Present Value of an Ordinary Annuity of $1 PVA W 1 2 3 4 5 2.0% 1.5% 0.99010 0.98522 1.97040 1.95588 2.94099 291220 3.90197 3.85438 4.853434.78264 2.0% 0.98039 1.94156 2.88388 3.80773 4.71346 2.5% 0.97561 1.92742 2.85602 3.76197 4.64583 3.0% 0.97087 1.91347 2.82861 3.71710 4.57971 3.5% 4.0% 096618 0.96154 1.899691.88609 2.80164 2.77509 3.67308 3.62990 4.51505 4.45182 4.5% 0.95694 1.87267 2.74896 3.58753 4.38998 5.0% 0.95238 1.85941 2.72325 3.54595 4.32948 5,5% 094787 1.84632 2.69793 3.50515 4.27028 6.0% 7.0% 0.94340 0.93458 1.833391.80802 2.67301 2.62432 3.46511 3.38721 4.21236 4.10020 8.0% 0.0% 0.0% 11.0% 12.0% 20.0% 0.92593 0.91743 0.90909090090 0.89286 0.83333 1.78326 1.75911 1.73554 1.71252 1.69005 1.52778 2.57710 2.53129 2.48685 2.44371 2.40183 2.10648 3.312133.23972 3.16987 3.10245 3.03735 2.58873 3.992713.88965 3.79079 3.69590 3.60478 2.99061 6 7 8 9 10 5.79548 5.69719 5.60143 5.50813 5.41719 6.728196.59821 6.47199 6.349396.23028 7.65168 7.485937.32548 7.170147.01969 8.56602 8.36052 8.16224 7.970877.78611 9.47130 9.22218 8.982598.75206 8.53020 5.32855 5.24214 5.15787 5.07569 4.99553 4.91732 4.76654 4.62288 6.11454 6.00205 5.89270 5.78637 5.68297 5.582385.389295.20637 6.87396 6.73274 6.59589 6.46321 6.33457 6.209795.97130 5.74664 7.607697.435337.268797.10782 695220 6.801696.51523 6.24689 8.31661 8.11090 7.91272 7.721737.537637.30009 7.02358 6.71008 4.48592 5.03295 5.53482 5.99525 0.41766 4.35526 4.86842 5.33493 5.75902 6.14457 4.23054 4.71220 5.14612 5.53705 5.88923 4.11141 3.32551 4.56376 3.60459 4.96764 3.83716 5.32825 4.03097 5.65022 4.19247 11 12 13 14 15 10.36763 11 25508 12.13374 13.00370 13.86505 10.07112 9.78685 10.90751 10.57534 1173153 11.34837 12.54338 12.10625 13.343231284926 9.51421 9.252629.00155 10.25776 9.95400 9.66333 10.98319 10.63496 10.30274 11.69091 11 29607 10.92052 12 3813 11.93794 11.51741 8.76048 9.38507 9.98565 10.56312 1111839 8.52892 9.11858 9.68285 10.22283 10.73955 8.30641 8.86325 9.39357 9.89864 10.37966 8.09254 8.61852 9.11708 9.58965 10.03758 7.886877.49867 7.13896 3.383847.942697.53608 8.85268 3.357657.90378 9.294988.74547 3.24424 9.712259.10791 3.55948 6.80519 6.49506 6.20652 5.93770 4.32706 7.16073 6.81369 6.49236 6.19437 4.43922 7.486907.10336 6.74987 6.42355 4.53268 7.786157.36669 6.98187 6.62817 4.61057 8.06069 7.60608 7.19087 6.81086 4.67547 16 17 18 19 20 14.71787 1556225 16.39827 17.22601 18.04555 14.13126 14 90765 15.67256 16.42617 17.16864 13.57771 14 29187 14.99203 15.67846 16.35143 13.05500 13.71220 14.35336 14.97889 15.58916 12.56110 13.16612 13.75351 14.32380 14.87747 12.09412 11.65230 12 65132 12 16567 13.18968 12.65930 13.70984 13.13394 14.21240 13.59033 11.23402 10.83777 11 707191127407 12.15999 11.68959 12.59329 12.08532 13.00794 12.46221 10.46216 10.10590 1086461 10.47726 11.24607 10.82760 11.60765 11.15812 11.95038 11.46992 9.44665 9.85137 8.31256 7.82371 7.37916 6.97399 4.72956 9.76322 9.12164 8.54363 802155 754879 7.11963 477463 10.059099.371898.75563 3.20141 7.701627.24967 4.81219 10.33560 9.60360 8.95011 8.361927.839297.36578 4.84350 10.59401 9.81815 9.12855 8.51356 7.96333 7.46944 4.86958 21 18.85698 17.90014 25 22 02316 20.71961 302580771 24.01584 40 32.83469 29.91585 17.01121 16.18455 1952346 18 42438 22 39646 20.93029 27.35548 25.10278 15.41502 14.69797 14.02916 17.41315 16.48151 15 62208 19.60044 1839205 17.29203 23.11477 21.35507 19.79277 13.40472 12.82115 1482821 14.09394 16.28889 15.37245 18.40158 17.15909 12.27524 13.41393 14.53375 16.04612 11.76408 10.8.3553 12.78336 11.65358 13.76483 12.40904 15.04630 13.33171 10.01680 10 67478 11.25778 11.92461 9.29224 8.64860 3.07507 7.56200 4.89132 982258 9.07704 8.42174784314 494759 10.273659.42691 8.69379 8.05518 4.97894 10.75736 9.77905 8.95105 8.24378 499660 TABLE 5 Future Value of an Annuity Due of $1 I (1 + i)" FVAD = 1 (1+) wi 1 2 3 4 1.0% 1.0100 2.0301 3.0604 4.1010 5.1520 1.5% 10150 2.0452 3.0909 4.1523 5.2296 2.0% 1.0200 2.0604 3.1216 4.2040 5.3081 2.5% 1.0250 2.0756 3.1525 4.2563 5.3877 3.0% 3.5% 4.0% 4.5% 5.0% 1.0300 1.0350 1.0400 1.0450 1.0500 2.0909 21062 2.1216 2.1370 2.1525 3.1836 3.21493.2465 3.2782 3.3101 4.30914.3625 44163 4.4707 4.5256 5.4684 5.5502 5.63305.71695.8019 5.5% 6.0% 7.0% 1.0550 1.0600 1.0700 2.1680 2.18362.2149 3.3423 3.3746 3.4399 4.5811 4.6371 4.7507 5.88815.97536.1533 8.0% 0.0% 1. 000 1.0900 2.24642.2781 3.5061 3.5731 4.8666 4.9847 6.33596,5233 0.0% 1.1000 2.3100 3.6410 5.1051 6.7156 11.0% 12.0% 20.0% 1.1100 1.1200 1.2000 2.3421 2.3744 2.6400 3.7097 3.7793 4 3680 .2278 5.3528 6.4416 6.91297.11528.9299 5 6 7 8 9 10 6.2135 7.2857 8.3685 9.4622 10.5668 6.3230 7.4328 85593 9.7027 108633 6.4343 7.5830 8.7546 99497 11.1687 6.5474 6.6625 6.7794 6.89837.01927.1420 7.26697.39387.6540 7.73617.8923 80517 8.2142 8 3800 8.5491 8.7216 8.8975 9.2598 8.9545915919 3685 9.5828 98021100266 10.2563 10.4913 10.9780 10.2034 10 4639 10 7314 11.0061 11 2882 115779118754 12.1808 12.8164 11.4835 11.8078 12 1420 12.4864 12.8412 13 2068 13.5835 13.9716 14.7836 7.9228 9,6366 11.4876 13.4866 15.6455 8.2004 10.0285 12.0210 14.1929 165603 .4872 9.78339.0890 10:4359 10.8594 11.2997 12.579513.1640 13.7757 149374 15.7220 16.5487 17.5312 18.5614 19.6546 11.9159 15.4991 19 7989 249587 31.1504 11 12 13 14 15 11.6825 12.0412 12.8093 13.2368 13.9474 14.4504 15.0969156821 16.2579 169324 12.4121 12.7956 13.6803 14.1404 14.9739 15.5190 16 2934 169319 17.6393 183802 13.1920 13.6020 14.0258 14.6178 15.1130 15.6268 16.0863 16.6770 17.2919 175989 18.2957 19.0236 19 1569 19 9710 20.8245 14.4640 16.1599 17.9321 19.7841 217193 14.9171 16.7130 18.5986 20 5786 22 6575 15.3856 17.2868 19.2926 21.4087 23.6411 15.860916.8885 17.8821 19.1406 20.0151 21.5505 22.2760 24 1290 24.6725 26 8881 17.9771 19.140720.3843 20.495321.9534 23.5227 23.2149 25.0192 26.9750 261521 28.3609 30.7725 293243 32.0034 34 9497 21.713223.1331 25.2116 27.0291 29.0949 31.3926 334054 36 2797 38.1899 41.7533 38.5805 47.4966 58.1959 71 0351 864421 16 17.4304 18.2014 19.012119.8647 20.7616 17 18.6147 19.4894 20.4123 21.3863 22.4144 18 19.8109 20.7967 21.8406 22.9460 24.1109 19 21.0190 22.1237 23.2974 24.5447 25.8704 20 22.2392 23.4705 24.7833 26.1833 27.6765 21.7050 22.697523.7417 23.4997 24.6454 25.8551 25.3572 26.6712 28.0636 27.2797 28.7781 30.3714 29.2695 30.969232.7831 24.8404 27.1324 29.5390 32.0660 34.7193 25.9964 27.2129 28.481229.9057 31.1027 32.7600 33.8683 35.7856 36.7861 38.9927 29.840232.7502 35.9737 39.5447 43.5008 32.9990 36.4502 40.301344.5992 49.3959 36.3790 40.4463 45.0185 50.1591 55.9395 39.9955 44.762050.1001 56.2750 63.2028 43.8652 49.422955.7645 63.002571.2651 47.8837 54.7497 62.4397 71.0524 80.6987 104.9306 127.1167 153.7400 185.6880 224.0256 21 25 30 40 23.4716 28.5256 35.1327 49.3752 24.8376 26.2990 27.8629 29.5368 31.3289 33.2480 30.5140 32.670935.0117 37.5530 40.3131 43.3117 38.1018 41.3794 45.0003 49.0027 53.4295 58.3283 55.0819 61.6100 69.0876 77.6633 87.509598.8265 35.3034 46.5706 63.7524 111.8467 37.5052 50.1135 69.7608 126.8398 39.8643 53.9660 76.4194 144.1189 42.3923 48.0057 58.1564 67.6765 83.8017 101.0730 161.0477 213.6096 54.4568 78.9544 122.3459 279.7810 61.8733 92.3240 148.5752 368.2919 70.4027 80.2143 91.5026 270.0307 108.1818 126.9988 149.3339 566.3773 180.9434 220.9132 270.2926 1418.2579 486.8518 645.8269859.1424 8812.6294 TABLE 6 Present Value of an Annuity Due of $1 PVAD x (1+i) wi 1 2 3 4 5 1.0% 1.00000 1.99010 2.97040 3.94099 4.90197 1.5% 1.00000 1.98522 2.95588 3.91220 4.85438 2.0% 2.5% 3.0% 100000 100000 100000 1.98039 1.97561 1.97087 2.94156 2.92742 2.91347 3.88388 3.85602 3.82861 4.807734.761974.71710 3.5% 100000 1.96618 2.89969 3.80164 4.67308 4.0% 4.5% 100000 100000 1.96154 1.95694 2.886092.87267 3.775093.74896 4.62990 4.58753 5.0% 1.00000 1.95238 2.85941 3.72325 4.54595 5.5% 100000 1.94787 2.84632 3.69793 4.50515 6.0% 100000 1.94340 2.83339 3.67301 4.46511 7.0% 100000 1.93458 2.80802 3.62432 4.38721 8.0% 0.0% 100000 1.00000 1.92593 1.91743 2.78326 2.75911 3.57710 3.53129 4312134.23972 10.0% 11.0% 12.0% 100000 100000 1.00000 1.90909 1.90090 1.89286 2.73554 2.71252 2.69005 3.48685 3.44371 3.40183 4.16987 4.10245 4.03735 20.0% 1.00000 1.83333 2.52778 3.10648 3.58873 6 7 3 9 10 5.85343 5.78264 5.71.346 5.64583 5.57971 5.51505 5.451825-38998 5.32948 6.79548 6.69719 660143 6.508136.417196.32855 6.24214 6.157876.07569 7.72819 7.59821 7471997.349397.23028 7.11454 7.00205 6.89270 6.78637 8.65168 8.48593 8.32548 8.17014 8.01969 7.87396 7.73274 7.595897.46321 9.566029.360529.16224 8.97087 3.78611 8.607698.43533 8.26879 8.10782 5.27028 5.99553 6.68297 7.33457 7.95220 5.21236 5.100204.992714.89965 5.91732 5.766545.62288 5.48592 6.58238 6.389296.20637 6.03295 7.209796.97130 6.74661 6.53482 7.801697.51523 7.246896.99525 4.79079 4.69590 4.60478 3.99061 5.35526 5.23054 5.11141 4.32551 5.86842 5.712205 .56376 4.60459 6.33493 6.14612 5.96764 4.83716 6.75902 6.53705 6.32825 5.03097 11 12 13 14 15 10.47130 11.36763 12.25508 13.13374 14.00370 10.22218 11.07112 11.90751 12.73153 13.54338 9.98259 10.78685 11.57534 12 34837 13.10625 9.75206 9.53020 10.51421 10.25262 11.25776 10.95400 11.98318 11.63496 12.69091 12.29607 9.31661 10.00155 10.66333 11.30274 11.92052 9.110908.91272 9.76048 9.52892 10.38507 10.11858 10.98565 1068285 11.56312 11 22283 8.72173 9.30641 9.86325 10.39357 10.89861 8.53763 9.09254 9.61852 10.11708 10.58965 8.360098.02358 7.71008 8.886878.49867 8.13896 9.38384 8.942698.53608 9.85268 9.35765 8.90378 10.29498 9.74547 9.24424 7.41766 7.80519 8.16073 8.48690 8.78615 7.14457 6.88923 6.650225.19247 7.49506 7.20652 6.93770 5.32706 7.81369 7.49236 7.19437 5.43922 8.10336 7.74987 7.42355 553268 8.36669798187 7.62817 5.61057 16 17 18 19 20 14.86505 15.71787 16.56225 17.39827 18.22001 14.34323 13.84926 15.13126 14.57771 15.90765 15.29187 16.67256 1599203 17.42617 16.67846 13.38138 14.05500 14.71220 15.35336 15.97889 12.93794 13.56110 14.16612 14.75351 15.32380 12.51741 13.09412 13.65132 14.18968 14.70984 12.11839 12.65230 13.16567 13.65930 14.13394 11.73955 11.37966 12 2340211.83777 12.70719 12.27407 13.15999 12.68959 13.59329 13.08532 11.03758 11.46216 11.86461 12.24607 12.60765 10.71225 11.10590 11.47726 11.82760 12.15812 10.10791 10.44665 10.76322 11.05909 11.33560 9.55948 9.85137 10.12164 10.37189 10.60360 9.060698.60608 8.190877.81086 9.31256 8.82371 8.37916 7.97399 9.54363 9.02155 8.54879 8.11963 9.75563 920141 8.70162 8.24967 9.95011 9.36492 8.83929 8.36578 5.67547 5.72956 5.77463 5.81219 5.84350 21 19.04555 18.16864 17.35143 16.58916 15.87747 25 22.24339 21.03041 1991393 18.88499 17.93554 30 26.06579 24.37608 22.84438 21.45355 20.18845 40 33.16303 3036458 2790259 25 73034 23 80822 15.21240 17.05837 19.03577 22.10250 14.59033 14.00794 13.46221 12.95038 12.46992 11.59401 10.81815 16.24696 15.49548 14.79864 14.15170 13.55036 12.46933 11.52876 17.98371 17.02189 16.14107 1533310 14.59072 13.27767 12.15841 20.58448 19 22966 18 01704 1692866 1594907 14.26493 12 87858 10.12855 9.51356 8.96333 8.46944 5.86958 10.70661 998474 9.34814 8.78432 5.93710 11.19828 1036961 965011 9.02181 597472 11.72552 1075696 993567 923303599592 On April 1, 2021, John Vaughn purchased appliances from the Acme Appliance Company for $1,600. In order to increase sales, Acme allows customers to pay in installments and will defer any payments for six months. John will make 18 equal monthly payments, beginning October 1, 2021. The annual interest rate implicit in this agreement is 24%. (FV of $1, PV of $1. FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the monthly payment necessary for John to pay for his purchases. (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.) Monthly payment TABLE 1 Future Value of $1 FV = $1(1+1) M 1 2 3 4 5 1.0% 1.01000 1.02010 1.03030 1.04060 1.05101 .5% 2.0% 2.5% 1.01500 1.02000 1.02500 1.03022 1.04040 1.05063 1.04568 1.06121 1.07689 1.06136 1.08243 1.10381 1.07728 1.10408 1.13141 3.0% 103000 1.06090 1.09273 1.12551 1.15927 3.5% 1.03500 1.07123 1.10872 1.14752 1.18769 4.0% 4.5% 5.0% 5.5% 1.04000 1.04500 1.05000 1.05500 1.08160 1.09203 1.10250 111303 1.12486 1.14117 1.15763 1.17424 1.16986 1.19252 1.21551 1.23882 1.21665 1.24618 1.27628 1.30696 6.0% 7.0% 1.06000 1.07000 112360 1.14490 1.191021.22504 1.26248 1.31080 1.33823 1.40255 0.0% 1.08000 1.16640 1.25971 1.36049 1.46933 9.0% 10.0% 1.09000 1.10000 1.18810 1.21000 1.29503133100 1.41158 1.46410 1.53862 1.61051 11.0% 111000 123210 136763 1.51807 1.68506 12.0% 1.12000 1.25440 1.40493 1.57352 1.76234 20.0% 120000 1.44000 1.72800 2.07360 2.48832 2.98598 3 58318 6 1.06152 1.09344 1.12616 1.15909 1.19405 7 107214 110984 114869 1.18869 122987 8 1.08286 1.12649 1.17166 1.21840 1.26677 9 1.09369 1.14339 1.19509 1.24886 1.30477 10 1.10462 1.16054 1.21899 1.28008 1.34392 1.22926 1.26532 1.30226 1.34010 1.37884 1.41852 1.27228 131593 1.36086 1.40710 1.45468 1.50363 1.31681 1.36857 1.42210 1.47746 1.53469 1.59385 1.36290 1.42331 1.48610 1.551331619091.68948 1.41060 1.48024 1.55297 1.62889 1.70814 1.79085 1.50073 1.58687 60578171382 1.71819 1.85093 1.83846 1.99900 1.96715 2.15892 1.67710 182804 199256 2.17189 2.36736 1.77156 1.87041 1.97382 1948722.07616 221068 2.14359230454 2.47596 235795255804 2.77308 2.59374 2.839423.10585 4.29982 5.15978 6.19174 11 1.11567 12 1.12683 13 113809 14 1.14942 15 1.16097 1.17795 1.19562 1.21355 1.23176 1.25023 1.24337 1.31209 1.26824 1.34489 1.29361 1.37851 1.31948 1.41297 1.34587 1.44830 1.38423 1.42576 1.46853 1.51259 1.55797 1.45997 1.53945 1.51107 1.60103 1.56396 1.66507 1.61869 1.73168 1.67535 1.80094 1.62285 1.71034 1.802091.89830 1.69588 1.79586 1.90121 2.01220 1.77220 1.88565 2.00577 2.13293 1.85194 1.979932 .11609 2.26090 1.93528 2.07893 2.23248 2.39656 2.10485 2.33164 2.25219 2.51817 2.40985 2.71962 2.578532.93719 2.75903 3.17217 2.58043 2.81266 3.06580 3.34173 3.64248 2.85312 3.13843 3.45227 3.79750 4.17725 3.15176 3.47855 3.49845 3.89598 3.88328 4.36349 4.31044 4.88711 4.784595.47357 7.43008 8.91610 10.69932 12.83918 15.40702 5310896.13039 16 17 18 19 20 1.17258 1.18430 1.19615 1.20811 1.22019 1.26899 1.28802 1.30734 1.32695 1.34686 1.37279 1.40024 1.42825 1.45681 1.48595 1.48451 1.52162 1.55966 1.59865 1.63862 1.60471 1.65285 1.70243 1.75351 1.80611 1.73399 1.79468 1.85749 1.92250 1.98979 1.87298 1.94790 2.02582 2.10685 2.19112 2.02237 2.11338 2.20848 2.30786 2.41171 2.18287 2.35526 2.29202 2.48480 2.40662 2.62147 2.52695 2.76565 2.65330 2.91776 2.54035 2.69277 2.85434 3.02500 3.20714 2.95216 3.42594 3.15882 3.70002 3.379933.99602 3.61653 4.31570 3.86908 4.66096 3.97031 4.32763 4.71712 5.14166 5.60441 4.59497 5.05447 5.55992 6.11591 6.72750 6.54355 726334 8.06231 7.68997 8.61276 9.64629 18.48843 22.18611 26.62333 31.94800 38.33760 21 25 30 40 1.23239 1.28243 1.34785 1.48886 1.36706 1.51567 1.67958 1.45095 1.64061 1.85394 1.56308 1.81136 2.09757 1.81402 2.20804 2.68506 1.86029 2.09378 2.42726 3.26204 2.05943 2.27877 2.52024 2.78596 3.07823 3.39956 4.14056 2.36324 2.66584 3.00543 3.386353.813394.291875.42743 2.806793.24340 3.74532 4.32194 4.98395 5.743497.61226 3.95926 4.80102 5.81636 7.03999 3.51331 10.28572 14.97446 3.03383 6.10881 7.40025 8.94917 10.80385 46.00512 6.84848 8.62308 10.83471 13.58546 17.0000695.39622 10.06266 13.26768 17.44940 22.89230 29.95992 237.37631 21.72452 31.40942 45.25926 65.00087 93.05097 1469.77160 TABLE 2 Present Value of $1 (1 + i)" wi 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 70% 8.0% 0.0% 10.0% 11.0% 12.0% 20.0% 1 099010 098522 098099 097561 097087 096615 096154 0 95694 095238 094787 094340 093458 092593 091743 090909 090090 089286 083333 2 098030 097066 096117 095181 094260 093351092456 091573 090703 089845 089000087344 085734 084168 052645 081162 079719 069444 3 097059 0.95632 0.94232 0.92860 091514 0.90194 0.88900 0.87630 0.86384 0.85161 0.83962 0.81630 0.79383 0.77218 0.75131 0.73119 0.71178 0.57870 4 0.96098 0.94218 0.92385 0.90595 0.88849 0.87144 0.85480 0.83856 0.82270 0.80722 0.79209 0.76290 0.73503 0.70843 0.68301 0.65873 0.63552 0.48225 5 0.95147 0.92826 0.90573 0.88385 0.86261 0.84197 0.82193 0.80245 0.78353 0.76513 0.74726 0.71299 0.63058 0.64993 0.62092 0.59345 0.56743 0.40188 6 0.94205 0.91454 0.88797 0.86230 0.83748 0.81350 0.79031 0.76790 0.74622 0.72525 0.70496 0.66634 0.63017 0.59627 0.36447 0.53464 0.30663 0.33490 7 0.93272 0.90105 0.87056 0.81127 0.91309 0.78599 0.75992 0.73485 0.71068 0.68744 0.66506 0.62275 0.58349 0.54703 0.51316 049166 0.45235 0.27908 8 0.92348 0.88771 0.85349 0.82075 0.78941 0.75941 0.75069 0.70319 0.67684 0.65160 062741 0.58201 0.54027 0.50187 0.46651 0.43393 0.40388 0.23257 9 091434 087459 083676 080073 076042 073373 0.70259 067290 064461 0.01763 0 59190 0.54999 050025 0.46043 042410 0.39092 036061 0.19981 10 090529 086167 082095 078120 074409 070992067556 064393 061391058543 0558390 50835 046319047741038554035218 032197 016151 Il 0.896.32 0.84893 0.80426 0.76214 0.72242 0.68495 0.64958 0.61620 0.58468 0.55491 0.52679 0.47509 0.42998 0.38753 035049 0.31728 0.28748 0.13459 12 0.88745 083639 0.78849 0.74356 0.70138 066178062400058966 0.55084 0.53598 0.490970444010397110.35553 031863 0.28584 0.25668 011216 13 087866 082403 0.77303 072542 0.68095 069940 060057 056427 053032 049856 046884 041496 036770 0.32618 078966 025751 021917 009346 14 0.86996 081185 0.75788 070773 0.66112 0.61778 0.57748 0.59997 0 S0507 0.47257 0.44230 038782 034046 0.29925 026333 0.23199 0.20462 0.07789 15 0.86135 0.79985 0.74301 0.69047 0.64186 0.59689 0.55526 0.51672 0.48102 0.44793 0.41727 0.36245 031524 0.27454 023939 0.20900 0.18270 0.06491 16 0.85282 17 0.84438 18 0.83602 19 0.92734 20 0.81954 0.78803 0.72845 0.67362 0.62317 0.57671 0.77639 0.71416 0.65720 0.60502 0.55720 0.76191 0.70016 0.64117 0.58739 0.53836 0.75361 0.68643 0.62553 0.57029 0.52016 0.74247 0.67297 0.61027 0.55368 0.50257 0.53391 0.49447 0.45811 0.42458 0.51337 0.47318 0.43630 0.40245 0.49363 0.45280 0.41552 0.38147 0.47464 0.43330 0.39573 0.36158 0.45639 0.41464 0.37089 0.34273 0.39365 0.33873 0.29189 0.25187 0.37136 0.31657 0.27027 0.23107 0_35034 0.29586 0.25025 0.21199 0.33051 0.27651 0.23171 0.19449 0.31180 0.25842 021455 0.17843 0.21763 0.18829 0.16312 0.05409 0.19784 0.16963 0.14561 0.01507 0.17986 0.15282 0.13004 0.03756 0.16351 0.13768 0.11611 0.03130 0.14564 0.12403 0.10367 0.02008 21 0.81143 0.73150 0.65978 0.50539 0.53755 0.48557 0.43883 0.39679 0.35894 0.32486 0.20416 0.24151 0.19866 0.16370 0.13513 0.11174 0.00256 0.02174 24 0.78757 0.69954 0.62172 0.55288 0.49193 0.43796 0.39012 0.34770 0.31007 0.27656 024698 0.19715 0.15770 0.12640 0.10153 0.09170 0.06588 0.01258 25 0.77977 068921 0.60953 0.53939 0.47761 0.42315 0.37512 0.33273 0.29530 0.26223 0.23500 0.18425 0.14602 0.11591 0.09230 0.07361 DOSS82 0.01048 28 075684 065910 0.57437 0 S0088 043708 098165 033348 0 39157 025509 0.22332 0 19563 015040 011591 008955 008934 005382 004187 0.00607 29 0.74934 064936 0.56311 0.48866 0.42435 036875 032065 0.27902 024295 021168 0.18456 0.14056 0.10733 0.08215 0.06304 0.04849 003738 0.00506 30 0.74192 0.63976 0.55207 0.47674 0.41199 0.35628 0.30832 0.26700 31 0.73458 0.63031 0.54125 0.46511 0.39999 0.34423 0.29646 0.25550 10 0.67165 0.55126 0.45289 0.37243 0.30656 0.25257 0.20829 0.17193 0.23138 0.22036 0.14205 0.20064 0.17411 0.13137 0.09938 0.19018 0.16125 0.12277 0.09202 0.11746 0.09722 0.06678 0.01603 0.07537 0.05731 0.04368 0.03338 0.00421 0.06915 0.05210 0.03935 0.02980 0.00351 0.03184 0.02209 0.01538 0.01075 0.00068 TABLE 3 Future Value of an Ordinary Annuity of $1 (1 + i)" - 1 FVA= wi 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 55% 6.0% 7.0% 8.0% 0.0% 10.0% 11.0% 12.0% 20.0% 1 2 3 4 1.0000 2.0100 3.0301 4.0604 5.1010 1.000 2.0150 3.0452 4.0909 5.1523 1.0000 2.0200 3.0604 4.1216 5.2040 1.0000 2.0250 3.0756 4.1525 5.2563 1.0000 2.0300 3.0909 4.1836 5.3091 1.0000 1.0000 1.0000 1.000 1.000 1.000 2.0350 20400 2.0450 20500 2 0550 20600 3.1062 3.1216 3.1370 3.15253.1680 3.1836 4.21494.2465 4.2782 4.3101 4.34234.3746 5.3625 5.41635.47075.5256 55811 5.6371 1.0000 1.0000 2.0700 2.0800 3.21493.2464 4.4399 4.5061 5.7507 1.0000 2.0900 3.2781 4.5731 5.9847 1.000 2.1000 3.3100 4.6410 6.1051 1.000 2.1100 3.3421 4.7097 6.2278 1.0000 2.1200 3.3744 4.7793 6.3528 1.0000 22000 3.6400 5.3680 7.4416 5 6 7 8 6.1520 7.2135 8.2857 .3685 10.4622 6.2296 7.3230 8.4328 9.5593 10.7027 6.3081 7.4343 8.5830 9.7546 10.9497 6.3877 7.5474 8.7361 9.9545 11.2034 6.4684 6.5502 6.6330 6.7169 7.6625 7.77947.8983 8.0192 8.89239.05179.21429.3800 10.1591 10.3685 10.5828 10.8021 11.4639 117314 12.0061 12.2882 6.8019 8.1420 9.5491 11.0266 12.5779 6.88816 .9753 8.2669 8 .3938 9.7216 9.8975 11.2563 11.4913 12.8754 13.1808 7.1533 8.6540 10.2598 11.9780 13.8164 7.33597.52337.7156 8.9228 9.2004 9.4872 10.6366 11.0285 11.4359 12.4876 13.0210 13.5795 14.4866 15.1929 15.9374 7.9129 9.7833 11.8594 14.1640 16.7220 8.1152 10.0890 12.2997 14.7757 17.5487 9.9299 12.9159 16.4991 20.7989 25.9587 9 9 10 11 11.5668 11.8633 12.1687 12.4835 12.8078 12 12.6825 13.0412 13.4121 13.7956 14.1920 13 13.8093 14.2368 14.6803 15.1404 15.6178 14 14.9474 15.4504 15.9739 16.5190 17.0863 15 16.0969 16.6821 17.2934 17.9319 18.5989 13.1420 14.6020 16.1130 17.6770 19.2957 13.4864 13.8412 14.2068 15.0258 15.4640 159171 16.6268 17.1599 17.7130 18.291918.932119.5986 20.0236 20.7841 21.5786 14.5835 16.3856 18.2868 20.2926 22.4087 14.9716 15.7836 16.8699 17.8885 18.882120.1406 21.0151 22.5505 23.2760 25.1290 16.6455 18.9771 21.4953 24.2149 27.1521 17.5603 18.5312 20.140721.3843 22.9534 24.5227 26.0192 27.9750 29.360931.7725 19.5614 22.7132 26.2116 30.0949 34.4054 20.6546 24.1331 28.0291 32.3926 37.2797 32.1504 39 5805 48.4966 59.1959 7 2.0351 16 17.2579 17.9324 18.6.393 19.3802 20.1569 20.9710 21.8245 22.7193 23.6575 17 18.4304 19.2014 20.0121 20.8647 21.7616 22.7050 23.6975 24.7417 25.8404 18 19.6147 20.4894 21.4123 22.3863 23.4144 24.4997 2.6454 26.855128.1324 19 20.8109 21.7967 22.8406 23.9460 25.1169 26.3572 27.6712 29.0636 30.5390 20 22.0190 23.1237 24.2974 25.5447 26.8704 28.2797 29.778131.3714 33.0660 24.6411 26.9964 29.4812 32.1027 34.8683 25.6725 27.8881 28.212930.8402 30.9057 33.9990 33.7600 37.3790 36.7856 40.9955 30.3243 33.0034 33.7502 36.9737 37.450241.3013 41.4463 46.0185 45.7620 51.1601 35.9497 39.189942.7533 87.4421 40.544744.5008 48.8837 105.9306 45.599250.395955.7497128.1167 51.1591 56.9395 63.4397 154.7400 57.2750 64.2028 72.0524 186.6880 21 23.2392 24.4705 25.7833 27.1833 28.6765 30.2695 31.9692 33.7831 30 34.7849 37.5387 40.5681 43.9027 47.5754 51.6227 56.084961.0071 40 48.886454.2679 604020 67.4026 75.4013 84.5503 950255 107.0303 35.7193 66.4388 120 7998 37.7861 72.4355 136.6056 39.9927 79.0582 154.7620 44.8652 50.422956.7645 94.4608 113.2832 136.3075 199 6351 259.0565 337.8824 64.0025 72.2651 81.6987225.0256 164.4940 199.0209241.3327 1181.8816 442.5926 581.8261 767.0914 7343 8578 TABLE 4 Present Value of an Ordinary Annuity of $1 PVA W 1 2 3 4 5 2.0% 1.5% 0.99010 0.98522 1.97040 1.95588 2.94099 291220 3.90197 3.85438 4.853434.78264 2.0% 0.98039 1.94156 2.88388 3.80773 4.71346 2.5% 0.97561 1.92742 2.85602 3.76197 4.64583 3.0% 0.97087 1.91347 2.82861 3.71710 4.57971 3.5% 4.0% 096618 0.96154 1.899691.88609 2.80164 2.77509 3.67308 3.62990 4.51505 4.45182 4.5% 0.95694 1.87267 2.74896 3.58753 4.38998 5.0% 0.95238 1.85941 2.72325 3.54595 4.32948 5,5% 094787 1.84632 2.69793 3.50515 4.27028 6.0% 7.0% 0.94340 0.93458 1.833391.80802 2.67301 2.62432 3.46511 3.38721 4.21236 4.10020 8.0% 0.0% 0.0% 11.0% 12.0% 20.0% 0.92593 0.91743 0.90909090090 0.89286 0.83333 1.78326 1.75911 1.73554 1.71252 1.69005 1.52778 2.57710 2.53129 2.48685 2.44371 2.40183 2.10648 3.312133.23972 3.16987 3.10245 3.03735 2.58873 3.992713.88965 3.79079 3.69590 3.60478 2.99061 6 7 8 9 10 5.79548 5.69719 5.60143 5.50813 5.41719 6.728196.59821 6.47199 6.349396.23028 7.65168 7.485937.32548 7.170147.01969 8.56602 8.36052 8.16224 7.970877.78611 9.47130 9.22218 8.982598.75206 8.53020 5.32855 5.24214 5.15787 5.07569 4.99553 4.91732 4.76654 4.62288 6.11454 6.00205 5.89270 5.78637 5.68297 5.582385.389295.20637 6.87396 6.73274 6.59589 6.46321 6.33457 6.209795.97130 5.74664 7.607697.435337.268797.10782 695220 6.801696.51523 6.24689 8.31661 8.11090 7.91272 7.721737.537637.30009 7.02358 6.71008 4.48592 5.03295 5.53482 5.99525 0.41766 4.35526 4.86842 5.33493 5.75902 6.14457 4.23054 4.71220 5.14612 5.53705 5.88923 4.11141 3.32551 4.56376 3.60459 4.96764 3.83716 5.32825 4.03097 5.65022 4.19247 11 12 13 14 15 10.36763 11 25508 12.13374 13.00370 13.86505 10.07112 9.78685 10.90751 10.57534 1173153 11.34837 12.54338 12.10625 13.343231284926 9.51421 9.252629.00155 10.25776 9.95400 9.66333 10.98319 10.63496 10.30274 11.69091 11 29607 10.92052 12 3813 11.93794 11.51741 8.76048 9.38507 9.98565 10.56312 1111839 8.52892 9.11858 9.68285 10.22283 10.73955 8.30641 8.86325 9.39357 9.89864 10.37966 8.09254 8.61852 9.11708 9.58965 10.03758 7.886877.49867 7.13896 3.383847.942697.53608 8.85268 3.357657.90378 9.294988.74547 3.24424 9.712259.10791 3.55948 6.80519 6.49506 6.20652 5.93770 4.32706 7.16073 6.81369 6.49236 6.19437 4.43922 7.486907.10336 6.74987 6.42355 4.53268 7.786157.36669 6.98187 6.62817 4.61057 8.06069 7.60608 7.19087 6.81086 4.67547 16 17 18 19 20 14.71787 1556225 16.39827 17.22601 18.04555 14.13126 14 90765 15.67256 16.42617 17.16864 13.57771 14 29187 14.99203 15.67846 16.35143 13.05500 13.71220 14.35336 14.97889 15.58916 12.56110 13.16612 13.75351 14.32380 14.87747 12.09412 11.65230 12 65132 12 16567 13.18968 12.65930 13.70984 13.13394 14.21240 13.59033 11.23402 10.83777 11 707191127407 12.15999 11.68959 12.59329 12.08532 13.00794 12.46221 10.46216 10.10590 1086461 10.47726 11.24607 10.82760 11.60765 11.15812 11.95038 11.46992 9.44665 9.85137 8.31256 7.82371 7.37916 6.97399 4.72956 9.76322 9.12164 8.54363 802155 754879 7.11963 477463 10.059099.371898.75563 3.20141 7.701627.24967 4.81219 10.33560 9.60360 8.95011 8.361927.839297.36578 4.84350 10.59401 9.81815 9.12855 8.51356 7.96333 7.46944 4.86958 21 18.85698 17.90014 25 22 02316 20.71961 302580771 24.01584 40 32.83469 29.91585 17.01121 16.18455 1952346 18 42438 22 39646 20.93029 27.35548 25.10278 15.41502 14.69797 14.02916 17.41315 16.48151 15 62208 19.60044 1839205 17.29203 23.11477 21.35507 19.79277 13.40472 12.82115 1482821 14.09394 16.28889 15.37245 18.40158 17.15909 12.27524 13.41393 14.53375 16.04612 11.76408 10.8.3553 12.78336 11.65358 13.76483 12.40904 15.04630 13.33171 10.01680 10 67478 11.25778 11.92461 9.29224 8.64860 3.07507 7.56200 4.89132 982258 9.07704 8.42174784314 494759 10.273659.42691 8.69379 8.05518 4.97894 10.75736 9.77905 8.95105 8.24378 499660 TABLE 5 Future Value of an Annuity Due of $1 I (1 + i)" FVAD = 1 (1+) wi 1 2 3 4 1.0% 1.0100 2.0301 3.0604 4.1010 5.1520 1.5% 10150 2.0452 3.0909 4.1523 5.2296 2.0% 1.0200 2.0604 3.1216 4.2040 5.3081 2.5% 1.0250 2.0756 3.1525 4.2563 5.3877 3.0% 3.5% 4.0% 4.5% 5.0% 1.0300 1.0350 1.0400 1.0450 1.0500 2.0909 21062 2.1216 2.1370 2.1525 3.1836 3.21493.2465 3.2782 3.3101 4.30914.3625 44163 4.4707 4.5256 5.4684 5.5502 5.63305.71695.8019 5.5% 6.0% 7.0% 1.0550 1.0600 1.0700 2.1680 2.18362.2149 3.3423 3.3746 3.4399 4.5811 4.6371 4.7507 5.88815.97536.1533 8.0% 0.0% 1. 000 1.0900 2.24642.2781 3.5061 3.5731 4.8666 4.9847 6.33596,5233 0.0% 1.1000 2.3100 3.6410 5.1051 6.7156 11.0% 12.0% 20.0% 1.1100 1.1200 1.2000 2.3421 2.3744 2.6400 3.7097 3.7793 4 3680 .2278 5.3528 6.4416 6.91297.11528.9299 5 6 7 8 9 10 6.2135 7.2857 8.3685 9.4622 10.5668 6.3230 7.4328 85593 9.7027 108633 6.4343 7.5830 8.7546 99497 11.1687 6.5474 6.6625 6.7794 6.89837.01927.1420 7.26697.39387.6540 7.73617.8923 80517 8.2142 8 3800 8.5491 8.7216 8.8975 9.2598 8.9545915919 3685 9.5828 98021100266 10.2563 10.4913 10.9780 10.2034 10 4639 10 7314 11.0061 11 2882 115779118754 12.1808 12.8164 11.4835 11.8078 12 1420 12.4864 12.8412 13 2068 13.5835 13.9716 14.7836 7.9228 9,6366 11.4876 13.4866 15.6455 8.2004 10.0285 12.0210 14.1929 165603 .4872 9.78339.0890 10:4359 10.8594 11.2997 12.579513.1640 13.7757 149374 15.7220 16.5487 17.5312 18.5614 19.6546 11.9159 15.4991 19 7989 249587 31.1504 11 12 13 14 15 11.6825 12.0412 12.8093 13.2368 13.9474 14.4504 15.0969156821 16.2579 169324 12.4121 12.7956 13.6803 14.1404 14.9739 15.5190 16 2934 169319 17.6393 183802 13.1920 13.6020 14.0258 14.6178 15.1130 15.6268 16.0863 16.6770 17.2919 175989 18.2957 19.0236 19 1569 19 9710 20.8245 14.4640 16.1599 17.9321 19.7841 217193 14.9171 16.7130 18.5986 20 5786 22 6575 15.3856 17.2868 19.2926 21.4087 23.6411 15.860916.8885 17.8821 19.1406 20.0151 21.5505 22.2760 24 1290 24.6725 26 8881 17.9771 19.140720.3843 20.495321.9534 23.5227 23.2149 25.0192 26.9750 261521 28.3609 30.7725 293243 32.0034 34 9497 21.713223.1331 25.2116 27.0291 29.0949 31.3926 334054 36 2797 38.1899 41.7533 38.5805 47.4966 58.1959 71 0351 864421 16 17.4304 18.2014 19.012119.8647 20.7616 17 18.6147 19.4894 20.4123 21.3863 22.4144 18 19.8109 20.7967 21.8406 22.9460 24.1109 19 21.0190 22.1237 23.2974 24.5447 25.8704 20 22.2392 23.4705 24.7833 26.1833 27.6765 21.7050 22.697523.7417 23.4997 24.6454 25.8551 25.3572 26.6712 28.0636 27.2797 28.7781 30.3714 29.2695 30.969232.7831 24.8404 27.1324 29.5390 32.0660 34.7193 25.9964 27.2129 28.481229.9057 31.1027 32.7600 33.8683 35.7856 36.7861 38.9927 29.840232.7502 35.9737 39.5447 43.5008 32.9990 36.4502 40.301344.5992 49.3959 36.3790 40.4463 45.0185 50.1591 55.9395 39.9955 44.762050.1001 56.2750 63.2028 43.8652 49.422955.7645 63.002571.2651 47.8837 54.7497 62.4397 71.0524 80.6987 104.9306 127.1167 153.7400 185.6880 224.0256 21 25 30 40 23.4716 28.5256 35.1327 49.3752 24.8376 26.2990 27.8629 29.5368 31.3289 33.2480 30.5140 32.670935.0117 37.5530 40.3131 43.3117 38.1018 41.3794 45.0003 49.0027 53.4295 58.3283 55.0819 61.6100 69.0876 77.6633 87.509598.8265 35.3034 46.5706 63.7524 111.8467 37.5052 50.1135 69.7608 126.8398 39.8643 53.9660 76.4194 144.1189 42.3923 48.0057 58.1564 67.6765 83.8017 101.0730 161.0477 213.6096 54.4568 78.9544 122.3459 279.7810 61.8733 92.3240 148.5752 368.2919 70.4027 80.2143 91.5026 270.0307 108.1818 126.9988 149.3339 566.3773 180.9434 220.9132 270.2926 1418.2579 486.8518 645.8269859.1424 8812.6294 TABLE 6 Present Value of an Annuity Due of $1 PVAD x (1+i) wi 1 2 3 4 5 1.0% 1.00000 1.99010 2.97040 3.94099 4.90197 1.5% 1.00000 1.98522 2.95588 3.91220 4.85438 2.0% 2.5% 3.0% 100000 100000 100000 1.98039 1.97561 1.97087 2.94156 2.92742 2.91347 3.88388 3.85602 3.82861 4.807734.761974.71710 3.5% 100000 1.96618 2.89969 3.80164 4.67308 4.0% 4.5% 100000 100000 1.96154 1.95694 2.886092.87267 3.775093.74896 4.62990 4.58753 5.0% 1.00000 1.95238 2.85941 3.72325 4.54595 5.5% 100000 1.94787 2.84632 3.69793 4.50515 6.0% 100000 1.94340 2.83339 3.67301 4.46511 7.0% 100000 1.93458 2.80802 3.62432 4.38721 8.0% 0.0% 100000 1.00000 1.92593 1.91743 2.78326 2.75911 3.57710 3.53129 4312134.23972 10.0% 11.0% 12.0% 100000 100000 1.00000 1.90909 1.90090 1.89286 2.73554 2.71252 2.69005 3.48685 3.44371 3.40183 4.16987 4.10245 4.03735 20.0% 1.00000 1.83333 2.52778 3.10648 3.58873 6 7 3 9 10 5.85343 5.78264 5.71.346 5.64583 5.57971 5.51505 5.451825-38998 5.32948 6.79548 6.69719 660143 6.508136.417196.32855 6.24214 6.157876.07569 7.72819 7.59821 7471997.349397.23028 7.11454 7.00205 6.89270 6.78637 8.65168 8.48593 8.32548 8.17014 8.01969 7.87396 7.73274 7.595897.46321 9.566029.360529.16224 8.97087 3.78611 8.607698.43533 8.26879 8.10782 5.27028 5.99553 6.68297 7.33457 7.95220 5.21236 5.100204.992714.89965 5.91732 5.766545.62288 5.48592 6.58238 6.389296.20637 6.03295 7.209796.97130 6.74661 6.53482 7.801697.51523 7.246896.99525 4.79079 4.69590 4.60478 3.99061 5.35526 5.23054 5.11141 4.32551 5.86842 5.712205 .56376 4.60459 6.33493 6.14612 5.96764 4.83716 6.75902 6.53705 6.32825 5.03097 11 12 13 14 15 10.47130 11.36763 12.25508 13.13374 14.00370 10.22218 11.07112 11.90751 12.73153 13.54338 9.98259 10.78685 11.57534 12 34837 13.10625 9.75206 9.53020 10.51421 10.25262 11.25776 10.95400 11.98318 11.63496 12.69091 12.29607 9.31661 10.00155 10.66333 11.30274 11.92052 9.110908.91272 9.76048 9.52892 10.38507 10.11858 10.98565 1068285 11.56312 11 22283 8.72173 9.30641 9.86325 10.39357 10.89861 8.53763 9.09254 9.61852 10.11708 10.58965 8.360098.02358 7.71008 8.886878.49867 8.13896 9.38384 8.942698.53608 9.85268 9.35765 8.90378 10.29498 9.74547 9.24424 7.41766 7.80519 8.16073 8.48690 8.78615 7.14457 6.88923 6.650225.19247 7.49506 7.20652 6.93770 5.32706 7.81369 7.49236 7.19437 5.43922 8.10336 7.74987 7.42355 553268 8.36669798187 7.62817 5.61057 16 17 18 19 20 14.86505 15.71787 16.56225 17.39827 18.22001 14.34323 13.84926 15.13126 14.57771 15.90765 15.29187 16.67256 1599203 17.42617 16.67846 13.38138 14.05500 14.71220 15.35336 15.97889 12.93794 13.56110 14.16612 14.75351 15.32380 12.51741 13.09412 13.65132 14.18968 14.70984 12.11839 12.65230 13.16567 13.65930 14.13394 11.73955 11.37966 12 2340211.83777 12.70719 12.27407 13.15999 12.68959 13.59329 13.08532 11.03758 11.46216 11.86461 12.24607 12.60765 10.71225 11.10590 11.47726 11.82760 12.15812 10.10791 10.44665 10.76322 11.05909 11.33560 9.55948 9.85137 10.12164 10.37189 10.60360 9.060698.60608 8.190877.81086 9.31256 8.82371 8.37916 7.97399 9.54363 9.02155 8.54879 8.11963 9.75563 920141 8.70162 8.24967 9.95011 9.36492 8.83929 8.36578 5.67547 5.72956 5.77463 5.81219 5.84350 21 19.04555 18.16864 17.35143 16.58916 15.87747 25 22.24339 21.03041 1991393 18.88499 17.93554 30 26.06579 24.37608 22.84438 21.45355 20.18845 40 33.16303 3036458 2790259 25 73034 23 80822 15.21240 17.05837 19.03577 22.10250 14.59033 14.00794 13.46221 12.95038 12.46992 11.59401 10.81815 16.24696 15.49548 14.79864 14.15170 13.55036 12.46933 11.52876 17.98371 17.02189 16.14107 1533310 14.59072 13.27767 12.15841 20.58448 19 22966 18 01704 1692866 1594907 14.26493 12 87858 10.12855 9.51356 8.96333 8.46944 5.86958 10.70661 998474 9.34814 8.78432 5.93710 11.19828 1036961 965011 9.02181 597472 11.72552 1075696 993567 923303599592