Question
Present and future value tables of $1 at 3% are presented below: N FV $1 PV $1 1 1.03000 0.97087 2 1.06090 0.94260 3 1.09273
Present and future value tables of $1 at 3% are presented below:
| N | FV $1 | PV $1 |
| 1 | 1.03000 | 0.97087 |
| 2 | 1.06090 | 0.94260 |
| 3 | 1.09273 | 0.91514 |
| 4 | 1.12551 | 0.88849 |
| 5 | 1.15927 | 0.86261 |
| 6 | 1.19405 | 0.83748 |
| 7 | 1.22987 | 0.81309 |
| 8 | 1.26677 | 0.78941 |
| 9 | 1.30477 | 0.76642 |
| 10 | 1.34392 | 0.74409 |
| 11 | 1.38423 | 0.72242 |
| 12 | 1.42576 | 0.70138 |
| 13 | 1.46853 | 0.68095 |
| 14 | 1.51259 | 0.66112 |
| 15 | 1.55797 | 0.64186 |
| 16 | 1.60471 | 0.62317 |
Joseph wants to invest in a 6% CD account that compounds semiannually. He would like this account to have a balance of $100,000 four years from now. How much must Joseph deposit to accomplish his goal?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
