Present and future value tables of $1 at 3% are presented below FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1.03000 e.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 3.0909 2.82861 3.1836 2.91347 4 1.12551 0.88849 4.1836 3.71710 4.3091 3.82861 1.15927 0.86261 5.3091 4.57971 5.4684 4.71710 6 1.19405 0.83748 6.4684 5.41719 6.6625 5.57971 7 1.22987 0.81309 7.6625 6.23028 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 10.4639 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 14 1.51259 0.66112 17.0863 11.29607 17.5989 11.63496 15 1.55797 e.64186 18.5989 11.93794 19.1569 12.29607 16 1.68471 0.62317 20.1569 12.56110 20.7616 12.93794 Debbie has $476,510 accumulated in a 401K plan. The fund is earning a low, but safe, 3 % per year. The withdrawals will take place annually starting today. How soon will the fund be exhausted if Debbie withdraws $50,000 each year? Below are excerpts from time value of money tables for the 8% rate. 1 2 4 6 1.000 1.000 0.926 1.080 1.080 0.926 2 1.926 2.080 0.857 2.246 1.166 1.783 3 2.783 3.246 0.794 3.506 1.260 2.577 4 3.577 4.506 0.735 4.867 1.360 3.312 Column 5 is an interest table for the: Present and future value tables of $1 at 3% are presented below: FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 e.97087 1.0000 0.97087 1.0300 1.00000 2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 1.09273 0.91514 3.0909 2.82861 3.1836 2.91347 1.12551 e.88849 4.1836 3.71710 4.3091 3.82861 1.15927 0.86261 5.3091 4.57971 5.4684 4.71710 6 1.19405 e.83748 6.4684 5.41719 6.6625 5.57971 7 1.22987 0.81309 7.6625 6.23028 7.8923 6.41719 8 1.26677 0.78941 8.8923 7.01969 9.1591 7.23028 1.30477 0.76642 10.1591 7.78611 10.4639 8.01969 10 1.34392 e.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 14 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 Micro Brewery borrows $390,000 to be repaid in equal installments over a period of six years. The loan payments are semiannual with the first payment due in six months, and interest is at 6%. What is the amount of each payment? Present and future value tables of1 at 11% are presented below. PV of $1 FV of $1 PVA of $1 FVA of $1 0.90090 1.11000 0.90090 1.0000 1 2.1100 1.71252 e.81162 1.23210 2 3.3421 0.73119 1.36763 2.44371 0.65873 3.10245 4.7097 1.51807 3.69590 6.2278 e.59345 1.68506 5 4.23054 7.9129 0.53464 1.87041 6 Polo Publishers purchased a multi-color offset press with terms of $80,000 to be paid at the date of purchase, and a noninterest-bearing note requiring payment of $70,000 at the end of each year for three years. The interest rate implicit in the purchase contract is 11 % Polor would record the asset at