Table 1: Present value of R1 APPENDIX 1 Number of Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 25% 1 0.9901 0.9804 2 0.9709 0.9615 0.9524 0.9434 0.9803 0.9612 0.9426 0.9246 0.9070 0.8900 3 0.9706 0.9423 0.9151 0.8890 4 5 0.9610 0.9238 0.8885 0.8548 0.9515 0.9057 0.8626 0.8219 0.8638 0.8396 0.8227 0.7921 0.7835 0.7473 0.9346 0.9259 0.9174 0.9091 0.9009 0.8929 0.8850 0.8772 0.8734 0.8573 0.8417 0.8264 0.8116 0.7972 0.7831 0.7695 0.8163 0.7938 0.7722 0.7513 0.7312 0.7118 0.6931 0.6750 0.6575 0.6407 0.6244 0.6086 0.5934 0.5787 0.5120 0.7629 0.7350 0.7084 0.6830 0.6587 0.6355 0.6133 0.5921 0.5718 0.5523 0.5337 0.5158 0.4987 0.4823 0.4096 0.7130 0.6806 0.6499 0.6209 0.5935 0.5674 0.5428 0.5194 0.4972 0.4761 0.4561 0.4371 0.4190 0.4019 0.3277 0.8696 0.8621 0.8547 0.8475 0.8403 0.8333 0.8000 0.7561 0.7432 0.7305 0.7182 0.7062 0.6944 0.6400 6 0.9420 7 0.9327 8 0.9235 9 0.9143 10 0 8880 0.8375 0.7903 0.7462 0.7050 0.6663 0.8706 0.8131 0.7599 0.7107 0.6651 0.6227 0.8535 0.7894 0.7307 0.6768 0.6274 0.5820 0.8368 0.7664 0.7026 0.6446 0.5919 0.5439 0.9053 0.8203 0.7441 0.6756 0.6139 0.5584 0.5083 0.4632 0.4224 0.3855 0.6302 0.5963 0.5645 0.5346 0.5066 0.4803 0.4556 0.4323 0.4104 0.5835 0.5470 0.5132 0.4817 0.4523 0.4251 0.3996 0.3759 0.3538 0.5403 0.5019 0.4665 0.4339 0.4039 0.3762 0.3506 0.3269 0.5002 0.4604 0.4241 0.3909 0.3606 0.3329 0.3075 0.2843 0.3522 0.3220 0.2946 0.2697 0.2472 0.3050 0.2630 0.2267 0.2848 0 2434 0.3898 0.3704 0.3521 0.3349 0.2621 0.3332 0.3139 0.2959 0.2791 0.2097 0.2660 0.2487 0.2326 0.1678 0.2255 0.2090 0.1938 0.1342 0.2080 0.1911 0.1756 0.1615 0.1074 11 12 13 14 15 0.8963 0.8043 0.7224 0.6496 0.5847 0.5268 0.4751 0.4289 0.3875 0.3505 0.3173 0.2875 0.2607 0.2366 0.2149 0.1954 0.1778 0.1619 0.1476 0.1346 0.0859 0.8874 0.7885 0.7014 0.6246 0.5568 0.4970 0.4440 0.3971 0.3555 0.3186 0.2858 0.2567 0.2307 0.2076 0.1869 0.1685 0.1520 0.1372 0.1240 0.1122 0.0687 0.8787 0.7730 0.6810 0.6006 0.5303 0.4688 0.4150 0.3677 0.3262 0.2897 0.2575 0.2292 0.2042 0.1821 0.1625 0.1452 0.1299 0.1163 0.1042 0.0935 0.0550 0.8700 0.7579 0.6611 0.5775 0.5051 0.4423 0.3878 0.3405 0.2992 0.2633 0.2320 0.2046 0.1807 0.1597 0.1413 0.1252 0.1110 0.0985 0.0876 0.0779 0.0440 0.8613 0.7430 0.6419 0.5553 0.4810 0.4173 0.3624 0.3152 0.2745 0.2394 0.2090 0.1827 0.1599 0.1401 0.1229 0.1079 0.0949 0.0835 0.0736 0.0649 0.0352 16 17 18 19 20 0.8528 0.7284 0.6232 0.5339 0.4581 0.3936 0.3387 0.2919 0.2519 0.8444 0.7142 0.6050 0.5134 0.4363 0.3714 0.3166 0.2703 0.2311 0.8360 0.7002 0.5874 0.4936 0.4155 0.3503 0.2959 0.2502 0.2120 0.8277 0.6864 0.5703 0.4746 0.3957 0.3305 0.2765 0.2317 0.1945 0.8195 0.6730 0.5537 0.4564 0.3769 0.3118 0.2584 0.2145 0.1784 0.2176 0.1883 0.1631 0.1415 0.1229 0.1069 0.0930 0.0811 0.0708 0.0618 0.0541 0.0281 0.1978 0.1696 0.1456 0.1252 0.1078 0.0929 0.0802 0.0693 0.0600 0.0520 0.0451 0.0225 0.1799 0.1528 0.1300 0.1108 0.0946 0.0808 0.0691 0.0592 0.0508 0.0437 0.0376 0.0180 0.1635 0.1377 0.1161 0.0981 0.0829 0.0703 0.0596 0.0506 0.0431 0.0367 0.0313 0.0144 0.1486 0.1240 0.1037 0.0868 0.0728 0.0611 0.0514 0.0433 0.0365 0.0308 0.0261 0.0115 25 30 40 0.6717 0.4529 0.3066 0.2083 50 60 0.7798 0.6095 0.4776 0.3751 0.2953 0.2330 0.1842 0.1460 0.1160 0.0923 0.0736 0.0304 0.0245 0.0197 0.0160 0.0129 0.0105 0.0038 0.7419 0.5521 0.4120 0.3083 0.2314 0.1741 0.1314 0.0994 0.0754 0.0573 0.0334 0.0256 0.0196 0.0151 0.0116 0.0090 0.0070 0.0054 0.0042 0.0012 0.1420 0.0972 0.0668 0.0460 0.0318 0.0221 0.0154 0.0107 0.0075 0.0053 0.0037 0.0026 0.0019 0.0013 0.0010 0.0007 0.0001 0.6080 0.3715 0.2281 0.1407 0.0872 0.0543 0.0339 0.0213 0.0134 0.0085 0.0054 0.0035 0.0022 0.0014 0.0009 0.0006 0.0004 0.0003 0.0002 0.0001 0.5504 0.3048 0.1697 0.0951 0.0535 0.0303 0.0173 0.0099 0.0057 0.0033 0.0019 0.0011 0.0007 0.0004 0.0002 0.0001 0.0001 0.0588 0.0471 0.0378 APPENDIX 2 Table 2 : Present value of a regular annuity of R1 per period for n periods Number of 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% Periods 2 4 5 0.9901 0.9804 0.9709 0.9615 0.9524 0.9434 0.9346 0.9259 0.9174 0.9091 0.9009 0.8929 0.8850 0.8772 0.8696 0.8621 0.8547 0.8475 0.8403 0.8333 1.9704 1.9416 1.9135 1.8861 1.8594 1.8334 1.8080 1.7833 1.7591 1.7355 1.7125 1.6901 1.6681 1.6467 1.6257 1.6052 1.5852 1.5656 1.5465 1.5278 2.9410 2.8839 2.8286 2.7751 2.7232 2.6730 2.6243 2.5771 2.5313 2.4869 2.4437 2.4018 2.3612 2.3216 2.2832 2.2459 2.2096 2.1743 2.13991 2.1065 3.9020 3.8077 3.7171 3.6299 3.5460 3.4651 3.3872 3.3121 3.2397 3.1699 3.1024 3.0373 2.9745 2.9137 2.8550 2.7982 2.7432 2.6901 2.6386 2.5887 4.8534 4.7135 4.5797 4.4518 4.3295 4.2124 4.1002 3.9927 3.8897 3.7908 3.6959 3.6048 3.5172 3.4331 3.3522 3.2743 3.1993 3.1272 3.0576 2.9906 6 7 8 9 10 5.7955 5.6014 5.4172 5.2421 5.0757 4.9173 4.7665 4.6229 6.7282 6.4720 6.2303 6.0021 5.7864 5.5824 5.3893 5.2064 7.6517 7.3255 7.0197 6.7327 6.4632 6.2098 5.9713 5.7466 8.5660 8.1622 7.7861 7.4353 7.1078 6.8017 6.5152 6.2469 9.4713 8.9826 8.5302 8.1109 7.7217 7.3601 7.0236 6.7101 11 12 13 14 13.0037 12.1062 11.2961 10.5631 9.8986 9.2950 15 13.8651 12.8493 11.9379 10.3676 9.7868 9.2526 8.7605 8.3064 7.8869 7.4987 7.1390 11.2551 10.5753 9.9540 9.3851 8.8633 8.3838 7.9427 7.5361 12.1337 11.3484 10.6350 9.9856 9.3936 8.8527 8.3577 7.9038 8.7455 8.2442 8.5595 11.1184 10.3797 9.7122 9.1079 16 14.7179 13.5777 12.5611 17 15.5623 14.2919 13.1661 11.6523 10.8378 10.1059 9.4466 8.8514 12.1657 11.2741 10.4773 9.7632 9.1216 18 19 20 18.0456 16.3514 14.8775 13.5903 12.4622 16.3983 14.9920 13.7535 12.6593 11.6896 10.8276 10.0591 9.3719 17.2260 15.678. 14.3238 13.1339 12.0853 11.1581 10.3356 9.6036 11.4699 10.5940 9.8181 25 30 40 50 60 22.0232 19.5235 17.4131 15.6221 14.0939 6.8052 6.4951 6.2065 7.1607 6.8137 6.4924 7.4869 7.1034 6.7499 7.7862 7.3667 6.9819 8.0607 7.6061 7.1909 3.7845 3.6847 3.5892 3.4976 3.4098 3.3255 4.1604 4.0386 3.9224 3.8115 3.7057 3.6046 4.4873 4.3436 4.2072 4.0776 3.9544 3.8372 4.9464 4.7716 4.6065 4.4506 4.3038 4.1633 4.0310 5.2161 5.0188 4.8332 4.6586 4.4941 4.3389 4.1925 5.9377 5.6869 5.4527 5.2337 5.0286 4.8364 4.6560 4.4865 4.3271 6.1944 5.9176 5.6603 5.4206 5.1971 4.9884 4.7932 4.6105 4.4392 6.4235 6.1218 5.8424 5.5831 5.3423 5.1183 4.9095 4.7147 4.5327 6 6282 6.3025 6.0021 5.7245 5.4675 5.2293 5.0081 4.8023 4.6106 6.8109 6.4624 6.1422 5.8474 5.5755 5.3242 5.0916 4.8759 4.6755 8.3126 7.8237 7.3792 6.9740 6.6039 6.2651 5.9542 5.6685 5.4053 5.1624 4.9377 4.7296 8.5436 8.0216 7.5488 7.1196 6.7291 6.3729 6.0472 5.7487 5.4746 5.2223 4.9897 4.7746 8.7556 8.2014 7.7016 7.2497 6.8399 6.4674 6.1280 5.8178 5.5339 5.2732 5.0333 4.8122 8.9501 8.3649 7.8393 6.9380 6.5504 6.1982 5.8775 5.5845 5.3162 5.0700 4.8435 9.1285 8.5136 7.9633 7.4694 7.0248 6.6231 6.2593 5.9288 5.6278 5.3527 5.1009 4.8696 8.4217 7.8431 7.3300 6.8729 6.4641 6.0971 12.7834 11.6536 10.6748 9.8226 9.0770 5.7662 5.4669 5.1951 4.9476 25.8077 22.3965 19.6004 17.2920. 15.3725 13.7648 12.4090 11.2578 10.2737 9.4269 8.6938 8.0552 7.4957 7.0027 6.5660 6.1772 5.8294 5.5168 5.2347 4.9789 32.8347 27.3555 23.1148 19.7928 17.1591 15.0463 13.3317 11.9246 10.7574 9.7791 8.9511 8.2438 7.6344 7.1050 6.6418 6.2335 5.8713 5.5482 5.2582 4.9966 39.1961 31.4236 25.7298 21.4822 18.2559 15.7619 13.8007 12.2335 10.9617 9.9148 9.0417 8.3045 7.6752 7.1327 6.6605 6.2463 5.8801 5.5541 5.2623 4.9995 44.9550 34.7609 27.6756 22.6235 18.9293 16.1614 14.0392 12.3766 11.0480 9.9672 9.0736 8.3240 7.6873 7.1401 6.6651 6.2402 5.8819 5.5553 5.2630 4.9999 4.4859 4.3553 4.2305 4.1114 3.9975 3.8887 5.0330 4.8684 4.7122 4.5638 4.4226 4.2883 5.5348 5.3349 5.1461 4.9676 4.7988 4 6389 5.9952 5.7590 5.5370 5.3282 5.1317 6.4177 6.1446 5.8892 5.6502 5.4262 9