Sylvia wants to take the next five years off work to travel around the world. She estimates her annual cash needs at $30,000 (if she needs more, she will work odd jobs). Sylvia believes she can invest her savings at 10% 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 Sylvia need now to fund her travels? (Round your answer to the nearest whole dollar.) With the 10% interest rate, Sylvia needs Requirement 2. After speaking with a number of banks, Sylvia learns she will only be able to invest her funds at 4%. How much does she need now to fund her travels? (Round your answer to the nearest whole dollar.) With a 4% interest rate, Sylvia would need If Sylvia's savings are earning a lower interest rate (4\%), she will need to save to be able to withdraw $30,000 per year. Future Value of $1 \begin{tabular}{|l|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline Periods & 1% & 2% & 3% & 4% & 5% & 6% & 7% & 8% & 9% & 10% & 12% & 14% & 15% \\ \hline Period 1 & 1.010 & 1.020 & 1.030 & 1.040 & 1.050 & 1.060 & 1.070 & 1.080 & 1.090 & 1.100 & 1.120 & 1.140 & 1.150 \\ Period 2 & 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 \\ Period 3 & 1.030 & 1.061 & 1.093 & 1.125 & 1.158 & 1.191 & 1.225 & 1.260 & 1.295 & 1.331 & 1.405 & 1.482 & 1.521 \\ Period 4 & 1.041 & 1.082 & 1.126 & 1.170 & 1.216 & 1.262 & 1.311 & 1.360 & 1.412 & 1.464 & 1.574 & 1.689 & 1.749 \\ Period 5 & 1.051 & 1.104 & 1.159 & 1.217 & 1.276 & 1.338 & 1.403 & 1.469 & 1.539 & 1.611 & 1.762 & 1.925 & 2.011 \\ Period 6 & 1.062 & 1.126 & 1.194 & 1.265 & 1.340 & 1.419 & 1.501 & 1.587 & 1.677 & 1.772 & 1.974 & 2.195 & 2.313 \\ Period 7 & 1.072 & 1.149 & 1.230 & 1.316 & 1.407 & 1.504 & 1.606 & 1.714 & 1.828 & 1.949 & 2.211 & 2.502 & 2.660 \\ Period 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 \\ Period 9 & 1.094 & 1.195 & 1.305 & 1.423 & 1.551 & 1.689 & 1.838 & 1.999 & 2.172 & 2.358 & 2.773 & 3.252 & 3.518 \\ Period 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 & 4.046 \\ Period 11 & 1.116 & 1.243 & 1.384 & 1.539 & 1.710 & 1.898 & 2.105 & 2.332 & 2.580 & 2.853 & 3.479 & 4.226 & 4.652 \\ Period 12 & 1.127 & 1.268 & 1.426 & 1.601 & 1.796 & 2.012 & 2.252 & 2.518 & 2.813 & 3.138 & 3.896 & 4.818 & 5.350 \\ Period 13 & 1.138 & 1.294 & 1.469 & 1.665 & 1.886 & 2.133 & 2.410 & 2.720 & 3.066 & 3.452 & 4.363 & 5.492 & 6.153 \\ Period 14 & 1.149 & 1.319 & 1.513 & 1.732 & 1.980 & 2.261 & 2.579 & 2.937 & 3.342 & 3.798 & 4.887 & 6.261 & 7.076 \\ Period 15 & 1.161 & 1.346 & 1.558 & 1.801 & 2.079 & 2.397 & 2.759 & 3.172 & 3.642 & 4.177 & 5.474 & 7.138 & 8.137 \\ Period 16 & 1.173 & 1.373 & 1.605 & 1.873 & 2.183 & 2.540 & 2.952 & \end{tabular} Present Value of Ordinarv Annuity of \$1 Catura Ualua nf Mrrinarv Annuitu of S1