TABLE 12-2 Present Value (Amount) of an Ordinary Annuity of $1 Periods 1% 2% 1 0.99502 0.99010 0.98522 2 1.98510 1.97040 3% 4% 5% 0.98039 0.97087 0.96154 0.95238 1.95588 1.94156 1.91347 188609 1.85941 3 297025 2.94099 4 3.95050 3.90197 S 4.92587 4.85343 6% 7% 8% Periods 094340 0.93458 0.92593 1.83339 1.80802 1.78326 2.91220 2.88388 282861 2.77509 2.72325 2.67301 2.62432 2.57710 3.85438 3.80773 3.71710 3.62990 3.54595 3.46511 3.38721 3.31213 4.78264 4.71346 4.57971 4.45182 4.32948 4.21236 4.10020 3.99271 2 3 4 5 6 5.89638 5.79548 7 8 9 10 5.69719 5.60143 5.41719 5.24214 5.07569 4.91732 4.76654 4.62288 6.86207 6.72819 6.59821 6.47199 6.23028 6.00205 5.78637 5.58238 5.38929 5.20637 7.82296 7.65168 7.48593 7.32548 7.01969 6.73274 6.46321 6.20979 5.97130 5.74664 8.77906 8.56602 8.36052 8.16224 7.78611 7.43533 7.10782 9.73041 9.47130 9.22218 8.98259 8.53020 8.11090 7.72173 6.80169 6.51523 6.24689 7.36009 7.02358 6.71008 10 67890 11 10.67703 10.36763 10.07112 9.78685 12 11.61893 11.25508 10.90751 10.57534 9.25262 9.95400 8.76048 8.30641 7.88687 7.49867 7.13896 11 13 14 15 9.38507 8.86325 8.38384 7.94269 753608 12.55615 12.13374 11.73153 11.34837 10.63496 9.98565 9.39357 8.85268 8.35765 7.90378 13.48871 13.00370 12.54338 12.10625 11.29607 10.56312 9.89864 9.29498 8.74547 8.24424 14 14.41662 13.86505 13.34323 13.84926 11.93794 11.11839 10.37966 9.71225 9.10791 12 13 8.55948 15 GEGE 16 17 18 19 20 15.33993 14.71787 14.13126 13.57771 12.56110 11.65230 1083777 10.10590 9.44665 16.25863 15.56225 14.90765 14.29187 13.16612 12.16567 1127407 10.47726 9.76122 9.12164 17.17277 16.39827 15.67256 14.99203 13.75351 1265930 1168959 10.82760 10.05909 9.37189 18.08236 17.22601 16.42617 15.67846 14.32380 1313394 12.08532 11.15812 10.33560 9.60360 18.98742 18.04555 17.16864 1635143 1487747 13.59033 12.46221 11.46992 10.59401 9.81815 8.85137 16 17 18 19 20 21 22 agaza 23 24 25 26 27 ANAAR 28 29 30 21 25 19.88798 18.85698 17.90014 17.01121 15.41502 14:02916 12.82115 1176408 10.83553 10.01680 22 20.78406 19.66038 18.62082 17.65805 15.93692 14.45112 13.16300 12.04158 11.06124 10.20074 23 21.67568 20.45582 19.33086 18.29220 16.44361 14.85684 13-48857 12 30338 11.27219 10.37106 24 22.56287 21.24339 20.03041 18.91393 1693554 15.24696 13.79864 12.55036 11.46033 10.52876 23.44564 22.02316 20.71961 19.52346 17.41315 15.62208 14.09394 12.78336 11.65358 10.67478 26 24.32402 22.79520 21.39863 20.12104 17.87684 1598277 14.37519 13.00317 11.82578 10.80998 27 25.19803 23.55961 22.06762 20.70690 18.32703 16.32959 14.64303 13.21053 11.98671 10.93516 26.06769 24.31644 22.72672 21.28127 1876411 16.66306 14.89813 13.40616 12.13711 11.05108 26.93302 25.06579 2337608 21.84438 19/18845 16.98371 15.14107 13.59072 12.27767 11.15841 30 27.79405 25.80771 2401584 22.39646 19.60044 17.29203 15.37245 13.76483 12.40904 11.25778 29 31 32 33 34 35 36 28.65080 2654229 24.64615 22.93770 20.00043 17.58849 15.59281 13.92909 12.53181 11.34980 29.50328 27.26959 25.26714 2346833 20.38877 17.87355 15.80268 14.08404 12.64656 11.43500 30.35153 27.98969 25.87895 23.98856 20.76579 18.14765 16.00255 14.23023 12.75379 11.51389 31.19555 28.70267 26.48173 24.49859 21.13184 1841120 16.19290 1436814 12.85401 11.58693 3201537 29.40858 27.07559 24.99862 21.48722 18.66461 16.37419 14.49825 12.94767 11.65457 32.87102-30.10751 27.66068 25.48884 21.83225 18.90828 16.54685 14.62099 13.03521 11.71719 31 32 33 34 35 2 36 TABLE 12-2 Present Value (Amount) of an Ordinary Annuity of $1 (Continued) Periods 9% 1 10% 0.91743 0.90909 2 1.75911 1.73554 3 233129 248683 232163 4 3.23972 3.16987 3.10245 S 3.88965 3.79079 3.69590 11% 12% 13% 14% 15% 17% 18% 0.90090 0.89286 0.88496 0.87719 0.86957 0.85470 0.84746 1.71252 1.69005 1.66810 1.64666 1.62571 1.60523 1.58521 1.56564 2.443/1 240183 2.36113 228325 L24389 LAPOS 211427 3.03735 2.97447 2.91371 2.85498 2.79818 2.74324 2.69006 3.60478 3.51723 3.43308 3.35216 3.27429 3.19935 3.12717 16% 0.86207 Periods 1 2 3 4 3 10 61499 7 4.48592 4.35526 4.23054 4.71220 4.11141 5.03295 4.86842 4.56376 4.42261 4.28830 4.16042 4.03857 3.92238 3.81153 5.53482 5.33493 5.14612 4.96764 4.79877 4.63886 4.48732 4.34359 4.20716 4.07757 5.99525 5.75902 5.53705 5.32825 5.13166 4.94637 477158 4.60654 4.45057 4.30302 6.41766 6.14457 5.88923 5.65022 5.42624 5.21612 5.01877 4.83323 4.65860 4.49409 3.99755 3.88867 3.78448 3.68474 3.58918 3.49760 10 67890 11 6.80519 6.49506 12 13 14 15 6.20652 5.93770 5.68694 545273 7.16073 6.81369 6.49236 6.19437 5.91765 5.66029 7.48690 7.10336 6.74987 6.42355 6.12181 7.78615 7.36669 6.98187 6.62817 6.30249 8.06069 7.60608 7.19087 6.81086 6.46238 5:23371 5.02864 4.83641 542062 5.19711 4.98839 5.84236 5.58315 5.34233 5.11828 6.00207 5.72448 6.14217 5.84737 5.57546 5.32419 5.09158 4.65601 11 4.79322 12 4.90951 13 5.467535.22930 5.00806 14 15 16 17 18 19 20 8.31256 7.82371 7.37916 697399 6.60388 6.26506 5.95423 5.66850 5.40529 5.16235 8.54363 8.02155 7.54879 7.11963 6.72909 6.37286 604716 5.74870 5.47461 5.22233 8.75563 8.20141 7.70162 7.24967 683991 646742 6.12797 5.81785 553385 5.27316 8.95011 836492 783929 7.36578 693797 655037 6.19823 5.87746 538449 5.31624 9.12855 8.51356 7.96333 7.46944 7.02475 6.62313 625933 592884 562777 5.35275 21 22 23 24 25 26 9.29224 8.64869 8.07507 7.56200 7.10155 6.68606 631246 597314 5.66476 5.38368 944243 8.77154 8.17574 7.64465 7.16951 6.74294 6.35866 601133 5.69637 5.40990 9.58021 8.88322 8.26643 7.71843 7.22966 6.79206 639884 604425 5.72340 543212 9.70661 8.98474 834814 7.78432 7.28288 6.83514 643377 6.07263 5.74649 5.430 9.82258 9.07704 8.42174 7.84314 7.32998 687293 646415 609709 5.76623 346@h 9.92897 9.16095 8.48806 7.89566 7.37167 6.90608 640056 611818 5.78311 5.48043 27 10.02658 9.23722 28 29 30 8.54780 7.94255 7.40856 691515 651353 6.13636 5.79753 549189 10.11613 9.30657 8.60162 7.98442 744120 696066 653351 615204 5.80985 5.50160 10.19828 9.36961 8.65011 8.02181 747009 6.98304 655088 E16555 5.82039 5.50983 10.27365 9.42691 869379 805518 749565 7.00266 636598 6.17730 5.82939 5.51681 31 132 34 === 10.34280 9.47901 8.73315 8.08499 751828 7.019x8 10.40624 9.52638 8.76860 811159 7.53830 703498 33 35 36 657911 6.18724 583709 5.52272 6.59053 6.19590 5.84366 5.52773 10.46444 9.56943 880054 8.13535 7.55602 7,64823 6.60046 20136 10.51784 9.60KST 8.82932 8.15656 7.57170 705985 660910 620979 10.56682 964416 8.85524 8.17550 7.58557 7.07005 661661 621534 1061176 9.67651 8.87859 8.19241 759785 7.67899 662314 622012 5.84928 553197 585409 5.53557 585820 5.53862 22228 ARA ARAS 229 17 22 26 29 30 32 5.36171 5.54120 Use Table 12-2 to calculate the present value (in $) of the ordinary annuity. (Round your answer to the nearest cent.) Annuity Payment Time Payment Frequency Period (years) $4,000 every year 20 Nominal Rate (%) Interest Compounded Present Value of the Annuity annually Suppose that your bank pays 6% interest, compounded quarterly. Use Table 12-2 to find how much should be deposited now to yield an annuity payment of $1,300 at the end of each three months, for 3 years. (Round your answer to the nearest cent.)