Using time value of money tables (Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, Exhibit 1-D), calculate the following.

a.	The future value of $450 four years from now at 8 percent. (Round your FV factor to 3 decimal places and final answer to 2 decimal places.)

Future value

$

b.	The future value of $450 saved each year for 9 years at 6 percent. (Round your FV factor to 3 decimal places and final answer to 2 decimal places.)

Future value

$

c.	The amount a person would have to deposit today (present value) at a 5 percent interest rate to have $1,200 five years from now. (Round your PV factor to 3 decimal places and final answer to 2 decimal places.)

Deposit

$

d.	The amount a person would have to deposit today to be able to take out $500 a year for 8 years from an account earning 6 percent. (Round your PV factor to 3 decimal places and final answer to 2 decimal places.)

Deposit

$

Exhibit 1-A Future Value (Compounded Sum) of $1 after a Given Number of Time Periods 5% 6% 7% 8% 9% 10% 11% 70 Period 1 2 3 4 1.050 1.103 1.158 1.216 1.276 1.060 1.124 1.191 1.262 1.338 1.419 1.504 1.594 1.340 10 1% 1.010 1.020 1.030 1.041 1.051 1.062 1.072 1.083 1.094 1.105 1.116 1.127 1.138 1.149 1.161 1.173 1.184 1.196 1.208 1.220 1.282 1.348 1.489 1.645 2% 1.020 1.040 1.061 1.082 1.104 1.126 1.149 1.172 1.195 1.219 1.243 1.268 1.294 1.319 .346 1.373 1.400 1.428 1.457 1.486 1.641 1.811 2.208 2.692 3% 1.030 1.061 1.093 1.126 1.159 1.194 1.230 1.267 1.305 1.344 1.384 1.426 1.469 1.513 1.558 1.605 1.653 1.702 1.754 1.806 2.094 2.427 3.262 4.384 4% 1.040 1.082 1.125 1.170 1.217 1.265 1.316 1.369 1.423 1.480 1.539 1.601 1.665 1.732 1.801 1.873 1.948 2.026 2.107 2.191 2.666 3.243 4.801 7.107 1.070 1.145 1.225 1.311 1.403 1.501 1.606 1.718 1.838 1.967 2.105 2.252 2.410 2.579 2.759 2.952 3.159 3.380 3.617 3.870 5.427 7.612 14.974 29.457 1.407 1.477 1.551 1.629 1.710 1.796 1.886 1.980 2.079 2.183 2.292 2.407 2.527 2.653 3.386 4.322 7.040 11.467 1.080 1.166 1.260 1.360 1.469 1.587 1.714 1.851 1.999 2.159 2.332 2.518 2.720 2.937 3.172 3.426 3.700 3.996 4.316 4.661 6.848 10.063 21.725 46.902 1.689 1.791 1.898 2.012 2.133 2.261 2.397 2.540 2.693 2.854 3.026 3.207 4.292 5.743 10.286 18.420 1.090 1.188 1.295 1.412 1.539 1.677 1.828 1.993 2.172 2.367 2.580 2.813 3.066 3.342 3.642 3.970 4.328 4.717 5.142 5.604 8.623 13.268 31.409 7 4.358 1.100 1.210 1.331 1.464 1.611 1.772 1.949 2.144 2.358 2.594 2.853 3.138 3.452 3.797 4.177 4.595 5.054 5.560 6.116 6.727 10.835 17.449 45.259 117.390 13 14 15 16 17 1.110 1.232 1.368 1.518 1.685 1.870 2.076 2.305 2.558 2.839 3.152 3.498 3.883 4.310 4.785 5.311 5.895 6.544 7.263 8.062 13.585 22.892 65.001 184.570 1 19 40 50 Period 12% 13% 14% 15% 16% 17% 18% 19% 20% 25% 30% 1 2 Ovo 11 12 1.120 1.254 1.405 1.574 1.762 1.974 2.211 2.476 2.773 3.106 3.479 3.896 4.363 4.887 5.474 6.130 6.866 7.690 8.613 9.646 17.000 29.960 93.051 289.000 1.130 1.277 1.443 1.630 1.842 2.082 2.353 2.658 3.004 3.395 3.836 4.335 4.898 5.535 6.254 7.067 7.986 9 .024 10.197 11.523 21.231 39.116 132.780 450.740 1.140 1.300 1.482 1.689 1.925 2.195 2.502 2.853 3.252 3.707 4.226 4.818 5.492 6.261 7.138 8.137 9.276 10.575 12.056 13.743 26.462 50.950 188.880 700.230 1.150 1.323 1.521 1.749 2.011 2.313 2.660 3.059 3.518 4.046 4.652 5.350 6.153 7.076 8.137 9 .358 10.761 12.375 14.232 16.367 32.919 66.212 267.860 1,083.700 1.160 1.346 1.561 1.811 2.100 2.436 2.826 3.278 3.803 4.411 5.117 5.936 6.886 7.988 9.266 10.748 12.468 14.463 16.777 19.461 40.874 85.850 378.720 1,670.700 1.170 1.180 1.369 1.392 1.602 1.643 1.874 1.939 2.192 2.288 2.565 2.700 3.001 3.185 3.511 3.759 4.108 4.435 4.807 5.234 5 .624 6.176 6.580 7.288 7.699 8.599 9.007 10.147 10.539 11.974 12.330 14.129 14.426 16.672 16.879 1 9.673 19.748 23.214 23.106 27.393 50.658 62.669 111.070 143.370 533.870 750.380 2,566.2003,927.400 1.190 1.416 1.685 2.005 2.386 2.840 3.379 4.021 4.785 5.696 6.777 8.064 9.596 11.420 13.590 16.172 19.244 22.091 27.252 32.429 77.388 184.680 1,051.700 5,998.900 1.200 1.440 1.728 2.074 2.488 2.986 3.583 4.300 5.160 6.192 7.430 8.916 10.699 12.839 15.407 18.488 22.186 26.623 31.948 38.338 95.396 237.380 1,469.800 9,100.400 1.250 1.300 1.563 1.690 1.953 2.197 2.441 2.856 3.052 3.713 3.815 4.827 4.768 6.276 5.960 8.157 7.451 10.604 9.313 13.786 11.642 17.922 14.552 23.298 18.190 30.288 22.737 39.374 28.422 51.186 35.527 66.542 44.409 86.504 55.511 112.460 69.389 146.190 86.736 190.050 264.700 705.640 807.790 2,620.000 7,523.200 36,119.000 70,065.000 497,929.000 14 18 40 50 Exhibit 1-B Future Value (Compounded Sum) of $1 Paid In at the End of Each Period for a Given Number of Time Periods (an Annuity) Period 1% 2% 3% 5% 6% 7% 8% 9% 10% 11% 1.000 2.010 3.030 4.060 5.101 6.152 7.214 8.286 9.369 10.462 11.567 12.683 13.809 14.947 16.097 17.258 18.430 19.615 20.811 22.019 28.243 34.785 48.886 64.463 1.000 2.020 3.060 4.122 5.204 6.308 7.434 8.583 9.755 10.950 12.169 13.412 14.680 15.974 17.293 18.639 20.012 21.412 22.841 24.297 32.030 40.588 60.402 84.579 11 12 13 1.000 2.030 3.091 4.184 5.309 6.468 7.662 8.892 10.159 11.464 12.808 14.192 15.618 17.086 18.599 20.157 21.762 23.414 25.117 26.870 36.459 47.575 75.401 112.800 4% 1.000 2.040 3.122 4.246 5.416 6.633 7.898 9.214 10.583 12.006 13.486 15.026 16.627 18.292 20.024 21.825 23.698 25.645 27.671 29.778 4 1.646 56.085 95.026 152.670 1.000 2.050 3.153 4.310 5.526 6.802 8.142 9.549 11.027 12.578 14.207 15.917 17.713 19.599 21.579 23.657 1.000 2.060 3.184 4.375 5.637 6.975 8.394 9.897 11.491 13.181 14.972 16.870 18.882 21.015 23.276 25.673 28.213 30.906 33.760 36.786 54.865 79.058 154.760 290.340 1.000 2.070 3.215 4.440 5.751 7.153 8.654 10.260 11.978 13.816 15.784 17.888 20.141 22.550 25.129 27.888 30.840 33.999 37.379 4 0.995 63.249 94.461 199.640 406.530 1.000 2.080 3.246 4.506 5.867 7.336 8.923 10.637 12.488 14.487 16.645 18.977 21.495 24.215 27.152 30.324 33.750 37.450 41.446 45.762 73.106 113.280 259.060 573.770 1.000 2.090 3.278 4.573 5.985 7.523 9.200 11.028 13.021 15.193 17.560 20.141 22.953 26.019 29.361 33.003 36.974 41.301 46.018 51.160 84.701 136.310 337.890 815.080 1.000 2.100 3.310 4.641 6.105 7.716 9.487 11.436 13.579 15.937 18.531 21.384 24.523 27.975 31.772 35.950 40.545 45.599 51.159 57.275 1.000 2.110 3.342 4.710 6.228 7.913 9.783 11.859 14.164 16.722 19.561 22.713 26.212 30.095 34.405 39.190 44.501 50.396 56.939 64.203 114.410 199.020 581.830 1,668.800 14 17 25.840 19 20 28.132 30.539 33.066 47.727 66.439 120.800 209.350 164.490 442.590 1,163.900 50 Period 12% 13% 14% 15% 1.000 1.000 1.000 1.000 2.120 2.130 2.140 2.150 3.374 3.407 3.440 3.473 4.779 4.850 4.921 4.993 6.353 6.480 6.610 6.742 8.115 8.323 8.536 8.754 10.089 10.405 10.730 11.067 12.300 12.757 13.233 13.727 14.776 15.416 16.085 16.786 17.549 18.420 19.337 20.304 20.655 21.814 23.045 24.349 24.133 25.650 27.271 29.002 28.029 29.985 32.089 34.352 32.393 34.883 37.581 40.505 37.280 40.417 43.842 47.580 42.753 46.672 50.980 55.717 48.884 53.739 59.118 65.075 55.750 61.725 68.394 75.836 6 3.440 7 0.749 78.969 88.212 72.052 80.947 91.025 102.440 133.330 155.620 181.870 212.790 241.330 293.200 356.790 434.750 767.090 1,013.700 1,342.000 1,779.100 2,400.000 3,459.500 4,994.500 7,217.700 16% 17% 18% 19% 20% 25% 30% 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2.160 2.170 2.180 2.190 2.200 2.250 2.300 3.506 3.539 3.572 3.606 3.640 3.813 3.990 5.066 5.141 5.215 5.291 5.368 5.766 6.187 6.877 7.014 7.154 7.297 7.442 8.207 9.043 8.977 9.207 9.442 9.683 9.930 11.259 12.756 11.414 11.772 12.142 12.523 12.916 15.073 17.583 14.240 14.773 15.327 15.902 16.499 19.842 23.858 17.519 18.285 19.086 19.923 20.799 25.802 32.015 21.321 22.393 23.521 24.701 25.959 33.253 42.619 25.733 27.200 28.755 30.404 32.150 42.566 56.405 30.850 32.824 34.931 37.180 39.581 54.208 74.327 36.786 39.404 42.219 45.244 48.497 68.760 97.625 43.672 47.103 50.818 54.841 59.196 86.949 127.910 51.660 56.110 60.965 66.261 72.035 109.690 167.290 60.925 66.649 72.939 79.850 87.442 138.110 218.470 71.673 78.979 87.068 96.022 105.930 173.640 285.010 84.141 93.406 103.740 115.270 128.120 2 18.050 371.520 98.603 110.290 123.410 138.170 154.740 273.560 483.970 115.380 130.030 146.630 165.420 186.690 342.950 630.170 249.210 292.110 342.600 402.040 471.980 1,054.800 2.348.800 5 30.310 647.440 790.950 966.700 1,181.900 3,227.2008,730.000 2,360.800 3,134.500 4,163.210 5,529.800 7,343.900 30,089.000 120,393.000 10,436.000 15,090.000 21,813.000 31,515.000 45,497.000 80,256.000 165,976.000 19 50 Exhibit 1-C Present Value of $1 to Be Received at the End of a Given Number of Time Periods Period 1 2 3 0 12 1% .990 0.980 0.971 0.961 0.951 0.942 0.933 0.923 0.914 0.905 0.896 0.887 0.879 0.870 0.861 0.853 0.844 0.836 0.828 0.820 0.780 0.742 0.672 0.608 2% 0,980 0.961 0.942 0.924 0.906 0.888 0.871 0.853 0.837 0.820 0.804 0.788 0.773 0.758 0.743 0.728 0.714 0.700 0.686 0.673 0.610 0.552 0.453 0.372 3% 0.9710 0.943 0.915 0.885 0.863 0.837 0.813 0.789 0.766 0.744 0.722 0.701 0.681 0.661 0.642 0.623 0.605 0.587 0.570 0.554 0.478 0.412 0.307 0.228 4% .962 0.925 0.889 0.855 0.822 0.790 0.760 0.731 0.703 0.676 0.650 0.625 0.601 0.577 0.555 0.534 0.513 0.494 0.475 0.456 0.375 0.308 0.208 0.141 5% 0.952 0.907 0.864 0.823 0.784 0.746 0.711 0.677 0.645 0.614 0.585 0.557 0.530 0.505 0.481 0.458 0.436 0.416 0.396 0.377 0.295 0.231 0.142 0.087 6% 0.943 0.890 0.840 0.792 0.747 0.705 0.665 0.627 0.592 0.558 0.527 0.497 0.469 0.442 0.417 0.394 0.371 0.350 0.331 0.312 0.233 0.174 .097 0.054 7% 0.935 0.873 0.816 0.763 0.713 0.666 0.623 0.582 0.544 0.508 0.475 0.444 0.415 0.388 0.362 0.339 0.317 0.296 0.277 0.258 0.184 0.131 0.067 0.034 8% 0.926 0.857 0.794 0.735 0.681 0.630 0.583 0.540 0.500 0.463 0.429 0.397 0.368 0.340 0.315 0.292 0.270 0.250 0.232 0.215 0.146 0.099 0.046 0.021 9% 0.917 0.842 0.772 0.708 0.650 0.596 0.547 0.502 0.460 0.422 0.388 0.356 0.326 0.299 .275 0.252 0.231 0.212 0.194 0.178 0.116 0.075 0.032 0.013 10% 0.909 0.826 0.751 0.683 0.621 0.564 0.513 0.467 0.424 0.386 0.350 0.319 0.290 0.263 0.239 0.218 0.198 0.180 0.164 0.149 0.092 0.057 0.022 0.009 11% 0.901 0.812 0.731 0.659 0.593 0.535 0.482 0.434 0.391 0.352 0.317 0.286 0.258 0.232 0.209 0.188 0.170 0.153 0.138 0.124 0.074 0.044 0.015 0.005 12% 0.893 0.797 0.712 0.636 0.567 0.507 0.452 0.404 0.361 0.322 0.287 0.257 0.229 0.205 0.183 0.163 0.146 0.130 0.116 0.104 0.059 0.033 0.011 0.003 0 25 0 40 50 Period 1 2 3 4 0 13% 0.885 .783 0.693 0.613 0.543 0.480 0 0 0.376 0.333 0.295 0 10 11 14% 0.877 0.769 0.675 .592 0.519 0.456 0.400 0.351 0.300 0.270 0.237 0.208 0.182 0.160 0.140 0.123 0.108 0.095 0.083 0.073 0.038 0.020 0.005 0.001 15% 0.870 0.756 0.658 0.572 .497 0.432 0.376 0.327 0.284 0.247 0.215 0.187 0.163 .141 0.123 0.107 0.093 0.081 0.070 0.061 0.030 0.015 0.004 0.001 16% 17% 18% 0.862 0.855 0.847 0.743 0.731 0.718 0.641 0.624 0.609 0.552 0.534 0.515 0.476 0.456 0.437 0.410 0.390 0.370 0.354 0.333 0.314 0.305 0.285 0.266 0.263 0.243 0.225 0.227 0.208 0.191 0.195 0.178 0.162 0.168 0.152 0.137 0.145 0.130 0.116 0.125 0.111 0.099 0.108 0.05 0.084 0.093 0.081 0.071 0.080 0.069 0.060 0.069 0.059 0.051 0.060 0.051 0.043 0.051 0.043 0.037 0.024 0.020 0.016 0.0120.0090.007 0.003 0.002 0.001 0.001 0 0 19% 0.840 0.706 0.593 0.499 0.419 0.352 0.296 0.249 0.209 .176 0.148 0.124 0.104 0.088 0.074 0.062 0.052 0.044 0.037 0.031 0.013 0.005 0.001 0 0.231 0.204 0.181 0.160 0.141 0.125 0.111 .098 0.087 0.047 0.026 0.008 0.002 20% 0.833 0.6940 0.579 0.482 0.402 0.335 0.279 0.233 0.194 0.162 0.135 0.112 0.093 0.078 0.065 0.054 0.045 0.038 0.031 0.026 0.010 0.004 0.001 0 50% 0.667 0.444 0.296 0.198 0.132 0.088 0.059 0.039 0.026 0.017 0.012 0.008 0.005 0.003 0.002 0.002 0.001 0.001 25% 0.800 .640 0.512 0.410 0.320 0.262 0.210 0.168 0.134 0.107 0.086 0.069 0.055 0.044 0.035 0.028 0.023 0.018 0.014 0.012 0.004 0.001 0 0 30% 35% 40% 0.769 0.741 0.714 0.592 0.549 0.510 0.455 0.406 0.364 0.350 0.301 0.269 0.223 0.186 0.207 0.165 0.133 0.159 0.122 0.095 0.123 0.091 0.068 0.094 0.067 0.048 0.073 0.050 0.035 0.056 0.037 0.025 0.043 0.027 0.018 0.033 0.020 0.013 0.025 0.015 0.009 0.0200.0110.006 0.015 0.008 0.005 0.012 0.006 0.003 0.009 0.005 0.002 0.007 0.003 0.0020 0.005 0.002 0.001 0 0.001 0.0010 0 0 0 0 0 0 0 0 0 0 14 0 16 0 19 20 25 30 40 50 0 0 0 Exhibit 1-D Present Value of $1 Received at the End of Each Period for a Given Number of Time Periods (an Annuity) Period 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 1 0 2 8 6 .990 1.970 2.941 3.902 4.853 5.795 6.728 7.652 8.566 9.471 10.368 11.255 12.134 13.004 13.865 14.718 15.562 16.398 17.226 18.046 22.023 25.808 32.835 39.196 11 12 13 14 0.980 1.942 2.884 3.808 4.713 5.601 6.472 7.325 8.162 8.983 9.787 10.575 11.348 12.106 12.849 13.578 14.292 14.992 15.678 16.351 19.523 22.396 27.355 31.424 0.971 1.913 2.829 3.717 4.580 5.417 6.230 7.020 7.786 8.530 9.253 9.954 10.635 11.296 11.939 12.561 13.166 13.754 14.324 14.877 17.413 19.600 23.115 25.730 0.935 1.808 2.624 3.387 4.100 4.767 5.389 5.971 6.515 7.024 7.499 7.943 8.358 8.745 9.108 0.962 1.886 2.775 3.630 4.452 5.242 6.002 6.733 7.435 8.111 8.760 9.385 9 .986 10.563 11.118 11.652 12.166 12.659 13.134 1 3.590 15.622 17.292 19.793 21.482 0.952 1.859 2.723 3.546 4.329 5.076 5.786 6.463 7.108 7.722 8.306 .863 9.394 9.899 10.380 10.838 11.274 11.690 12.085 12.462 14.094 15.372 17.159 18.256 0.943 1.833 2.673 3.465 4.212 4.917 5.582 6.210 6.802 7.360 7.887 8.384 8.853 9.295 9.712 10.106 10.477 10.828 11.158 11.470 12.783 13.765 15.046 15.762 0.926 1.783 2.577 3.312 3.993 4.623 5.206 5.747 6.247 6.710 7.139 7.536 7.904 8.244 8.559 8.851 9.122 9.372 9.604 9.818 10.675 11.258 11.925 12.233 0.917 1.759 2.531 3.240 3.890 4.486 5.033 5.535 5.995 6.418 6.805 7.161 7.487 7.786 8.061 8.313 .544 .756 8.950 9.129 9.823 10.274 10.757 10.962 0.909 1.736 2.487 3.170 3.791 4.355 4.868 5.335 5.759 6.145 6.495 .814 7.103 7.367 7.606 7.824 8.022 8.201 8.365 8.514 .077 9.427 9.779 9.915 0.901 1.713 2.444 3.102 3.696 4.231 4.712 5.146 5.537 5.889 6.207 6.492 6.750 6.982 7.191 7.379 7.549 .702 7.839 7.963 8.422 8.694 8.951 9.042 0.893 1.690 2.402 3.037 3.605 4.111 4.564 4.968 5.328 5.650 5.938 6.194 6.424 6.628 6.811 6.974 7.102 7.250 .366 7.469 7.843 8.055 8.244 8.304 9.447 17 9.763 8 18 8 7 7 10.059 10.336 10.594 11.654 12.409 13.332 13.801 9 50 Period 13% 14% 15% 16% 17% 18% 19% 20% 25% 30% 35% 40% 50% 1 0 2 5 3 8 2.665 11 5 .885 1.668 2.361 2.974 3.517 3.9983 4.423 4.799 5.132 5.426 .6875 5.918 6.122 6.302 6.462 6.604 6.7296 6.840 6.938 .0256 7.330 7.496 7.634 7.675 0.877 0.870 1.647 1.626 2.322 2.283 2.914 2.855 3.433 3.352 .8893 .784 4.288 4.160 4.639 4 .487 4.946 4.772 5.216 5.019 .453 5.234 5.6605.421 5.842 5.583 6.002 5.724 6.142 5.847 6.265 5.954 .373 6.047 6.467 6.128 6.550 6 .198 .623 6.259 6.8736.464 7.003 6 .566 7.105 6.642 7.133 6.661 0.862 0.855 1.605 1.585 2.246 2.210 2.798 2.743 3.274 3.199 3.685 3.589 4.039 3.922 4.344 4.207 4.607 4.451 4.833 4.659 5.0294 .836 5.197 4.988 5.342 5.118 5.468 5.229 5.575 5.324 5.668 5.405 5.749 5.475 5.818 5.534 5.877 5.584 5.929 5.628 6.0975.766 6.177 5.829 6.233 5.871 6.246 5.880 0.847 0.840 0.833 1.566 1.547 1.528 2.174 2.140 2.106 2.690 2.639 2.589 .127 3.058 2.991 3.498 3.410 3.326 3.812 3.706 3.605 4.078 3.954 3.837 4.303 4.163 4.031 4.494 4.339 4.192 4.656 4.486 4.327 4.793 4.611 4.439 4.715 4.533 5.008 4.802 4.611 5.092 4.876 4.675 5.162 4.938 4.730 5.222 4.988 4.775 5.273 5.033 4.812 5.316 5.070 4.843 5.3535.101 4.870 5.467 5.1954.948 5.517 5.235 4.979 .548 5.258 4.997 5.554 5.262 4.999 0.800 1.440 1.952 2.362 2.689 2.951 3.161 3.329 3.463 3.571 3.656 3.725 3.780 3.824 3.859 3.887 3.910 3.928 .942 3.954 3.985 3.995 3.999 4.000 0.769 0.741 1.361 1.289 1.816 1.696 2.166 1.997 2.436 2.220 2.643 2.385 2.802 2.508 2.925 2.598 3.019 3.092 2.715 3.147 2.752 3.190 2.779 3.223 2.799 3.249 2.814 3.268 2.825 3.283 2.834 3.295 2.840 3.304 2.844 3.311 2.848 3.3162.850 3.3292.856 3.332 2.857 3.333 2.857 3.333 2 .857 0.714 1.224 1.589 1.849 2.035 2.168 2.263 2.331 2.379 2.414 2.438 2.456 2.469 2.478 2.484 2.489 2.492 2.494 2.496 2.497 2.499 250 2.500 2.500 2.500 0.667 1.111 1.407 1.605 1.737 1.824 1.883 1.922 1.948 1.965 1.977 1.985 1.990 1.993 1.995 1.997 1.998 1.999 1.999 1.999 2.000 2.000 14 3 18 19 207 25 30 5 2.000 2.000