Future Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
3.0909
3.1216
3.1525
3.1836
3.2149
3.2464
3.2781
3.3100
3.3744
4
4.1836
4.2465
4.3101
4.3746
4.4399
4.5061
4.5731
4.6410
4.7793
5
5.3091
5.4163
5.5256
5.6371
5.7507
5.8666
5.9847
6.1051
6.3528
6
6.4684
6.6330
6.8019
6.9753
7.1533
7.3359
7.5233
7.7156
8.1152
7
7.6625
7.8983
8.1420
8.3938
8.6540
8.9228
9.2004
9.4872
10.0890
8
8.8923
9.2142
9.5491
9.8975
10.2598
10.6366
11.0285
11.4359
12.2997
9
10.1591
10.5828
11.0266
11.4913
11.9780
12.4876
13.0210
13.5795
14.7757
10
11.4639
12.0061
12.5779
13.1808
13.8164
14.4866
15.1929
15.9374
17.5487
City Peewee League borrowed $883,212, and must make annual year–end payments of
$120,000 each. If City’s interest rate is 6%, how many years will it take to pay off the loan?
70.
Present Value of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
0.9151
0.8890
0.8638
0.8396
0.8163
0.7938
0.7722
0.7513
0.7118
4
0.8885
0.8548
0.8227
0.7921
0.7629
0.7350
0.7084
0.6830
0.6355
5
0.8626
0.8219
0.7835
0.7473
0.7130
0.6806
0.6499
0.6209
0.5674
6
0.8375
0.7903
0.7462
0.7050
0.6663
0.6302
0.5963
0.5645
0.5066
7
0.8131
0.7599
0.7107
0.6651
0.6227
0.5835
0.5470
0.5132
0.4523
8
0.7894
0.7307
0.6768
0.6274
0.5820
0.5403
0.5019
0.4665
0.4039
9
0.7664
0.7026
0.6446
0.5919
0.5439
0.5002
0.4604
0.4241
0.3606
10
0.7441
0.6756
0.6139
0.5584
0.5083
0.4632
0.4224
0.3855
0.3220
Future Value of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
1.0927
1.1249
1.1576
1.1910
1.2250
1.2597
1.2950
1.3310
1.4049
4
1.1255
1.1699
1.2155
1.2625
1.3108
1.3605
1.4116
1.4641
1.5735
5
1.1593
1.2167
1.2763
1.3382
1.4026
1.4693
1.5386
1.6105
1.7623
6
1.1941
1.2653
1.3401
1.4185
1.5007
1.5869
1.6771
1.7716
1.9738
7
1.2299
1.3159
1.4071
1.5036
1.6058
1.7138
1.8280
1.9487
2.2107
8
1.2668
1.3686
1.4775
1.5938
1.7182
1.8509
1.9926
2.1436
2.4760
9
1.3048
1.4233
1.5513
1.6895
1.8385
1.9990
2.1719
2.3579
2.7731
10
1.3439
1.4802
1.6289
1.7908
1.9672
2.1589
2.3674
2.5937
3.1058
Present Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
2.8286
2.7751
2.7232
2.6730
2.6243
2.5771
2.5313
2.4869
2.4018
4
3.7171
3.6299
3.5460
3.4651
3.3872
3.3121
3.2397
3.1699
3.0373
5
4.5797
4.4518
4.3295
4.2124
4.1002
3.9927
3.8897
3.7908
3.6048
6
5.4172
5.2421
5.0757
4.9173
4.7665
4.6229
4.4859
4.3553
4.1114
7
6.2303
6.0021
5.7864
5.5824
5.3893
5.2064
5.0330
4.8684
4.5638
8
7.0197
6.7327
6.4632
6.2098
5.9713
5.7466
5.5348
5.3349
4.9676
9
7.7861
7.4353
7.1078
6.8017
6.5152
6.2469
5.9952
5.7950
5.3282
10
8.5302
8.1109
7.7217
7.3601
7.0236
6.7101
6.4177
6.1446
5.6502
Future Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
3.0909
3.1216
3.1525
3.1836
3.2149
3.2464
3.2781
3.3100
3.3744
4
4.1836
4.2465
4.3101
4.3746
4.4399
4.5061
4.5731
4.6410
4.7793
5
5.3091
5.4163
5.5256
5.6371
5.7507
5.8666
5.9847
6.1051
6.3528
6
6.4684
6.6330
6.8019
6.9753
7.1533
7.3359
7.5233
7.7156
8.1152
7
7.6625
7.8983
8.1420
8.3938
8.6540
8.9228
9.2004
9.4872
10.0890
8
8.8923
9.2142
9.5491
9.8975
10.2598
10.6366
11.0285
11.4359
12.2997
9
10.1591
10.5828
11.0266
11.4913
11.9780
12.4876
13.0210
13.5795
14.7757
10
11.4639
12.0061
12.5779
13.1808
13.8164
14.4866
15.1929
15.9374
17.5487
Giuliani Co. lends $524,210 to Craig Corporation. The terms of the loan require that Craig
make six semiannual period-end payments of $100,000 each. What semiannual interest
rate is Craig paying on the loan?
71.
Present Value of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
0.9151
0.8890
0.8638
0.8396
0.8163
0.7938
0.7722
0.7513
0.7118
4
0.8885
0.8548
0.8227
0.7921
0.7629
0.7350
0.7084
0.6830
0.6355
5
0.8626
0.8219
0.7835
0.7473
0.7130
0.6806
0.6499
0.6209
0.5674
6
0.8375
0.7903
0.7462
0.7050
0.6663
0.6302
0.5963
0.5645
0.5066
7
0.8131
0.7599
0.7107
0.6651
0.6227
0.5835
0.5470
0.5132
0.4523
8
0.7894
0.7307
0.6768
0.6274
0.5820
0.5403
0.5019
0.4665
0.4039
9
0.7664
0.7026
0.6446
0.5919
0.5439
0.5002
0.4604
0.4241
0.3606
10
0.7441
0.6756
0.6139
0.5584
0.5083
0.4632
0.4224
0.3855
0.3220
Future Value of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
1.0927
1.1249
1.1576
1.1910
1.2250
1.2597
1.2950
1.3310
1.4049
4
1.1255
1.1699
1.2155
1.2625
1.3108
1.3605
1.4116
1.4641
1.5735
5
1.1593
1.2167
1.2763
1.3382
1.4026
1.4693
1.5386
1.6105
1.7623
6
1.1941
1.2653
1.3401
1.4185
1.5007
1.5869
1.6771
1.7716
1.9738
7
1.2299
1.3159
1.4071
1.5036
1.6058
1.7138
1.8280
1.9487
2.2107
8
1.2668
1.3686
1.4775
1.5938
1.7182
1.8509
1.9926
2.1436
2.4760
9
1.3048
1.4233
1.5513
1.6895
1.8385
1.9990
2.1719
2.3579
2.7731
10
1.3439
1.4802
1.6289
1.7908
1.9672
2.1589
2.3674
2.5937
3.1058
Present Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
2.8286
2.7751
2.7232
2.6730
2.6243
2.5771
2.5313
2.4869
2.4018
4
3.7171
3.6299
3.5460
3.4651
3.3872
3.3121
3.2397
3.1699
3.0373
5
4.5797
4.4518
4.3295
4.2124
4.1002
3.9927
3.8897
3.7908
3.6048
6
5.4172
5.2421
5.0757
4.9173
4.7665
4.6229
4.4859
4.3553
4.1114
7
6.2303
6.0021
5.7864
5.5824
5.3893
5.2064
5.0330
4.8684
4.5638
8
7.0197
6.7327
6.4632
6.2098
5.9713
5.7466
5.5348
5.3349
4.9676
9
7.7861
7.4353
7.1078
6.8017
6.5152
6.2469
5.9952
5.7950
5.3282
10
8.5302
8.1109
7.7217
7.3601
7.0236
6.7101
6.4177
6.1446
5.6502
Future Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
3.0909
3.1216
3.1525
3.1836
3.2149
3.2464
3.2781
3.3100
3.3744
4
4.1836
4.2465
4.3101
4.3746
4.4399
4.5061
4.5731
4.6410
4.7793
5
5.3091
5.4163
5.5256
5.6371
5.7507
5.8666
5.9847
6.1051
6.3528
6
6.4684
6.6330
6.8019
6.9753
7.1533
7.3359
7.5233
7.7156
8.1152
7
7.6625
7.8983
8.1420
8.3938
8.6540
8.9228
9.2004
9.4872
10.0890
8
8.8923
9.2142
9.5491
9.8975
10.2598
10.6366
11.0285
11.4359
12.2997
9
10.1591
10.5828
11.0266
11.4913
11.9780
12.4876
13.0210
13.5795
14.7757
10
11.4639
12.0061
12.5779
13.1808
13.8164
14.4866
15.1929
15.9374
17.5487
A company is beginning a savings plan. It will be saving $15,000 per year for the next 10
years. How much will the company have accumulated after the tenth year–end deposit,
assuming the fund earns 10% interest compounded annually?
72.
Present Value of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
0.9151
0.8890
0.8638
0.8396
0.8163
0.7938
0.7722
0.7513
0.7118
4
0.8885
0.8548
0.8227
0.7921
0.7629
0.7350
0.7084
0.6830
0.6355
5
0.8626
0.8219
0.7835
0.7473
0.7130
0.6806
0.6499
0.6209
0.5674
6
0.8375
0.7903
0.7462
0.7050
0.6663
0.6302
0.5963
0.5645
0.5066
7
0.8131
0.7599
0.7107
0.6651
0.6227
0.5835
0.5470
0.5132
0.4523
8
0.7894
0.7307
0.6768
0.6274
0.5820
0.5403
0.5019
0.4665
0.4039
9
0.7664
0.7026
0.6446
0.5919
0.5439
0.5002
0.4604
0.4241
0.3606
10
0.7441
0.6756
0.6139
0.5584
0.5083
0.4632
0.4224
0.3855
0.3220
Future Value of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
1.0927
1.1249
1.1576
1.1910
1.2250
1.2597
1.2950
1.3310
1.4049
4
1.1255
1.1699
1.2155
1.2625
1.3108
1.3605
1.4116
1.4641
1.5735
5
1.1593
1.2167
1.2763
1.3382
1.4026
1.4693
1.5386
1.6105
1.7623
6
1.1941
1.2653
1.3401
1.4185
1.5007
1.5869
1.6771
1.7716
1.9738
7
1.2299
1.3159
1.4071
1.5036
1.6058
1.7138
1.8280
1.9487
2.2107
8
1.2668
1.3686
1.4775
1.5938
1.7182
1.8509
1.9926
2.1436
2.4760
9
1.3048
1.4233
1.5513
1.6895
1.8385
1.9990
2.1719
2.3579
2.7731
10
1.3439
1.4802
1.6289
1.7908
1.9672
2.1589
2.3674
2.5937
3.1058
Present Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
2.8286
2.7751
2.7232
2.6730
2.6243
2.5771
2.5313
2.4869
2.4018
4
3.7171
3.6299
3.5460
3.4651
3.3872
3.3121
3.2397
3.1699
3.0373
5
4.5797
4.4518
4.3295
4.2124
4.1002
3.9927
3.8897
3.7908
3.6048
6
5.4172
5.2421
5.0757
4.9173
4.7665
4.6229
4.4859
4.3553
4.1114
7
6.2303
6.0021
5.7864
5.5824
5.3893
5.2064
5.0330
4.8684
4.5638
8
7.0197
6.7327
6.4632
6.2098
5.9713
5.7466
5.5348
5.3349
4.9676
9
7.7861
7.4353
7.1078
6.8017
6.5152
6.2469
5.9952
5.7950
5.3282
10
8.5302
8.1109
7.7217
7.3601
7.0236
6.7101
6.4177
6.1446
5.6502
Future Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
3.0909
3.1216
3.1525
3.1836
3.2149
3.2464
3.2781
3.3100
3.3744
4
4.1836
4.2465
4.3101
4.3746
4.4399
4.5061
4.5731
4.6410
4.7793
5
5.3091
5.4163
5.5256
5.6371
5.7507
5.8666
5.9847
6.1051
6.3528
6
6.4684
6.6330
6.8019
6.9753
7.1533
7.3359
7.5233
7.7156
8.1152
7
7.6625
7.8983
8.1420
8.3938
8.6540
8.9228
9.2004
9.4872
10.0890
8
8.8923
9.2142
9.5491
9.8975
10.2598
10.6366
11.0285
11.4359
12.2997
9
10.1591
10.5828
11.0266
11.4913
11.9780
12.4876
13.0210
13.5795
14.7757
10
11.4639
12.0061
12.5779
13.1808
13.8164
14.4866
15.1929
15.9374
17.5487
A company is beginning a savings plan to purchase new equipment when the current
equipment is expected to wear out. It will be saving $7,500 every six months for the next
10 years. How much will the company have accumulated after the last year-end deposit,
assuming the fund earns 10% interest compounded semiannually?
73.
Present Value of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
0.9151
0.8890
0.8638
0.8396
0.8163
0.7938
0.7722
0.7513
0.7118
4
0.8885
0.8548
0.8227
0.7921
0.7629
0.7350
0.7084
0.6830
0.6355
5
0.8626
0.8219
0.7835
0.7473
0.7130
0.6806
0.6499
0.6209
0.5674
6
0.8375
0.7903
0.7462
0.7050
0.6663
0.6302
0.5963
0.5645
0.5066
7
0.8131
0.7599
0.7107
0.6651
0.6227
0.5835
0.5470
0.5132
0.4523
8
0.7894
0.7307
0.6768
0.6274
0.5820
0.5403
0.5019
0.4665
0.4039
9
0.7664
0.7026
0.6446
0.5919
0.5439
0.5002
0.4604
0.4241
0.3606
10
0.7441
0.6756
0.6139
0.5584
0.5083
0.4632
0.4224
0.3855
0.3220
Future Value of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
1.0927
1.1249
1.1576
1.1910
1.2250
1.2597
1.2950
1.3310
1.4049
4
1.1255
1.1699
1.2155
1.2625
1.3108
1.3605
1.4116
1.4641
1.5735
5
1.1593
1.2167
1.2763
1.3382
1.4026
1.4693
1.5386
1.6105
1.7623
6
1.1941
1.2653
1.3401
1.4185
1.5007
1.5869
1.6771
1.7716
1.9738
7
1.2299
1.3159
1.4071
1.5036
1.6058
1.7138
1.8280
1.9487
2.2107
8
1.2668
1.3686
1.4775
1.5938
1.7182
1.8509
1.9926
2.1436
2.4760
9
1.3048
1.4233
1.5513
1.6895
1.8385
1.9990
2.1719
2.3579
2.7731
10
1.3439
1.4802
1.6289
1.7908
1.9672
2.1589
2.3674
2.5937
3.1058
Present Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
2.8286
2.7751
2.7232
2.6730
2.6243
2.5771
2.5313
2.4869
2.4018
4
3.7171
3.6299
3.5460
3.4651
3.3872
3.3121
3.2397
3.1699
3.0373
5
4.5797
4.4518
4.3295
4.2124
4.1002
3.9927
3.8897
3.7908
3.6048
6
5.4172
5.2421
5.0757
4.9173
4.7665
4.6229
4.4859
4.3553
4.1114
7
6.2303
6.0021
5.7864
5.5824
5.3893
5.2064
5.0330
4.8684
4.5638
8
7.0197
6.7327
6.4632
6.2098
5.9713
5.7466
5.5348
5.3349
4.9676
9
7.7861
7.4353
7.1078
6.8017
6.5152
6.2469
5.9952
5.7950
5.3282
10
8.5302
8.1109
7.7217
7.3601
7.0236
6.7101
6.4177
6.1446
5.6502
Future Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
3.0909
3.1216
3.1525
3.1836
3.2149
3.2464
3.2781
3.3100
3.3744
4
4.1836
4.2465
4.3101
4.3746
4.4399
4.5061
4.5731
4.6410
4.7793
5
5.3091
5.4163
5.5256
5.6371
5.7507
5.8666
5.9847
6.1051
6.3528
6
6.4684
6.6330
6.8019
6.9753
7.1533
7.3359
7.5233
7.7156
8.1152
7
7.6625
7.8983
8.1420
8.3938
8.6540
8.9228
9.2004
9.4872
10.0890
8
8.8923
9.2142
9.5491
9.8975
10.2598
10.6366
11.0285
11.4359
12.2997
9
10.1591
10.5828
11.0266
11.4913
11.9780
12.4876
13.0210
13.5795
14.7757
10
11.4639
12.0061
12.5779
13.1808
13.8164
14.4866
15.1929
15.9374
17.5487
A company is beginning a savings plan to purchase a new building. It will be saving
$43,000 per year for the next 10 years. How much will the company have accumulated
after the tenth year-end deposit, assuming the fund earns 9% interest?
74.
Present Value of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
0.9151
0.8890
0.8638
0.8396
0.8163
0.7938
0.7722
0.7513
0.7118
4
0.8885
0.8548
0.8227
0.7921
0.7629
0.7350
0.7084
0.6830
0.6355
5
0.8626
0.8219
0.7835
0.7473
0.7130
0.6806
0.6499
0.6209
0.5674
6
0.8375
0.7903
0.7462
0.7050
0.6663
0.6302
0.5963
0.5645
0.5066
7
0.8131
0.7599
0.7107
0.6651
0.6227
0.5835
0.5470
0.5132
0.4523
8
0.7894
0.7307
0.6768
0.6274
0.5820
0.5403
0.5019
0.4665
0.4039
9
0.7664
0.7026
0.6446
0.5919
0.5439
0.5002
0.4604
0.4241
0.3606
10
0.7441
0.6756
0.6139
0.5584
0.5083
0.4632
0.4224
0.3855
0.3220
Future Value of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
1.0927
1.1249
1.1576
1.1910
1.2250
1.2597
1.2950
1.3310
1.4049
4
1.1255
1.1699
1.2155
1.2625
1.3108
1.3605
1.4116
1.4641
1.5735
5
1.1593
1.2167
1.2763
1.3382
1.4026
1.4693
1.5386
1.6105
1.7623
6
1.1941
1.2653
1.3401
1.4185
1.5007
1.5869
1.6771
1.7716
1.9738
7
1.2299
1.3159
1.4071
1.5036
1.6058
1.7138
1.8280
1.9487
2.2107
8
1.2668
1.3686
1.4775
1.5938
1.7182
1.8509
1.9926
2.1436
2.4760
9
1.3048
1.4233
1.5513
1.6895
1.8385
1.9990
2.1719
2.3579
2.7731
10
1.3439
1.4802
1.6289
1.7908
1.9672
2.1589
2.3674
2.5937
3.1058
Present Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
2.8286
2.7751
2.7232
2.6730
2.6243
2.5771
2.5313
2.4869
2.4018
4
3.7171
3.6299
3.5460
3.4651
3.3872
3.3121
3.2397
3.1699
3.0373
5
4.5797
4.4518
4.3295
4.2124
4.1002
3.9927
3.8897
3.7908
3.6048
6
5.4172
5.2421
5.0757
4.9173
4.7665
4.6229
4.4859
4.3553
4.1114
7
6.2303
6.0021
5.7864
5.5824
5.3893
5.2064
5.0330
4.8684
4.5638
8
7.0197
6.7327
6.4632
6.2098
5.9713
5.7466
5.5348
5.3349
4.9676
9
7.7861
7.4353
7.1078
6.8017
6.5152
6.2469
5.9952
5.7950
5.3282
10
8.5302
8.1109
7.7217
7.3601
7.0236
6.7101
6.4177
6.1446
5.6502
Future Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
3.0909
3.1216
3.1525
3.1836
3.2149
3.2464
3.2781
3.3100
3.3744
4
4.1836
4.2465
4.3101
4.3746
4.4399
4.5061
4.5731
4.6410
4.7793
5
5.3091
5.4163
5.5256
5.6371
5.7507
5.8666
5.9847
6.1051
6.3528
6
6.4684
6.6330
6.8019
6.9753
7.1533
7.3359
7.5233
7.7156
8.1152
7
7.6625
7.8983
8.1420
8.3938
8.6540
8.9228
9.2004
9.4872
10.0890
8
8.8923
9.2142
9.5491
9.8975
10.2598
10.6366
11.0285
11.4359
12.2997
9
10.1591
10.5828
11.0266
11.4913
11.9780
12.4876
13.0210
13.5795
14.7757
10
11.4639
12.0061
12.5779
13.1808
13.8164
14.4866
15.1929
15.9374
17.5487
You are little late planning your retirement, but are looking forward to retiring in 10 years.
You expect to save $6,000 a year at an annual rate of 8%. How much will you have
accumulated when you retire?
75.
Present Value of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
0.9151
0.8890
0.8638
0.8396
0.8163
0.7938
0.7722
0.7513
0.7118
4
0.8885
0.8548
0.8227
0.7921
0.7629
0.7350
0.7084
0.6830
0.6355
5
0.8626
0.8219
0.7835
0.7473
0.7130
0.6806
0.6499
0.6209
0.5674
6
0.8375
0.7903
0.7462
0.7050
0.6663
0.6302
0.5963
0.5645
0.5066
7
0.8131
0.7599
0.7107
0.6651
0.6227
0.5835
0.5470
0.5132
0.4523
8
0.7894
0.7307
0.6768
0.6274
0.5820
0.5403
0.5019
0.4665
0.4039
9
0.7664
0.7026
0.6446
0.5919
0.5439
0.5002
0.4604
0.4241
0.3606
10
0.7441
0.6756
0.6139
0.5584
0.5083
0.4632
0.4224
0.3855
0.3220
Future Value of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
1.0927
1.1249
1.1576
1.1910
1.2250
1.2597
1.2950
1.3310
1.4049
4
1.1255
1.1699
1.2155
1.2625
1.3108
1.3605
1.4116
1.4641
1.5735
5
1.1593
1.2167
1.2763
1.3382
1.4026
1.4693
1.5386
1.6105
1.7623
6
1.1941
1.2653
1.3401
1.4185
1.5007
1.5869
1.6771
1.7716
1.9738
7
1.2299
1.3159
1.4071
1.5036
1.6058
1.7138
1.8280
1.9487
2.2107
8
1.2668
1.3686
1.4775
1.5938
1.7182
1.8509
1.9926
2.1436
2.4760
9
1.3048
1.4233
1.5513
1.6895
1.8385
1.9990
2.1719
2.3579
2.7731
10
1.3439
1.4802
1.6289
1.7908
1.9672
2.1589
2.3674
2.5937
3.1058
Present Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
2.8286
2.7751
2.7232
2.6730
2.6243
2.5771
2.5313
2.4869
2.4018
4
3.7171
3.6299
3.5460
3.4651
3.3872
3.3121
3.2397
3.1699
3.0373
5
4.5797
4.4518
4.3295
4.2124
4.1002
3.9927
3.8897
3.7908
3.6048
6
5.4172
5.2421
5.0757
4.9173
4.7665
4.6229
4.4859
4.3553
4.1114
7
6.2303
6.0021
5.7864
5.5824
5.3893
5.2064
5.0330
4.8684
4.5638
8
7.0197
6.7327
6.4632
6.2098
5.9713
5.7466
5.5348
5.3349
4.9676
9
7.7861
7.4353
7.1078
6.8017
6.5152
6.2469
5.9952
5.7950
5.3282
10
8.5302
8.1109
7.7217
7.3601
7.0236
6.7101
6.4177
6.1446
5.6502
Future Value of an Annuity of 1
Periods
3%
4%
5%
6%
7%
8%
9%
10%
12%
3
3.0909
3.1216
3.1525
3.1836
3.2149
3.2464
3.2781
3.3100
3.3744
4
4.1836
4.2465
4.3101
4.3746
4.4399
4.5061
4.5731
4.6410
4.7793
5
5.3091
5.4163
5.5256
5.6371
5.7507
5.8666
5.9847
6.1051
6.3528
6
6.4684
6.6330
6.8019
6.9753
7.1533
7.3359
7.5233
7.7156
8.1152
7
7.6625
7.8983
8.1420
8.3938
8.6540
8.9228
9.2004
9.4872
10.0890
8
8.8923
9.2142
9.5491
9.8975
10.2598
10.6366
11.0285
11.4359
12.2997
9
10.1591
10.5828
11.0266
11.4913
11.9780
12.4876
13.0210
13.5795
14.7757
10
11.4639
12.0061
12.5779
13.1808
13.8164
14.4866
15.1929
15.9374
17.5487
A company is setting up a sinking fund to pay off $8,654,000 in bonds that are due in 7
years. The fund will earn 7% interest, and the company intends to put away a series of
equal year-end amounts for 7 years. What is the amount of the annual deposits that the
company must make?