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Present and future value tables of $1 at 3% are presented below. N FV $1 PV $1 FVA $1 H 1.03000 0.97087 1.0000 PVA
Present and future value tables of $1 at 3% are presented below. N FV $1 PV $1 FVA $1 H 1.03000 0.97087 1.0000 PVA $1 0.97087 FVAD $1 PVAD $1 1.0300 1.00000 2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 3 1.09273 0.91514 456 1.12551 0.88849 1.15927 0.86261 1.19405 0.83748 7 1.22987 0.81309 3.0909 4.1836 5.3091 2.82861 3.71710 4.57971 5.4684 6.4684 5.41719 7.6625 6.23028 8 1.26677 0.78941 8.8923 7.01969 3.1836 2.91347 4.3091 3.82861 4.71710 6.6625 5.57971 7.8923 6.41719 9.1591 7.23028 9 1.30477 0.76642 10.1591 7.78611 10.4639 8.01969 10 1.34392 0.74409 11.4639 8.53020 11.8078 8.78611 11 1.38423 0.72242 12.8078 9.25262 13.1920 9.53020 12 1.42576 0.70138 14.1920 9.95400 14.6178 10.25262 13 1.46853 0.68095 15.6178 10.63496) 16.0863 10.95400 1.51259 0.66112 17.0863 11.29607 17.5989 11.63496 15 1.55797 0.64186 18.5989 11.93794 19.1569 12.29607 16 1.60471 0.62317 20.1569 12.56110 20.7616 12.93794 2345 14 Shane wants to invest money in a 6% CD account that compounds semiannually. Shane would like the account to have a balance of $110,000 4-years from now. How much must Shane deposit to accomplish his goal?
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