Reference Present Value of $1 Periods Period 1 Period 2 Period 3 Period 4 Period 5 1% 2% 3% 4% 5% 0.990 0.9800.971 0.962 0.952 0.980 0.961 0.943 0.925 0.907 0.971 0.9420.915 0.889 0.864 0.961 0.924 0.888 0.855 0.823 0.951 0.906 0.863 0.822 0.784 6% 0.943 0.890 0.840 0.792 0.747 7% 0.935 0.873 0.816 0.763 0.713 8% 0.926 0.857 0.794 0.735 0.681 9% 10% 0.917 0.909 0.842 0.826 0.772 0.751 0.708 0.683 0.650 0.621 12% 0.893 0.797 0.712 0.636 0.567 14% 0.877 0.769 0.675 0.592 0.519 15% 16% 0.870 0.862 0.756 0.743 0.658 0.641 0.572 0.552 0.497 0.476 18% 20% 0.847 0.833 0.7180.694 0.609 0.579 0.516 0.482 0.437 0.402 Period 6 Period 7 Period 8 Period 9 Period 10 0.942 0.888 0.837 0.790 0.746 0.933 0.871 0.813 0.760 0.711 0.923 0.853 0.789 0.731 0.677 0.914 0.837 0.766 0.703 0.645 0.905 0.820 0.744 0.676 0.614 0.705 0.665 0.627 0.592 0.558 0.666 0.623 0.582 0.544 0.508 0.630 0.583 0.540 0.500 0.463 0.596 0.564 0.507 0.456 0.432 0.410 0.547 0.513 0.452 0.400 0.376 0.354 0.502 0.467 0.404 0.351 0.327 0.305 0.460 0.424 0.361 0.308 0.284 0.263 0.422 0.386 0.322 0.270 0.247 0.227 0.370 0.335 0.314 0.279 0.266 0.233 0.225 0.194 0.191 0.162 Period 11 0.896 0.8040.722 0.650 0.585 Period 12 0.887 0.788 0.701 0.625 0.557 Period 13 0.879 0.773 0.681 0.601 0.530 Period 14 0.870 0.758 0.661 0.577 0.505 Period 15 0.861 0.743 0.642 0.555 0.481 0.527 0.497 0.469 0.442 0.417 0.475 0.444 0.415 0.388 0.362 0.429 0.397 0.368 0.340 0.315 0.388 0.350 0.356 0.319 0.326 0.290 0.299 0.263 0.275 0.239 0.287 0.257 0.229 0.205 0.183 0.237 0.215 0.195 0.208 0.187 0.168 0.182 0.163 0.145 0.160 0.141 0.125 0.140 0.123 0.108 0.162 0.135 0.137 0.112 0.116 0.093 0.099 0.078 0.084 0.065 Period 16 Period 17 Period 18 Period 19 Period 20 0.853 0.7280.623 0.844 0.714 0.605 0.836 0.700 0.587 0.828 0.686 0.570 0.820 0.673 0.554 0.534 0.458 0.394 0.513 0.436 0.371 0.494 0.416 0.350 0.475 0.396 0.331 0.456 0.377 0.312 0.339 0.317 0.296 0.277 0.258 0.292 0.270 0.250 0.232 0.215 0.252 0.218 0.231 0.198 0.212 0.180 0.194 0.164 0.178 0.149 0.163 0.146 0.130 0.116 0.104 0.123 0.107 0.093 0.108 0.093 0.080 0.095 0.081 0.069 0.083 0.070 0.060 0.073 0.061 0.051 0.071 0.054 0.060 0.045 0.051 0.038 0.043 0.031 0.037 0.026 Period 21 0.811 0.660 0.538 0.439 0.359 Period 22 0.803 0.647 0.522 0.422 0.342 Period 23 0.795 0.634 0.507 0.4060.326 Period 24 0.788 0.622 0.492 0.390 0.310 Period 25 0.780 0.610 0.478 0.375 0.295 0.294 0.278 0.262 0.247 0.233 0.242 0.226 0.211 0.197 0.184 0.199 0.184 0.170 0.158 0.146 0.164 0.135 0.093 0.150 0.123 0.083 0.138 0.112 0.074 0.126 0.102 0.066 0.116 0.092 0.059 0.064 0.056 0.049 0.043 0.038 0.053 0.044 0.046 0.038 0.040 0.033 0.035 0.028 0.030 0.024 0.031 0.022 0.026 0.018 0.022 0.015 0.019 0.013 0.0160.010 Period 26 0.772 0.598 0.464 0.361 0.281 Period 27 0.764 0.586 0.450 0.347 0.268 Period 28 0.757 0.574 0.437 0.333 0.255 Period 29 0.749 0.563 0.424 0.321 0.243 Period 30 0.742 0.5520.412 0.308 0.231 0.220 0.207 0.196 0.185 0.174 0.172 0.161 0.150 0.141 0.131 0.135 0.125 0.116 0.107 0.099 0.106 0.084 0.098 0.076 0.090 0.069 0.082 0.063 0.075 0.057 0.053 0.047 0.042 0.037 0.033 0.033 0.026 0.021 0.029 0.023 0.018 0.026 0.0200.016 0.022 0.017 | 0.014 0.020 0.015 0.012 0.014 0.009 0.011 0.007 0.010 0.006 0.008 0.005 0.007 0.004 Period 40 0.672 0.453 0.307 0.208 0.142 0.097 0.067 0.046 0.032 0.022 0.011 0.005 0.004 0.003 0.001 0.001 Period 50 0.608 0.372 0.228 0.141 0.087 0.054 0.034 0.021 0.013 0.009 0.003 0.001 0.001 0.001 Print Done Reference rence - X Future Value of $1 10% Periods Period 1 Period 2 Period 3 Period 4 Period 5 1% 1.010 1.020 1.030 1.041 1.051 2% 1.020 1.040 1.061 1.082 1.104 3% 4% 1.030 1.040 1.061 1.082 1.093 1.125 1.126 1.170 1.159 1.217 5% 6% 7% 1.050 1.060 1.070 1.103 1.1241.145 1.158 1.191 1.225 1.216 1.262 1.311 1.276 1.338 1.403 8% 9% 1.080 1.090 1.100 1.166 1.1881.210 1.260 1.295 | 1.331 1.360 1.412 1.464 1.469 1.539 1.611 12% 1.120 1.254 1.405 1.574 1.762 14% 15% 1.140 1.150 1.300 1.323 1.482 1.521 1.689 1.749 1.925 2.011 Period 6 Period 7 Period 8 Period 9 Period 10 1.062 1.072 1.083 1.094 1.105 1.126 1.149 1.172 1.195 1.219 1.194 1.230 1.267 1.305 1.344 1.265 1.316 1.369 1.423 1.480 1.340 1.419 1.501 1.587 1.677 1.772 1.407 1.5041.606 1.714 1.828 1.949 1.477 1.594 1.718 1.851 | 1.993 2.144 1.551 | 1.689 1.838 1.999 2.172 2.358 1.629 1.791 1.967 | 2.159 2.367 2.594 1.974 2.195 2.313 2.211 2.502 2.660 2.476 2.853 3.059 2.773 3.252 3.518 3.106 3.707 4.046 Period 11 Period 12 Period 13 Period 14 Period 15 1.116 1.127 1.138 1.149 1.161 1.243 1.268 1.294 1.319 1.346 1.384 1.539 1.710 1.898 2.105 2.332 2.580 2.853 1.426 1.601 1.796 2.012 2.252 2.518 2.813 3.138 1.469 1.665 1.886 2.133 | 2.410 2.720 3.066 3.452 1.513 1.732 1.980 2.261 2.579 2.937 3.342 3.798 1.558 1.801 2.079 2.397 2.759 3.172 3.642 4.177 3.479 4.226 4.652 3.896 4.818 5.350 4.363 5.492 6.153 4.887 6.261 | 7.076 5.474 | 7.138 8.137 Period 16 Period 17 Period 18 Period 19 Period 20 1.173 1.184 1.196 1.208 1.220 1.373 1.400 1.428 1.457 1.486 1.605 1.873 2.183 2.540 2.952 3.426 3.970 4.595 1.653 1.948 2.292 2.693 3.1593.700 4.328 5.054 1.702 2.026 2.407 2.854 3.380 3.996 4.717 5.560 1.754 2.107 2.527 3.026 3.617 4.316 5.1426.116 1.806 2.191 2.653 3.207 3.870 4.661 5.604 6.727 6.130 8.137 9.358 6.866 9.276 10.76 7.690 10.58 12.38 8.613 12.06 14.23 9.646 13.74 16.37 Period 21 Period 22 Period 23 Period 24 Period 25 1.232 1.245 1.257 1.270 1.282 1.516 1.546 1.577 1.608 1.641 1.860 2.279 2.786 3.400 4.1415.034 6.109 7.400 1.916 2.370 2.925 3.604 4.430 5.437 6.659 8.140 1.9742.465 3.0723.820 4.741 5.871 7.258 8.954 2.033 2.563 3.225 4.049 5.0726.341 7.911 9.850 2.094 2.666 3.386 4.292 5.427 6.848 8.623 10.83 10.80 15.67 18.82 12.10 17.86 21.64 13.55 20.36 24.89 15.18 23.21 28.63 17.00 26.46 | 32.92 Period 26 Period 27 Period 28 Period 29 Period 30 1.295 1.308 1.321 1.335 1.348 1.673 1.707 1.741 1.776 1.811 2.157 2.772 3.556 4.549 5.807 | 7.396 9.399 11.92 2.221 2.883 3.733 4.822 6.214 | 7.988 10.25 13.11 2.288 2.999 3.920 5.112 6.649 8.627 11.17 14.42 2.357 3.119 4.116 5.418 7.114 9.317 12.17 15.86 2.427 3.243 4.322 5.743 7.612 10.06 13.27 | 17.45 19.04 30.17 37.86 21.32 34.3943.54 23.88 39.20 50.07 26.75 44.69 57.58 29.96 50.9566.21 Period 40 1.489 2.208 3.262 4.801 7.040 10.29 14.97 21.72 31.41 45.26 93.05 188.9 | 267.9 Period 50 1.645 2.692 4.384 7.107 11.47 18.42 29.46 46.90 74.36 117.4 289.0 700.2 1,084 Print Done i Reference Present Value of Ordinary Annuity of $1 Periods Period 1 Period 2 Period 3 Period 4 Period 5 1% 0.990 1.970 2.941 3.902 4.853 2% 0.980 1.942 2.884 3.808 4.713 3% 0.971 1.913 2.829 3.717 4.580 4% 5% 6% 7% 8% 9% 10% 0.962 0.952 0.943 0.935 0.926 0.917 0.909 1.886 1.859 1.833 1.808 1.783 1.759 1.736 2.775 2.723 2.673 2.624 2.577 2.531 2.487 3.630 3.546 3.465 3.387 3.312 3.240 3.170 4.452 4.329 4.212 4.100 3.993 3.890 3.791 12% 14% 0.893 0.877 1.690 1.647 2.402 2.322 3.037 2.914 3.605 3.433 15% 0.870 1.626 2.283 2.855 3.352 16% 0.862 1.605 2.246 2.798 3.274 18% 20% 0.847 0.833 1.566 1.528 2.174 2.106 2.690 2.589 3.127 2.991 Period 6 Period 7 Period 8 Period 9 Period 10 5.795 5.601 6.728 6.472 7.652 7.325 8.566 8.162 9.471 8.983 5.417 6.230 7.020 7.786 8.530 5.242 5.076 4.917 4.767 4.623 4.4864.355 6.002 5.786 5.582 5.389 5.206 5.033 4.868 6.733 6.463 6.210 5.971 5.747 5.535 5.335 7.435 | 7.108 6.802 6.515 6.247 5.995 5.759 8.111 7.722 7.360 7.0246.710 6.418 6.145 4.111 3.889 4.564 4.288 4.968 4.639 5.328 4.946 5.650 5.216 3.784 4.160 4.487 4.772 5.019 3.685 4.039 4.344 4.607 4.833 3.498 3.326 3.812 3.605 4.078 3.837 4.303 4.031 4.494 4.192 Period 11 Period 12 Period 13 Period 14 Period 15 10.368 9.787 9.253 8.760 8.306 7.887 7.499 11.255 10.575 9.954 9.385 8.863 8.384 7.943 12.134 11.348 10.635 | 9.986 9.394 8.853 8.358 13.004 12.106 11.296 10.563 9.899 9.295 8.745 13.865 12.849 11.938 11.118 10.380 9.712 9.108 7.139 6.805 6.495 7.536 | 7.161 6.814 7.904 7.487 7.103 8.244 | 7.786 7.367 8.559 8.061 7.606 5.938 6.194 6.424 6.628 6.811 5.453 5.660 5.842 6.002 6.142 5.234 5.421 5.583 5.724 5.847 5.029 5.197 5.342 5.468 5.575 4.656 4.327 4.793 4.439 4.910 4.533 5.008 4.611 5.092 4.675 Period 16 Period 17 Period 18 Period 19 Period 20 14.718 | 13.578 12.561 11.652 10.838 10.106 9.447 8.851 8.313 7.824 15.562 14.292 13.166 12.166 11.274 10.477) 9.763 9.122 8.544 8.022 16.398 14.992 | 13.754 12.659 11.690 10.828 10.059 9.372 8.756 8.201 17.226 15.678 14.324 13.134 12.085 11.158 10.336 9.604 8.950 8.365 18.046 16.351 14.877 13.590 12.462 11.470 10.594 9.818 9.129 8.514 6.974 7.120 7.250 7.366 7.469 6.265 6.373 6.467 6.550 6.623 5.954 6.047 6.128 6.198 6.259 5.669 5.749 5.818 5.877 5.929 5.1624.730 5.222 4.775 5.273 4.812 5.316 4.844 5.353 4.870 Period 21 18.857 17.011 15.415 14.029 12.821 11.764 10.836 10.0179.292 8.649 7.562 6.687 Period 22 19.660 17.658 15.937 14.451 13.163 12.042 11.061 10.2019.442 8.772 | 7.645 6.743 Period 23 20.456 18.292 16.444 14.857 13.489 12.303) 11.272 10.371 9.580 8.883 7.718 6.792 Period 24 21.24318.914 16.936 15.247 13.799 12.550 11.469 10.529 9.707 8.985 7.784 6.835 Period 25 22.023 19.523 17.41315.622 14.094 12.783 11.654 10.675 9.8239.077 7.843 6.873 6.312 6.359 6.399 6.434 6.464 5.973 6.011 6.044 6.073 6.097 5.384 4.891 5.410 4.909 5.432 4.925 5.451 4.937 5.467 4.948 Period 26 22.795 20.12117.87715.983 14.375 13.003 11.826 10.8109.929 9.161 Period 27 23.560 20.707 18.327 16.330 14.643 13.211 11.987 10.935 10.027 9.237 Period 28 24.316 21.28118.764 16.663 14.898 13.406 12.13711.051 10.116 9.307 Period 29 25.066 21.844 | 19.188 16.984 15.141 13.591 12.278 11.158 10.198| 9.370 Period 30 25.808 22.396 | 19.600 17.292 15.372 13.765 12.409 | 11.258 10.274 9.427 7.896 6.906 7.943 6.935 7.984 6.961 8.022 6.983 8.055 7.003 6.491 6.514 6.534 6.551 6.566 6.118 6.136 6.152 6.166 6.177 5.480 4.956 5.492 4.964 5.502 4.970 5.510 4.975 5.517 4.979 Period 40 32.835 27.355 23.115 19.793 17.159|15.046 13.332 | 11.925 10.757 9.779 8.244 7.105 6.642 6.233 5.548 4.997 Period 50 39.196 31.424 25.730 21.482 18.256 15.762 13.801 | 12.233 10.962 9.915 8.304 7.133 6.661 6.246 5.554 4.999 Print Done Reference eference Future Value of Ordinary Annuity of $1 Periods Period 1 Period 2 Period 3 Period 4 Period 5 1% 2% 3% 4% 5% 1.000 1.000 1.000 1.000 1.000 2.010 2.020 2.030 2.040 2.050 3.030 3.060 3.091 3.122 3.153 4.060 4.122 4.184 4.246 4.310 5.101 5.204 5.309 5.416 5.526 6% 1.000 2.060 3.184 4.375 5.637 7% 8% 9% 10% 12% 14% 15% 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2.070 2.080 2.090 2.100 2.120 2.140 2.150 3.215 3.246 3.278 3.310 3.374 3.440 3.473 4.440 4.506 4.573 4.641 4.779 4.921 4.993 5.751 5.867 5.9856.105 6.353 6.610 6.742 Period 6 Period 7 Period 8 Period 9 Period 10 6.152 6.308 6.468 6.633 6.802 7.214 7.434 7.662 7.898 8.142 8.286 8.583 8.892 9.214 9.549 9.369 9.755 | 10.16 10.58 11.03 10.46 10.95 | 11.46 | 12.01 | 12.58 6.975 7.153 7.336 | 7.523 7.716 8.115 8.536 8.754 8.394 8.654 8.923 9.200 9.487 10.09 10.73 11.07 9.897 10.260 10.64 11.03 11.44 12.30 13.23 13.73 11.49 11.98 12.49 13.02 13.58 14.78 16.09 16.79 13.18 13.82 14.49 15.1915.94 17.55 | 19.34 | 20.30 Period 11 Period 12 Period 13 Period 14 Period 15 11.57 12.17 12.81 | 13.49 14.21 12.68 | 13.41 | 14.19 15.03 15.92 13.81 14.68 15.62 16.63 17.71 14.95 | 15.97 | 17.09 | 18.29 | 19.60 16.10 17.29 18.60 | 20.02 21.58 14.97 16.87 18.88 21.02 23.28 15.78 16.65 | 17.56 18.53 20.65 23.04 24.35 17.89 18.98 20.14 21.38 24.13 27.27 | 29.00 20.14 21.50 22.95 24.52 28.03 32.0934.35 22.55 24.21 26.02 27.98 32.39 37.58 40.50 25.13 27.15 29.3631.77 37.28 43.84 | 47.58 Period 16 Period 17 Period 18 Period 19 Period 20 17.26 18.64 20.16 21.82 23.66 18.43 20.01 21.76 23.70 25.84 19.61 21.41 23.41 25.65 28.13 20.81 22.84 25.12 27.67 30.54 22.02 24.30 26.87 29.7833.07 25.67 28.21 30.91 33.76 36.79 27.89 30.32 33.00 35.95 42.75 50.98 55.72 30.84 33.75 36.97 40.54 48.88 59.12 65.08 34.00 37.45 41.30 45.60 55.75 68.39 75.84 37.38 41.45 46.02 51.16 63.44 78.97 88.21 41.00 45.76 51.16 57.28 72.05 91.02 102.4 Period 21 Period 22 Period 23 Period 24 Period 25 23.24 25.78 28.68 31.97 35.72 24.47 27.30 30.54 34.25 38.51 25.72 28.85 32.45 | 36.62 41.43 26.97 30.42 34.43 39.08 44.50 28.24 32.03 36.46 41.65 47.73 39.99 43.39 47.00 50.82 54.86 44.87 50.42 56.76 64.00 81.70 104.8 118.8 49.01 55.46 62.87 71.40 92.50 120.4 137.6 53.44 60.89 69.53 79.54 104.6 138.3 159.3 58.18 66.76 | 76.79 | 88.50 118.2158.7 | 184.2 63.25 73.11 84.70 98.35 133.3 181.9 212.8 Period 26 Period 27 Period 28 Period 29 Period 30 29.53 33.67 38.55 44.31 51.11 59.16 30.82 35.34 40.71 47.08 54.67 63.71 32.13 37.05 42.93 49.97 | 58.40 68.53 33.45 38.79 45.22 52.97 62.32 73.64 34.78 40.57 47.58 56.08 66.44 79.06 68.68 79.95 93.32 109.2 150.3 208.3 245.7 74.48 87.35 | 102.7 121.1 169.4 238.5 283.6 80.70 95.34 113.0 134.2 190.7 272.9 327.1 87.35 104.0 | 124.1 148.6 214.6 312.1377.2 94.46 113.3 136.3 164.5 241.3 356.8 434.7 Period 40 48.8960.40 75.40 95.03 120.8 154.8 199.6 259.1 337.9 442.6 767.1 | 1,342 1,779 406.5 573.8 815.1 1,164 2,400 4,995 | 7,218 Period 50 64.46 84.58 | 112.8 | 152.7 209.3 290.3 Print Done Question Help Sarah wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $28,000 (if she needs more, she will work odd jobs). Sarah believes she can invest her savings at 8% until she depletes her funds. (Click the icon to view Present Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of $1 table.) Read the requirements. Requirement 1. How much money does Sarah need now to fund her travels? (Round your answer to the nearest whole dollar.) With the 8% interest rate, Sarah needs Requirement 2. After speaking with a number of banks, Sarah learns she will only be able to invest her funds at 6%. How much does she need now to fund her travels? (Round your answer to the nearest whole dollar.) With a 6% interest rate, Sarah would need If Sarah's savings are earning a lower interest rate (6%), she will need to save to be able to withdraw $28,000 per year. less more