Question : Multiple Choice 16. The concept that interest causes the value of : 1255674

Multiple Choice

16. The concept that interest causes the value of money received today to be greater than the value of that same amount of money received in the future is referred to as the:

a. Monetary unit assumption.

b. Historical cost principle.

c. Time value of money.

d. Matching principle.

17. The value today of receiving an amount in the future is referred to as the:

a. Future value of a single amount.

b. Present value of a single amount.

c. Future value of an annuity.

d. Present value of an annuity.

18. The value that an amount today will grow to in the future is referred to as the:

a. Future value of a single amount.

b. Present value of a single amount.

c. Future value of an annuity.

d. Present value of an annuity.

19. Reba wishes to know how much would be in her savings account in five years if she deposits a given sum in an account that earns 6% interest. She should use a table for the:

a. Future value of $1.

b. Present value of $1.

c. Future value of an annuity of $1.

d. Present value of an annuity of $1.

20. LeAnn wishes to know how much she should set aside now at 7% interest in order to accumulate a sum of $5,000 in four years. She should use a table for the:

a. Future value of $1.

b. Present value of $1.

c. Future value of an annuity of $1.

d. Present value of an annuity of $1.

21. Samuel is trying to determine what it’s worth today to receive $10,000 in four years at a 7% interest rate. He should use a table for the:

a. Future value of $1.

b. Present value of $1.

c. Future value of an annuity of $1.

d. Present value of an annuity of $1.

22. Below are excerpts from interest tables for 8% interest.

1.0000

0.92593

1.08000

0.92593

2.0800

0.85734

1.16640

1.78326

3.2464

0.793833

1.25971

2.57710

4.5061

0.73503

1.36049

3.31213

Column 2 is an interest table for the:

a. Future value of $1.

b. Present value of $1.

c. Future value of an annuity of $1.

d. Present value of an annuity of $1.

23. Below are excerpts from interest tables for 8% interest.

1.0000

0.92593

1.08000

0.92593

2.0800

0.85734

1.16640

1.78326

3.2464

0.793833

1.25971

2.57710

4.5061

0.73503

1.36049

3.31213

Column 3 is an interest table for the:

a. Future value of $1.

b. Present value of $1.

c. Future value of an annuity of $1.

d. Present value of an annuity of $1.

24. How much will $25,000 grow to in seven years, assuming an interest rate of 12% compounded annually?

a. $55,267.

b. $46,000.

c. $61,899.

d. $52,344.

25. How much will $8,000 grow to in five years, assuming an interest rate of 8% compounded quarterly?

a. $10,989.

b. $11,755.

c. $11,888.

d. $12,013.

26. What is the value today of receiving $2,500 at the end of three years, assuming an interest rate of 9% compounded annually?

a. $1,984.

b. $1,930.

c. $2,104.

d. $3,238.

27. What is the value today of receiving $5,000 at the end of six years, assuming an interest rate of 8% compounded semiannually?

a. $3,151.

b. $3,203.

c. $3,428.

d. $3,123.

28. Davenport Inc. offers a new employee a lump-sum signing bonus at the date of employment. Alternatively, the employee can take $30,000 at the date of employment and another $50,000 two years later. Assuming the employee’s time value of money is 8% annually, what lump-sum at employment date would make her indifferent between the two options?

a. $60,000.

b. $62,867.

c. $72,867.

d. $80,000.

29. Today, Thomas deposited $100,000 in a three-year, 12% CD that compounds quarterly. What is the maturity value of the CD?

a. $109,270.

b. $119,410.

c. $142,576.

d. $309,090.

30. Carol wants to invest money in a 6% CD that compounds semiannually. Carol would like the account to have a balance of $50,000 five years from now. How much must Carol deposit to accomplish her goal?

a. $35,069.

b. $43,131.

c. $37,205.

d. $35,000.

31. Shane wants to invest money in a 6% CD that compounds semiannually. Shane would like the account to have a balance of $100,000 four years from now. How much must Shane deposit to accomplish his goal?

a. $88,848.

b. $78,941.

c. $25,336.

d. $22,510.

32. Bill wants to give Maria a $500,000 gift in seven years. If money is worth 6% compounded semiannually, what is Maria’s gift worth today?

a. $66,110.

b. $81,310.

c. $406,550.

d. $330,560.

33. At the end of the next four years, a new machine is expected to generate net cash flows of $8,000, $12,000, $10,000, and $15,000, respectively. What are the cash flows worth today if a 3% interest rate properly reflects the time value of money in this situation?

a. $41,557.

b. $47,700.

c. $32,403.

d. $38,108.

34. Monica wants to sell her share of an investment to Barney for $50,000 in three years. If money is worth 6% compounded semiannually, what would Monica accept today?

a. $8,375.

b. $41,874.

c. $11,941.

d. $41,000.

35. How much must be invested now at 9% interest to accumulate to $10,000 in five years?

a. $9,176.

b. $6,499.

c. $5,500.

d. $5,960.

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July 1, 2023

56.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

Protocol Company has acquired equipment from a dealer that requires equal payments of $12,000 at the end of the next five years. This transaction includes interest at 9%, compounded annually. What is the value of the machine today?

57.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company is creating a fund today by depositing $65,763. The fund will grow to $90,000 after 8 years. What annual interest rate is the company earning on the fund?

58.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company is setting aside $21,354 today, and wishes to have $30,000 at the end of three years for a down payment on a piece of property. What interest rate must the company earn?

59.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company has $50,000 today to invest in a fund that will earn 7%. How much will the fund contain at the end of 8 years?

60.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company has $46,000 today to invest in a fund that will earn 4% compounded annually. How much will the fund contain at the end of 6 years?

61.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

Trey has $105,000 now. He has a loan of $175,000 that he must pay at the end of 5 years. He can invest his $105,000 at 10% interest compounded semiannually. Will Trey have enough to pay his loan at the end of the 5 years?

62.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

Garcia Brass Fixtures is planning on replacing one of its machines in five years by making a one-time deposit of $20,000 today and four yearly contributions of $5,000 beginning at the end of year 1. The deposits will earn 10% interest. How much money will Garcia have accumulated at the end of five years to replace the machine?

63.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company borrows money from the bank by promising to make 6 annual year-end payments of $27,000 each. How much is the company able to borrow if the interest rate is 9%?

64.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company borrows money from the bank by promising to make 8 semiannual payments of $9,000 each. How much is the company able to borrow if the interest rate is 10% compounded semiannually?

65.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

When you reach retirement age, you will have one fund of $100,000 from which you are going to make annual withdrawals of $14,702. The fund will earn 6% per year. For how many years will you be able to draw an even amount of $14,702?

July 1, 2023

56.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

57.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company is creating a fund today by depositing $65,763. The fund will grow to $90,000 after 8 years. What annual interest rate is the company earning on the fund?

58.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company is setting aside $21,354 today, and wishes to have $30,000 at the end of three years for a down payment on a piece of property. What interest rate must the company earn?

59.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company has $50,000 today to invest in a fund that will earn 7%. How much will the fund contain at the end of 8 years?

60.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company has $46,000 today to invest in a fund that will earn 4% compounded annually. How much will the fund contain at the end of 6 years?

61.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

62.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

63.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company borrows money from the bank by promising to make 6 annual year-end payments of $27,000 each. How much is the company able to borrow if the interest rate is 9%?

64.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company borrows money from the bank by promising to make 8 semiannual payments of $9,000 each. How much is the company able to borrow if the interest rate is 10% compounded semiannually?

65.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

July 1, 2023

56.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

57.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company is creating a fund today by depositing $65,763. The fund will grow to $90,000 after 8 years. What annual interest rate is the company earning on the fund?

58.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company is setting aside $21,354 today, and wishes to have $30,000 at the end of three years for a down payment on a piece of property. What interest rate must the company earn?

59.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company has $50,000 today to invest in a fund that will earn 7%. How much will the fund contain at the end of 8 years?

60.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company has $46,000 today to invest in a fund that will earn 4% compounded annually. How much will the fund contain at the end of 6 years?

61.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

62.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

63.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company borrows money from the bank by promising to make 6 annual year-end payments of $27,000 each. How much is the company able to borrow if the interest rate is 9%?

64.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

A company borrows money from the bank by promising to make 8 semiannual payments of $9,000 each. How much is the company able to borrow if the interest rate is 10% compounded semiannually?

65.Present Value of 1

Periods3%4%5%6%7%8%9%10%12%

30.91510.88900.86380.83960.81630.79380.77220.75130.7118

40.88850.85480.82270.79210.76290.73500.70840.68300.6355

50.86260.82190.78350.74730.71300.68060.64990.62090.5674

60.83750.79030.74620.70500.66630.63020.59630.56450.5066

70.81310.75990.71070.66510.62270.58350.54700.51320.4523

80.78940.73070.67680.62740.58200.54030.50190.46650.4039

90.76640.70260.64460.59190.54390.50020.46040.42410.3606

100.74410.67560.61390.55840.50830.46320.42240.38550.3220

Future Value of 1

Periods3%4%5%6%7%8%9%10%12%

31.09271.12491.15761.19101.22501.25971.29501.33101.4049

41.12551.16991.21551.26251.31081.36051.41161.46411.5735

51.15931.21671.27631.33821.40261.46931.53861.61051.7623

61.19411.26531.34011.41851.50071.58691.67711.77161.9738

71.22991.31591.40711.50361.60581.71381.82801.94872.2107

81.26681.36861.47751.59381.71821.85091.99262.14362.4760

91.30481.42331.55131.68951.83851.99902.17192.35792.7731

101.34391.48021.62891.79081.96722.15892.36742.59373.1058

Present Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

32.82862.77512.72322.67302.62432.57712.53132.48692.4018

43.71713.62993.54603.46513.38723.31213.23973.16993.0373

54.57974.45184.32954.21244.10023.99273.88973.79083.6048

65.41725.24215.07574.91734.76654.62294.48594.35534.1114

76.23036.00215.78645.58245.38935.20645.03304.86844.5638

87.01976.73276.46326.20985.97135.74665.53485.33494.9676

97.78617.43537.10786.80176.51526.24695.99525.79505.3282

108.53028.11097.72177.36017.02366.71016.41776.14465.6502

Future Value of an Annuity of 1

Periods3%4%5%6%7%8%9%10%12%

33.09093.12163.15253.18363.21493.24643.27813.31003.3744

44.18364.24654.31014.37464.43994.50614.57314.64104.7793

55.30915.41635.52565.63715.75075.86665.98476.10516.3528

66.46846.63306.80196.97537.15337.33597.52337.71568.1152

77.66257.89838.14208.39388.65408.92289.20049.487210.089

88.89239.21429.54919.897510.26010.63711.02911.43612.300

910.15910.58311.02711.49111.97812.48813.02113.58014.776

1011.46412.00612.57813.18113.81614.48715.19315.93717.549

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