S12A-15 (similar to) Question Help Tait is entering high school and is determined to save money for college. Tait feels he can save $4,000 each year for the next four years from his part-time job. If Tait is able to invest at 4 %, how much will he have when he starts college? (Click the icon to view Present Value of S1 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.) (Round your answer to the nearest dollar.) Tait will have S when he starts college. Present Value of $1 Periods 1% 2% 3% 4 % 5% 6% 7% 8% 9% 10 % 12 % 14 % 15 % 18% 18% 20% 0.990 0.980 0.971 0.962 0.952 0.943 0.935 0.925 0.917 0.909 0893 0.877 0.870 0.862 0.847 0.833 2 0.980 0.961 0.943 0.925 0.907 0.890 0.873 0.857 0.842 0.826 0.797 0.769 0.756 0.743 0.718 0.694 0.942 0.915 0.864 0.609 0.971 0.889 0.840 0.816 0.794 0.772 0.751 0.712 0.675 0.658 0.641 0.579 0.961 0.924 0888 0.855 0823 0.792 0.763 0.735 0.708 0.683 0.636 0.592 0.572 0.552 0.516 0.482 5 0.951 0.906 0863 0.822 0.784 0.747 0.713 0.681 0.650 0.621 0.567 0.519 0.497 0.476 0.437 0.402 0.942 0.888 0.837 0.790 0.746 0.705 0.666 0.630 0.596 0.564 0.507 0.456 0.432 0.410 0.370 0.335 0.933 0.871 0.813 0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.452 0.400 0.376 0.354 0.314 0.279 0.853 0.627 0.327 0.266 0.923 0.789 0.731 0.677 0.582 0.540 0.502 0.467 0.404 0.351 0.305 0.233 0.914 0.837 0.766 0.703 0.645 0.592 0.544 0.500 0.460 0.424 0.361 0.308 0.284 0.263 0.225 0.194 10 0.905 0.820 0.744 0.676 0.614 0.558 0.508 0.463 0.422 0.386 0.322 0.270 0.247 0.227 0.191 0.162 0.896 0.804 0.722 0.650 0.585 0.527 0.475 0.429 0.388 0.350 0.287 0.237 0.215 0.195 0.162 0.135 11 0.788 0.701 0.625 0.557 0.497 0.356 0.319 0.208 0.187 12 0.887 0.444 0.397 0.257 0.168 0.137 0.112 0.290 13 0.879 0.773 0.681 0.601 0.530 0.469 0.415 0.368 0.326 0.229 0.182 0.163 0.145 0.116 0.093 0.141 14 0.870 0.758 0.661 0.577 0.505 0.442 0.388 0.340 0.299 0.263 0.205 0.160 0.125 0.099 0.078 0.084 15 0861 0.743 0.642 0.481 0.417 .362 0.275 0.183 0.140 0.123 0.108 16 0.853 0.728 0.623 0.534 0.458 0.394 0.339 0.292 0.252 0.218 0.163 0.123 0.107 0.093 0.071 0.054 17 0.844 0.714 0.605 0.513 0.436 0.371 0.317 0.270 0.231 0.198 0.146 0.108 0.093 0.080 0.060 0.045 0.416 0.081 0.069 0.051 18 0.836 0.700 0.587 0.494 0.350 0.296 0.250 0.212 0.180 0.130 0.095 0.038 0.331 10 0.828 0.686 0.570 0.475 0.396 0.277 0.232 0.194 0.164 0.116 0.083 0.070 0.060 0.043 0.031 0.178 20 0.820 0.673 0.554 0.456 0.377 0.312 0.258 0.215 0.149 0.104 0.073 0.061 0.051 0.037 0.026 21 0.811 0.660 0.538 0439 0.359 0.294 0.242 0.199 0.164 0.135 0.093 0.064 0.053 0.044 0.031 0.022 0.803 0.647 0.422 0.342 0.226 0.150 0.083 0.056 0.038 0.026 22 0.522 0.278 0.184 0.123 0.046 0.018 23 0.795 0.634 0.507 0.406 0.326 0.262 0.211 0.170 0.138 0.112 0.074 0.049 0.040 0.033 0.022 0.015 24 0.788 0.622 0.492 0.390 0.310 0.247 0.197 0.158 0.126 0.102 0.066 0.043 0.035 0.028 0.019 0.013 0.610 25 0.780 0.478 0.375 0.295 0.233 0.184 0.146 0.116 0.092 0.059 0.038 0.030 0.024 0.016 0.010 26 0.772 0.598 0.464 0.361 0.281 0.220 0.172 0.135 0.106 0.084 0.053 0.033 0.026 0.021 0.014 0.009 0.586 0.347 0.207 0.098 0.023 27 0.764 0.450 0.268 0.161 0.125 0.076 0.047 0.029 0.018 0.011 0.007 28 0.757 0.574 0.437 0.333 0.255 0.196 0.150 0.116 0.090 0.069 0.042 0.025 0.020 0.016 0.010 0.006 29 0.749 0.563 0.424 0.321 0.243 0.185 0.141 0.107 0.082 0.063 0.037 0.022 0.017 0.014 0.008 0005 0.412 0.131 0.075 0.015 0.004 30 0.742 0.552 0.308 0.231 0.174 0.099 0.057 0.033 0.020 0.012 0.007 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 0004 0003 0.001 0.001 50 0.608 0.372 0.228 0.14 0.087 0.054 0.034 0.021 0.013 0.009 0.003 0.001 0.001 0.001 Future Value of $1 Periods 1% 2% 3% 4% 5% 8% 7% 3% 9% 10% 12% 14% 15% 1.090 1 1.010 1.020 1,030 1.040 1,050 1.060 1.070 1.080 1.100 1.120 1.140 1.150 1.020 1.040 1.061 1.082 1.103 1.124 1.145 1.166 1.188 1.210 1.254 1.300 1.323 1.061 3 1.030 1.093 1.125 1.158 1.191 1.225 1.260 1.295 1.331 1.405 1.482 1.521 1.464 1.041 1.082 1.126 1.170 1.216 1.262 1.689 4 1.311 1.360 1.412 1.574 1.749 1.104 1.217 1.276 1.403 1.539 1.762 5 1.051 1.159 1.338 1.469 1.611 1.925 2.011 1.194 1.265 1.340 1.772 6 1.062 1.126 1.419 1.501 1.587 1.677 1.974 2.195 2.313 1.316 1.407 1.606 1.828 2.660 7 1.072 1.149 1.230 1.504 1.714 1.949 2.211 2.502 8 1.083 1.172 1.267 1.369 1.477 1.594 1.718 1.851 1.993 2.144 2.476 2.853 3.059 1.195 1.305 1.423 1.551 1.689 1.999 3.518 9 1.094 1.838 2.172 2.358 2.773 3.252 4.046 10 1.105 1.219 1.344 1.480 1.629 1.791 1.967 2.159 2.367 2.594 3.106 3.707 11 1.116 1.243 1.384 1.539 1710 1.898 2.105 2.332 2.580 2.853 3.479 4.226 4.652 1.601 12 1.127 1.268 1.426 1.796 2.012 2.252 2.518 2.813 3.138 3.896 4.818 5.350 13 1.138 1.294 1.469 1.565 1.885 2.133 2.410 2.720 3.066 3.452 4.363 5.492 6.153 1.319 1.513 1.732 1.980 2.937 3.342 3.798 4.887 7.076 14 1.149 2.261 2.579 6.261 1.346 1.801 8.137 15 1.161 1.558 2.079 2.397 2.759 3.172 3.642 4.177 5.474 7.138 1.173 1.373 1.605 1873 2.183 2.540 2.952 3.426 4.595 16 3.970 6.130 8.137 9.358 1.400 1.653 3.159 10.76 17 1.184 1.948 2.292 2.693 3.700 4.328 5.054 6.866 9.276 12.38 18 1.196 1.428 1.702 2.026 2.407 2.854 3.380 3.996 4.717 5.560 7,690 10.58 1.208 1.754 3.617 4.316 8.613 14.23 19 1457 2.107 2.527 3.026 5.142 6.116 12.06 4.661 1.486 2.191 16.37 20 1.220 1806 2.653 3.207 3.870 5.604 6.727 9.646 13.74 4.141 21 1.232 1.516 1.850 2.279 2.786 3.400 5.034 6.109 7.400 10.80 15.67 18.82 22 1.245 1.546 1.916 2.370 2.925 3.604 4.430 5.437 6.659 8.140 12.10 17.85 21.64 23 1.257 1.577 1.974 2.465 3.072 3.820 4.741 5.871 7.258 8.954 13.55 20.36 24.89 1.608 4.049 15.18 28.63 24 1.270 2.033 2.563 3.225 5.072 6.341 7.911 9.850 23.21 1.641 25 1.282 2.094 2.666 3.386 4.292 5.427 6.848 8.623 10.83 17.00 26.46 32.92 1.673 26 1.295 2.157 2.772 3.556 4.549 5.807 7.396 9.399 11.92 19.04 30.17 37.86 27 1.308 1.707 2.221 2.883 3.733 4.822 6.214 7.988 10.25 13.11 21.32 34.39 43.54 1.321 2.999 3.920 5.112 8.627 14.42 39.20 28 1.741 2.288 6.649 11.17 23.88 50.07 1.776 29 1.335 2.357 3.119 4.116 5.418 7.114 9.317 12.17 15.86 26.75 44.69 57.58 17.45 30 1.348 1.811 2.427 3.243 4.322 5.743 7.612 10.06 13.27 29.96 50.95 66.21 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 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 t Present Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 8% 7% 8% 9% 10 % 12% 14% 15% 16% 18% 20% 0.990 0.943 0.935 0.833 0.980 0.971 0.962 0.952 0.926 0.917 0.909 0.893 0.877 0.870 0.862 0.847 1.970 1.942 1.913 1.885 1.859 1.833 1.808 1.783 1.759 1.736 1.690 1.647 1.626 1.605 1.566 1.528 3 2.941 2.884 2.829 2.775 2.723 2.673 2.624 2.577 2.531 2.487 2.402 2.322 2.283 2.246 2.174 2.106 3.808 3.717 3.902 3.630 3.546 3.312 3.037 3.465 3.387 3.240 3.170 2.914 2.855 2.798 2.690 2.589 5 4.853 4.713 4,580 4.452 4.329 4.212 4.100 3.993 3.890 3.791 3.605 3.433 3.352 3.274 3.127 2.991 6 5.795 5.601 5.417 5.242 5.076 4.917 767 4.623 4.486 4.355 4.111 3.889 3.784 3.685 3.498 3.326 7 6.728 6.472 6.230 6.002 5.786 5.582 5.389 5.206 5.033 4.868 4.564 4.288 4.160 4.039 3.812 3.605 7.652 7.325 7.020 8.162 7.786 6.733 6.463 6.210 5.535 5.335 4.968 4.639 4.078 8 5.971 5.747 4.487 4.344 3.837 8.566 7.435 7.108 6.802 6.515 6.247 5.995 5.759 5.328 4.946 4.772 4.607 4.303 4.031 10 9.471 8.983 8.530 8.111 7.722 7.360 7.024 6.710 6.418 6.145 5.650 5.216 5.019 4.833 4.494 4.192 10.368 9.787 11.255 10.575 12.134 11.348 10.635 13.004 12.106 11.296 10.563 13.865 12849 11.938 11.118 10.380 4.327 11 9.253 8.760 8.306 7.887 7.499 7.139 6.805 6.495 5.938 5.453 5.234 5.029 4.656 12 9.954 9.385 8.863 8.384 7.943 7.536 7.161 6.814 6.194 5.660 5.421 5.197 4,793 4.439 13 7.487 5.342 4.910 4.533 9.986 9.394 8.853 8.358 7.904 7.103 6.424 5.842 5.583 14 9.899 9.295 8.745 8.244 7.786 7.367 6.628 6.002 5.724 5.468 5.008 4.611 15 9.712 9.108 8.559 8.061 7.606 6.811 6.142 5.847 5.575 5.092 4.675 14.718 13.578 12.561 11.652 10.838 12.166 11.274 12.659 11.690 16 10.106 9.447 8.851 8.313 7.824 6.974 6.265 5.954 5.669 5.162 4.730 15.562 14.292 13.166 17 10.477 9.763 9.122 8.544 8.022 7.120 6.373 6.047 5.749 5.222 4.775 16.398 14.992 13.754 18 8.756 8.201 7,250 6.128 5.818 5273 4.812 10.828 10.059 9.372 6.467 17.226 15.678 14.324 13.134 12.085 18.046 16.351 14.877 19 11.158 10.336 9.604 8.950 8.365 7.366 6.550 6.198 5.877 5.316 4.844 11.470 10.594 13.590 12.462 20 9.818 9.129 8.514 7.469 6.623 6.259 5.929 5.353 4.870 18.857 17.011 15.415 14.029 | 12.821 19.660 17.658 20.456 18.292 16.444 21.243 18.914 16.936 15.247 13.799 22.023 19.523 17.413 15.622 14.094 21 11.764 10.835 10.017 9.292 8.649 7.562 6.687 6.312 5.973 5.384 4.891 14.451 13.163 12.042 14.857 13.489 11.061 22 15.937 10.201 9442 8.772 7.645 6.743 6.359 6.011 5.410 4.909 8.883 4.925 23 12.303 11.272 10.371 9.580 7.718 6.792 6.399 6.044 5.432 12.550 11.469 24 10.529 9.707 8.985 7.784 6.835 6.434 6.073 5.451 4.937 25 12.783 11.654 10.675 9.823 9.077 7.843 6.873 6.464 6.097 5.467 4.948 22.795 20.121 | 17.877 15.983 14.375 23.560 20.707 24.316 21.281 25.066 21.844 19.188 25.808 22.396 19.600 26 13.003 11.826 10.810 9.929 9.161 7.896 6.906 6.491 6.118 5.480 4.956 16.330 14.643 16.663 14.898 16.984 15.141 17.292 15.372 13.765 27 18.327 13.211 11.987 10.935 10.027 9.237 7.943 6.935 6.514 6.136 5.492 4.964 12.137 6.961 6.152 5.502 4.970 28 18.764 13.406 11.051 10.116 9.307 7.984 6.534 29 13.591 12.278 11.158 10.198 9.370 8.022 6.983 6.551 6.166 5.510 4.975 30 12.409 11.258 10.274 9427 8.055 7.003 6,566 6.177 5.517 4.979 10.757 9.779 32.835 27.355 23.115 19.793 17.159 15.046 40 13.332 11.925 8.244 7.105 6.642 6.233 5.548 4.997 39.196 31.424 25.730 21.482 18.256 15.762 10.962 7.133 6.246 4.999 50 13.801 12.233 9.915 8.304 6.661 5.554 Future Value of Ordinary Annuity of $1 4 % 12 % Periods 1% 2% 3% 5% 8% 7% 8% 9% 10% 14% 15% 1,000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2.010 2.020 2.040 2.060 2.080 2.090 2.100 2.140 2.150 2.030 2.050 2.070 2.120 3.030 3.060 3.091 3.122 3.153 3.184 3.215 3.246 3.278 3.310 3.374 3.440 3.473 4.060 4.310 4.375 4.440 4.506 4.573 4.779 4.921 4.993 4 4.122 4.184 4.246 4.641 5.309 5.526 5.867 5.985 6.742 5.101 5.204 5.416 5.637 5.751 6.105 6.353 6.610 6.152 6.308 6.468 6.633 6.802 6.975 7,153 7.336 7.716 8.115 8.536 6 7,523 8.754 7.662 11.07 7 7.214 7.434 7.898 8.142 8.394 8.654 8.923 9.200 9.487 10.09 10.73 8.286 8.583 8.892 9.214 9.549 9.897 10.260 10.64 11.03 11.44 12.30 13.23 13.73 9.755 10.16 10.58 11.03 14.78 16.09 C 9.369 11.49 11.98 12.49 13.02 13.58 16.79 10 19.34 10.46 10.95 11.46 12.01 12.58 13.18 13.82 14.49 15.19 15.94 17.55 20.30 11 11.57 12.17 12.81 13.49 14.21 14.97 15.78 16.65 17.56 18.53 20.65 23.04 24.35 12 12.68 13.41 14.19 15.03 15.92 16.87 17.89 18.98 20.14 21.38 24.13 27.27 29.00 13 13.81 14.68 15.62 16.63 17.71 18.88 20.14 21.50 22.95 24.52 28.03 32.09 34.35 14.95 15.97 17.09 18.29 19.60 40.50 14 21.02 22.55 24 21 26.02 27.98 32.39 37.58 17.29 47.58 15 16.10 18.60 20.02 21.58 23.28 25.13 27.15 29.36 31.77 37.28 43.84 17.26 21.82 23.66 27.89 33.00 35.95 50.98 16 18.64 20.16 25.67 30.32 42.75 55.72 17 18.43 20.01 21.76 23.70 25.84 28.21 30.84 33.75 36.97 40.54 48.88 59.12 65.08 18 19.61 21.41 23.41 25.65 28.13 30.91 34.00 37.45 41.30 45.60 55.75 68.39 75.84 20.81 19 78.97 22.84 25.12 27.67 30.54 33.76 37.38 41.45 46.02 51.16 63.44 88.21 20 41.00 91.02 22.02 24.30 26.87 29.78 33.07 36.79 45.76 51.16 57.28 72.05 102.4 44.87 23.24 25.78 28.68 31.97 35.72 39.99 50.42 55.76 64.00 81.70 104.8 118.8 38.51 49.01 22 24.47 27.30 30.54 34.25 43.39 55.46 62.87 71.40 92.50 120.4 137.6 23 25.72 28.85 32.45 36.62 41.43 47.00 53.44 60.89 69.53 79.54 104.6 138.3 159.3 39.08 184.2 24 26.97 30.42 34.43 44,50 50.82 58.18 66.76 76.79 88.50 118.2 158.7 25 28.24 32.03 36.46 41.65 47.73 54.85 63.25 73.11 84.70 98.35 133.3 181.9 212.8 26 29.53 33.67 38.55 44.31 51.11 59.16 68.68 79.95 93.32 109.2 150.3 208.3 245.7 27 30.82 35.34 40.71 47.08 54.67 63.71 74.48 87.35 102.7 121.1 169.4 238.5 283.6 32.13 37.05 68.53 80.70 113.0 134 2 28 42.93 49.97 58.40 95.34 190.7 272.9 327.1 29 33.45 38.79 45.22 52.97 62.32 73.64 87.35 104.0 124.1 148.6 214.6 312.1 377.2 30 34.78 40.57 47.58 55.08 65.44 79.06 94.46 113.3 136.3 164.5 241.3 356.8 434.7 40 48.89 60.40 75.40 95.03 120.8 154.8 199.6 259.1 337.9 442.6 767.1 1,342 1,779 50 64.46 84.58 112.8 1527 209.3 290.3 406.5 573.8 815.1 1,164 2,400 4,995 7,218