Payments

You need $20.974 at the end of 10 years, and your only investment out is an 8 percent long-term certificate of deposit compounded annually. With the certificate of deposit, you make an initial investment at the beginning of the first year. Use Appendix Band Appendix for an approximate an aver, but calculate your final answer using the form and finance calculator methods a. What single payment could be made at the beginning of the first year to achieve this objective? (Do not round intermediate calculations, Round your final answer to 2 decimal places.) Single payment made b. What amount could you pay at the end of each year annually for 10 years to achieve Nis same objective? Do not round intermediate c ulations. Round your finan Amount to be paid Appendix B Present value of $1. PVP V-F 1296 0.980 0.971 0.971 0.961 0.951 0.792 996 0.917 0.842 0.772 0.708 0.650 0.596 .547 0.502 0.480 0.422 0.952 0 907 0.164 0.823 0.784 0.746 0 711 0.677 0 645 0.614 0 585 0.557 0933 0923 0.914 0.905 0.898 0887 0.879 0.870 0.961 0.942 0.924 0.906 0.888 0.871 0.853 0.837 0.820 0.804 0.789 0.773 0.758 0743 0.728 0.714 0.700 0.686 0.673 0610 0.552 0453 0.372 0.388 0.962 0.925 0.889 0.855 0.822 0.790 0.750 0.731 0.703 0.676 0.650 0.625 0.601 0.577 0.555 0.534 0.513 0.494 0.475 0.456 0.375 0.308 0208 0.141 0.943 0.915 ORAR 0.863 0.637 0.813 0.789 0766 0.744 0.722 0.701 0.681 0.661 0.642 0.623 0.005 0.587 0.570 0.554 0.478 0.412 0307 0.22 Percent 69 7% 0.943 0.935 0.890 0.873 0.840 0.816 0.763 0.747 0.713 0.705 0.666 0.685 0.623 0.627 0.582 0599 0.544 0.558 0.508 0.527 0.475 0.497 0.444 0.469 0.415 0442 0388 0.417 0.362 0.394 0339 0.371 0.317 0.350 0.296 0.331 0.277 0.312 0.250 0 233 0.184 0.174 0.131 0097 0.067 0.054 0.034 8% 0.926 0.857 0.794 0.735 0.681 0.630 0.5830 0.540 0.500 0.663 0.429 0.397 0.368 0.340 0.315 0292 0.270 0.250 0.232 0.215 0.146 0.099 0.046 0.021 10% 0.909 0.826 0.751 0.69 0.621 0.564 0.513 0.467 0424 0.386 0350 0319 0290 0.23 0239 0218 0.16 0.180 0.164 0.149 0.092 0.057 0 022 0.009 11% 0.901 0.812 0.731 0.659 0.593 0.535 0.482 0.434 0.391 0.352 0.317 0286 0258 0.232 0209 0.188 0.170 0.153 0.138 0.124 0074 0.044 0.015 0.005 0.893 0.797 0.712 0.636 0.567 0.507 0.452 0.404 0.361 0.322 0.287 0257 0.229 0.205 0.183 0.163 0.146 0.130 0.118 0.104 0.059 0.033 0.011 0.003 0.356 0.326 0.299 0.275 0.252 0.231 0.212 0.194 0.178 0.116 0,075 0.032 0.013 0.530 0.853 0.844 0.836 0828 0 820 0.780 0.7420 0.672 0.500 0.505 0.481 0 458 0.436 0.416 0.396 0.377 0.295 0.231 .142 0.087 8 883 0 Appendix (concluded) Period 0 0 35% 0.741 549 0.406 0301 223 0.165 0.122 0.001 0.067 0.05 0.037 13% 14% 15% 16% 0.885 0.877 0.870 0.862 0.783 0.769 0.750 0.743 0.893 0.675 0.658 0.641 0.61305920.5720552 0.543 0.5190 .497 0.476 0.480 0.456 0 432 0.410 0.425 0.400 0.376 0.354 0.376 0.351 0.327 0.305 0.333 0.308 0.24 023 0.295 0.270 0.247 0 227 0.261 0.237 0.215 0.195 0.231 0.208 0.187 0.16 0.204 0.182 0 .163 0.145 0.181 0.100 0.141 0.125 0.160 0.140 0.123 0.108 0.141 0.123 0.107 0 093 0.125 0.106 0.093 0.000 0.111 0.005 0.081 0 059 0.098 0.003 0.070 0 050 0.067 0.073 0.061 0.051 0 047 0.008 0.030 0 024 0.025 0.020 0.015 0.012 0.008 0.005 0004 0.003 0.002 0.001 0.001 0.001 Percent 18% 19% 0.847 0.840 0.718 0 .706 0.609 0 .593 0.515 0.499 0.437 0.410 0.370 0.352 0.314 0.298 0.266 0 .249 0.225 0.209 0.101 0.178 0.162 0 .148 0.137 0.124 0.116 0.104 0.000 0. 00 0.084 0.074 0.071 0.002 0.000 0.062 0.051 0044 0.0443 0.037 0.037 0.031 0.0160 .013 0.0070 .005 0.001 0.001 O 40% 0.714 0510 0.364 0260 0.186 0.133 0.095 0.068 0.048 0.035 0.025 17% 0.855 0.731 0.624 0534 0.456 0390 0 333 0285 0243 0.208 0.178 0.152 0.130 0.111 0.005 0.081 0.069 0.059 0 051 0.043 0.000 0.000 0.002 0 20% 0.833 0.894 0.579 0.482 0.402 0.335 0.279 0.233 0.194 0.182 0.135 0.112 0.093 0.078 0.055 0.054 0.045 0038 0.031 0.026 0010 0.004 0.001 0 0 25% 30% 0.800 0.750 0.540 0.592 0.512 0.455 04100 350 0.3280 .269 0.262 0 207 0210 0.15 0.168 0.123 0.134 0.094 0.107 0.073 0.06 0.056 0.000 0.003 0.055 0.033 0.044 0.025 0.005 0.020 0.028 0.015 .023 0.012 0.0180 .009 0.014 0.007 0.012 0 .005 0.00 0.001 0.001 0 0 0 0 0 0 50% 0.667 0.444 0.296 0.198 0.132 0.088 0.059 0.039 0.025 0.017 0.012 0.008 0005 0003 0002 0.002 0.020 0.015 0.013 0.009 0 0.008 0.006 0.005 0.003 0.002 0.001 0.005 0.003 0.002 0.002 0.001 0 0.001 0.001 SUB 0 0 0 0 Apple Future of any of $1,7VF -A percent 1% Period 6 21 10% 1.000 100 1.000 2010 2.100 1.000 2.110 3342 4710 3030 1.000 2.020 3080 4.122 5.204 60 3.310 4375 41050 5.101 6.152 7523 9200 6.105 7.716 9.487 11.435 13.579 8.286 359 13 021 15130 10.452 1.000 2.050 2.060 3.155 4310 5.526 5537 6.B02 6.975 8.394 9549 9.897 11 007 11.91 12578 13.181 14207 14972 15.917 46.87 17.713 18.582 19 599 21015 2157923278 23.667 25.673 25.840 28.213 28.132 30.906 30.539 1 57 18977 20141 1.000 1.000 2.030 2.040 3.091 4.184 4246 5.309 5.416 6.468 7.662 790 88929214 10.159 10.583 11.464 12.006 12.308 13.486 14192 15.025 1 5 518 56 597 17 086 18 292 18.59920024 20.157 21.825 21.782 23.698 23.414 25.645 25.117 27671 26.870 29.779 9.459 41 546 47 575 56.085 75001 95 696 112.8015267 8.583 9.755 10.950 12.169 13.412 14 15 974 17 203 18.639 20.012 21.412 22.841 24.297 22.030 40.588 60.00 4579 12.583 13. 809 14947 16.097 17.258 18.430 19.615 20.811 22.019 28.23 34.785 48 BS 64.463 24215 &&&&&R3933 $3333333 88888 18531 21.384 24.523 27 975 31.772 35.950 40.545 5.599 51.159 57 275 26.019 29 361 30.324 33.003 28.750 18974 37.450 41 301 018 5.72 51.150 73.106 4701 13631 259 0633789 573.77 815.08 7.913 9.783 11.859 14.154 16.722 1958 22.713 26.212 30 095 34.405 39.90 4 501 50.306 56309 54203 114.41 199.02 581.83 1.668.8 67.727 1200 200-35 154.78 2 9034 19964 40653 154.49 442.59 1.163.9 Appendix concluded 20 1000 30% 1000 2.300 9.00 14 17.50 23 32015 12% 13% 10% 15% 1.000 1.000 1.000 1000 2.120 2.130 2140 2150 2.160 3.374 3.407 3.440 3.473 3506 4779 450 49214993 5.080 6,353 6.480 6.610 576 8.115 303 8977 10.08 10.405 11.414 12300 12.757 13233137727 1420 14.775 15 416 16.00 15.786 17.519 17.549 18.00 19337 20.304 2121 20.655 21814 23.045 24349 25.733 24.133 25.650 27271 29.002 30.850 28.029 29 32.080 34352 32390 34 37 581 40 505 3.572 37200 40.417 51.560 753 05672 5 5.717 1884 79 58 118 65675 71673 55.750 61725 6334 75.698 54.141 63.40 70 740 78.000 8.212 8.603 72.052 0947 01025 102.44 115.38 133.33 155.62 101.67 21279 249.21 241-39 200 20 356.70 74 75 76709 .0127 130 1,779.1 2003 2.4000 1 445 7211 7 10 19% 25% 1 000 1 000 1.000 2170 2.180 2.190 2 200 2.250 3539 352 3.506 3 540 3.813 5.140 5.215 5.291 5756 7014 7.154 7297 9202 11259 1210 15.073 15.02 1519 19.542 1828 1923 25. 22390 24.701 27 200 30 404 32.150 42 566 37.180 39 581 54203 5244 402 58.750 50190 58.110 50 68.251 109 89 7200 138.11 78997068 96.022 1050 173.84 93.406 10374 115.27 128.12 218.05 110.0 241 1817 154.74 27356 130.03 1653 185 18.0 342.95 292.11 302.50 471.93 10548 7900 3667 118 32272 31345 416 5.529.8 7340 30.00 15 20 3151505. 200 56405 74327 97 16729 218.47 2507 371 52 483.97 630.17 2,348 80 8 7300 120.393.0 0