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Present and future value tables of $1 at 3% are presented below: N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1
Present and future value tables of $1 at 3% are presented below: N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 3 1.09273 0.91514 4 6 1.12551 0.88849 5 1.15927 0.86261 1.19405 0.83748 3.0909 4.1836 3.71710 2.82861 3.1836 2.91347 4.3091 3.82861 7 1.22987 0.81309 5.3091 4.57971 6.4684 5.41719 7.6625 6.23028 5.4684 4.71710 6.6625 5.57971 7.8923 6.41719 8 1.26677 0.78941 8.8923 7.01969 9.1591 7.23028 9 1.30477 0.76642 10.1591 7.78611 10 1.34392 0.74409 11 1.38423 0.72242 12.8078 11.4639 8.53020 11.8078 10.4639 8.01969 8.78611 9.25262 13.1920 9.53020 12 13 WIN 23 1.42576 0.70138 1.46853 0.68095 14 15 14.1920 15.6178 10.63496 1.51259 0.66112 17.0863 11.29607 1.55797 0.64186 18.5989 16 1.60471 0.62317 9.95400 14.6178 10.25262 16.0863 10.95400 17.5989 11.63496 11.93794 20.1569 12.56110 19.1569 12.29607 20.7616 12.93794 You want to invest $32,000 today to accumulate $36,010 to buy a car. If you can invest at an interest rate of 3% compounded annually, how many years will it take to accumulate the required amount
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