The Smiths save $16,000 per year for retirement. They are now in their mid-thirties, and they expect to have $1 million in today's dollars saved by the time they're in their mid-sixties. If their market interest rate is 5% per year, inflation averages 1% a year, and they save for 30 years, is their financial plan possible? The purchasing power in today's dollars of the Smiths' savings is $ thousand. (Round to two decimal places.) Discrete Compounding; i = 1% Single Payment Uniform Series Compound Compound Capital Amount Present Amount Present Sinking Fund Recovery Factor Worth Factor Factor Worth Factor Factor Factor To Find F To Find P To Find F To Find P To Find A To Find A Given P. Given F Given A Given A Given F Given P F/P P/F FIA PIA A/F A/P 1.0510 0.9515 5.1010 4.8534 0.1960 0.2060 1.1046 0.9053 10.4622 9.4713 0.0956 0.1056 1.1610 0.8613 16.0969 13.8651 0.0621 0.0721 1.2202 0.8195 22.0190 18.0456 0.0454 0.0554 1.2824 0.7798 28.2432 22.0232 0.0354 0.0454 1.3478 0.7419 34.7849 25.8077 0.0287 0.0387 1.4166 0.7059 41.6603 29.4086 0.0240 0.0340 1.4889 0.6717 48.8864 32.8347 0.0205 0.0305 1.5648 0.6391 56.4811 36.0945 0.0177 0.0277 1.6446 0.6080 64.4632 39.1961 0.0155 0.0255 10 15 20 25 30 35 40 45 50 Capital Recovery Factor To Find A Given P N A/P Discrete Compounding; 1= 5% Single Payment Uniform Series Compound Compound Sinking Amount Present Amount Present Fund Factor Worth Factor Factor Worth Factor Factor To Find F To Find P To Find F To Find P To Find A Given P Given F Given A Given A Given F F/P P/F FIA PIA A/F 1.2763 0.7835 5.5256 4.3295 0.1810 1.6289 0.6139 12.5779 7.7217 0.0795 2.0789 0.4810 21.5786 10.3797 0.0463 2.6533 0.3769 33.0660 12.4622 0.0302 3.3864 0.2953 47.7271 14.0939 0.0210 4.3219 0.2314 66.4388 15.3725 0.0151 5.5160 0.1813 90.3203 16.3742 0.0111 7.0400 0.1420 120.7998 17.1591 0.0083 8.9850 0.1113 159.7002 17.7741 0.0063 11.4674 0.0872 209.3480 18.2559 0.0048 10 15 20 25 0.2310 0.1295 0.0963 0.0802 0.0710 0.0651 0.0611 0.0583 0.0563 0.0548 30 35 40 45 50 The Smiths save $16,000 per year for retirement. They are now in their mid-thirties, and they expect to have $1 million in today's dollars saved by the time they're in their mid-sixties. If their market interest rate is 5% per year, inflation averages 1% a year, and they save for 30 years, is their financial plan possible? The purchasing power in today's dollars of the Smiths' savings is $ thousand. (Round to two decimal places.) Discrete Compounding; i = 1% Single Payment Uniform Series Compound Compound Capital Amount Present Amount Present Sinking Fund Recovery Factor Worth Factor Factor Worth Factor Factor Factor To Find F To Find P To Find F To Find P To Find A To Find A Given P. Given F Given A Given A Given F Given P F/P P/F FIA PIA A/F A/P 1.0510 0.9515 5.1010 4.8534 0.1960 0.2060 1.1046 0.9053 10.4622 9.4713 0.0956 0.1056 1.1610 0.8613 16.0969 13.8651 0.0621 0.0721 1.2202 0.8195 22.0190 18.0456 0.0454 0.0554 1.2824 0.7798 28.2432 22.0232 0.0354 0.0454 1.3478 0.7419 34.7849 25.8077 0.0287 0.0387 1.4166 0.7059 41.6603 29.4086 0.0240 0.0340 1.4889 0.6717 48.8864 32.8347 0.0205 0.0305 1.5648 0.6391 56.4811 36.0945 0.0177 0.0277 1.6446 0.6080 64.4632 39.1961 0.0155 0.0255 10 15 20 25 30 35 40 45 50 Capital Recovery Factor To Find A Given P N A/P Discrete Compounding; 1= 5% Single Payment Uniform Series Compound Compound Sinking Amount Present Amount Present Fund Factor Worth Factor Factor Worth Factor Factor To Find F To Find P To Find F To Find P To Find A Given P Given F Given A Given A Given F F/P P/F FIA PIA A/F 1.2763 0.7835 5.5256 4.3295 0.1810 1.6289 0.6139 12.5779 7.7217 0.0795 2.0789 0.4810 21.5786 10.3797 0.0463 2.6533 0.3769 33.0660 12.4622 0.0302 3.3864 0.2953 47.7271 14.0939 0.0210 4.3219 0.2314 66.4388 15.3725 0.0151 5.5160 0.1813 90.3203 16.3742 0.0111 7.0400 0.1420 120.7998 17.1591 0.0083 8.9850 0.1113 159.7002 17.7741 0.0063 11.4674 0.0872 209.3480 18.2559 0.0048 10 15 20 25 0.2310 0.1295 0.0963 0.0802 0.0710 0.0651 0.0611 0.0583 0.0563 0.0548 30 35 40 45 50