TABLE 1 Future Value of $1 FV = $1(1 + i)" ni 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 20.0% 1 1.01000 1.01500 1.02000 1.02500 1.03000 1.03500 1.04000 1.04500 1.05000 1.05500 1.06000 1.07000 1.08000 1.09000 1.10000 1.11000 1.12000 1.20000 2 1.02010 1.03022 1.04040 1.05063 1.06090 1.07123 1.08160 1.09203 1.10250 1.11303 1.12360 1.14490 1.16640 1.18810 1.21000 1.23210 1.25440 1.44000 3 1.03030 1.04568 1.06121 1.07689 1.09273 1.10872 1.12486 1.14117 1.15763 1.17424 1.19102 1.22504 1.25971 1.29503 1.33100 1.36763 1.40493 1.72800 4 1.04060 1.06136 1.08243 1.10381 1.12551 1.14752 1.16986 1.19252 1.21551 1.23882 1.26248 1.31080 1.36049 1.41158 1.46410 1.51807 1.57352 2.07360 5 1.05101 1.07728 1.10408 1.13141 1.15927 1.18769 1.21665 1.24618 1.27628 1.30696 1.33823 1.40255 1.46933 1.53862 1.61051 1.68506 1.76234 2.48832 6 1.06152 1.09344 1.12616 1.15969 1.19405 1.22926 1.26532 1.30226 1.34010 1.37884 1.41852 1.50073 1.58687 1.67710 1.77156 1.87041 1.97382 2.98598 1.50363 1.60578 1.71382 1.82804 1.94872 2.07616 2.21068 3.58318 1.59385 1.71819 1.85093 1.99256 2.14359 2.30454 2.47596 4.29982 7 1.07214 1.10984 1.14869 1.18869 1.22987 1.27228 1.31593 1.36086 1.40710 1.45468 8 1.08286 1.12649 1.17166 1.21840 1.26677 1.31681 1.36857 1.42210 1.47746 1.53469 9 1.09369 1.14339 1.19509 1.24886 1.30477 1.36290 1.42331 1.48610 1.55133 1.61909 10 1.10462 1.16054 1.21899 1.28008 1.34392 1.41060 1.48024 1.55297 1.62889 1.70814 1.68948 1.83846 1.99900 2.17189 2.35795 2.55804 2.77308 5.15978 1.79085 1.96715 2.15892 2.36736 2.59374 2.83942 3.10585 6.19174 11 1.11567 1.17795 1.24337 1.31209 1.38423 1.45997 1.53945 1.62285 1.71034 1.80209 1.89830 2.10485 2.33164 2.58043 2.85312 3.15176 3.47855 7.43008 12 1.12683 1.19562 1.26824 1.34489 1.42576 1.51107 1.60103 1.69588 1.79586 1.90121 2.01220 2.25219 2.51817 2.81266 3.13843 3.49845 3.89598 8.91610 13 1.13809 1.21355 1.29361 1.37851 1.46853 1.56396 1.66507 1.77220 1.88565 2.00577 2.13293 2.40985 2.71962 3.06580 3.45227 3.88328 4.36349 10.69932 14 1.14947 1.23176 1.31948 1.41297 1.51259 1.61869 1.73168 1.85194 1.97993 2.11609 2.26090 2.57853 2.93719 3.34173 3.79750 4.31044 4.88711 12.83918 15 1.16097 1.25023 1.34587 1.44830 1.55797 1.67535 1.80094 1.93528 2.07893 2.23248 2.39656 2.75903 3.17217 3.64248 4.17725 4.78459 5.47357 15.40702 16 1.17258 1.26899 1.37279 1.48451 1.60471 1.73399 1.87298 2.02237 2.18287 2.35526 2.54035 2.95216 3.42594 3.97031 4.59497 5.31089 6.13039 18.48843 17 1.18430 1.28802 1.40024 1.52162 1.65285 1.79468 1.94790 2.11338 2.29202 2.48480 2.69277 3.15882 3.70002 4.32763 5.05447 5.89509 6.86604 22.18611 18 1.19615 1.30734 1.42825 1.55966 1.70243 1.85749 2.02582 2.20848 2.40662 2.62147 2.85434 3.37993 3.99602 4.71712 5.55992 6.54355 7.68997 26.62333 19 1.20811 1.32695 1.45681 1.59865 1.75351 1.92250 2.10685 2.30786 2.52695 2.76565 3.02560 3.61653 4.31570 5.14166 6.11591 7.26334 8.61276 31.94800 20 1.22019 1.34686 1.48595 1.63862 1.80611 1.98979 2.19112 2.41171 2.65330 2.91776 3.20714 3.86968 4,66096 5.60441 6.72750 8.06231 9.64629 38.33760 21 1.23239 1.36706 1.51567 1.67958 1.86029 2.05943 2.27877 2.52024 2.78596 3.07823 3.39956 4.14056 5.03383 6.10881 7.40025 8.94917 10.80385 46.00512 25 1.28243 1.45095 1.64061 1.85394 2.09378 2.36324 2.66584 3.00543 3.38635 3.81339 4.29187 5.42743 6.84848 8.62308 10.83471 13.58546 17.00006 95.39622 30 1.34785 1.56308 1.81136 2.09757 2.42726 2.806793.24340 3.74532 4.32194 4.98395 5.74349 7.61226 10.06266 13.26768 17.44940 22.89230 29.95992 237.37631 40 1.48886 1.81402 2.20804 2.68506 3.26204 3.95926 4.80102 5.81636 7.03999 8.51331 10.28572 14.97446 21.72452 31.40942 45.25926 65.00087 93.05097 1469.77160 PV = TABLE 2 Present Value of $1 $1 (1+i)" wi 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 0.0% 0.0% 11.0% 12.0% 20.0% 10.99010 0.98522 0.98039 0.97561 0.97087 0.96618 0.96154 0.95694 0.95238 0.94787 0.94340 0.93458 0.92593 0.91743 0.90909 0.90090 0.89286 0.83333 2 0.98030 0.97066 0.96117 0.95181 0.94260 0.93351 0.92456 0.91573 0.90703 0.89845 0.89000 0.87344 0.85734 0.84168 0.82645 0.81162 0.79719 0.69444 3 0.97059 0.95632 0.94232 0.92860 0.91514 0.90194 0.88900 0.87630 0.86384 0.85161 0.83962 0.81630 0.79383 0.77218 0.75131 0.73119 0.71178 0.57870 4 0.96098 0.94218 0.92385 0.90595 0.88849 0.87144 0.85480 0.83856 0.82270 0.80722 0.79209 0.76290 0.73503 0.708430.68301 0.65873 0.63552 0.48225 5 0.95147 0.92826 0.90573 0.88385 0.86261 0.84197 0.82193 0.80245 0.78353 0.76513 0.74726 0.71299 0.68058 0.64993 0.62092 0.59345 0.56743 0.40188 6 0.94205 0.91454 0.88797 0.86230 0.83748 0.81350 0.79031 0.76790 0.74622 0.72525 0.70496 0.66634 0.63017 0.59627 0.56447 0.53464 0.50663 0.33490 7 0.93272 0.90103 0.87056 0.84127 0.81309 0.78599 0.75992 0.73483 0.71068 0.68744 0.66506 0.62275 0.58349 0.54703 0.51316 0.48166 0.45235 0.27908 8 0.92348 0.88771 0.85349 0.82075 0.78941 0.75941 0.73069 0.70319 0.67684 0.65160 0.62741 0.58201 0.54027 0.50187 0.46651 0.43393 0.40388 0.23257 9 0.91434 0.87459 0.83676 0.80073 0.76642 0.73373 0.70259 0.67290 0.64461 0.61763 0.59190 0.54393 0.50025 0.46043 0.42410 0.39092 0.36061 0.19381 10 0.90529 0.86167 0.82035 0.78120 0.74409 0.70892 0.67556 0.64393 0.61391 0.58543 0.55839 0.50835 0.46319 0.42241 0.38554 0.35218 0.32197 0.16151 11 0.89632 0.84893 0.80426 0.76214 0.72242 0.68495 0.64958 0.61620 0.58468 0.55491 0.52679 0.47509 0.42888 0.38753 0.35049 0.31728 0.28748 0.13459 12 0.88745 0.83639 0.78849 0.74356 0.70138 0.66178 0.62460 0.58966 0.55684 0.52598 0.49697 0.44401 0.39711 0.35553 0.31863 0.28584 0.25668 0.11216 13 0.87866 0.82403 0.77303 0.72542 0.68095 0.63940 0.60057 0.56427 0.53032 0.49856 0.46884 0.41496 0.36770 0.32618 0.28966 0.25751 0.22917 0.09346 14 0.86996 0.81185 0.75788 0.70773 0.66112 0.61778 0.57748 0.53997 0.50507 0.47257 0.44230 0.38782 0.34046 0.29925 0.26333 0.23199 0.20462 0.07789 15 0.86135 0.79985 0.74301 0.69047 0.64186 0.59689 0.55526 0.51672 0.481020.44793 0.41727 0.36245 0.31524 0.27454 0.23939 0.20900 0.18270 0.06491 16 0.85282 0.78803 0.72845 0.67362 0.62317 0.57671 0.53391 0.49447 0.45811 0.42458 0.39365 0.33873 0.29189 0.25187 0.21763 0.18829 0.16312 0.05409 17 0.84438 0.77639 0.71416 0.65720 0.60502 0.55720 0.51337 0.47318 0.43630 0.40245 0.37136 0.31657 0.27027 0.23107 0.19784 0.16963 0.14564 0.04507 18 0.83602 0.76491 0.70016 0.64117 0.58739 0.53836 0.49363 0.45280 0.41552 0.38147 0.35034 0.29586 0.25025 0.21199 0.17986 0.15282 0.13004 0.03756 19 0.82774 0.75361 0.68643 0.62553 0.57029 0.52016 0.47464 0.43330 0.39573 0.36158 0.33051 0.27651 0.23171 0.19449 0.16351 0.13768 0.11611 0.03130 20 0.81954 0.74247 0.67297 0.61027 0.55368 0.50257 0.45639 0.41464 0.37689 0.34273 0.31180 0.25842 0.21455 0.17843 0.14864 0.12403 0.10367 0.02608 21 0.81143 0.73150 0.65978 0.59539 0.53755 0.48557 0.43883 0.396790.35894 0.32486 0.29416 0.24151 0.19866 0.16370 0.13513 0.11174 0.09256 0.02174 24 0.78757 0.69954 0.62172 0.55288 0.49193 0.43796 0.39012 0.34770 0.31007 0.27666 0.24698 0.19715 0.15770 0.12640 0.10153 0.08170 0.06588 0.01258 25 0.77977 0.68921 0.60953 0.53939 0.47761 0.42315 0.37512 0.33273 0.29530 0.26223 0.23300 0.18425 0.14602 0.11597 0.09230 0.07361 0.05882 0.01048 28 0.75684 0.65910 0.57437 0.50088 0.43708 0.38165 0.33348 0.29157 0.25509 0.22332 0.19563 0.15040 0.11591 0.08955 0.06934 0.05382 0.04187 0.00607 29 0.74934 0.64936 0.56311 0.48866 0.42435 0.36875 0.32065 0.27902 0.24295 0.21168 0.18456 0.14056 0.10733 0.08215 0.06304 0.04849 0.03738 0.00506 30 0.74192 0.63976 0.55207 0.47674 0.41199 0.35628 0.30832 0.267000.23138 0.20064 0.17411 0.13137 0.09938 0.07537 0.05731 0.04368 0.03338 0.00421 31 0.73458 0.63031 0.54125 0.46511 0.39999 0.34423 0.29646 0.25550 0.22036 0.19018 0.16425 0.12277 0.09202 0.06915 0.05210 0.03935 0.02980 0.00351 40 0.67165 0.55126 0.45289 0.37243 0.30656 0.25257 0.20829 0.17193 0.14205 0.11746 0.09722 0.06678 0.04603 0.03184 0.02209 0.01538 0.01075 0.00068 TABLE 3 Future Value of an Ordinary Annuity of $1 (1 + i)" - 1 FVA= i ni 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 20.0% 1 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 2 2.0100 2.0150 2.0200 2.0250 2.0300 2.0350 2.0400 2.0450 2.0500 2.0550 2.0600 2.0700 2.0800 2.0900 2.1000 2.1100 2.1200 2.2000 3 3.0301 3.0452 3.0604 3.0756 3.0909 3.1062 3.1216 3.1370 3.1525 3.1680 3.1836 3.2149 3.2464 3.2781 3.3100 3.3421 3.3744 3.6400 4 4.0604 4.0909 4.1216 4.1525 4.1836 4.2149 4.2465 4.2782 4.3101 4.3423 4.3746 4.4399 4.5061 4.5731 4.6410 4.7097 4.7793 5.3680 5 5.1010 5.1523 5.2040 5.2563 5.3091 5.3625 5.4163 5.4707 5.5256 5.5811 5.6371 5.7507 5.8666 5.9847 6.1051 6.2278 6.3528 7.4416 6 6.1520 6.2296 6.3081 6.3877 6.4684 6.5502 6.6330 6.7169 6.8019 6.8881 6.9753 7.1533 7.3359 7.5233 7.7156 7.9129 8.1152 9.9299 7 7.2135 7.3230 7.4343 7.5474 7.6625 7.7794 7.8983 8.0192 8.1420 8.2669 8.3938 8.6540 8.9228 9.2004 9.4872 9.7833 10.0890 12.9159 8 8.2857 8.4328 8.5830 8.7361 8.8923 9.0517 9.2142 9.3800 9.5491 9.7216 9.8975 10.2598 10.6366 11.0285 11.4359 11.8594 12.2997 16.4991 9 9.3685 9.5593 9.7546 9.9545 10.1591 10.3685 10.5828 10.8021 11.0266 11.2563 11.4913 11.9780 12.4876 13.0210 13.5795 14.1640 14.7757 20.7989 10 10.4622 10.7027 10.9497 11.2034 11.4639 11.7314 12.0061 12.2882 12.5779 12.8754 13.1808 13.8164 14.4866 15.1929 15.9374 16.7220 17.5487 25.9587 11 11.5668 11.8633 12.1687 12.4835 12.8078 13.1420 13.4864 13.8412 14.2068 14.5835 14.9716 15.7836 16.6455 17.5603 18.5312 19.5614 20.6546 32.1504 12 12.6825 13.0412 13.4121 13.7956 14.1920 14.6020 15.0258 15.4640 15.9171 16.3856 16.8699 17.8885 18.9771 20.1407 21.3843 22.7132 24.1331 39.5805 13 13.8093 14.2368 14.6803 15.1404 15.6178 16.1130 16.6268 17.1599 17.7130 18.2868 18.8821 20.1406 21.4953 22.9534 24.5227 26.2116 28.0291 48.4966 14 14.9474 15.4504 15.9739 16.5190 17.0863 17.6770 18.2919 18.9321 19.5986 20.2926 21.0151 22.5505 24.2149 26.0192 27.9750 30.0949 32.3926 59.1959 15 16.0969 16.6821 17.2934 17.9319 18.5989 19.2957 20.0236 20.7841 21.5786 22.4087 23.2760 25.1290 27.1521 29.3609 31.7725 34.4054 37.2797 72.0351 16 17.2579 17.9324 18.6393 19.3802 20.1569 20.9710 21.8245 22.7193 23.6575 24.6411 25.6725 27.8881 30.3243 33.0034 35.9497 39.1899 42.7533 87.4421 17 18.4304 19.2014 20.0121 20.8647 21.7616 22.7050 23.6975 24.7417 25.8404 26.9964 28.2129 30.8402 33.7502 36.9737 40.5447 44.5008 48.8837 105.9306 18 19.6147 20.4894 21.4123 22.3863 23.4144 24.4997 25.6454 26.8551 28.1324 29.4812 30.9057 33.9990 37.4502 41.3013 45.5992 50.3959 55.7497 128.1167 19 20.8109 21.7967 22.8406 23.9460 25.1169 26.3572 27.6712 29.0636 30.5390 32.1027 33.7600 37.3790 41.4463 46.0185 51.1591 56.9395 63.4397 154.7400 20 22.0190 23.1237 24.2974 25.5447 26.8704 28.2797 29.7781 31.3714 33.0660 34.8683 36.7856 40.9955 45.7620 51.1601 57.2750 64.2028 72.0524 186.6880 21 23.2392 24.4705 25.7833 27.1833 28.6765 30.2695 31.9692 33.7831 35.7193 37.7861 39.9927 44.8652 50.4229 56.7645 64.0025 72.2651 81.6987 225.0256 30 34.7849 37.5387 40.5681 43.9027 47.5754 51.6227 56.0849 61.0071 66.4388 72.4355 79.0582 94.4608 113.2832 136.3075 164.4940 199.0209 241.3327 1181.8816 40 48.8864 54.267960.4020 67.4026 75.4013 84.5503 95.0255 107.0303 120.7998 136.6056 154.7620 199.6351 259.0565 337.8824 442.5926 581.8261 767.0914 7343.8578 TABLE 4 Present Value of an ordinary Annuity of $1 PVA= 1- (1+1)" ni 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 0.91743 0.90909 11.0% 12.0% 0.90090 0.89286 20.0% 0.83333 1 0.99010 0.98522 0.980390.975610.97087 0.96618 0.96154 0.95694 0.95238 0.94787 0.94340 0.934580.92593 1.97040 1.95588 1.94156 1.92742 1.91347 1.899691.886091.87267 1.85941 1.846321.83339 1.80802 1.78326 1.75911 1.73554 1.71252 1.69005 1.52778 3 4 5 2.940992.91220 3.90197 3.85438 4.85343 4.78264 2.88388 3.80773 4.71346 2.85602 3.76197 4.64583 2.828612.80164 3.71710 3.67308 4.57971 4.51505 2.77509 3.62990 4.45182 2.74896 3.58753 4.38998 2.72325 3.54595 4.32948 2.69793 3.50515 4.27028 2.67301 3.46511 4.21236 2.62432 3.38721 4.10020 2.57710 3.31213 3.99271 2.53129 2.48685 3.23972 3.16987 3.88965 3.79079 2.44371 2.40183 3.10245 3.03735 3.69590 3.60478 2.10648 2.58873 2.99061 6 5.79548 5.69719 5.60143 5.508135.41719 5.32855 5.24214 5.15787 5.07569 4.99553 4.91732 4.76654 4.62288 4.48592 4.35526 4.23054 4.11141 3.32551 7 8 9 10 6.72819 7.65168 8.56602 9.47130 6.59821 7.48593 8.36052 9.22218 6.47199 7.32548 8.16224 8.16224 8.98259 6.349396.23028 7.170147.01969 7.97087 7.97087 7.78611 7.78611 8.75206 8.53020 6.11454 6.00205 6.87396 6.73274 7.607697.43533 8.31661 8.11090 5.89270 5.78637 5.68297 5.58238 5.389295.20637 5.03295 4.86842 4.71220 4.56376 3.60459 6.595896.46321 6.33457 6.20979 5.97130 5.74664 5.53482 5.33493 5.14612 4.96764 3.83716 7.26879 7.10782 6.95220 6.80169 6.515236.24689 5.99525 5.75902 5.53705 5.32825 4.03097 7.91272 7.721737.537637.360097.02358 6.710086.41766 6.14457 5.88923 5.65022 4.19247 11 12 13 14 15 10.36763 10.07112 9.78685 11.25508 10.90751 10.57534 12.13374 11.73153 11.34837 13.00370 12.54338 12.10625 13.86505 13.34323 12.84926 9.51421 9.252629.00155 8.76048 10.25776 9.95400 9.66333 9.38507 10.98319 10.63496 10.30274 9.98565 11.69091 11.29607 10.92052 10.56312 12.38138 11.93794 11.51741 11.11839 8.52892 9.11858 9.68285 10.22283 10.73955 8.30641 8.86325 9.39357 9.89864 10.37966 8.09254 7.88687 7.49867 7.13896 8.61852 8.38384 7.942697.53608 9.11708 8.85268 8.35765 7.90378 9.589659.294988.74547 8.24424 10.03758 9.71225 9.10791 8.55948 6.80519 7.16073 7.48690 7.78615 8.06069 6.49506 6.20652 5.93770 4.32706 6.81369 6.49236 6.19437 4.43922 7.10336 6.74987 6.42355 4.53268 7.36669 6.98187 6.62817 4.61057 7.60608 7.19087 6.81086 4.67547 16 14.71787 17 15.56225 18 16.39827 1917.22601 20 18.04555 14.13126 14.90765 15.67256 16.42617 17.16864 13.57771 14.29187 14.99203 15.67846 16.35143 13.05500 13.71220 14.35336 14.97889 15.58916 12.56110 13.16612 13.75351 14.32380 14.87747 12.09412 12.65132 13.18968 13.70984 14.21240 11.65230 12.16567 12.65930 13.13394 13.59033 11.23402 11.70719 12.15999 12.59329 13.00794 10.83777 10.46216 10.10590 11.27407 10.86461 10.47726 11.68959 11.24607 10.82760 12.08532 11.60765 11.15812 12.46221 11.95038 11.46992 9.44665 8.85137 9.76322 9.12164 10.059099.37189 10.33560 9.60360 10.59401 9.81815 8.31256 7.82371 7.37916 6.97399 4.72956 8.54363 8.02155 7.54879 7.11963 4.77463 8.75563 8.20141 7.70162 7.24967 4.81219 8.95011 8.36492 7.839297.36578 4.84350 9.12855 8.51356 7.96333 7.46944 4.86958 21 25 30 40 18.85698 17.90014 17.01121 16.18455 15.41502 14.69797 14.02916 22.02316 20.71961 19.52346 18.42438 17.41315 16.48151 15.62208 25.80771 24.01584 22.39646 20.93029 19.60044 18.39205 17.29203 32.83469 29.91585 27.35548 25.10278 23.11477 21.35507 19.79277 13.40472 14.82821 16.28889 18.40158 12.82115 12.27524 14.09394 13.41393 15.37245 14.53375 17.1590916.04612 11.76408 12.78336 13.76483 15.04630 10.83553 11.65358 12.40904 13.33171 10.01680 10.67478 11.25778 11.92461 9.29224 8.64869 8.07507 7.56200 4.89132 9.82258 9.07704 8.42174 7.84314 4.94759 10.27365 9.42691 8.69379 8.05518 4.97894 10.75736 9.77905 8.95105 8.24378 4.99660 TABLE 5 Future Value of an Annuity Due of $1 (1 + i)" - 1 X (1+i) FVAD = ni 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 20.0% 1 1.0100 1.0150 1.0200 1.0250 1.0300 1.0350 1.0400 1.0450 1.0500 1.0550 1.0600 1.0700 1.0800 1.0900 1.1000 1.1100 1.1200 1.2000 2 2.0301 2.0452 2.0604 2.0756 2.0909 2.1062 2.1216 2.1370 2.1525 2.1680 2.1836 2.2149 2.2464 2.2781 2.3100 2.3421 2.3744 2.6400 3 3.0604 3.0909 3.1216 3.1525 3.1836 3.2149 3.2465 3.2782 3.3101 3.3423 3.3746 3.4399 3.5061 3.5731 3.6410 3.7097 3.7793 4.3680 4 4.1010 4.1523 4.2040 4.2563 4.3091 4.3625 4.4163 4.4707 4.5256 4.5811 4.6371 4.7507 4.8666 4.9847 5.1051 5.2278 5.3528 6.4416 5 5.1520 5.2296 5.3081 5.3877 5.4684 5.5502 5.6330 5.7169 5.8019 5.8881 5.9753 6.1533 6.3359 6.5233 6.7156 6.9129 7.1152 8.9299 6 6.2135 6.3230 6.4343 6.5474 6.6625 6.7794 6.8983 7.0192 7.1420 7.2669 7.3938 7.6540 7.9228 8.2004 8.4872 8.7833 9.0890 11.9159 7 7.2857 7.4328 7.5830 7.7361 7.8923 8.0517 8.2142 8.3800 8.5491 8.7216 8.8975 9.2598 9.6366 10.0285 10.4359 10.8594 11.2997 15.4991 8 8.3685 8.5593 8.7546 8.9545 9.1591 9.3685 9.5828 9.8021 10.0266 10.2563 10.4913 10.9780 11.4876 12.0210 12.5795 13.1640 13.7757 19.7989 9 9.4622 9.7027 9.9497 10.2034 10.4639 10.7314 11.0061 11.2882 11.5779 11.8754 12.1808 12.8164 13.4866 14.1929 14.9374 15.7220 16.5487 24.9587 10 10.5668 10.8633 11.1687 11.4835 11.8078 12.1420 12.4864 12.8412 13.2068 13.5835 13.9716 14.7836 15.6455 16.5603 17.5312 18.5614 19.6546 31.1504 11 13.6020 14.0258 14.4640 14.9171 15.3856 15.8699 16.8885 17.9771 19.1407 20.3843 21.7132 23.1331 38.5805 12 11.6825 12.0412 12.4121 12.7956 13.1920 12.8093 13.2368 13.6803 14.1404 14.6178 13.9474 14.4504 14.9739 15.5190 16.0863 15.1130 15.6268 16.1599 16.7130 17.2868 17.8821 19.1406 20.4953 21.9534 23.5227 25.2116 27.0291 47.4966 13 16.6770 17.2919 17.9321 18.5986 19.2926 20.0151 21.5505 23.2149 25.0192 26.9750 29.0949 31.3926 58.1959 14 15.0969 15.6821 16.2934 16.9319 17.5989 18.2957 19.0236 19.7841 20.5786 21.4087 22.2760 24.1290 26.1521 28.3609 30.7725 33.4054 36.2797 71.0351 15 16.2579 16.9324 17.6393 18.3802 19.1569 19.9710 20.8245 21.7193 22.6575 23.6411 24.6725 26.8881 29.3243 32.0034 34.9497 38.1899 41.7533 86.4421 16 17.4304 18.2014 19.0121 19.8647 20.7616 21.7050 22.6975 23.7417 24.8404 25.9964 27.2129 29.8402 32.7502 35.9737 39.5447 43.5008 47.8837 104.9306 17 18.6147 19.4894 20.4123 21.3863 22.4144 23.4997 24.6454 25.8551 27.1324 28.4812 29.9057 32.9990 36.4502 40.3013 44.5992 49.3959 54.7497 127.1167 18 19.8109 20.7967 21.8406 22.9460 24.1169 25.3572 26.6712 28.0636 29.5390 31.1027 32.7600 36.3790 40.4463 45.0185 50.1591 55.9395 62.4397 153.7400 19 21.0190 22.1237 23.2974 24.5447 25.8704 27.2797 28.7781 30.3714 32.0660 33.8683 35.7856 39.9955 44.7620 50.1601 56.2750 63.2028 71.0524 185.6880 20 22.2392 23.4705 24.7833 26.1833 27.6765 29.2695 30.9692 32.7831 34.7193 36.7861 38.9927 43.8652 49.4229 55.7645 63.0025 71.2651 80.6987 224.0256 21 23.4716 24.8376 26.2990 27.8629 29.5368 31.3289 33.2480 35.3034 37.5052 39.8643 42.3923 48.0057 54.4568 61.8733 70.4027 80.2143 91.5026 270.0307 25 28.5256 30.5140 32.6709 35.0117 37.5530 40.3131 43.3117 46.5706 50.1135 53.9660 58.1564 67.6765 78.9544 92.3240 108.1818 126.9988 149.3339 566.3773 30 35.1327 38.1018 41.3794 45.0003 49.0027 53.4295 58.3283 63.7524 69.7608 76.4194 180.9434 220.9132 270.2926 1418.2579 83.8017 101.0730 122.3459 148.5752 164.0477 213.6096 279.7810 368.2919 40 49.3752 55.0819 61.6100 69.0876 77.6633 87.5095 98.8265 111.8467 126.8398 144.1189 486.8518 645.8269 859.1424 8812.6294 TABLE 6 Present Value of an Annuity Due of $1 PVAD = (1+1) x (1 + i) ni 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 20.0% 1 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 2 1.99010 1.98522 1.98039 1.97561 1.97087 1.96618 1.96154 1.95694 1.95238 1.94787 1.94340 1.93458 1.92593 1.91743 1.90909 1.90090 1.89286 1.83333 3 2.97040 2.95588 2.94156 2.92742 2.91347 2.89969 2.88609 2.87267 2.85941 2.84632 2.83339 2.80802 2.78326 2.75911 2.73554 2.71252 2.69005 2.52778 4 3.94099 3.91220 3.88388 3.85602 3.82861 3.80164 3.77509 3.74896 3.72325 3.69793 3.67301 3.62432 3.57710 3.53129 3.48685 3.44371 3.40183 3.10648 5 4.90197 4.85438 4.80773 4.76197 4.71710 4.67308 4.62990 4.58753 4.54595 4.50515 4.46511 4.38721 4.31213 4.23972 4.16987 4.10245 4.03735 3.58873 6 5.85343 5.78264 5.71346 5.64583 5.57971 5.51505 5.45182 5.38998 5.32948 5.27028 5.21236 5.10020 4.99271 4.88965 4.79079 4.69590 4.60478 3.99061 7 6.79548 6.69719 6.60143 6.50813 6.41719 6.32855 6.24214 6.15787 6.07569 5.99553 5.91732 5.76654 5.62288 5.48592 5.35526 5.23054 5.11141 4.32551 8 7.72819 7.59821 7.47199 7.34939 7.23028 7.11454 7.00205 6.89270 6.78637 6.68297 6.58238 6.38929 6.20637 6.03295 5.86842 5.71220 5.56376 4.60459 9 8.65168 8.48593 8.32548 8.17014 8.01969 7.87396 7.73274 7.59589 7.46321 7.33457 6.97130 6.74664 6.53482 6.33493 6.14612 5.96764 4.83716 7.20979 7.80169 10 9.56602 9.36052 9.16224 8.97087 8.78611 8.60769 8.43533 8.26879 8.10782 7.95220 7.51523 7.24689 6.99525 6.75902 6.53705 6.32825 5.03097 11 10.47130 10.22218 9.98259 9.75206 9.53020 9.31661 9.11090 8.91272 8.72173 8.53763 8.36009 8.02358 7.71008 7.41766 7.14457 6.88923 6.650225.19247 12 11.36763 11.07112 10.78685 10.51421 10.25262 10.00155 9.76048 9.52892 9.30641 9.09254 8.88687 8.49867 8.13896 7.80519 7.49506 7.20652 6.93770 5.32706 13 12.25508 11.90751 11.57534 11.25776 10.95400 10.66333 10.38507 10.11858 9.86325 9.61852 9.38384 8.94269 8.53608 8.16073 7.813697.49236 7.19437 5.43922 14 13.13374 12.73153 12.34837 11.98318 11.63496 11.30274 10.98565 10.68285 10.39357 10.11708 9.85268 9.35765 8.90378 8.48690 8.10336 7.74987 7.42355 5.53268 15 14.00370 13.54338 13.10625 12.69091 12.29607 11.92052 11.56312 11.22283 10.89864 10.58965 10.29498 9.74547 9.24424 8.78615 8.366697.98187 7.62817 5.61057 16 14.86505 14.34323 13.84926 13.38138 12.93794 12.51741 12.11839 11.73955 11.37966 11.03758 10.71225 10.10791 9.55948 9.06069 8.60608 8.19087 7.81086 5.67547 17 15.71787 15.13126 14.57771 14.05500 13.56110 13.09412 12.65230 12.23402 11.83777 11.46216 11.10590 10.44665 9.85137 9.31256 8.82371 8.37916 7.97399 5.72956 18 16.56225 15.90765 15.29187 14.71220 14.16612 13.65132 13.16567 12.70719 12.27407 11.86461 11.47726 10.76322 10.12164 9.54363 9.02155 8.54879 8.11963 5.77463 19 17.39827 16.67256 15.99203 15.35336 14.75351 14.18968 13.65930 13.15999 12.68959 12.24607 11.82760 11.05909 10.37189 9.75563 9.20141 8.70162 8.24967 5.81219 20 18.22601 17.42617 16.67846 15.97889 15.32380 14.70984 14.13394 13.59329 13.08532 12.60765 12.15812 11.33560 10.60360 9.95011 9.36492 8.83929 8.36578 5.84350 21 19.04555 18.16864 17.35143 16.58916 15.87747 15.21240 14.59033 14.00794 13.46221 10.81815 10.12855 9.51356 8.96333 8.46944 5.86958 12.95038 12.46992 11.59401 14.15170 13.55036 12.46933 25 22.24339 21.03041 19.91393 18.88499 17.93554 17.05837 16.24696 15.49548 14.79864 11.52876 10.70661 9.98474 9.34814 8.78432 5.93710 30 26.06579 24.37608 22.84438 21.45355 20.18845 19.03577 17.98371 17.02189 16.14107 15.33310 14.59072 13.27767 12.15841 11.19828 10.36961 9.65011 9.02181 5.97472 40 33.16303 30.36458 27.90259 25.73034 23.80822 22.10250 20.58448 19.22966 18.01704 16.92866 15.94907 14.26493 12.87858 11.72552 10.75696 9.93567 9.23303 5.99592 Clark Industries has a defined benefit pension plan that specifies annual, year-end retirement benefits equal to: 1.2% x Service years x Final year's salary Stanley Mills was hired by Clark at the beginning of 2002. Mills is expected to retire at the end of 2046 after 45 years of service. His retirement is expected to span 15 years. At the end of 2021, 20 years after being hired, his salary is $87,000. The company's actuary projects Mills's salary to be $340,000 at retirement. The actuary's discount rate is 6%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Estimate the amount of Stanley Mills's annual retirement payments for the 15 retirement years earned as of the end of 2021. 2. Suppose Clark's pension plan permits a lump-sum payment at retirement in lieu of annuity payments. Determine the lump-sum equivalent as the present value as of the retirement date of annuity payments during the retirement period. 3. What is the company's projected benefit obligation at the end of 2021 with respect to Stanley Mills? 4. Even though pension accounting centers on the PBO calculation, the ABO still must be disclosed in the pension disclosure note. What is the company's accumulated benefit obligation at the end of 2021 with respect to Stanley Mills? 5. If we assume no estimates change in the meantime, what is the company's projected benefit obligation at the end of 2022 with respect to Stanley Mills? 6. What portion of the 2022 increase in the PBO is attributable to 2022 service (the service cost component of pension expense) and to accrued interest (the interest cost component of pension expense)? (For all requirements, round final answers to the nearest whole dollars.) 1. Annual retirement payments 2. PV of retirement annuity 3. Projected benefit obligation 4. Accumulated benefit obligation 5. Projected benefit obligation 6. Interest cost Service cost TABLE 1 Future Value of $1 FV = $1(1 + i)" ni 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 20.0% 1 1.01000 1.01500 1.02000 1.02500 1.03000 1.03500 1.04000 1.04500 1.05000 1.05500 1.06000 1.07000 1.08000 1.09000 1.10000 1.11000 1.12000 1.20000 2 1.02010 1.03022 1.04040 1.05063 1.06090 1.07123 1.08160 1.09203 1.10250 1.11303 1.12360 1.14490 1.16640 1.18810 1.21000 1.23210 1.25440 1.44000 3 1.03030 1.04568 1.06121 1.07689 1.09273 1.10872 1.12486 1.14117 1.15763 1.17424 1.19102 1.22504 1.25971 1.29503 1.33100 1.36763 1.40493 1.72800 4 1.04060 1.06136 1.08243 1.10381 1.12551 1.14752 1.16986 1.19252 1.21551 1.23882 1.26248 1.31080 1.36049 1.41158 1.46410 1.51807 1.57352 2.07360 5 1.05101 1.07728 1.10408 1.13141 1.15927 1.18769 1.21665 1.24618 1.27628 1.30696 1.33823 1.40255 1.46933 1.53862 1.61051 1.68506 1.76234 2.48832 6 1.06152 1.09344 1.12616 1.15969 1.19405 1.22926 1.26532 1.30226 1.34010 1.37884 1.41852 1.50073 1.58687 1.67710 1.77156 1.87041 1.97382 2.98598 1.50363 1.60578 1.71382 1.82804 1.94872 2.07616 2.21068 3.58318 1.59385 1.71819 1.85093 1.99256 2.14359 2.30454 2.47596 4.29982 7 1.07214 1.10984 1.14869 1.18869 1.22987 1.27228 1.31593 1.36086 1.40710 1.45468 8 1.08286 1.12649 1.17166 1.21840 1.26677 1.31681 1.36857 1.42210 1.47746 1.53469 9 1.09369 1.14339 1.19509 1.24886 1.30477 1.36290 1.42331 1.48610 1.55133 1.61909 10 1.10462 1.16054 1.21899 1.28008 1.34392 1.41060 1.48024 1.55297 1.62889 1.70814 1.68948 1.83846 1.99900 2.17189 2.35795 2.55804 2.77308 5.15978 1.79085 1.96715 2.15892 2.36736 2.59374 2.83942 3.10585 6.19174 11 1.11567 1.17795 1.24337 1.31209 1.38423 1.45997 1.53945 1.62285 1.71034 1.80209 1.89830 2.10485 2.33164 2.58043 2.85312 3.15176 3.47855 7.43008 12 1.12683 1.19562 1.26824 1.34489 1.42576 1.51107 1.60103 1.69588 1.79586 1.90121 2.01220 2.25219 2.51817 2.81266 3.13843 3.49845 3.89598 8.91610 13 1.13809 1.21355 1.29361 1.37851 1.46853 1.56396 1.66507 1.77220 1.88565 2.00577 2.13293 2.40985 2.71962 3.06580 3.45227 3.88328 4.36349 10.69932 14 1.14947 1.23176 1.31948 1.41297 1.51259 1.61869 1.73168 1.85194 1.97993 2.11609 2.26090 2.57853 2.93719 3.34173 3.79750 4.31044 4.88711 12.83918 15 1.16097 1.25023 1.34587 1.44830 1.55797 1.67535 1.80094 1.93528 2.07893 2.23248 2.39656 2.75903 3.17217 3.64248 4.17725 4.78459 5.47357 15.40702 16 1.17258 1.26899 1.37279 1.48451 1.60471 1.73399 1.87298 2.02237 2.18287 2.35526 2.54035 2.95216 3.42594 3.97031 4.59497 5.31089 6.13039 18.48843 17 1.18430 1.28802 1.40024 1.52162 1.65285 1.79468 1.94790 2.11338 2.29202 2.48480 2.69277 3.15882 3.70002 4.32763 5.05447 5.89509 6.86604 22.18611 18 1.19615 1.30734 1.42825 1.55966 1.70243 1.85749 2.02582 2.20848 2.40662 2.62147 2.85434 3.37993 3.99602 4.71712 5.55992 6.54355 7.68997 26.62333 19 1.20811 1.32695 1.45681 1.59865 1.75351 1.92250 2.10685 2.30786 2.52695 2.76565 3.02560 3.61653 4.31570 5.14166 6.11591 7.26334 8.61276 31.94800 20 1.22019 1.34686 1.48595 1.63862 1.80611 1.98979 2.19112 2.41171 2.65330 2.91776 3.20714 3.86968 4,66096 5.60441 6.72750 8.06231 9.64629 38.33760 21 1.23239 1.36706 1.51567 1.67958 1.86029 2.05943 2.27877 2.52024 2.78596 3.07823 3.39956 4.14056 5.03383 6.10881 7.40025 8.94917 10.80385 46.00512 25 1.28243 1.45095 1.64061 1.85394 2.09378 2.36324 2.66584 3.00543 3.38635 3.81339 4.29187 5.42743 6.84848 8.62308 10.83471 13.58546 17.00006 95.39622 30 1.34785 1.56308 1.81136 2.09757 2.42726 2.806793.24340 3.74532 4.32194 4.98395 5.74349 7.61226 10.06266 13.26768 17.44940 22.89230 29.95992 237.37631 40 1.48886 1.81402 2.20804 2.68506 3.26204 3.95926 4.80102 5.81636 7.03999 8.51331 10.28572 14.97446 21.72452 31.40942 45.25926 65.00087 93.05097 1469.77160 PV = TABLE 2 Present Value of $1 $1 (1+i)" wi 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 0.0% 0.0% 11.0% 12.0% 20.0% 10.99010 0.98522 0.98039 0.97561 0.97087 0.96618 0.96154 0.95694 0.95238 0.94787 0.94340 0.93458 0.92593 0.91743 0.90909 0.90090 0.89286 0.83333 2 0.98030 0.97066 0.96117 0.95181 0.94260 0.93351 0.92456 0.91573 0.90703 0.89845 0.89000 0.87344 0.85734 0.84168 0.82645 0.81162 0.79719 0.69444 3 0.97059 0.95632 0.94232 0.92860 0.91514 0.90194 0.88900 0.87630 0.86384 0.85161 0.83962 0.81630 0.79383 0.77218 0.75131 0.73119 0.71178 0.57870 4 0.96098 0.94218 0.92385 0.90595 0.88849 0.87144 0.85480 0.83856 0.82270 0.80722 0.79209 0.76290 0.73503 0.708430.68301 0.65873 0.63552 0.48225 5 0.95147 0.92826 0.90573 0.88385 0.86261 0.84197 0.82193 0.80245 0.78353 0.76513 0.74726 0.71299 0.68058 0.64993 0.62092 0.59345 0.56743 0.40188 6 0.94205 0.91454 0.88797 0.86230 0.83748 0.81350 0.79031 0.76790 0.74622 0.72525 0.70496 0.66634 0.63017 0.59627 0.56447 0.53464 0.50663 0.33490 7 0.93272 0.90103 0.87056 0.84127 0.81309 0.78599 0.75992 0.73483 0.71068 0.68744 0.66506 0.62275 0.58349 0.54703 0.51316 0.48166 0.45235 0.27908 8 0.92348 0.88771 0.85349 0.82075 0.78941 0.75941 0.73069 0.70319 0.67684 0.65160 0.62741 0.58201 0.54027 0.50187 0.46651 0.43393 0.40388 0.23257 9 0.91434 0.87459 0.83676 0.80073 0.76642 0.73373 0.70259 0.67290 0.64461 0.61763 0.59190 0.54393 0.50025 0.46043 0.42410 0.39092 0.36061 0.19381 10 0.90529 0.86167 0.82035 0.78120 0.74409 0.70892 0.67556 0.64393 0.61391 0.58543 0.55839 0.50835 0.46319 0.42241 0.38554 0.35218 0.32197 0.16151 11 0.89632 0.84893 0.80426 0.76214 0.72242 0.68495 0.64958 0.61620 0.58468 0.55491 0.52679 0.47509 0.42888 0.38753 0.35049 0.31728 0.28748 0.13459 12 0.88745 0.83639 0.78849 0.74356 0.70138 0.66178 0.62460 0.58966 0.55684 0.52598 0.49697 0.44401 0.39711 0.35553 0.31863 0.28584 0.25668 0.11216 13 0.87866 0.82403 0.77303 0.72542 0.68095 0.63940 0.60057 0.56427 0.53032 0.49856 0.46884 0.41496 0.36770 0.32618 0.28966 0.25751 0.22917 0.09346 14 0.86996 0.81185 0.75788 0.70773 0.66112 0.61778 0.57748 0.53997 0.50507 0.47257 0.44230 0.38782 0.34046 0.29925 0.26333 0.23199 0.20462 0.07789 15 0.86135 0.79985 0.74301 0.69047 0.64186 0.59689 0.55526 0.51672 0.481020.44793 0.41727 0.36245 0.31524 0.27454 0.23939 0.20900 0.18270 0.06491 16 0.85282 0.78803 0.72845 0.67362 0.62317 0.57671 0.53391 0.49447 0.45811 0.42458 0.39365 0.33873 0.29189 0.25187 0.21763 0.18829 0.16312 0.05409 17 0.84438 0.77639 0.71416 0.65720 0.60502 0.55720 0.51337 0.47318 0.43630 0.40245 0.37136 0.31657 0.27027 0.23107 0.19784 0.16963 0.14564 0.04507 18 0.83602 0.76491 0.70016 0.64117 0.58739 0.53836 0.49363 0.45280 0.41552 0.38147 0.35034 0.29586 0.25025 0.21199 0.17986 0.15282 0.13004 0.03756 19 0.82774 0.75361 0.68643 0.62553 0.57029 0.52016 0.47464 0.43330 0.39573 0.36158 0.33051 0.27651 0.23171 0.19449 0.16351 0.13768 0.11611 0.03130 20 0.81954 0.74247 0.67297 0.61027 0.55368 0.50257 0.45639 0.41464 0.37689 0.34273 0.31180 0.25842 0.21455 0.17843 0.14864 0.12403 0.10367 0.02608 21 0.81143 0.73150 0.65978 0.59539 0.53755 0.48557 0.43883 0.396790.35894 0.32486 0.29416 0.24151 0.19866 0.16370 0.13513 0.11174 0.09256 0.02174 24 0.78757 0.69954 0.62172 0.55288 0.49193 0.43796 0.39012 0.34770 0.31007 0.27666 0.24698 0.19715 0.15770 0.12640 0.10153 0.08170 0.06588 0.01258 25 0.77977 0.68921 0.60953 0.53939 0.47761 0.42315 0.37512 0.33273 0.29530 0.26223 0.23300 0.18425 0.14602 0.11597 0.09230 0.07361 0.05882 0.01048 28 0.75684 0.65910 0.57437 0.50088 0.43708 0.38165 0.33348 0.29157 0.25509 0.22332 0.19563 0.15040 0.11591 0.08955 0.06934 0.05382 0.04187 0.00607 29 0.74934 0.64936 0.56311 0.48866 0.42435 0.36875 0.32065 0.27902 0.24295 0.21168 0.18456 0.14056 0.10733 0.08215 0.06304 0.04849 0.03738 0.00506 30 0.74192 0.63976 0.55207 0.47674 0.41199 0.35628 0.30832 0.267000.23138 0.20064 0.17411 0.13137 0.09938 0.07537 0.05731 0.04368 0.03338 0.00421 31 0.73458 0.63031 0.54125 0.46511 0.39999 0.34423 0.29646 0.25550 0.22036 0.19018 0.16425 0.12277 0.09202 0.06915 0.05210 0.03935 0.02980 0.00351 40 0.67165 0.55126 0.45289 0.37243 0.30656 0.25257 0.20829 0.17193 0.14205 0.11746 0.09722 0.06678 0.04603 0.03184 0.02209 0.01538 0.01075 0.00068 TABLE 3 Future Value of an Ordinary Annuity of $1 (1 + i)" - 1 FVA= i ni 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 20.0% 1 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 2 2.0100 2.0150 2.0200 2.0250 2.0300 2.0350 2.0400 2.0450 2.0500 2.0550 2.0600 2.0700 2.0800 2.0900 2.1000 2.1100 2.1200 2.2000 3 3.0301 3.0452 3.0604 3.0756 3.0909 3.1062 3.1216 3.1370 3.1525 3.1680 3.1836 3.2149 3.2464 3.2781 3.3100 3.3421 3.3744 3.6400 4 4.0604 4.0909 4.1216 4.1525 4.1836 4.2149 4.2465 4.2782 4.3101 4.3423 4.3746 4.4399 4.5061 4.5731 4.6410 4.7097 4.7793 5.3680 5 5.1010 5.1523 5.2040 5.2563 5.3091 5.3625 5.4163 5.4707 5.5256 5.5811 5.6371 5.7507 5.8666 5.9847 6.1051 6.2278 6.3528 7.4416 6 6.1520 6.2296 6.3081 6.3877 6.4684 6.5502 6.6330 6.7169 6.8019 6.8881 6.9753 7.1533 7.3359 7.5233 7.7156 7.9129 8.1152 9.9299 7 7.2135 7.3230 7.4343 7.5474 7.6625 7.7794 7.8983 8.0192 8.1420 8.2669 8.3938 8.6540 8.9228 9.2004 9.4872 9.7833 10.0890 12.9159 8 8.2857 8.4328 8.5830 8.7361 8.8923 9.0517 9.2142 9.3800 9.5491 9.7216 9.8975 10.2598 10.6366 11.0285 11.4359 11.8594 12.2997 16.4991 9 9.3685 9.5593 9.7546 9.9545 10.1591 10.3685 10.5828 10.8021 11.0266 11.2563 11.4913 11.9780 12.4876 13.0210 13.5795 14.1640 14.7757 20.7989 10 10.4622 10.7027 10.9497 11.2034 11.4639 11.7314 12.0061 12.2882 12.5779 12.8754 13.1808 13.8164 14.4866 15.1929 15.9374 16.7220 17.5487 25.9587 11 11.5668 11.8633 12.1687 12.4835 12.8078 13.1420 13.4864 13.8412 14.2068 14.5835 14.9716 15.7836 16.6455 17.5603 18.5312 19.5614 20.6546 32.1504 12 12.6825 13.0412 13.4121 13.7956 14.1920 14.6020 15.0258 15.4640 15.9171 16.3856 16.8699 17.8885 18.9771 20.1407 21.3843 22.7132 24.1331 39.5805 13 13.8093 14.2368 14.6803 15.1404 15.6178 16.1130 16.6268 17.1599 17.7130 18.2868 18.8821 20.1406 21.4953 22.9534 24.5227 26.2116 28.0291 48.4966 14 14.9474 15.4504 15.9739 16.5190 17.0863 17.6770 18.2919 18.9321 19.5986 20.2926 21.0151 22.5505 24.2149 26.0192 27.9750 30.0949 32.3926 59.1959 15 16.0969 16.6821 17.2934 17.9319 18.5989 19.2957 20.0236 20.7841 21.5786 22.4087 23.2760 25.1290 27.1521 29.3609 31.7725 34.4054 37.2797 72.0351 16 17.2579 17.9324 18.6393 19.3802 20.1569 20.9710 21.8245 22.7193 23.6575 24.6411 25.6725 27.8881 30.3243 33.0034 35.9497 39.1899 42.7533 87.4421 17 18.4304 19.2014 20.0121 20.8647 21.7616 22.7050 23.6975 24.7417 25.8404 26.9964 28.2129 30.8402 33.7502 36.9737 40.5447 44.5008 48.8837 105.9306 18 19.6147 20.4894 21.4123 22.3863 23.4144 24.4997 25.6454 26.8551 28.1324 29.4812 30.9057 33.9990 37.4502 41.3013 45.5992 50.3959 55.7497 128.1167 19 20.8109 21.7967 22.8406 23.9460 25.1169 26.3572 27.6712 29.0636 30.5390 32.1027 33.7600 37.3790 41.4463 46.0185 51.1591 56.9395 63.4397 154.7400 20 22.0190 23.1237 24.2974 25.5447 26.8704 28.2797 29.7781 31.3714 33.0660 34.8683 36.7856 40.9955 45.7620 51.1601 57.2750 64.2028 72.0524 186.6880 21 23.2392 24.4705 25.7833 27.1833 28.6765 30.2695 31.9692 33.7831 35.7193 37.7861 39.9927 44.8652 50.4229 56.7645 64.0025 72.2651 81.6987 225.0256 30 34.7849 37.5387 40.5681 43.9027 47.5754 51.6227 56.0849 61.0071 66.4388 72.4355 79.0582 94.4608 113.2832 136.3075 164.4940 199.0209 241.3327 1181.8816 40 48.8864 54.267960.4020 67.4026 75.4013 84.5503 95.0255 107.0303 120.7998 136.6056 154.7620 199.6351 259.0565 337.8824 442.5926 581.8261 767.0914 7343.8578 TABLE 4 Present Value of an ordinary Annuity of $1 PVA= 1- (1+1)" ni 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 0.91743 0.90909 11.0% 12.0% 0.90090 0.89286 20.0% 0.83333 1 0.99010 0.98522 0.980390.975610.97087 0.96618 0.96154 0.95694 0.95238 0.94787 0.94340 0.934580.92593 1.97040 1.95588 1.94156 1.92742 1.91347 1.899691.886091.87267 1.85941 1.846321.83339 1.80802 1.78326 1.75911 1.73554 1.71252 1.69005 1.52778 3 4 5 2.940992.91220 3.90197 3.85438 4.85343 4.78264 2.88388 3.80773 4.71346 2.85602 3.76197 4.64583 2.828612.80164 3.71710 3.67308 4.57971 4.51505 2.77509 3.62990 4.45182 2.74896 3.58753 4.38998 2.72325 3.54595 4.32948 2.69793 3.50515 4.27028 2.67301 3.46511 4.21236 2.62432 3.38721 4.10020 2.57710 3.31213 3.99271 2.53129 2.48685 3.23972 3.16987 3.88965 3.79079 2.44371 2.40183 3.10245 3.03735 3.69590 3.60478 2.10648 2.58873 2.99061 6 5.79548 5.69719 5.60143 5.508135.41719 5.32855 5.24214 5.15787 5.07569 4.99553 4.91732 4.76654 4.62288 4.48592 4.35526 4.23054 4.11141 3.32551 7 8 9 10 6.72819 7.65168 8.56602 9.47130 6.59821 7.48593 8.36052 9.22218 6.47199 7.32548 8.16224 8.16224 8.98259 6.349396.23028 7.170147.01969 7.97087 7.97087 7.78611 7.78611 8.75206 8.53020 6.11454 6.00205 6.87396 6.73274 7.607697.43533 8.31661 8.11090 5.89270 5.78637 5.68297 5.58238 5.389295.20637 5.03295 4.86842 4.71220 4.56376 3.60459 6.595896.46321 6.33457 6.20979 5.97130 5.74664 5.53482 5.33493 5.14612 4.96764 3.83716 7.26879 7.10782 6.95220 6.80169 6.515236.24689 5.99525 5.75902 5.53705 5.32825 4.03097 7.91272 7.721737.537637.360097.02358 6.710086.41766 6.14457 5.88923 5.65022 4.19247 11 12 13 14 15 10.36763 10.07112 9.78685 11.25508 10.90751 10.57534 12.13374 11.73153 11.34837 13.00370 12.54338 12.10625 13.86505 13.34323 12.84926 9.51421 9.252629.00155 8.76048 10.25776 9.95400 9.66333 9.38507 10.98319 10.63496 10.30274 9.98565 11.69091 11.29607 10.92052 10.56312 12.38138 11.93794 11.51741 11.11839 8.52892 9.11858 9.68285 10.22283 10.73955 8.30641 8.86325 9.39357 9.89864 10.37966 8.09254 7.88687 7.49867 7.13896 8.61852 8.38384 7.942697.53608 9.11708 8.85268 8.35765 7.90378 9.589659.294988.74547 8.24424 10.03758 9.71225 9.10791 8.55948 6.80519 7.16073 7.48690 7.78615 8.06069 6.49506 6.20652 5.93770 4.32706 6.81369 6.49236 6.19437 4.43922 7.10336 6.74987 6.42355 4.53268 7.36669 6.98187 6.62817 4.61057 7.60608 7.19087 6.81086 4.67547 16 14.71787 17 15.56225 18 16.39827 1917.22601 20 18.04555 14.13126 14.90765 15.67256 16.42617 17.16864 13.57771 14.29187 14.99203 15.67846 16.35143 13.05500 13.71220 14.35336 14.97889 15.58916 12.56110 13.16612 13.75351 14.32380 14.87747 12.09412 12.65132 13.18968 13.70984 14.21240 11.65230 12.16567 12.65930 13.13394 13.59033 11.23402 11.70719 12.15999 12.59329 13.00794 10.83777 10.46216 10.10590 11.27407 10.86461 10.47726 11.68959 11.24607 10.82760 12.08532 11.60765 11.15812 12.46221 11.95038 11.46992 9.44665 8.85137 9.76322 9.12164 10.059099.37189 10.33560 9.60360 10.59401 9.81815 8.31256 7.82371 7.37916 6.97399 4.72956 8.54363 8.02155 7.54879 7.11963 4.77463 8.75563 8.20141 7.70162 7.24967 4.81219 8.95011 8.36492 7.839297.36578 4.84350 9.12855 8.51356 7.96333 7.46944 4.86958 21 25 30 40 18.85698 17.90014 17.01121 16.18455 15.41502 14.69797 14.02916 22.02316 20.71961 19.52346 18.42438 17.41315 16.48151 15.62208 25.80771 24.01584 22.39646 20.93029 19.60044 18.39205 17.29203 32.83469 29.91585 27.35548 25.10278 23.11477 21.35507 19.79277 13.40472 14.82821 16.28889 18.40158 12.82115 12.27524 14.09394 13.41393 15.37245 14.53375 17.1590916.04612 11.76408 12.78336 13.76483 15.04630 10.83553 11.65358 12.40904 13.33171 10.01680 10.67478 11.25778 11.92461 9.29224 8.64869 8.07507 7.56200 4.89132 9.82258 9.07704 8.42174 7.84314 4.94759 10.27365 9.42691 8.69379 8.05518 4.97894 10.75736 9.77905 8.95105 8.24378 4.99660 TABLE 5 Future Value of an Annuity Due of $1 (1 + i)" - 1 X (1+i) FVAD = ni 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 20.0% 1 1.0100 1.0150 1.0200 1.0250 1.0300 1.0350 1.0400 1.0450 1.0500 1.0550 1.0600 1.0700 1.0800 1.0900 1.1000 1.1100 1.1200 1.2000 2 2.0301 2.0452 2.0604 2.0756 2.0909 2.1062 2.1216 2.1370 2.1525 2.1680 2.1836 2.2149 2.2464 2.2781 2.3100 2.3421 2.3744 2.6400 3 3.0604 3.0909 3.1216 3.1525 3.1836 3.2149 3.2465 3.2782 3.3101 3.3423 3.3746 3.4399 3.5061 3.5731 3.6410 3.7097 3.7793 4.3680 4 4.1010 4.1523 4.2040 4.2563 4.3091 4.3625 4.4163 4.4707 4.5256 4.5811 4.6371 4.7507 4.8666 4.9847 5.1051 5.2278 5.3528 6.4416 5 5.1520 5.2296 5.3081 5.3877 5.4684 5.5502 5.6330 5.7169 5.8019 5.8881 5.9753 6.1533 6.3359 6.5233 6.7156 6.9129 7.1152 8.9299 6 6.2135 6.3230 6.4343 6.5474 6.6625 6.7794 6.8983 7.0192 7.1420 7.2669 7.3938 7.6540 7.9228 8.2004 8.4872 8.7833 9.0890 11.9159 7 7.2857 7.4328 7.5830 7.7361 7.8923 8.0517 8.2142 8.3800 8.5491 8.7216 8.8975 9.2598 9.6366 10.0285 10.4359 10.8594 11.2997 15.4991 8 8.3685 8.5593 8.7546 8.9545 9.1591 9.3685 9.5828 9.8021 10.0266 10.2563 10.4913 10.9780 11.4876 12.0210 12.5795 13.1640 13.7757 19.7989 9 9.4622 9.7027 9.9497 10.2034 10.4639 10.7314 11.0061 11.2882 11.5779 11.8754 12.1808 12.8164 13.4866 14.1929 14.9374 15.7220 16.5487 24.9587 10 10.5668 10.8633 11.1687 11.4835 11.8078 12.1420 12.4864 12.8412 13.2068 13.5835 13.9716 14.7836 15.6455 16.5603 17.5312 18.5614 19.6546 31.1504 11 13.6020 14.0258 14.4640 14.9171 15.3856 15.8699 16.8885 17.9771 19.1407 20.3843 21.7132 23.1331 38.5805 12 11.6825 12.0412 12.4121 12.7956 13.1920 12.8093 13.2368 13.6803 14.1404 14.6178 13.9474 14.4504 14.9739 15.5190 16.0863 15.1130 15.6268 16.1599 16.7130 17.2868 17.8821 19.1406 20.4953 21.9534 23.5227 25.2116 27.0291 47.4966 13 16.6770 17.2919 17.9321 18.5986 19.2926 20.0151 21.5505 23.2149 25.0192 26.9750 29.0949 31.3926 58.1959 14 15.0969 15.6821 16.2934 16.9319 17.5989 18.2957 19.0236 19.7841 20.5786 21.4087 22.2760 24.1290 26.1521 28.3609 30.7725 33.4054 36.2797 71.0351 15 16.2579 16.9324 17.6393 18.3802 19.1569 19.9710 20.8245 21.7193 22.6575 23.6411 24.6725 26.8881 29.3243 32.0034 34.9497 38.1899 41.7533 86.4421 16 17.4304 18.2014 19.0121 19.8647 20.7616 21.7050 22.6975 23.7417 24.8404 25.9964 27.2129 29.8402 32.7502 35.9737 39.5447 43.5008 47.8837 104.9306 17 18.6147 19.4894 20.4123 21.3863 22.4144 23.4997 24.6454 25.8551 27.1324 28.4812 29.9057 32.9990 36.4502 40.3013 44.5992 49.3959 54.7497 127.1167 18 19.8109 20.7967 21.8406 22.9460 24.1169 25.3572 26.6712 28.0636 29.5390 31.1027 32.7600 36.3790 40.4463 45.0185 50.1591 55.9395 62.4397 153.7400 19 21.0190 22.1237 23.2974 24.5447 25.8704 27.2797 28.7781 30.3714 32.0660 33.8683 35.7856 39.9955 44.7620 50.1601 56.2750 63.2028 71.0524 185.6880 20 22.2392 23.4705 24.7833 26.1833 27.6765 29.2695 30.9692 32.7831 34.7193 36.7861 38.9927 43.8652 49.4229 55.7645 63.0025 71.2651 80.6987 224.0256 21 23.4716 24.8376 26.2990 27.8629 29.5368 31.3289 33.2480 35.3034 37.5052 39.8643 42.3923 48.0057 54.4568 61.8733 70.4027 80.2143 91.5026 270.0307 25 28.5256 30.5140 32.6709 35.0117 37.5530 40.3131 43.3117 46.5706 50.1135 53.9660 58.1564 67.6765 78.9544 92.3240 108.1818 126.9988 149.3339 566.3773 30 35.1327 38.1018 41.3794 45.0003 49.0027 53.4295 58.3283 63.7524 69.7608 76.4194 180.9434 220.9132 270.2926 1418.2579 83.8017 101.0730 122.3459 148.5752 164.0477 213.6096 279.7810 368.2919 40 49.3752 55.0819 61.6100 69.0876 77.6633 87.5095 98.8265 111.8467 126.8398 144.1189 486.8518 645.8269 859.1424 8812.6294 TABLE 6 Present Value of an Annuity Due of $1 PVAD = (1+1) x (1 + i) ni 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 20.0% 1 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 1.00000 2 1.99010 1.98522 1.98039 1.97561 1.97087 1.96618 1.96154 1.95694 1.95238 1.94787 1.94340 1.93458 1.92593 1.91743 1.90909 1.90090 1.89286 1.83333 3 2.97040 2.95588 2.94156 2.92742 2.91347 2.89969 2.88609 2.87267 2.85941 2.84632 2.83339 2.80802 2.78326 2.75911 2.73554 2.71252 2.69005 2.52778 4 3.94099 3.91220 3.88388 3.85602 3.82861 3.80164 3.77509 3.74896 3.72325 3.69793 3.67301 3.62432 3.57710 3.53129 3.48685 3.44371 3.40183 3.10648 5 4.90197 4.85438 4.80773 4.76197 4.71710 4.67308 4.62990 4.58753 4.54595 4.50515 4.46511 4.38721 4.31213 4.23972 4.16987 4.10245 4.03735 3.58873 6 5.85343 5.78264 5.71346 5.64583 5.57971 5.51505 5.45182 5.38998 5.32948 5.27028 5.21236 5.10020 4.99271 4.88965 4.79079 4.69590 4.60478 3.99061 7 6.79548 6.69719 6.60143 6.50813 6.41719 6.32855 6.24214 6.15787 6.07569 5.99553 5.91732 5.76654 5.62288 5.48592 5.35526 5.23054 5.11141 4.32551 8 7.72819 7.59821 7.47199 7.34939 7.23028 7.11454 7.00205 6.89270 6.78637 6.68297 6.58238 6.38929 6.20637 6.03295 5.86842 5.71220 5.56376 4.60459 9 8.65168 8.48593 8.32548 8.17014 8.01969 7.87396 7.73274 7.59589 7.46321 7.33457 6.97130 6.74664 6.53482 6.33493 6.14612 5.96764 4.83716 7.20979 7.80169 10 9.56602 9.36052 9.16224 8.97087 8.78611 8.60769 8.43533 8.26879 8.10782 7.95220 7.51523 7.24689 6.99525 6.75902 6.53705 6.32825 5.03097 11 10.47130 10.22218 9.98259 9.75206 9.53020 9.31661 9.11090 8.91272 8.72173 8.53763 8.36009 8.02358 7.71008 7.41766 7.14457 6.88923 6.650225.19247 12 11.36763 11.07112 10.78685 10.51421 10.25262 10.00155 9.76048 9.52892 9.30641 9.09254 8.88687 8.49867 8.13896 7.80519 7.49506 7.20652 6.93770 5.32706 13 12.25508 11.90751 11.57534 11.25776 10.95400 10.66333 10.38507 10.11858 9.86325 9.61852 9.38384 8.94269 8.53608 8.16073 7.813697.49236 7.19437 5.43922 14 13.13374 12.73153 12.34837 11.98318 11.63496 11.30274 10.98565 10.68285 10.39357 10.11708 9.85268 9.35765 8.90378 8.48690 8.10336 7.74987 7.42355 5.53268 15 14.00370 13.54338 13.10625 12.69091 12.29607 11.92052 11.56312 11.22283 10.89864 10.58965 10.29498 9.74547 9.24424 8.78615 8.366697.98187 7.62817 5.61057 16 14.86505 14.34323 13.84926 13.38138 12.93794 12.51741 12.11839 11.73955 11.37966 11.03758 10.71225 10.10791 9.55948 9.06069 8.60608 8.19087 7.81086 5.67547 17 15.71787 15.13126 14.57771 14.05500 13.56110 13.09412 12.65230 12.23402 11.83777 11.46216 11.10590 10.44665 9.85137 9.31256 8.82371 8.37916 7.97399 5.72956 18 16.56225 15.90765 15.29187 14.71220 14.16612 13.65132 13.16567 12.70719 12.27407 11.86461 11.47726 10.76322 10.12164 9.54363 9.02155 8.54879 8.11963 5.77463 19 17.39827 16.67256 15.99203 15.35336 14.75351 14.18968 13.65930 13.15999 12.68959 12.24607 11.82760 11.05909 10.37189 9.75563 9.20141 8.70162 8.24967 5.81219 20 18.22601 17.42617 16.67846 15.97889 15.32380 14.70984 14.13394 13.59329 13.08532 12.60765 12.15812 11.33560 10.60360 9.95011 9.36492 8.83929 8.36578 5.84350 21 19.04555 18.16864 17.35143 16.58916 15.87747 15.21240 14.59033 14.00794 13.46221 10.81815 10.12855 9.51356 8.96333 8.46944 5.86958 12.95038 12.46992 11.59401 14.15170 13.55036 12.46933 25 22.24339 21.03041 19.91393 18.88499 17.93554 17.05837 16.24696 15.49548 14.79864 11.52876 10.70661 9.98474 9.34814 8.78432 5.93710 30 26.06579 24.37608 22.84438 21.45355 20.18845 19.03577 17.98371 17.02189 16.14107 15.33310 14.59072 13.27767 12.15841 11.19828 10.36961 9.65011 9.02181 5.97472 40 33.16303 30.36458 27.90259 25.73034 23.80822 22.10250 20.58448 19.22966 18.01704 16.92866 15.94907 14.26493 12.87858 11.72552 10.75696 9.93567 9.23303 5.99592 Clark Industries has a defined benefit pension plan that specifies annual, year-end retirement benefits equal to: 1.2% x Service years x Final year's salary Stanley Mills was hired by Clark at the beginning of 2002. Mills is expected to retire at the end of 2046 after 45 years of service. His retirement is expected to span 15 years. At the end of 2021, 20 years after being hired, his salary is $87,000. The company's actuary projects Mills's salary to be $340,000 at retirement. The actuary's discount rate is 6%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. Estimate the amount of Stanley Mills's annual retirement payments for the 15 retirement years earned as of the end of 2021. 2. Suppose Clark's pension plan permits a lump-sum payment at retirement in lieu of annuity payments. Determine the lump-sum equivalent as the present value as of the retirement date of annuity payments during the retirement period. 3. What is the company's projected benefit obligation at the end of 2021 with respect to Stanley Mills? 4. Even though pension accounting centers on the PBO calculation, the ABO still must be disclosed in the pension disclosure note. What is the company's accumulated benefit obligation at the end of 2021 with respect to Stanley Mills? 5. If we assume no estimates change in the meantime, what is the company's projected benefit obligation at the end of 2022 with respect to Stanley Mills? 6. What portion of the 2022 increase in the PBO is attributable to 2022 service (the service cost component of pension expense) and to accrued interest (the interest cost component of pension expense)? (For all requirements, round final answers to the nearest whole dollars.) 1. Annual retirement payments 2. PV of retirement annuity 3. Projected benefit obligation 4. Accumulated benefit obligation 5. Projected benefit obligation 6. Interest cost Service cost