Problem 1-11 Calculating Future Value of a Series of Amounts (LO 4] Elaine Romberg prepares her own income tax return each year. A tax preparer charges her $100 for this service. Over a period of 10 years, how much does Elaine save from preparing her own tax return? Assume she can earn 1 percent with a savings certificate. Use Exhibit 18-2. (Round time value factors to 3 decimal places and final answer to 2 decimal places. Omit the "$" sign in your response.) Savings from preparing tax return $ Exhibit 1B-2 Future Value (Compounded Sum) of $1 Paid in at the End of Each Period for a Given Number of Time Periods (an Annuity) (1+1)-1 FV= Period 1% 2% 3% 4% %6 6% 796 896 9% 10% 11% 1 1.000 1.000 1.000 1.000 1.000 1.000 2.010 3.030 1.000 2.020 1.000 2.070 1.000 2.080 2 2.030 3.091 2.040 3.122 2.060 3.184 1.000 2.090 3.278 2.050 3.153 4.310 2.100 3.310 3 3.060 3.215 3.246 4.060 4 4.122 4.184 4.375 5.637 4.440 5.751 1.000 2.110 3.342 4.710 6.228 7.913 9.783 4.246 5.416 6.633 4.641 6.105 5 5.204 5.309 5.101 6.152 5.526 4.506 5.867 7.336 8.923 4.573 5.985 7.523 6 6.308 6.802 6.468 7.662 6.975 8.394 7 7.214 7.898 8.142 9.200 8 8.286 9.549 11.859 9 9.369 8.892 10.159 11.464 9.214 10.583 12.006 9.897 11.491 13.181 14.164 10 11.027 12.578 14.207 10.462 11.567 7.153 8.654 10.260 11.978 13.816 15.784 17.888 20.141 22.550 25.129 7.434 8.583 9.755 10.950 12.169 13.412 14.680 15.974 17.293 18.639 11 11.028 13.021 15.193 17.560 20.141 13.486 12.80S 14.192 12 12.683 15.026 15.917 10.637 12.488 14.487 16.645 18.977 21.495 24.215 27.152 30.324 13 16.627 17.713 22.953 14.972 16.870 18.882 21.015 23.276 25.673 14 18.292 26.019 29.361 13.809 14.947 16.097 17 258 18.430 19.615 15 16 33.003 7.716 9.487 11.436 13.579 15.937 18.531 21.384 24.523 27.975 31.772 35.950 40.5-15 45.599 51.159 57 275 98.317 164.490 4.12.590 1.163.900 17 15.618 17.086 18.599 20.157 21.762 23.414 25.117 26.870 36.159 17.575 20.024 21.825 23.698 25.615 27.671 29.778 33.750 16.722 19.561 22.713 26.212 30.095 34.405 39.190 44.501 50.396 56.939 61.203 114.410 199.020 27.888 30.8.10 33.999 19.599 21.579 23.657 25.810 28.132 30.639 33.006 47.727 66.439 18 19 20.811 20.012 21.412 22.811 24.297 32.030 40.588 60.402 84.579 20.213 30.906 33.760 36.786 51.866 37.450 41.116 15.762 20 22.019 28.243 34.785 36.974 41.301 46.018 51.160 81.701 136.310 337.890 $15.080 25 30 73.106 37.379 40.995 63.249 91.461 199.610 106.630 41.616 66.085 95,026 162.670 113.280 40 75.101 48.886 61.463 120.800 209.350 79.058 161.760 290.310 259.060 673.770 581.830 1.668.800 50 112.800 Exhibit 18-2 (concluded) Period 1296 13% 14% 15% 16% 17% 18% 19% 20% 25% 30% 1 1.000 1.000 1.000 2 2120 2.130 3.407 2.300 3.990 3 3.374 4.779 4 4.850 6.480 6.187 9.043 5 6.353 6 7 12.756 17.583 8 23.858 9 32.015 10 42.619 11 12 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2.140 2.150 2.160 2.170 2.180 2.190 2.200 2.250 3.440 3.473 3.506 3.539 3,572 3.606 3.640 3.813 4.921 4.993 5.066 5.141 5.215 5.291 5.368 5.766 6.610 6.742 6.877 7.014 7.154 7.297 7.442 8.207 8.536 8.754 8.977 9.207 9.442 9.683 9.930 11.259 10.730 11.067 11.414 11.772 12.142 12.523 12.916 15.073 13.233 13.727 14.240 14.773 15.327 15.902 16.499 19.842 16.085 16.786 17.519 18.285 19.086 19.923 20.799 25.802 19.337 20.301 21.321 22.393 23.521 24.701 25.959 33.253 23.045 24.319 25.733 27.200 28.755 30.401 32.150 42.566 27 271 29.002 30.850 32.824 31.931 37.180 39.581 54.208 32.089 31.352 36.786 39.401 42.219 15.244 18.197 68.760 37.581 40.505 43,672 17.103 50.818 51811 59.196 86.919 43.812 47.680 51.660 66.110 60.965 66.261 72.035 109.690 50.980 56.717 60.925 66.619 72.939 79,850 87.112 138.110 59.118 05.075 71.673 78.979 87.068 96.022 105.930 173.610 68.391 75.836 81.141 93. 106 103.740 115.270 128. 120 218.050 78.069 88.212 08.003 110,200 123. 110 138.170 15-1.7.10 273.560 91.026 102.110 116.380 130.030 116.630 165.120 186.690 312.950 181.870 212.700 210.210 202.110 312.000 102.010 171.980 1.05-1.800 356.700 131.750 630.310 617.110 700,950 966.700 1,181.000 3.227.200 1.312.000 1.779.100 2.360.800 3,134.500 1.16.210 5.629,800 7313.900 30,089.000 4,094.600 7.217.700 10.135.000 16.000.000 21.813.000 31,616,000 15,197.000 80.256.000 56.405 74.327 97.625 13 127.910 8.115 8.323 10.089 10.405 12.300 12.757 14.776 15.416 17.519 18.420 20.655 21.814 24.133 25.650 28.029 29.985 32.393 34.883 37 280 40.417 42.753 46.072 48.881 63.739 55.750 61.725 63.440 70.749 72.052 80.947 133,330 165.620 241.330 203.200 767.000 1.013.700 2.400.000 3.459.500 14 15 16 17 18 19 167.290 218.470 285.010 371.520 183.970 630.170 2,3418.800 8.730.000 120,393.000 20 25 30 40 60 165,976.000