Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You have been depositing money into an account yearly based on the following investment amounts, rates and times, what is the value of that investment

You have been depositing money into an account yearly based on the following investment amounts, rates and times, what is the value of that investment account at the end of that period?

Amounts of Investment Rate Times Value at the End of the Period
$9,000 20% 14 years
$12,000 15% 11 years
$16,000 12% 6 years
$36,000 10% 3 years

image text in transcribed

image text in transcribed

image text in transcribed

image text in transcribed

Present Value of $1 Table 1 Period (n) 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 1% 0.990 0.980 0.971 0.961 0.952 0.942 0.933 0.924 0.914 0.905 0.896 0.888 0.879 0.861 0.861 0.853 0.844 0.836 0.828 0.820 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 3% 0.971 0.943 0.915 0.888 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 1 Factor = (1 + i)" Rate (0) 5% 8% 0.952 0.926 0.907 0.857 0.864 0.794 0.823 0.735 0.784 0.681 0.746 0.630 0.711 0.583 0.677 0.540 0.645 0.500 0.614 0.463 0.585 0.429 0.557 0.397 0.530 0.368 0.505 0.340 0.481 0.315 0.458 0.292 0.436 0.270 0.416 0.250 0.396 0.232 0.377 0.215 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 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 15% 0.870 0.756 0.658 0.572 0.497 0.432 0.376 0.327 0.284 0.247 0.215 0.187 0.163 0.141 0.123 0.107 0.093 0.081 0.070 0.061 20% 0.833 0.694 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 Present Value of an ordinary Annuity Table [1 - 1/(1 + i)"] Factor = Rate (i) 1 2 3 Period (n) 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 1% 0.990 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 2% 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 3% 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 11.938 12.561 13.166 13.754 14.324 14.877 5% 0.952 1.859 2.723 3.546 4.329 5.076 5.786 6.463 7.108 7.722 8.306 8.863 9.394 9.899 10.380 10.838 11.274 11.690 12.085 12.462 8% 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% 0.909 1.736 2.487 3.170 3.791 4.355 4.868 5.335 5.759 6.145 6.495 6.814 7.103 7.367 7.606 7.824 8.022 8.201 8.365 8.514 12% 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 7.120 7.250 7.366 7.469 15% 0.870 1.626 2.283 2.855 3.352 3.785 4.160 4.487 4.772 5.019 5.234 5.421 5.583 5.725 5.847 5.954 6.047 6.128 6.198 6.259 20% 0.833 1.528 2.106 2.589 2.991 3.326 3.605 3.837 4.031 4.192 4.327 4.439 4.533 4.611 4.675 4.730 4.775 4.812 4.844 4.870 8% 1 Period (n) 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 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 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 1.346 1.373 1.400 1.428 1.457 1.486 Future Value of $1 Table Factor = (1 + i)" Rate (i) 3% 5% 10% 1.030 1.050 1.080 1.100 1.061 1.103 1.166 1.210 1.093 1.158 1.260 1.331 1.126 1.216 1.360 1.464 1.159 1.276 1.469 1.611 1.194 1.340 1.587 1.772 1.230 1.407 1.714 1.949 1.267 1.477 1.851 2.144 1.305 1.551 1.999 2.358 1.344 1.629 2.159 2.594 1.384 1.710 2.332 2.853 1.426 1.796 2.518 3.138 1.469 1.886 2.720 3.452 1.513 1.980 2.937 3.797 1.558 2.079 3.172 4.177 1.605 2.183 3.426 4.595 1.653 2.292 3.700 5.054 1.702 2.407 3.996 5.560 1.754 2.527 4.316 6.116 1.806 2.653 4.661 6.727 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 15% 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 20% 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 Period (n) 1% 1 1.000 2 2.010 3 3.030 4 4.060 5 5.101 6 6.152 7 7.214 8 8.286 9 9.369 10 10.462 11 11.567 12 12.683 13 13.809 14 14.947 15 16.097 16 17.258 17 18.430 18 19.615 19 20.811 20 22.019 Future Value of an Ordinary Annuity Table [(1 + i)^-1] Factor = i Rate (i) 2% 3% 5% 8% 10% 12% 15% 20% 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2.020 2.030 2.050 2.080 2.100 2.120 2.150 2.200 3.060 3.091 3.153 3.246 3.310 3.374 3.473 3.640 4.122 4.184 4.310 4.506 4.641 4.779 4.993 5.368 5.204 5.309 5.526 5.867 6.105 6.353 6.742 7.442 6.308 6.468 6.802 7.336 7.716 8.115 8.754 9.930 7.434 7.662 8.142 8.923 9.487 10.089 11.067 12.916 8.583 8.892 9.549 10.637 11.436 12.300 13.727 16.499 9.755 10.159 11.027 12.488 13.579 14.776 16.786 20.799 10.950 11.464 12.578 14.487 15.937 17.549 20.304 25.959 12.169 12.808 14.207 16.645 18.531 20.655 24.349 32.150 13.412 14.192 15.917 18.977 21.384 24.133 29.002 39.581 14.680 15.618 17.713 21.495 24.523 28.029 34.352 48.497 15.974 17.086 19.599 24.215 27.975 32.393 40.505 59.196 17.293 18.599 21.579 27.152 31.772 37.280 47.580 72.035 18.639 20.157 23.657 30.324 35.950 42.753 55.717 87.442 20.012 21.762 25.840 33.750 40.545 48.884 65.075 105.930 21.412 23.414 28.132 37.450 45.599 55.750 75.836 128.120 22.841 25.117 30.539 41.446 51.159 63.440 88.212 154.740 24.297 26.870 33.066 45.762 57.275 72.052 102.440 186.690

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Discuss the liability protection offered by an LLC.

Answered: 1 week ago