Grenchen wants to take the next five years off work to travel around the world. She estimates her annual cash needs at $32,000 if she needs more, she will work odd jobs) Gretchen believes she can invest her savings at 10% un the deplete ir fund Click the view Present Value of $1 table) Future Value of $1 sat) Click the icon to view Present Value of Ordinary Annuity of 11 ) Click on to view Future Value of Ordinary Annuity of $1 table) Read the aument Requirement 1. How much money does Gretchen need to fund her travels? (Round your answer to the nearest whole dolar) with the 10% interest rate Gretchen needs Requirements 1. How much money does Gretchen need now to fund her t 2. Ar speaking with a number of banks, Gretchen leams she will only be able to invest her funds at 6% How much does she need now to fund her ? Print Done Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 7% 12% 14% 15% 16% 18% 20% 10% 9% 0.917 0.909 0.893 Period 1 0.990 0.980 0.971 0.962 0.952 0.877 0.870 0.862 0.847 0.833 0.943 0.943 0.925 0.907 0.890 Period 2 0.980 0.961 Period 3 0.971 0.942 Period 4 0.552 0.516 0.482 Period 5 0.497 0.476 0.437 0.402 8% 0.935 0.926 0.873 0.857 0.842 0.826 0.797 0.769 0.756 0.743 0.718 0.694 0.915 0.889 0.864 0.840 0.816 0.794 0.772 0.751 0.712 0.675 0.658 0.641 0.609 0.579 0.961 0.924 0.888 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.636 0.592 0.572 0.951 0.906 0.863 0.822 0.784 0.747 0.713 0.681 0.650 0.621 0.567 0.519 0.942 0.888 0.837 0.790 0.746 0.705 0.666 0.630 0.596 0.564 0.507 0.456 0.933 0.871 0.813 0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.452 0.400 0.376 0.354 0.314 0.279 0.923 0.853 0.789 0.731 0.677 0.627 0.582 0.540 0.502 0.467 0.404 0.351 0.327 0.305 0.266 0.233 0.914 0.837 0.766 0.703 0.645 0.592 0.544 0.500 0.460 0.424 0.361 0.308 0.284 0.263 0.225 0.194 0.905 0.820 0.744 0.676 0.614 0.558 0.508 0.463 0.422 0.386 0.322 0.270 0.247 0.227 0.191 0.162 Period 6 0.432 0.410 0.370 0.335 Period 7 Period 8 Period 9 Period 10 Period 11 Period 12 Period 13 0.896 0.804 0.722 0.650 0.585 0.527 0.475 0.887 0.788 0.701 0.625 0.557 0.497 0.444 0.879 0.773 0.681 0.601 0.530 0.469 0.415 0.870 0.758 0.661 0.577 0.505 0.442 0.388 0.642 0.555 0.481 0.417 0.362 0.429 0.388 0.350 0.287 0.237 0.215 0.195 0.162 0.135 0.397 0.356 0.319 0.257 0.208 0.187 0.168 0.137 0.112 0.368 0.326 0.290 0.225 0.182 0.163 0.145 0.116 0.093 0.340 0.299 0.263 0.205 0.160 0.141 0.125 0.099 0.078 0.315 0.275 0.239 0.183 0.140 0.123 0.108 0.084 0.065 Period 14 Period 15 0.861 0.743 Period 16 0.853 0.728 0.623 0.534 0.458 0.394 0.339 Period 17 0.844 0.714 0.605 0.513 0.436 0.371 0.317 0.270 Period 18 0.836 0.700 0.587 0.494 0.416 0.350 0.296 Period 19 0.828 0.686 0.570 0.475 0.396 0.331 0.277 Period 20 0.820 0.673 0.554 0.456 0.377 0.312 0.258 0.292 0.252 0.218 0.163 0.123 0.107 0.093 0.071 0.054 0.231 0.198 0.146 0.108 0.093 0.080 0.060 0.045 0.250 0.212 0.180 0.130 0.095 0.081 0.069 0.051 0.038 0.232 0.194 0.164 0.116 0.083 0.070 0.060 0.043 0.031 0.215 0.178 0.149 0.104 0.073 0.061 0.051 0.037 0.026 0.199 0.164 0.135 0.093 0.064 0.053 0.044 0.031 0.022 0.184 0.150 0.123 0.083 0.056 0.046 0.038 0.026 0.018 0.170 0.138 0.112 0.074 0.049 0.158 0.126 0.102 0.066 0.043 0.035 0.028 0.019 0.013 0.146 0.116 0.092 0.059 0.038 0.030 0.024 0.016 0.010 Period 21 0.811 0.660 0.538 0.439 0.359 0.294 0.242 Period 22 0.803 0.647 0.522 0.422 0.795 0.634 0.507 0.406 Period 23 Period 24 0.342 0.278 0.226 0.326 0.262 0.211 0.310 0.247 0.197 0.478 0.375 0.295 0.233 0.184 0.040 0.033 0.022 0.015 0.788 0.622 0.492 0.390 Period 25 0.780 0.610 Periods 1% Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 Period 11 Period 12 Period 13 Period 14 Period 15 Period 16 Period 17 Period 18 Period 19 Period 20 Period 21 Period 22 Period 23 Period 24 Period 25 Future Value of $1 1.254 1.405 1.482 1.521 1.041 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 1.010 1.020 1.030 1.040 1.050 1.060 1.070 1.080 1.090 1.100 1.120 1.140 1.150 1.020 1.040 1.061 1.082 1.103 1.124 1.145 1.166 1.188 1.210 1.300 1.323 1.030 1.061 1.093 1.125 1.158 1.191 1.225 1.260 1.295 1.331 1.082 1.126 1.170 1.216 1.262 1.311 1.360 1.412 1.464 1.574 1.689 1.749 1.338 1.403 1.469 1.539 1.611 1.762 1.925 2.011 1.194 1.265 1.340 1.419 1.501 1.587 1.677 1.772 1.974 2.195 2.313 1.316 1.407 1.504 1.606 1.714 1.828 1.949 2.211 2.502 2.660 1.369 1.477 1.594 1.718 1.851 1.993 2.144 2.476 2.853 3.059 1.423 1.551 1.689 1.838 1.999 2.172 2.358 2.773 3.252 3.518 1.480 1.629 1.791 1.967 2.159 2.367 2.594 3.106 3.707 4.046 1.051 1.104 1.159 1.217 1.276 1.062 1.126 1.072 1.149 1.230 1.083 1.172 1.267 1.094 1.195 1.305 1.105 1.219 1.344 1.243 1.384 1.539 1.710 1.116 1.127 1.268 1.426 1.601 1.796 1.294 1.469 1.665 1.886 1.138 1.149 1.319 1.513 1.898 2.105 2.332 2.580 2.853 3.479 4.226 4.652 2.012 2.252 2.518 2.813 3.138 3.896 4.818 5.350 2.133 2.410 2.720 3.066 3.452 4.363 5.492 6.153 2.261 2.579 2.937 3.342 3.798 4.887 6.261 7.076 2.079 2.397 2.759 3.172 3.642 4.177 5.474 7.138 8.137 1.732 1.980 1.161 1.346 1.558 1.801 1.173 1.373 1.605 1.873 2.183 2.540 2.952 3.426 3.970 4.595 6.130 8.137 9.358 1.184 1.400 3.700 4.328 5.054 1.196 1.428 6.866 9.276 10.76 3.996 4.717 5.560 7.690 10.58 12.38 4.316 5.142 6.116 8.613 12.06 14.23 4.661 5.604 6.727 9.646 13.74 16.37 1.208 1.653 1.948 2.292 2.693 3.159 1.702 2.026 2.407 2.854 3.380 1.754 2.107 2.527 3.026 3.617 1.806 2.191 2.653 3.207 3.870 4.141 1.457 1.220 1.486 1.232 1.516 1.860 2.279 2.786 3.400 5.034 6.109 7.400 10.80 15.67 18.82 1.245 1.546 1.916 2.370 2.925 3.604 4.430 5.437 6.659 8.140 12.10 17.86 21.64 13.55 20.36 24.89 1.257 1.577 1.974 2.465 3.072 3.820 4.741 5.871 7.258 8.954 1.270 1.608 2.033 2.563 3.225 4.049 5.072 6.341 7.911 9.850 15.18 23.21 28.63 6.848 8.623 10.83 17.00 26.46 32.92 1.282 1.641 2.094 2.666 3.386 4.292 5.427 Present Value of Ordinary Annuity of $1 Periods 4% Period 1 Period 2 20% 0.833 1.528 Period 3 Period 4 Period 5 2% 3% 1% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 0.990 0.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.893 0.877 0.870 0.862 0.847 1.605 1.566 1.626 1.970 1.942 1.913 1.886 1.859 1.833 1.808 1.783 1.759 1.736 1.690 1.647 2.941 2.884 2.829 2.775 2.723 2.673 2.624 2.577 2.531 2.487 2.402 2.322 2.283 2.246 2.174 2.106 3.902 3.808 3.717 3.630 3.546 3.465 3.387 3.312 3.240 3.170 3.037 2.914 2.855 2.798 2.690 2.589 4.580 4.452 4.329 4.212 4.100 3.993 3.890 3.791 3.605 3.433 3.352 3.274 3.127 2.991 5.242 5.076 4.917 4.767 4.623 4.486 4.355 4.111 3.889 3.784 3.685 3.498 3.326 6.002 5.786 5.582 5.389 5.206 5.033 4.868 4.564 4.288 4.160 4.039 3.812 3.605 6.733 6.463 6.210 5.971 5.747 5.535 5.335 4.968 4.639 4.487 4.344 4.078 3.837 7.435 7.108 6.802 6.515 6.247 5.995 5.759 5.328 4.946 4.772 4.607 4.303 4.031 8.111 7.722 7.360 7.024 6.710 6.418 6.145 5.650 5.216 5.019 4.833 4.494 4.192 4.853 4.713 Period 6 5.795 5.601 Period 7 Period 8 Period 9 Period 10 5.417 6.728 6.472 6.230 7.652 7.325 7.020 8.566 8.162 7.786 9.471 8.983 8.530 5.029 4.656 4.327 Period 11 Period 12 Period 13 10.368 9.787 9.253 11.255 10.575 9.954 12.134 11.348 10.635 7.139 6.805 6.495 5.938 5.453 5.234 7.161 6.814 6.194 5.660 5.421 7.487 7.103 6.424 5.842 5.583 5.197 4.793 4.439 5.342 4.910 4.533 Period 14 Period 15 8.760 8.306 7.887 7.499 9.385 8.863 8.384 7.943 7.536 9.986 9.394 8.853 8.358 7.904 13.004 12.106 11.296 10.563 9.899 9.295 8.745 8.244 7.786 7,367 6.628 6.002 5.724 5.468 5.008 4.611 13.865 12.849 11.938 11.118 10.380 9.712 9.108 8.559 8,061 7.606 6,811 6.142 5.847 5.575 5.092 4.675 10.838 10.106 9.447 11.274 10.477 9.763 11.690 10.828 10.059 5.669 5.162 4.730 Period 16 Period 17 Period 18 Period 19 Period 20 14.718 13.578 12.561 11.652 8.851 8.313 7.824 6.974 6.265 5.954 15.562 14.292 13.166 12.166 9.122 8.544 8.022 7.120 6.373 6.047 5.749 5.222 4.775 16.398 14.992 13.754 12.659 9.372 8.756 8.201 7.250 6.467 6.128 5.818 5.273 4.812 17.226 15.678 14.324 13.134 12.085 11.158 10.336 9.604 8.950 8.365 7.366 6.550 6.198 5.877 5.316 4.844 18.046 16.351 14.877 13.590 12.462 11.470 10.594 9.818 9.129 8.514 7.469 6.623 6.259 5.929 5.353 4.870 14.029 12.821 11.764 10.836 10.017 9.292 8.649 7.562 6.687 6.312 5.973 5.384 4.891 14.451 13.163 12.042 11.061 10.201 9.442 8.772 7.645 6.743 6.359 6.011 5.410 4.909 14.857 13.489 12.303 11.272 10.371 9.580 8.883 7.718 6.792 6.399 6.044 5.432 4.925 21.243 18.914 16.936 15.247 13.799 12.550 11.469 10.529 9.707 8.985 7.784 6.835 6.434 6.073 5.451 4.937 22.023 19.523 17.413 15.622 14.094 12.783 11.654 10.675 9.823 9.077 7.843 6.873 6.464 6.097 5.467 4.948 Period 21 18.857 17.011 15.415 Period 22 19.660 17.658 15.937 Period 23 20.456 18.292 16.444 Period 24 Period 25 Periods Period 1 Period 2 Period 3 Period 4 Period 5 Period 6 Period 7 Period 8 Period 9 Period 10 Period 11 Period 12 Period 13 Period 14 Period 15 Period 16 Period 17 Period 18 Period 19 Period 20 Period 21 Period 22 Period 23 Period 24 Period 25 Future Value of Ordinary Annuity of $1 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2.010 2.020 2.030 2.040 2.050 2060 2.070 2.080 2.090 2.100 2.120 2.140 2.150 3.030 3.060 3.091 3.122 3.153 3.184 3.215 3.246 3.278 3.310 3.374 3.440 3.473 4.060 4.122 4.184 4.246 4.310 4.375 4.440 4.506 4.573 4.641 4.779 4.921 4.993 5.101 5.204 5.309 5.416 5.526 5.637 5.751 5.867 5.985 6.105 6.353 6.610 6.742 6.152 6.308 6.468 6.633 6.802 6.975 7.153 7.336 7.523 7.716 8.115 8.536 8.754 7.214 7.434 7.662 7.898 8.142 8.394 8.654 8.923 9.200 9.487 10.09 10.73 11.07 8.286 8.583 8.892 9.214 9.549 9.897 10.260 10.64 11.03 11.44 12.30 13.23 13.73 9.369 9.755 10.16 10.58 11.03 11.49 11.98 12.49 13.02 13.58 14.78 16.09 16.79 10.46 10.95 11.46 12.01 12.58 13.18 13.82 14.49 15.19 15.94 17.55 19.34 20.30 11.57 12.17 12.81 13.49 14.21 14.97 15.78 16.65 17.56 18.53 20.65 23.04 24.35 12.68 13.41 14.19 15.03 15.92 16.87 17.89 18.98 20.14 21.38 24.13 27.27 29.00 13.81 14.68 15.62 16.63 17.71 18.88 20.14 21.50 22.95 24.52 28.03 32.09 34.35 14.95 15.97 17.09 18.29 19.60 21.02 22.55 24.21 26.02 27.98 32.39 37.58 40.50 16.10 17.29 18.60 20.02 21.58 23.28 25.13 27.15 29.36 31.77 37.28 43.84 47.58 17.26 18.64 20.16 21.82 23.66 25.67 27.89 30.32 33.00 35.95 42.75 50.98 55.72 18.43 20.01 21.76 23.70 25,84 28.21 30.84 33.75 36.97 40.54 48.88 59.12 65.08 19.61 21.41 23.41 25.65 28.13 30.91 34.00 37.45 41.30 45.60 55.75 68.39 75.84 20.81 22.84 25.12 27.67 30.54 33.76 37.38 41.45 46.02 51.16 63.44 78.97 88.21 22.02 24.30 26.87 29.7833.07 36.79 41.00 45.76 51.16 5728 72.05 91.02 102.4 23.24 25.78 28.68 31.97 35.72 39.99 44.87 50.42 56.76 64.00 81.70 104.8 118.8 24.47 27.30 30.54 34.25 38.51 43.39 49.01 55.46 62.87 71.40 92.50 120.4 137.6 25.72 28.85 32.45 36.62 41.43 47.00 53.44 60.89 69.53 79.54 104.6 138.3 159.3 26.97 30.42 34.43 39.08 44.50 50.82 58.18 66.76 76.79 88.50 118.2 158.7 184.2 28.24 32.03 36.46 41.65 47.73 54.86 63.25 73.11 84.70 98.35 133.3 181.9 212.8