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Sheridan Enterprises earns 7% on an investment that pays back $88,500 at the end of each of the next 7 years. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount Sheridan Enterprises invested to earn the 7% rate of return? (Round answer to 2 decimal places, e.g. 25.25.. Sheridan Enterprises invested TABLE 1 Future Value of 1 (n) Periods 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 4% 1.00000 1.04000 1.08160 1.10250 1.12360 1.19102 1.12486 1.15763 1.16986 1.21551 1.26248 1.21665 1.27628 5% 6% 8% 9% 11% 12% 1.00000 1.00000 1.11000 1.12000 7% 10% 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.05000 1.06000 1.07000 1.08000 1.09000 1.10000 1.21000 1.23210 1.16640 1.18810 1.14490 1.29503 1.33100 1.22504 1.25971 1.31080 1.36049 1.41158 1.46410 1.46933 1.53862 1.61051 1.33823 1.40255 1.25440 1.36763 1.40493 1.52088 1.51807 1.57352 1.74901 1 1.68506 1.76234 2.01136 1.77156 1.87041 1.97382 2.31306 1.41852 1.50073 1.58687 1.67710 1.26532 1.34010 2.07616 2.21068 2,66002 1.31593 140710 1.50363 1.60578 1.71382 1.82804 1.94872 2.30454 2.14359 2.47596 1.36857 1.47746 1.71819 1.85093 1.99256 1.59385 2.77308 1.83846 1.68948 1.99900 2.17189 2.35795 2.55803 1.42331 1.55133 2.59374 2.83942 1.96715 1.62889 1.79085 2.15892 2.36736 1.48024 2.33164 2.58043 2.85312 1.89830 2.10485 1.71034 3.49845 3.89598 2.81267 3.13843 2.51817 201220 2.25219 1.79586 2.71962 3.06581 3.45227 3.88328 1.88565 2.13293 2.40985 2.93719, 3.34173 3.79750 4.31044 3.17217 3.64248 4.17725 4.78459 3.10585 1.53945 3.15176 3.47855 1.60103 4.36349 1.66507 2.26090 2.57853 1.97993 1.73168 1.80094 2.07893 2.39656 2.75903 1.87298 1.94790 3.42594 3.97031 4.59497 5.31089 2.54035 2.95216 2.18287 3.70002 4.32763 5.05447 5.89509 2.69277 3.15882 2.29202 6.54355 3.99602 471712 555992 2.85434 3.37993 2.40662 4.31570 5.14166 6.11591 7.26334 3,02560 3.61653 2.52695 2.10685 4.66096 5.60441 6.72750 806231 3.86968 3.20714 2.19112 2.653301 2.02582 . 4.88711 5.47357 M 15% 1.00000 1.15000 1.32250 7.68997 8.61276 9.64629 6.13039 9.35762 6.86604 10.76126 2 3.05902 3.51788 4.04556 4.65239 5.35025 6.15279 7.07571 8.13706 12.37545 14.23177 16.36654 H TABLE 2 Future Value of an Annuity of 1 (n) Payments 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 6% 8% 9% 15% 1.00000 1.00000 10% 11% 12% 100000 1.00000 1.00000 1.00000 2.08000 2.09000 2.10000 2.11000 2.12000 2.15000 3.24640 3.27810 331000 3.34210 3.37440 3.47250 4.57313 4.64100 4.70973 4.77933 4.99338 5.98471 6.10510 6.22780 6.35285 6.74238 752334 771561 7.91286 8.11519 8.75374 8,92280 9.20044 9,48717 9.78327 10.08901 11.066801 6.63298 6.80191 7.89829 8.14201 4% 5% 7% 1.00000 1.00000 1.00000 1.0000 2.04000 2.05000 2.06000 2.0700 3.12160 3.15250 3.18360 3.2149 4.37462 4.4399 4.50611 5.63709 5.7507 5.86660 6.97532 7.1533 7.33592 8.39384 8.6540 9.21423 9.54911 9.89747 10.2598 10.63663 11.02847 11.43589 11.85943 12.29969 13.72682 10.58280 11.02656 11.49132 11.9780 12.48756 13.02104 13.57948 14.16397 14.77566 16.78584 12.00611 12.57789 13.18079 13.8164 14.45656 15.19293 15.93743 16.72201 17.54874 20.30372 13.48635 14.20679 14.97164 15.7836 16.64549 17.56029 18.53117 19.56143 20.65458 24.34928 15.02581 15.91713 16.86994 17.8885 18.97713 20.14072 21.38428 22.71319 24.13313 29.00167 16.62684 17.71298 18.88214 20.1406 21.49530 22.95339 24.52271 26.21164 28.02911 3435192 18.29191 19.59863 21.01507 22.5505 24.21492 26.01919 27.97498 30.09492 32.39260 40.50471 20.02359 21.57856 23.27597 25.1290 27.15211 29.36092 31.77248 34.40536 37.27972 47.58041 21.82453 23.65749 25.67253 27.8881 30.32428 33.00340 35.94973 39.18995 42.75328 55.71747 23.69751 25.84037 28.21288 30.8402 33.75023 36.97351 40,54470 44.50084 48.88367 65.07509 25.64541 28.13238 30.90565 33.9990 37.45024 41.30134 45.59917 50.39593 55.74972 75.83636 27.67123 30.53900 33.75999 37.3790 41.44626 46.01846 51.15909 56.93949 6343968 88.21181 33.06595 6.7855 40.9955 45.76196 51.16012 57.27500 64.20283 0524 10244358 4.24646 4.31013 5.41632 5.52563 TABLE 3 Present Value of 1 (44) Periods 1 3 4 5 6 7 8 6 10 11 12 13 14 15 16 17 18 19 20 6% 12% 89286 11% 90090 81162 73119 71178 79719 4% 5% 7% 8% 9% 10% 96154 95238 94340 0.93458 92593 91743 90909 92456 90703 89000 0.87344 85734 84168 82645 88900 86384 83962 0.81630 79383 77218 75132 85480 82270 79209 0.76290 73503 70843 68301 65873 63552 82193 278353 74726 0.71299 68058 64993 62092 59345 56743 70496 0.66634 63017 59627 56447 53464 50663 0.62275 58349 54703 51316 48166 45235 67684 62741 0.58201 54027 50187 46651 43393 40388 32690 59190 054393 46043 26426 55839 42241 52679 0.47509 A2888 38753 044401 0.41496 74622 57175 49718 43233 37994 71068 50025 67556 0.50835 46319 42410 39092 38554 35218 24719 70259 04461 61391 58468 55684 49697 39711 35554 53032 46884 36770 32618 44230 0.38782 34046 41727 0.36245 31524 39365 0:33873 29189 0.31657 27027 029586 25025 0.27615 025842 79031 75992 73069 64958 62460 60057 57748 55526 53391 51337 49363 47464 45639 50507 48102 45811 43630 41552 39573 37689 90599 37136 35034 33051 31180 29925 27454 25187 23107 21199 15049 31863 28966 26333 23939 21763 19785 17986 16351 14864 19449 23171 21455 17843 31728 28584 25751 23199 20000 18829 16963 15282 13768 12403 19090 32197 28748 25668 22917 20462 18270 16312 14564 13004 11611 10367 15% 86957 75614 65752 2144 18691 16253 14133 12289 10687 09293 08061 07027 01190 TABLE 4 Present Value of an Annuity of 1 (n) Payments 4% N345 67690H 2 8 10 11 12 13 14 15 61322 17 18 19 20 5% 96154 95238 1,88609 1.85941 2.77509 2.72325 3.62990 4.45182 5.24214 6.00205 6.73274 7.43533 8.11090 8.76048 9.38507 9.98565 6% 7% 94340 0.93458 1.83339 1.80802 2.67301 2.62432 3.54595 3.38721 3.46511 4.32948 4.21236 4.10020 10.56312 11.11839 5.07569 4.91732 5.78637 5.58238 6.20979 6,46321 7.10782 7.72173 8.30641 8.86325 9.39357 6.80169 7.36009 4.76654 5.38929 5.97130 6.51523 7.02358 7.88687 749867 8.38384 8.85268 9.29498 9.89864 10.37966 9.71225 11.65230 10.83777 10.10590 12.16567 11.27407 10.47726) 11.68959 10.82760 12.65930 11.15812 13.13394 12.08532 13.59033 12.46221 8% 9% 10% 11% 12% 15% 90909 92593 91743 90090 89286 86957 1.78326 1.75911 1.73554 1.71252 1,69005 1.62571 2.57710 3.31213 3.99271 2.53130 2.48685 3.23972 3.16986 2.44371 2.40183 2.28323 3.10245 3.03735 2.85498 3.69590 4.23054 3.88965 3.79079 3.60478 3.35216 11.46992 10.59401 4.62288 5.20637 5.74664 6.24689 6.71008 4.48592 4.35526 5.03295 4.86842 4.71220 5.33493 5.75902 5.53705 514612 7.13896 6.80519 6.14457 6.49506 6.49236 6.81369 5.88923 6.206527 5.93770 5.23371 6.19437 5.42062 7.53608 7.94269 6.42355 5.58315 7.16073 7.10336 6.74987 7.48690 7.90378 8.35765 6.98187 6.62817 5.72448 7.36669 7.78615 8.74547 8.24424 6.81086 5.84737 7.19087 7.60608 9.10791 8.56948 8.06069 6.97399 5.95424 7.37916 7.82371 8.31256 8.85137 9,44665 7.54879 7.11963 6.04716 8.02155 9.12164 8.54363 9.76322 7.70162 7.24967 6.12797 8.75563 8.20141 10.05909 9.37189 7.36578 6.19823 8.36492 7.83929 8.95012 10.33560 9.60360 7.96333 7.46944 625933 981815 9.12855 8.51356 4.11141 3.78448 4.56376 4.16042 5.53482 5.99525 6.41766 4.96764 4.48732 5.32825 4.77158 5.65022 5.01877
