Question: If $20,000 is deposited in a savings account paying interest of 4% compounded annually, what amount will be in the account at the end of 5 years?

1 Future Value of $1 Per. 1% 2% 1.010 1.020 2 1.020 1.040 1.030 1.061 4 1.041 1.082 5 1.051 1.104 6 1.062 1.126 7 1.072 1.149 8 1.083 1.172 9 1.094 1.195 101 1.105 1.219 11 1.116 1.243 12 1.127 1.268 13 1.138 1.294 14 1.149 1.319 15 1.161 1.346 16 1.173 1.373 17 1.184 1.400 18 1.196 1.428 19 1.208 1.457 20 1.220 1.486 30 1.348 1.811 3% 1.030 1.061 1.093 1.126 1.159 1.194 1.230 1.267 1.305 1.344 1.384 1.426 1.469 1.513 1.558 1.605 1.653 1.702 1.754 1.806 2.427 4% 1.040 1.082 1.125 1.170 1.217 1.265 1.316 1.369 1.423 1.480 1.539 1.601 1.665 1.732 1.801 1.873 1.948 2.026 2.107 2.191 3.243 5% 1.050 1.103 1.158 1.216 1.276 1.340 1.407 1.477 1.551 1.629 1.710 1.796 1.886 1.980 2.079 2.183 2.292 2.407 2.527 2.653 4.322 6% 1.060 1.124 1.191 1.262 1.338 1.419 1.504 1.594 1.689 1.791 1.898 2.012 2.133 2.261 2.397 2.540 2.693 2.854 3.026 3.207 5.743 7% 8% 1.070 1.080 1.145 1.166 1.225 1.260 1.311 1.360 1.403 1.469 1.501 1.587 1.606 1.714 1.718 1.851 1.838 1.999 1.967 2.159 2.105 2.332 2.252 2.518 2.410 2.720 2.579 2.937 2.759 3.172 2.952 3.426 3.159 3.700 3.380 3.996 3.617 4.316 3.870 4.661 7.612 10.063 9% 1.090 1.188 1.295 1.412 1.539 1.677 1.828 1.993 2.172 2.367 2.580 2.813 3.066 3.342 3.642 3.970 4.328 4.717 5.142 5.604 13.268 10% 11% 12% 1.100 1.110 1.120 1.210 1.232 1.254 1.331 1.368 1.405 1.464 1.518 1.574 1.611 1.685 1.762 1.772 1.870 1.974 1.949 2.076 2.211 2.144 2.305 2.476 2.358 2.558 2.773 2.594 2.839 3.106 2.853 3.152 3.479 3.138 3.498 3.896 3.452 3.883 4.363 3.797 4.310 4.887 4.177 4.785 5.474 4.595 5.311 6.130 5.054 5.895 6.866 5.560 6.544 7.690 6.116 7.263 8.613 6.727 8.062 9.646 17.449 22.892 29.960 13% 1.130 1.277 1.443 1.630 1.842 2.082 2.353 2.658 3.004 3.395 3.836 4.335 4.898 5.535 6.254 7.067 7.986 9.024 10.197 11.523 39.116 14% 1.140 1.300 1.482 1.689 1.925 2.195 2.502 2.853 3.252 3.707 4.226 4.818 5.492 6.261 7.138 8.137 9.276 10.575 12.056 13.743 50.950 15% 1.150 1.323 1.521 1.749 2.011 2.313 2.660 3.059 3.518 4.046 4.652 5.350 6.153 7.076 8.137 9.358 10.761 12.375 14.232 16.367 66.212 40 1.489 2.208 3.262 4.801 7.040 10.286 14.974 | 21.725 31.409 45.259 | 65.001 93.051 132.782 188.884 267.864 1 Future Value of an Ordinary Annuity of $1 per period Per. 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2 2.010 2.020 2.030 2.040 2.050 2.060 2.070 2.080 2.090 2.100 2.110 2.120 3 3.030 3.060 3.091 3.122 3.153 3.184 3.215 3.246 3.278 3.310 3.342 3.374 4 4.060 4.122 4.184 4.246 4.310 4.375 4.440 4.506 4.573 4.641 4.710 4.779 5 5.101 5.204 5.309 5.416 5.526 5.637 5.751 5.867 5.985 6.105 6.228 6.353 6 6.152 6.308 6.468 6.633 6.802 6.975 7.153 7.336 7.523 7.716 7.913 8.115 7.214 7.434 7.662 7.898 8.142 8.394 8.654 8.923 9.200 9.487 9.783 10.089 8 8.286 8.583 8.892 9.214 9.549 9.897 10.260 10.637 11.028 11.436 11.859 12.300 9 9.369 9.755 10.159 10.583 11.027 11.491 11.978 12.488 13.021 13.579 14.164 14.776 10 10.462 10.950 11.464 12.006 12.578 13.181 13.816 14.487 15.193 15.937 16.722 17.549 11 11.567 12.169 12.808 13.486 14.207 14.972 15.784 16.645 17.560 18.531 19.561 20.655 12 12.683 13.412 14.192 15.026 15.917 16.870 17.888 18.977 20.141 21.384 22.713 24.133 13 13.809 14.680 15.618 16.627 17.713 18.882 20.141 21.495 22.953 24.523 26.212 28.029 14 14.947 15.974 17.086 18.292 19.599 | 21.015 22.550 24.215 | 26.019 27.975 30.095 32.393 15| 16.097 17.293 18.599 20.024 21.579 23.276 25.129 27.152 29.361 31.772 34.405 37.280 16 17.258 18.639 20.157 21.825 23.657 25.673 27.888 30.324 33.003 35.950 39.190 42.753 17 18.430 20.012 21.762 23.698 25.840 28.213 30.840 33.750 36.974 40.545 44.501 48.884 18 19.61521.412 23.414 25.645 28.132 30.906 33.999 37.450 41.301 45.599 50.396 55.750 19 20.811 22.841 25.117 27.671 30.539 33.760 37.379 41.446 46.018 51.159 56.939 63.440 20 22.019 | 24.297 26.870 29.778 33.066 36.786 40.995 45.762 51.160 57.275 64.203 72.052 30 34.785 40.568 47.575 56.085 66.439 79.058 94.461 113.283 136.306 164.494 199.021 241.333 32 90.890 40 48.886 60.402 75.401 | 95.026 120.800 154.762 199.635 259.057 337.882 442.593 581.826 767.091 13% 1.000 2.130 3.407 4.850 6.480 8.323 10.405 12.757 15.416 18.420 21.814 25.650 29.985 34.883 40.417 46.672 53.739 61.725 70.749 80.947 14% 1.000 2.140 3.440 4.921 6.610 8.536 10.730 13.233 16.085 19.337 23.045 27.271 32.089 37.581 43.842 50.980 59.118 68.394 78.969 91.025 15% 1.000 2.150 3.473 4.993 6.742 8.754 11.067 13.727 16.786 20.304 24.349 29.002 34.352 40.505 47.580 55.717 65.075 75.836 88.212 102.444 JU 293.199 356.787 434.745 1.013.704 1,342.025 1.779.090