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Use the table below to answer the following questions: Present Value of an Annuity of 1 Future Value of an Annuity of1 Period 4% 5%
Use the table below to answer the following questions: Present Value of an Annuity of 1 Future Value of an Annuity of1 Period 4% 5% 8% 10% 4% 5% 8% 10% 2.7751 2.7232 2.5771 2.4869 3.12163.1525 3.2464 3.3100 3.6299 3.5460 3.3121 3.1699 4.24654.3101 4.5061 4.6410 4.4518 4.3295 3.9927 3.7908 5.41635.5256 5.8666 6.1051 5.2421 5.0757 4.6229 4.3553 6.6330 6.8019 7.3359 7.7156 6.0021 5.7864 5.2064 4.8684 7.8983 8.1420 8.9228 9.4872 6.7327 6.4632 5.7466 5.3349 9.21429.5491 10.6366 11.4359 7.4353 7.1078 6.2469 5.7590 10.5828 11.0266 12.4876 13.5795 8.1109 7.7217 6.7101 6.144612.0061 12.5779 14.4866 15.9374 4 6 8 10 Alicia gets a yearly alimony payment from her ex-husband and wants to save enough to put a 20% down payment on a home in 3 years. Median homes go for $650,000 and are expected to appreciate at the inflation rate of 3%. How much should Alicia put away into an investment each year if she can get a 8% return a year
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