Table 12-1:

A:

B:

C:

(1 + 1)" - 1 The values in Table 12-1 were generated by the formula and rounded to five decimal places, where i is the interest i rate per period and n is the total number of periods. TABLE 12-1 Future Value (Amount) of an Ordinary Annuity of $1 (Continued) Periods 9% 10% 11% 12% 13% 14% 15% 16% 1 1.00000 1.00000 1.00000 1.00000 1.00000 2 1.00000 2.10000 3.31000 2.11000 18% Period: 1.00000 1 2.18000 2 3.57240 3 2.12000 2.13000 1.00000 2.09000 3.27810 4.57313 5.98471 1.00000 2.14000 3.43960 2.15000 17% 1.00000 2.17000 3.53890 5.14051 7.01440 2.16000 3.50560 3 3.37440 3.40690 3.47250 4.99338 4 3.34210 4.70973 6.22780 4.64100 4.92114 4 4.77933 6.35285 4.84980 6.48027 5.06650 6.87714 5.21543 7.15421 5 6.10510 6.61010 6.74238 5 6 8.75374 8.97748 9.20685 6 9.44197 12.14152 7 11.06680 11.41387 7 7.52333 7.71561 7.91286 8.11519 8.32271 8.53552 9.20043 9.48717 9.78327 10.08901 10.40466 10.73049 11.02847 11.43589 11.85943 12.29969 12.75726 13.23276 13.02104 13.57948 14.16397 14.77566 15.41571 16.08535 15.19293 15.93742 16.72201 17.54874 18.41975 19.33730 11.77201 14.77325 8 14.24009 15.32700 8 13.72682 16.78584 9 17.51851 18.28471 19.08585 9 10 20.30372 21.32147 22.39311 23.52131 10 11 24.34928 27.19994 28.75514 11 12 29.00167 32.82393 34.93107 12 13 17.56029 18.53117 19.56143 20.65458 21.81432 23.04452 20.14072 21.38428 22.71319 24.13313 25.65018 27.27075 22.95338 24.52271 26.21164 28.02911 29.98470 32.08865 26.01919 27.97498 30.09492 32.39260 34.88271 37.58107 29.36092 31.77248 34.40536 37.27971 40.41746 43.84241 34.35192 25.73290 30.85017 36.78620 43.67199 51.65951 42.21866 13 39.40399 47.10267 14 50.81802 14 40.50471 47.58041 15 56.11013 60.96527 15 16 60.92503 72.93901 16 33.00340 35.94973 39.18995 42.75328 46.67173 50.98035 36.97370 40.54470 44.50084 48.88367 53.73906 59.11760 55.71747 65.07509 66.64885 78.97915 17 71.67303 87.06804 17 18 19 41.30134 45.59917 50.39594 55.74971 61.72514 68.39407 75.83636 84.14072 93.40561 103.74028 18 46.01846 51.15909 56.93949 63.43968 70.74941 78.96923 88.21181 98.60323 110.28456 123.41353 19 51.16012 57.27500 64.20283 72.05244 80.94683 91.02493 102.44358 115.37975 130.03294 146.62797 20 20 21 22 23 56.76453 64.00250 72.26514 81.69874 92.46992 104.76842 118.81012 134.84051 153.13854 174.02100 21 62.87334 71.40275 81.21431 92.50258 105.49101 120.43600 137.63164 157.41499 180.17209 206.34479 22 69.53194 79.54302 91.14788 104.60289 120.20484 138.29704 159.27638 183.60138 211.80134 244.48685 23 76.78981 88.49733 102.17415 118.15524 136.83147 158.65862 184.16784 213.97761 248.80757 289.49448 24 84.70090 98.34706 114.41331 133.33387 155.61956 181.87083 212.79302 249.21402 292.10486 342.60349 25 24 25 26 27 28 93.32398 109.18177 127.99877 150.33393 176.85010 208.33274 245.71197 290.08827 342.76268 405.27211 26 102.72313 121.09994 143.07864 169.37401 200.84061 238.49933 283.56877 337.50239 402.03234 479.22109 27 112.96822 134.20994 159.81729 190.69889 227.94989 272.88923 327.10408 392.50277 471.37783 566.48089 28 124.13536 148.63093 178.39719 214.58275 258.58338 312.09373 377.16969 456.30322 552.51207 669.44745 29 136.30754 164.49402 199.02088 241.33268 293.19922 356.78685 434.74515 530.31173 647.43912 790.94799 30 29 30 31 32 33 149.57522 181.94342 221.91317 271.29261 332.31511 407.73701 500.95692 616.16161 758.50377 934.31863 31 164.03699 201.13777 247.32362 304.84772 376.51608 465.82019 577.10046 715.74746 888.44941 1103.49598 32 179.80032 222.25154 275.52922 342.42945 426.46317 532.03501 664.66552 831.26706 1040.48581 1303.12526 33 196.98234 245.47670 306.83744 384.52098 482.90338 607.51991 765.36535 965.26979 1218.36839 1538.68781 34 215.71075 271.02437 341.58955 431.66350 546.68082 693.57270 881.17016 1120.71295 1426.49102 1816.65161 35 236.12472 299.12681 380.16441 484.46312 618.74933 791.67288 1014.34568 1301.02703 1669.99450 2144.64890 36 34 35 36 Your bank pays 8% interest, compounded semiannually. Use Table 12-1 to find the future value (in $) of $500 deposited at the beginning of every six months, for 17 years. (Round your answer to the nearest cent.) $ 34928.95 x Use Table 12-1 to solve. Suppose a certain manufacturer deposits $7,000 at the beginning of each 3 month period for 8 years in an account paying 8% interest compounded quarterly. (Round your answers to the nearest cent.) (a) How much (in $) will be in the account at the end of the 8 year period? $ 284818 x (b) What is the total amount (in $) of interest earned in this account? $ 60818 x Choi Home Repair needs to accumulate $24,000 in 6 years to purchase new equipment. What sinking fund payment (in $) would they need to make at the end of each three months, at 8% interest compounded quarterly? Use Table 12-1. (Round your answer to the nearest cent.) $ 789 x