50.1K

Verified Solution

Link Copied!

Julia Medavoy will invest $8,450 a year for 15 years in a fund that will earn 10% annual interest Click here to view factor tables If the first payment into the fund occurs today, what amount will be in the fund in 15 years? If the first payment occurs at year-end, what amount will be in the fund in 15 years? (Round factor values to S decimal places, es, 1.25124 and final answers to o decimal places, e.g. 458,581.) First payment today First payment at year-end $ 3% TABLE 6.1 Future Value of 1 (Future Value of a Single Sum) FVF, = (1 + )" in) Periods 2% 24% 4% 1 1.02000 1.02500 1.03000 1.04000 2 1.04040 1.05063 1.06090 1.08160 3 1.06121 1.07689 1.09273 1.12486 4 1.08243 1.10381 1.12551 1.16986 5 1.10408 1.13141 1.15927 1.21665 5% 1.05000 1.10250 1.15763 1.21551 1.27628 6% 1.06000 1.12360 1.19102 1.26248 1.33823 6 7 8 9 10 1.12616 1.14869 1.17166 1.19509 1.21899 1.15969 1.18869 1.21840 1.24886 1.28008 1.19405 1.22987 1.26677 1.30477 1.34392 1.26532 1.31593 1.36857 1.42331 1.48024 1.34010 1.40710 1.47746 1.55133 1.62889 1.41852 1.50383 1.59385 1.68948 1.79085 11 12 13 14 15 1.24337 1.26824 1.29361 1.31948 1.34587 1.31209 1.34489 1.37851 1.41297 1.44830 1.38423 1.42576 1.46853 1.51259 1.55797 1.53945 1.60103 1.66507 1.73168 1.80094 1.71034 1.79586 1.88565 1.97993 2.07893 1.89830 2.01220 2.13293 2.26090 2.39656 16 17 18 19 20 1.37279 1.40024 1.42825 1.45681 1.48595 1.48451 1.52162 1.55966 1.59865 1.63862 1.60471 1.65285 1.70243 1.75351 1.80611 1.87298 1.94790 2.02582 2.10685 2.19112 2.18287 2.29202 2.40662 2.52695 2.65330 2.54035 2.69277 2.85434 3.02560 3.20714 8% 1.08000 1.16640 1.25971 1.36049 1.46933 9% 1.09000 1.18810 1.29503 1.41158 1.53862 10% 1.10000 1.21000 1.33100 1.46410 1.61051 11% 1.11000 1.23210 1.36763 1.51807 1.68506 12% 1.12000 1.25440 1.40493 1.57352 1.76234 15% 1.15000 1.32250 1.52088 1.74901 2.01136 (n) Periods 1 2 4 1.58687 1.71382 1.85093 1.99900 2.15892 1.67710 1.82804 1.99256 2.17189 2.36736 1.77156 1.94872 2.14359 2.35795 2.59374 1.87041 2.07616 2.30454 2.55803 2.83942 1.97382 2.21068 2.47596 2.77308 3.10585 2.31306 2.68002 3,05902 3.51788 4,04556 8 7 8 9 10 2.33164 2.51817 2.71962 2.93719 3.17217 2.58043 2.81267 3.06581 3.34173 3.64248 2.85312 3.13843 3.45227 3.79750 4.17725 3.15176 3.49845 3.88328 4.31044 4.78459 3.47855 3.89598 4.36349 4.88711 5.47357 4.65239 5.35025 6.15279 7.07571 8.13706 11 12 13 14 15 3.42594 3.70002 3.99602 4.31570 4.66096 3.97031 4.32763 4.71712 5.14166 5.60441 4.59497 5.05447 5.55992 6.11591 6.72750 5.31089 5.89509 6.54355 7.26334 8.06231 6.13039 6.86604 7.68997 8.61276 9.64629 9.35762 10.76126 12.37545 14.23177 16.36654 16 17 18 19 20

Answer & Explanation Solved by verified expert

See Answer