WUJLIUITTICIP Sandra wants to take the next six years off work to travel around the world. She estimates her annual cash needs at $34,000 (if she needs more, she will work odd jobs). Sandra believes she can invest her savings at 12% until she depletes her funds. (Click the icon to view Present Value of $1 table.) 2 (Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of $1 table.) 3 (Click the icon to view Future Value of Ordinary Annuity of $1 table.) Read the requirements. Requirement 1. How much money does Sandra need now to fund her travels? (Round your answer to the nearest whole dollar.) With the 12% interest rate, Sandra needs $ Requirement 2. After speaking with a number of banks, Sandra learns she will only be able to invest her funds at 4%. How much does she need now to fund her travels? (Round your answer to the nearest whole dollar.) With a 4% interest rate, Sandra would need $ L If Sandra's savings are earning a lower interest rate (4%), she will need to save to be able to withdraw $34,000 per year. Present Value of $1 Periods 1% 0.990 0.980 0.971 0.961 0.951 2% 0.980 0.961 0.942 0.924 0.906 3% 0.971 0.943 0.915 0.888 0.863 4% 0.962 0.925 0.889 0.855 0.822 5% | 0.952 0.907 0.864 0.823 0.784 6% | 0.943 0.890 0.840 0.792 0.747 7% 0.935 0.873 0.816 0.763 0.713 8% 0.926 0.857 0.794 0.735 9% 0.917 0.842 0.772 0.708 0.650 10% 0.909 0.826 0.751 0.683 0.621 12% 0.893 0.797 0.712 0.636 0.567 14% 0.877 0.769 0.675 0.592 0.519 15% 0.870 0.756 0.658 0.572 0.497 16% | 0.862 0.743 0.641 0.552 0.476 18% | 0.847 0.718 0.609 0.516 0.437 20% 0.833 0.694 0.579 0.482 0.402 0.681 0.746 0.711 ro 0.942 0.933 0.923 0.914 0.905 0.888 0.871 0.853 0.837 0.820 0.837 0.813 0.789 0.766 0.744 0.790 0.760 0.731 0.703 0.676 0.705 0.665 0.627 0.592 0.558 0.677 0.645 0.614 0.666 0.623 0.582 0.544 0.508 0.630 0.583 0.540 0.500 0.463 0.596 0.547 0.502 0.460 0.422 0.564 0.513 0.467 0.424 0.386 0.507 0.452 0.404 0.361 0.322 0.456 0.400 0.351 0.308 0.270 0.432 0.376 0.327 0.410 0.354 0.305 0.263 0.227 0.370 0.314 0.266 0.225 0.191 0.335 0.279 0.233 0.194 0.162 0.284 0.896 0.887 0.879 0.870 0.861 0.804 0.788 0.773 0.758 0.743 0.722 0.701 0.681 0.661 0.642 0.650 0.625 0.601 0.577 0.555 0.585 0.557 0.530 0.505 0.481 0.527 0.497 0.469 0.442 0.417 0.475 0.444 0.415 0.388 0.362 0.429 0.397 0.368 0.340 0.315 0.388 0.356 0.326 0.299 0.275 0.350 0.319 0.290 0.263 0.239 0.287 0.257 0.229 0.205 0.183 0.237 0.208 0.182 0.160 0.140 0.247 0.215 0.187 0.163 0.141 0.123 0.107 0.093 0.081 0.195 0.168 0.145 0.125 0.108 0.162 0.137 0.116 0.099 0.084 0.135 0.112 0.093 0.078 0.065 0.853 0.844 0.836 0.828 0.820 0.728 0.714 0.700 0.686 0.673 0.660 0.623 0.605 0.587 0.570 0.554 0.538 0.534 0.513 0.494 0.475 0.456 0.439 0.458 0.436 0.416 0.396 0.377 0.394 0.339 0.371 0.317 0.350 0.296 0.331 0.277 0.312 0.258 0.2940.242 0.292 0.252 0.270 0.231 0.250 0.212 0.232 0.194 0.215 0.178 0.1990.164 0.218 0.198 0.180 0.164 0.149 0.135 0.163 0.146 0.130 0.116 0.104 0.093 0.123 0.108 0.095 0.083 0.073 0.064 0.093 0.080 0.069 0.060 0.051 0.044 0.071 0.060 0.051 0.043 0.037 0.070 0.054 0.045 0.038 0.031 0.026 0.022 0.061 0.811 0.359 0.053 0.031 Future Value of $1 | Periods | 1% | 2% | 3% | 4% | 5% | 6% | 7% | 8% | 9% | 10% | 12% | 14% | 15% 1 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 | 1.145 | 1.166 | 1.188 1.210 | 1.254 | 1.300 1.323 1.030 1.061 1.093 | 1.125 1.158 1.191 1.225 1.260 | 1.295 1.331 || 1.405 1.482 1.521 1.041 1.082 1.126 1.170 1.216 1.262.. 1.311 1.360 1.412 1.464 | 1.574 1.689 1.749 1.051 1.104 1.159 | 1.217 1.276 1.338 1.403 1.469 1.539 1.611 1.762 1.925 2.011 1.062 1.126 1.194 1.265 1,340 1.419 1.501 1.587 1,677 1,772 1.974 2.195 2.313 1.072 1.149 1.230 1.316 1.407 1.504 1.606 1.714 1.828 1.949 2.211 2.502 2.660 1.083 1.172 1.267 1.369 1.477 1.594 1.718 1.851 1.993 2.144 2.476 2.853 3.059 1.094 1.195 1.305 1.423 1.551 | 1.689 1.838 1.999 2.172. 2,358 2.773 3.252 3.518 1.105 1.219 1.344 1.480 1.629 1.791 1.967 2.159 2.367 2.594 3.106 3.707 4.046 1.116 1.243 1.384 1.539. 1,710 1.898 2.105 2,332 2.580 2.853 3.479. 4.226 4.652 1.127 1.268 1.426 | 1,601 | 1.796 2.012 2.252 2.518 2.813 3.138 3.896 4.818 5.350 1.138 1.294 1.469 1.665 1.886 2.133 2.410 2.720 3.066 4.363 5.492 6.153 1.149 1.319 1,513 | 1.980 2.261 2.579. 2.937 3.342 3.798 4.887 6.261 7.076 1.161 1.558 2.079. 2.397 2.759 3.172 3.642 14.177 | 5.474 7.138 8.137 1.173 1,373 1,605 | 2.183 2.540 2.952 3.426 3.970 4,595 16.130 8.137 19.358 1.184 1.400 1.653 1.948 2.292 2.693 3.159 3.700 4.328 5.054 6.866 9.276 10.76 1.196 1.428 1.702 2.026 2.407 2.854 3.380 3.996 4.717 5.560 7.690 10.58 12.38 1.208 1.457. 1.754 | 2.107 | 2.527 13.026 3.617 4.316 5.142 6.116 8.613 12.06 14.23 1.220 | 1.486 1.806 2.191 2.653 3.207 3.870 4,661 5.604 6.727 19.646 16.37 21 | 1.232 | 1,516 | 1,860 | 2,279 | 2.786 | 3,400 | | 4.141 | 5.034 | 6.109 | 7.400 | 10.80 | 15.67 | 18.82 67890 1 2 345 6 8 93 3.452 1,732 | 1.801 | 1.873 13.74 Print Done Periods 1% 0.990 1.970 2.941 3.902 4.853 2% 0.980 | 1.942 2.884 3.808 4.713 3% 0.971 1.913 2.829 3.717 4.580 4% 0.962 1.886 2.775 3.630 4.452 5% | 0.952 1.859 2.723 3.546 4.329 Present Value of Ordinary Annuity of $1 6% 7% 8% 9% 10% 0.943 0.935 0.926 0.917 0.909 1.833 1.808 1.783 1.759 1.736 2.673 2.624 2.577 2.531 2.487 3.465 3.387 3.312 3.240 3.170 4.212 4.100 3.993 3.890 3.791 12% 0.893 1.690 2.402 3.037 3.605 14% 0.877 1.647 2.322 2.914 3.433 15% | 0.870 1.626 2.283 2.855 3.352 16% 0.862 1.605 2.246 2.798 3.274 3.685 4.039 4.344 4.607 4.833 18% 20% 0.847 | 0.833 1.566 1.528 2.174 2.106 2.690 2.589 3.127 2.991 4.623 5.206 5.747 6.247 6.710 4.486 5.033 5.535 5.995 6.418 4.355 4.868 5.335 5.759 6.145 4.111 4.564 4.968 5.328 5.650 3.889 4.288 4.639 4.946 5.216 3.784 4.160 4.487 4.772 5.019 3.498 3.812 4.078 4.303 4.494 3.326 3.605 3.837 4.031 4.192 8.760 5.938 6.194 N o o o d I ooo 5.795 5.601 5.417 | 5.2425.076 4.917 4.767 6.728 6.472 6.230 6.002 5.786 5.582 5.389 7.652 7.325 7.020 6.733 6.463 6.210 5.971 8.566 8.162 7.786 7.435 7.108 6.802 6.515 9.471 8.983 8.530 8.111 7.722 7.360 7.024 10.368 9.787 9.253 8.306 7.887 7.499 11.255 10.575 9.954 9.385 8.863 8.384 7.943 12.134 11.348 10.635 9.986 9.394 8.853 8.358 13.004 12.106 11.296 10.563 9.899 9.295 8.745 13.865 12.849 11.938 11.118 | 10.380 | 9.712 | 9.108 14.718 13.578 12.561 | 11.652 10.838 10.106 9.447 15.562 14.292 13.166 12.166 11.274 10.477 9.763 16.398 14.992 13.754 | 12.659 11.690 10.828 10.059 17.226 15.678 14.324 13.134 12.085 11.158 10.336 18.046 16.351 14.877 13.590 12.462 | 11.470 10.594 18.857 | 17.011 15.415 14.029 12.821 11.764 10.836 7.139 7.536 7.904 8.244 8.559 6.805 7.161 7.487 7.786 8.061 6.424 6.495 6.814 7.103 7.367 7.606 5.453 5.660 5.842 6.002 6.142 5.234 5.421 5.583 5.724 5.847 5.029 5.197 5.342 5.468 5.575 4.656 4.793 4.910 5.008 5.092 4.327 4.439 4.533 4.611 4.675 6.628 6.811 5.954 8.851 9.122 9.372 9.604 9.818 10.017 8.313 8.544 8.756 8.950 9.129 9.292 7.824 8.022 8.201 8.365 8.514 6.974 7.120 7.250 7.366 7.469 6.265 6.373 6.467 6.550 6.623 6.687 6.047 6.128 6.198 6.259 6.312 5.669 5.749 5.818 5.877 5.929 5.162 5.222 5.273 5.316 5.353 5.384 4.730 4.775 4.812 4.844 4.870 8.649 7.562 5.973 4.891 Print Print Done Done Reference Periods 5.101 8.115 13.73 9.369 o Gm ovo AWN 1% 2% 1.000 1.000 2.010 2.020 3.030 3.060 4.060 4.122 5.204 6.152 6.308 7.214 7.434 8.286 8.583 9.755 10.46 10.95 11.57 12.17 12.68 13.41 13.81 14.68 14.95 15.97 16.10 17.29 17.26 18.64 18.43 20.01 19.61 21.41 20.81 22.84 22.02 24.30 23.2425.78 3% 1.000 2.030 3.091 4.184 5.309 6.468 7.662 8.892 10.16 11.46 12.81 14.19 15.62 17.09 18.60 20.16 21.76 23.41 25.12 26.87 Future Value of Ordinary Annuity of $1 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 2.040 2.050 2.070 2.080 2.090 2.100 2.120 2.140 2.150 3.122 3.153 3.184 3.215 3.246 3.278 3.310 3.374 3.440 3.473 4.246 4.310 4.375 4.440 4.506 4.573 4.641 4.779 4.921 4.993 5.416 5.526 5.637 5.751 5.867 5.985 6.105 6.353 6.610 6.742 6.633 6.802 6.975 7.153 7.336 7.523 7.716 8.536 8.754 7.898 8.142 8.394 8.654 8.923 9.200 9.487 10.09 10.73 11.07 9.214 9.549 9.897 10.260 10.64 11.03 11.44 12.30 13.23 10.58 11.03 11.49 11.98 12.49 13.02 13.58 14.78 16.09 16.79 12.01 12.58 13.18 13.82 14.49 15.19 15.94 17.55 19.34 20.30 13.49 14.21 14.97 15.78 16.65 17.56 18.53 20.65 23.04 24.35 15.92 16.87 17.89 18.98 20.14 21.38 27.27 16.63 17.71 18.88 20.14 21.50 22.95 24.52 28.03 32.09 34.35 18.29 21.02 22.55 24.21 26.02 27.98 32.39 37.58 40.50 20.02 21.58 25.13 27.15 29.36 31.77 37.28 43.84 47.58 23.66 25.67 27.89 33.00 35.95 42.75 50.98 55.72 25.84 28.21 30.84 33.75 36.97 40.54 48.88 59.12 65.08 25.65 28.13 30.91 34.00 37.45 41.30 45.60 55.75 68.39 75.84 27.67 30.54 33.76 37.38 41.45 46.02 51.16 63.44 78.97 88.21 29.78 33.07 36.79 41.00 45.76 51.16 57.28 91.02 102.4 39.99 44.87 50.42 56.76 | 64.00 | 81.70 | 104.8 | 118.8 15.03 24.13 29.00 19.60 23.28 30.32 21.82 23.70 28 68 2407 N Print Done