Target Corporation prepares its financial statements according to U.S. GAAP. Targets financial statements and disclosure notes for the year ended February 3, 2018, are available here. This material is also available under the Investor Relations link at the companys website (www.target.com).(FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: In its Analysis of Financial Condition: New Accounting Pronouncements, Targets financial statements for the year ended February 3, 2018, the company indicates that In February 2016, the FASB issued ASU No. 2016-02, Leases, to require organizations that lease assets to recognize the rights and obligations created by those leases on the balance sheet. The new standard is effective in 2019. Refer to Note 22: Leases. New lease accounting guidance requires companies to record a right-of-use asset and a lease liability for all leases, with the exception of short-term leases, at present value. If Target had used the new lease accounting guidance in its fiscal 2017 (February 3, 2018) financial statements, what would be the amount reported as a liability for its leases, operating and capital (finance) combined ? (Do not round intermediate calculations. Enter your answers to nearest millions. Round final answer to the nearest whole value.) Hint: Assume the payments after 2020 are to be paid evenly over a 16-year period and all payments are at the end of years indicated. Target indicates elsewhere in its financial statements that 6% is an appropriate discount rate for its leases.

TABLE 1 Future Value of $1 FV = $1(1+)" wi 1 2 3 4 1.0% 1.01000 1.02010 1.03030 1.04060 1.5% 1.01500 1.03022 1.04568 1.06136 2.0% 1.02000 1.04040 1.06121 1.08243 1.10408 2.5% 1.02500 1.05063 1.07689 1.10381 1.13141 3.0% 3.5% 1.03000 1.03500 1.06090 1.07123 1.09273 1.10872 1.12551 1.14752 1.15927 1.18769 4.0% 4.5% 5.0% 5.5% 1.04000 104500 1.05000 1.05500 1.08160109203 110250 111303 1.12486 1.14117 1.15763 117424 1.16986 1.19252 1.21551 1.23882 1.21665 1.24618 1.27628 1.30696 6.0% 1.06000 1.12360 1.19102 1.26248 1.33823 70% 1.07000 114490 1.22504 1.31080 1.40255 8.0% 1.08000 1.16640 1.25971 1.36049 1.46933 0.0% 1.09000 1.18810 1.29503 1.41158 1.53862 10.0% 1.10000 1.21000 1.33100 1.46410 1.61051 11.0% 111000 1.23210 1.36763 1.51807 1.68506 12.0% 1.12000 1.25440 1.40493 1.57352 1.76234 20.0% 1.20000 1.44000 1.72800 2.07360 2.48832 2.98598 6 7 8 9 10 1.06152 1.09344 1.12616 1.07214 1.10984 1.14869 1.08286 1.12649 1.17166 1.09369 1.14339 1.19509 1.10462 1.16054 121899 1.15969 1.19405 1.22926 126532 1.30226 1.34010 1.37884 1.18869 1.22987 1.27228 1.31593 1.36086 1.40710 1.45468 1.21840 1.26677 1.31681 1.36857 1.42210 1.47746 1.53469 1.24886 1.30477 1.36290 1.42331 1.48610 1.55133 1.61909 1.28008 134392 1.41060 1.48024 1 55297 162889 170814 1.41852 1.50363 1.59385 1.68948 1.79085 1.50073 1.60578 1.71819 1.83846 196715 1.58687 1.67710 1.77156 1.87041 1.97382 1713821.82804 1.948722.07616 2.21068 1.850931.99256 2.14359 2.30454 2.47596 1.99900 2.171892 357952.55804 277308 215892236736259374 2839423.10585 3.58318 4.29982 5.15978 .19174 6 11 1.11567 1.17795 1.24337 1.31209138423 1.45997 153945 162285 1.71034 180209189830 2.10485 12 1.12683 1.19562 1.26824 1.344891.42576 1.51107 1.60103 1.69588 .79586 1.90121201220 225219 13 1.13809 1.21355 1.29361 1.37851 1.46853 1.56396 1.56507 1.77220 1.88565 2.00577 2.13293 2.40985 14 1.14947 1.23176 1.31948 1.41297 1.51259 1.61869 1.73168 1.85194 197993211609 2.260902.57853 15 116097 1.25023 1.34587 1.44830 1.55797 1.67535 1.80094 1.93528 2.07893 223248 239656 2.75903 233164 2.51817 2.71962 2.93719 3.17217 258043 2.81266 3.06580 3.34173 3.64248 2.85312 3.15176 3.47855 3.13843 3.49845 3.89598 3.452273.88328 4.36349 3.79750 4.31044 4.88711 4.17725 4.784595.47357 7.43008 8.91610 10.69932 12.83918 15.40702 16 117258 1.26899 137279 1.48451 160471 1.73399 1.87298 2 02237 218287 235526 254035 17 18430 1.28802 1.40024 1.52162 165285 1.79468 194790 2.11338 229202 248480269277 18 1.19615 1.30734 1.42825 1.55966 1.70243 1.85749 202582 2.20848 2.40662 262147 285434 19 120811 1.32695 1.45681 1.59865 1.75351 1.92250 210685230786 2.52695 2.76565 3.02560 20 1.22019 1.34686 1.48595 163862 1.80611 1.98979 2.19112 2.41171 265330 291776 3.20714 2.95216 3.42594 3.97031 459497 531089613039 3.15882 3.70002432763505447589509686604 3.379933.99602 4.717125.55992 6.54355 7.68997 3.61653 431570 5.14166 6.11591726334 861276 3.86968 466096 5.60441 6.72750 8.06231 9.61629 18.48843 22.18611 26.62333 31.94800 38.33760 21 1.23239 1.36706 1.51567 1.67958 1.86029 2.05943 2.27877 2.52024 2.78596 3.07823 3.39956 25 1.28243 1.45095 1.64061 1.85394 2.09378 2.36324 2.66584 3.00543 3.38635 3.81339429187 30 1.34785 1.56308 1.81136 2.09757 2.42726 2.80679 3.24340 3.74532 4.32194 4.98395 5.74349 40 1.48886 1.81402 2.20804 2.68506 3.26204 3.95926 4.80102 5.81636 7.03999 8.51331 10.28572 4.14056 5.03383 5.42743 6.84848 7.61226 10.06266 14.97446 21.72452 6.108817.40025 8.94917 10.80385 46.00512 8.62308 10.83471 13.58546 17.00006 95.39622 13.26768 17.44940 22.89230 29.95992237.37631 31.40942 45.25926 65.00087 93.05097 1469.77160 TABLE 2 Present Value of $1 $1 PV- (1+1) R 1.0% 1.5% 2.0% 2.5% 3.0% 35% 40% 45% 5.0% 5.5% 60% 70% 8.0% 9,0% 10.0% 11.0% 12.0% 20.0% 10.99010 0.98522 098039 097561 0.97087 0.96618 096154 095694 095238 094787 094340 0.93458 0.92593 0.91743 090909090090 0.89286 083333 2 098030 0.97066 096117 095181 0.94360 0.93351092456 091573 090703 089845 089000 0.87344 0.85734 0.84168 0.83645 0.81162 0.79719 0.69444 3 0.97059 0.95632 094232 092860 091514 0.90194 0.88900087630 086384 085161 0.83962 0.81630 0.79383 0.77218 0.75131 0.73119 0.71178 0.57870 4 0.96098 0.94218 0.92385 0.90595 0.88849 0.87144 0.85480 0.83856 080270 080722 0.79209 0.76290 0.73503 0.70843 0.68301 0.65873 0.63552 0.48225 5 0.95147 0.92826 0.90573 0.88385 0.86261 0.84197 0.82193 0.80245 0.78353 0.76513 0.74726 0.71299 0.68058 0.64993 0.62092 0.59345 0.56743 0.40188 6 0.94205 0.91454 0.88797 0.86230 0.83748 0.81350 0.79031 0.76790 0.74622 0.72525 0.70496 0.6664 0.63017 0.59627 0.56447 0.53464 0.50663 0.33490 7 0.93272 0.90103 0.87056 0.84127 0.81309 0.78599 0.75992 0.73483 0.71068 0.68744 0.66506 0.62275 0.58349 0.54703 0.51316 0.48166 0.45235 0.27908 8 0.92348 0.88771 0.85349 0.82075 0.78941 0.75941 0.73069 0.70319 0.67684 0.65160 0.62741 0.58201 0.54027 0.50187 0.46651 0.43393 0.40388 0.23257 9 0.91434 0.87459 0.83676 0.80073 0.76642 0.73373 0.70259 0.67290 0.64461 0.61763 0_59190 0.54393 0.50025 0.46043 0.42410 0.39092 0.36061 0.19381 10 0.90529 0.86167 0.82035 0.78120 0.74409 0.70892 0.67556 0.64393 0.61391 0.58543 0.55839 0.50835 0.46319 0.42241 038554 0.35218 0.32197 0.16151 11 0.89632 0.84893 0.80426 0.76214 0.72242 0.65495 0.64958 0.61620 0.58468 0.55491 0.52679 0.47509 0.43858 0.38753 0.35049 0.31728 0.28743 0.13459 12 088745 0.83639 0.75549 0.74356 0.70138 0.56178 062460058966055654 0.52598 0.49697044401039711035553 031863 0.28584 0.25665 0.11216 13 0.87866 0.82403 0.77303 0.72542 0.65095 0.639400.60057 056427 053032 0.49856 0.46554 0.41496 0.36770 0.32618 0.28966 0.25751 0.21917 0.09346 14 0.86996 081185 0.75788 0.70773 0.66112 0.61778 0.57745 53997 0S0S07 0.47257 0.44230 0.38782 0.34046 0.29925 0.26333 0.23199 0.20462 0.07789 15 0.86135 0.79985 0.74301 0.69047 0.64186 0.59689 0.55526 0.51672 0.48102 0.44793 0.41727 0.36245 0.31524 0.27454 0.23939 0.20900 0.18270 0.06491 16 0.85282 0.78503 0.72845 0.67362 0.62317 0.57671 0.53391 0.49447 0.45811 0.43458 239365 0.33873 0.29189 0.25187 0.21763 0.18829 0.16312 0.05409 17 0.84435 0.77639 0.71416 0.65720 0.60502 0.55720 0.51337 0.47316 0.43630 0.40245 0.37136 0.31657 0.27027 0.23107 0.19784 0.16963 0.14564 0.04507 13 033602 0.76491 0.70016064117 0.58739053336049363045250041552035147035034029556 0.25025 0.21199017986 0.15282 0.13004 0.03756 19 0.82774 0.75361 0.68543 0.62553 0.57029 0.52016 0.47454 0.43330 39573 0.36158 033051 0.27651 0.23171 0.19449 0.16351 0.13768 0.11611 0.03130 20 0.81954 0.74247 0.67297 0.61027 0.55368 0.50257 0.45639 0.41466 037689 034273031130 0.25842 0.21455 0.17343 0.14364 0.124030.10367 0.02608 21 0.81143 6.73150 0.69978 0_59539 0.53755 0.48.557 0.43883 39679035894 033456 0_29416 0_24151 0.19866 0.16370 0.13513 0.11174 0.092.56 0.02174 24 0.78757 0.69954 0.62172 0.55258 0.491930.43796 039012034770031007 0.27666024698019715 0.15770 0.12640 0.101530.08170 0.06588 0.01258 25 0.77977 0.68921 0.60953 0.53939 0.47761 0.42315 0.37512 0.33273 0.29530 0.26223 0.233000.18435 0.14602 0.11597 0.09230 0.07361 0.05882 0.01048 28 0.75684 0.65910 0.57437 0.50058 0.43708 0.38165 0.33348 0.29157 025509 0.22332 0.19563 0.15040 0.11591 0.08955 0.06934 0.05382 0.04187 0.00607 29074934 0.64936 056311048866 0.4243536375 03206502790214295 021168 15456 014056 0.10733 008215 0.06304 0.04849 0.03738 0.00506 30 0.74192 0.63976 0.55207 0.47674 0.41199 0.35628 31 0.73458 0.63031 0.54125 0.46511 0.39999 0.34423 40 0.67165 0.55126 0.45289 037243 0.30656 0.25257 0.30832 0.36700 0.29546 0.25550 0.20829 0.17193 0.23138 0.22036 0.14205 0.20064 0.17411 0.19018 0.16425 0.11746 0.09722 0.13137 0.09938 0.07537 0.12277 0.09202 0.06915 0.06675 0.04603 0.03184 0.05731 0.04368 0.03338 0.05210 0.03935 0.02980 0.02209 0.01538 0.01075 0.00421 0.00351 0.00068 TABLE 3 Future Value of an Ordinary Annuity of $1 FVA - (1+1 -1 wi 1 2 3 4 1.0% 1.0000 2.0100 3.0301 4.0604 2.5% 10000 2.0150 3.0452 4.0909 2.0% 1.000 2.0200 3.0604 4.1216 2.5% 1.000 2.0250 3.0756 4.1525 3.0% 1.000 2.0300 3.0909 4.1836 35% 4.0% 4,5% 1.000 1.0000 1.000 2.0350 2.04002.0450 3.10623.1216 3.1370 4.21494.2465 4.2782 5.0% 55% 1.0000 10000 20500 20550 3.1525 3.1680 4.31014 3423 6.0% 10000 20600 3.1836 .3746 70% 10000 2.0700 3.2149 4.4399 8.0% 10000 2.0800 3.2464 4.5061 9.0% 1.000 2.0900 3.2781 4.5731 10.0% 1.000 2.1000 3.3100 4.6410 11.0% 1.000 2.1100 3.3421 4.7097 12.0% 1.000 2.1200 3.3744 4.7793 20.0% 1.0000 2.2000 3.6400 5.3680 4 5.4707 5.5256 5.58115.6371 5.7507 5.8666 5.9847 6.1051 6.2278 6.3528 7.4416 7 8 9 10 6.1520 7.2135 8.2857 9.3685 10.4622 6.2296 73230 8.4328 9.5593 10.7027 6.3081 6.3877 7.4343 75474 8.5830 8.7361 9.7546 99545 10.9497 11.2034 6.4684 6.5502 6.6330 6.7169 6.80196.8881 69753 7662577794 78983 8.01928.1420 8.266983938 8.89239.0517921429.3800 9.549197216 9.8975 10.1591 10.3685 10.5828 10.8021 11.0266 11.2563 114913 11.4639 11.7314 12.0061 12.2882 12.5779128754 13.1808 7.15337.33597.52337.7156 79129 8.6540 89228 9.2004 9.4872 9.7833 10 2598 10.6366 11.028511.435911.8594 11 9780 12.4876 13.0210 13.5795 14.1640 13.8164 14.4866 15.1929 159374 16.7220 8.11529.9299 10.0890 12.9159 12.2997 16.4991 14.7757 20.7989 17.5487 259587 11 12 13 14 15 11.5668 12.6825 13.8093 14.9474 16.0969 11.8633 12.1687 13.0412 13.4121 14.2368 14.6803 15.4504 15.9739 16.6821 17.2934 12.4835 13.7956 15.1404 16.5190 17.9319 12.8078 14.1920 156178 17.0863 18.5989 13.1420 14.6020 16.1130 17.6770 19.2957 13.4864 13.8412 15.0258 15.4640 16.6268 17.1599 18 291918.9321 20.0236 20.7841 14.2068 15.9171 17.7130 19.5986 21.5786 14.5835 16.3856 18 2868 20 2926 22.4087 14.9716 15.7836 16.8699 17.8855 18882120.1406 21 0151 22.5505 23.2760 25.1290 16.6455 17.5603 18.5312 18.977120.1407 21.3543 21.4953 22.9534 24.5227 24.2149 26.0192 279750 27.1521 29.360931.7725 19.5614 22.7132 26.2116 30.0949 34.4054 20.6546 24.1331 28.0291 32 3926 37.2797 32.1504 39.5805 48.4966 59.1959 7 2.0351 179324 18.6393 19.3802 20.1569 20.9710 21.8245 17 18.4304 19.2014 20.0121 20.8647 21.7616 22.7050 23.6975 18 19.6147 20.4894 21.4123 22.3863 23.414424.4997 25.6454 19 20.8109 21.7967 22.8406 23.9460 25.1169 26.3572 27.6712 20 22.0190 23.1237 24.2974 25.5447 26.8704 28.2797 29.7781 22.7193 24.7417 26.8551 29.0636 31.3714 23.6575 25.8404 28.1324 30.5390 33.0660 24.6411 25.6725 26.9964 28.2129 29.4812 30.9057 32.1027 33.7600 34.8683367856 27.8881 30 8402 33.9990 37.3790 40.9955 30.334333.0034 33.7502 36.9737 37.450241.3013 41.4463 46.0185 45.7620 51.1601 35.9497 39.1899 42.7533 40.5447 44.5008 48.8837 45.599250.395955.7497 51.1591 56.9395 63.4397 57.2750 64.2028 72.0524 8 7.4421 105.9306 128.1167 154.7400 186.6880 21 30 40 23.2392 24.4705 25.7833 27.1833 28.676530.2695 31.9692 33.7831 35.7193 37.7861 39.9927 44.8652 50.4229 56.7645 64.0025 72.2651 $1.6987 225.0256 34.784937 5387 40.5681 43.9027 47 5754 51.6227 56 084961.0071 66.4388 72.4355 79.058294.4608 113 2832 136 3075 164.4940 199.02092413327 1181.8816 48.8864 54.2679 60.4020 67.4026 75.4013 84.5503 95.0255 107.0303 120.7998 136.6056 154.7620 199.6351 259.0565337.8824 442.5926 581.8261 767.0914 7343.8578 TABLE 4 Present Value of an Ordinary Annuity of $1 1 - 12 PVA =- 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 20.0% 1 2 3 4 0.99010 0.98522 197040 1.95583 2940992.91220 3.90197 3.85438 4.85343 4.78264 0.98039 0.975610.97087 1.94156 1.92742 1.91347 2.88358 2.85602 2.82861 3.807733.76197 3.71710 4.71346 4.64583 4.57971 0.96618 0.96154 0.956940.95238 0.94787 0.94340 0.934580.92593 0.91743 0.90909090090 0.89286 0.83333 89969155609157267 185941 134632 1833391 80802 1.78326 175911 1.73554 1.71252 1.69005 1.52778 2.80164 2.77509 2.74896 2.72325269793267301262432 2577102.53129 2.48685 2.44371 2.40183 2.10648 3.67308 3.62990 3.58753 3.54595 3.50515 3.46511 338721 3.31213 3.23972 3.16987 3.10245 3.03735 2.58873 4.51505 4.45182 4.38998 4.32948 4.27028 421236 4.10020 3.99271 3.88965 3.79079 3.69590 3.60478 2.99061 5 6 5.79548 5.69719 5.60143 5.508135.41719 5.328555.34214 5.15787 5.07569 4.99553491732 4.76654 4.62288 4.48.592 4.35526 4.23054 4.11141 3.32551 7 8 9 10 6.72819 7.65168 8.56602 9.47130 6.59821 6.47199 7.485937.32548 8.36052 8.16224 9.22218 8.98259 6.349396.23028 6.11454 6.00205 5.892705.786375.68297 5.58238 5.389295.20637 7.170147.01969 6.87396 6.73274 6.595896.46321 633457620979597130 5.74664 7.970877.786117.607697.435337.26879710782 695220680169 6.515236.24689 8.75206 8.53020831661 8.11090 791272 772173 753763 736009702358 6.71008 5.03295 5.53482 5.99525 6,41766 4.86842 4.71220 4.56376 5.33493 5.14612 4.96764 5.75902 5.53705 5.32825 6.14457 588923 565022 3.60459 3.83716 4.03097 4.19247 11 10.36763 12 11.25508 13 12.13374 14 13.00370 15 13.86505 10.07112 9.78685 9.51421 10.90751 10.57534 10.25776 11.73153 11.34837 10.98319 12.54338 12.10625 11.69091 13.34323 12.84926 12.38138 9.252629.00155 8.76048 9.95400 9.66333 938507 10.63496 10.30274 9.98565 11.29607 10.92052 10.56312 11.93794 11.51741 11.11839 8.52892 8.30641 9.11858 8.86325 9.68285 9.39357 10.22283 9.89864 10.7395510.37966 .69254 788687 7.49 8.61852838384 794269753608 9.11708 8.85268 8.35765 790378 9.589659.294988.74547 8.24424 10.03758 9.71225 9.10791 8.55948 7.16073 6.81369 7.486907.10336 7.78615 7.36669 8.06069 7.60608 6.49236 6.74987 6.98187 7.19087 6.19437 6.42355 6.62817 6.81086 4.43922 4.53268 4.61057 4.67547 16 14.71787 17 15.56225 18 1639827 19 1722601 2018.04555 14.13126 13.57771 13.05500 12.56110 14.90765 14.29187 13.7122013.16612 15.67256 14.99203 14.35336 13.75351 16.42617 15.67846 14.97589 14.32380 17.16864 16.35143 15.58916 14.87747 12.09412 12.65132 13.18968 13.70984 1421240 11.65230 12.16567 12.65930 13.13394 13.59033 11.23402 10.83777 11.70719 11 27407 12.159991168959 12.59329 12.08532 13.00794 12.46221 10.46216 10.86461 11.24607 11.60765 11.95038 10.105909.446658.85137 8.31256 7.82371 7.37916 6.97399 4.72956 10.47726 9.76322 9.12164 8.54363 8.02155 7.54879 7.11963 4.77463 1082760 10.059099.371893.75563 8.20141 7.701627.24967 4.81219 11.158121033560 9.60360 895011 8.36492783929 736578 4.84350 11.46992 10.59401 9.81815 9.12855 8.51356 796333 746944 4.86958 21 25 30 18.85698 17.90014 17.01121 22.02316 20.71961 19.52346 25.80771 24.01584 22.39646 16.18455 18.42438 20.93029 15.41502 17.41315 19.60044 14.69797 14.02916 16.48151 15.62208 18.39205 17 29203 13.40472 12.82115 14.82821 14.09394 16.288891537245 12.27524 11.76408 13.41393 12.78336 14.53375 13.76483 10.83553 11.65358 12.40904 10.01680 10.67478 11.25778 9.29224 8.64869 3.07507 9.82258 9.07704 3.42174 10.273659.42691 8.69379 7.56200 7.84314 8.05518 4.89132 4.94759 4.97894 91585 27.35548 25.10278 23.11477 21 35507 19.79277 18.40158 17.15909 16.04612 15.04630 13.33171 11.92461 10.75736 9.77905 8.951 TABLE 5 Future Value of an Annuity Due of $1 (1 + 0 - 1 FVAD X (1+i) 1.0961.592.096 2.59 3.096 3.59 4.04455.0 6 .095 704 0 904610.04 1109612096 20.09% 1 2 3 4 5 1.0100 2.0301 3.0604 4.1010 5.1520 1.0150 1.0200 1.0250 1.0300 1.0350 1.0400 20452 2.060420756 2.0909 2.1062 2.1216 3.09093.1216 3.1525 3.1836 3.21493.2465 4.1523 4.2040 4.2563430914.3625 4.4163 52296 53081 53877 5.4684 5.5502 56330 1.0450 2.1370 3.2782 1.2000 2.6400 1.0500 21525 3.3101 10SSO 2.1680 3.3423 1.0600 1.0700 2.1836 22149 3.3746 3.4399 4.6371 4.7507 5975361533 1.0800 1.0900 1.1000 2.24642.2781 23100 3.5061 3.5731 3.6410 4.8666 498475 1051 633596.5233 67156 11100 1.1200 2.3421 2.3744 3.7097 3.7793 52278 691297.1152 4.3680 64416 58881 89299 6 7 8 6.21356.3230 7.2857 74328 8.3685 8.5593 9.4622 9.7027 10.5668 10.8633 6.4343 7.5830 8.7546 9.9497 11.1687 6.5474 7.7361 8.9545 10.2034 11.4835 6.6625 6.7794 7.89238.0517 9.15919.3685 10.4639 10.7314 11.807812.1420 6.8983 8.2142 9.5828 11.0061 12.4864 8.3800 9.8021 11.2882 12.8412 7.1420 726697.39387.6540 79228 8.54918.7216 8.8975 9.25989 .6366 10.0266 10.2563 10.4913 10.9780 11.4876 11.5779118754 12.1808 12.8164 13.4866 13.2068 13.5835 13.9716 14.7836 15.6455 8.2004 10.0285 12.0210 14.1929 16,5603 10.4359 12.5795 14.9374 17.5312 10.8594 13.1640 15.7220 18.5614 11.2997 13.7757 16.5487 19.6546 11.9159 15.4991 19.7989 24 9587 31.1504 9 10 11 12 13 14 15 11.6825 12.0412 12.4121 12.8093 13.2368 13.6803 13.9474 14.4504 14.9739 15.0969156821 16.2934 16.2579 16.9324 17.6393 12.7956 14.1404 15.5190 16.9319 18.3802 13.1920 13.6020 14.6178 15.11.30 16.0863 16.6770 17.598918 2957 19.1569 19.9710 14.0258 14.4640 14.9171 153856 15.6268 16.1599 16.7130172868 17291917.932118.5986 19.2926 19.0236 19.7841 20 5786 21.4087 20.8245217193 22.6575 23.6411 15.869916.8885 17.8821 19.1406 20.0151 21.5505 22 2760 24.1290 24.6725 26.8581 179771 19.140720.3843 20.4953 21.9534 23.5227 23.2149 25.0192 26.9750 26.1521283609 30.7725 29.3243 32.0034 34.9497 21.713223.1331 25 2116 27.0291 29.0949 31.3926 33.4054 36.2797 38.1999 41.7533 38.5805 47.4966 58.1959 71.0351 6.4421 29.840232.7502 16 17.4304 18.2014 19.0121 19.8647 17 18.6147 19.4894 20.4123 21.3863 18 19.8109 20.7967 21.8406229460 19 21.0190 22.1237 23.2974 24.5447 20 22 2392 23.4705 24.7833 26.1833 20.7616 22.4144 24.1169 25.8704 27.6765 21.7050 22.697523.7417 24.8404 23.4997 24.6454 25.8551 27.1324 25.3572266712 28.0636 29 5390 27.2797 28.7781 30.3714320660 29.2695 309692 32.7831 347193 25.9964 27.2129 28.4812 31.1027 32.7600 33.568335.7856 36.7561 38 9927 36.3790 40.4463 39.995544.7620 43 865249.4229 35.9737 40.3013 45.0185 50.1601 55.7645 39.5447 43.5008 44.5992 49.3959 50.1591 55.9395 56 2750 63 2028 63.002571.2651 47.8837 $4.7497 62.4397 71.0524 80 6987 104.9306 127.1167 153.7400 1856850 224.0256 21 23.4716 24.8376 26.2990 27.8629 29.5368 31.328933.2480 25 28.5256 30.5140 32.6709 35.0117 37.5530 40.3131 43.3117 30 35.1327 38.1018 41.379445.000349.0027 53.4295 58.3283 40 49.3752 55.0819 61.6100 69.0876 77.6633 87.509598.6265 35.3034 46.5706 63.7524 111.8467 37.5052 39.8543 50.1135 53.9660 69.7608 76.4194 126.8398 144.1189 42.3923 58.1564 83.8017 164.0477 48.0057 54.4568 67.676578.9544 101.0730 122.3459 213.5096 279.7810 61.8733 92.3240 148.5752 3682 70.4027 80.2143 91.5026 108.1818 126.9988 149.3339 180.9434 220.9132 270.2926 270.0307 566.3773 1418.2579 TABLE 6 Present Value of an Annuity Due of $1 X (1+i) wi 1 2 3 4 5 1.0% 1.00000 1.99010 2.97040 3.94099 4.90197 1.5% 1.00000 1.98522 2.95588 3.91220 4.85438 2.0% 1.00000 1.98039 2.94156 3.88388 4.80773 2.5% 3.0% 1.000001.00000 1.975611.97087 2.92742 291347 3.85602 3.82861 4.76197 4.71710 3.5% 4.0% 4,5% 5.0% 1.00000 100000 1.00000 1.00000 1.96618 1.96154 1.956941.95238 2.89969253609287267 285941 3.80164 3.775093.74896 3.72325 4.67308 4.62990 4.58753 4.54595 5.3% 6.0% 1.00000 1.00000 1.947871.94340 284632 283339 3.69793 3.67301 4.S0S154.46511 70% 1.00000 1.93458 2.80802 3.62432 4:38721 8.0% 0.0% 1.00000 1.00000 1.92593 1.91743 2.78326 2.75911 3.57710 3.53129 4.312134.23972 10.0% 11.0% 100000 100000 1.90909 1.90090 2.73554 2.71252 3.48685 3.44371 4.169874.10245 12.0% 1.00000 1.89286 2.69005 3.40183 4.03735 20.0% 1.00000 1.83333 2.52778 3.10648 3.58873 5.85343 5.78264 5.71346 5.64583 5.57971 5.51505 5.45182 7 6.79548 6.697196.60143 6.50813 6.417196.32855624214 8 7.728197.59821 7.471997.34939723028 711454 7.00205 9 8.65168 8.485938.32548 8.170148,01969 7.87396 7.73274 109.566029.360529.16224 8.970878.78611 3.607698.43533 5.38998 5.27028521236 5.100204.99271 4.88965 4.79079 4.69590 4.60478 3.99061 6.15787 6.07569 5.99553591732 5.76654 5.62288 5.48592535526 523054 5.11141 432551 6.89270 6.78637 6.68297 6.58238 6.389296.20637 6.03295 5.868425.71220 5.56376 4.60459 7.595897.46321733457 7209796-97130 6.74664 6.53482633493 6.14612 5.96764 4.83716 3.26879 8.10782 7.95220 7.801697.51523 7.246896.995256.75902 6.53705 6.32825 .03097 11 10.47130 12 11.36763 13 12.25508 14 13.13374 15 14.00370 10.22218 9.982.59 9.75206 953020 931661 11.07112 10.78685 10.51421 10.25262 10.00155 11.90751 11.57534 11.25776 10.95400 10.66333 12.73153 12.34837 11.98318 11.63496 11.30274 13.54338 13.10625 12.69091 12.29607 11.92052 9.11090891272 8.72173 8.53763 8.360098.623587.71008741766 7.14457 6.88923 6.650225 .19247 9.76048 9.528929.306419.09254 8.88687 3.498678.13896 7.80519 749506 720652 6.93770 5.32706 10.38507 10.118589.86325 9.61852 9.38384 8.942698.53608 8.160737.81369 7.49236 7.19437 5.43922 10.98565 10.68285 1039357 10.117089.85268 935765 8.90378 8.486908.10336 7.749877.42355 553268 11.56312 11.22283 10.89864 10.58965 10.29498 9.74547 924424 8.78615 8.36669 798187 7.62817 5.61057 16 14.86505 14.34323 13.84926 13.38138 12.93794 12.51741 17 15.71787 15.13126 14.57771 14.05500 13.56110 13.09412 18 16.562251590765 15.29187 14.71220 14.16612 13.65132 19 17.39827 16.67256 15.99203 15.35336 14.75351 14.18968 20 18.22601 17.42617 16.67846 15.97889 1532380 14.70984 12.11839 12.65230 13.16567 13.65930 14.13394 11.73955 11.37966 11.03758 10.71225 12 234021183777 11.46216 11.10590 12.70719 12 27407 11.86461 11.47726 13.15999 12.68959 12.24607 11.82760 13.5932913.08532 12.60765 12.15812 10.10791 9.559489.060698.60608 8.19087 7.81086 5.67547 10.44665 9.851379.31256 8.82371 8.37916 797399 5.72956 10.76322 10.12164 9.543639.02155 8.54879 8.11963 5.77463 11.05909 10.371899.75563920141 8.70162 8.24967 5.81219 1133560 10.603609 95011 9.36492 8.83929 8.36578 5.84350 21 19.04555 18.16864 17.35143 16.58916 15.87747 25 22.24339 21.03041 19.91393 18.88499 1793554 30 26.06579 24 37608 22.84438 21.45355 20.18845 40 33.16303 3036458 27.90259 25.73034 23.80822 15.21240 17.05837 19.03577 22.10250 14.59033 1624696 1798371 20.58448 14.00794 13.46221 12.95038 12.46992 15.49548 14.79864 14.15170 13.55036 17.02189 16.14107 1533310 14.59072 19 22966 18.01704 1692866 1594907 11.59401 10.81815 10.12855 12.46933 11.52876 10.70661 13.27767 12.15841 11.19828 14.26493 12.87858 11.72552 9.51356 8.96333 8.46944 5.86958 998474 934814 8.78432 593710 10 36961 9.65011 9.02181 597472 10.75696 993567 9.23303 599592 TABLE 1 Future Value of $1 FV = $1(1+)" wi 1 2 3 4 1.0% 1.01000 1.02010 1.03030 1.04060 1.5% 1.01500 1.03022 1.04568 1.06136 2.0% 1.02000 1.04040 1.06121 1.08243 1.10408 2.5% 1.02500 1.05063 1.07689 1.10381 1.13141 3.0% 3.5% 1.03000 1.03500 1.06090 1.07123 1.09273 1.10872 1.12551 1.14752 1.15927 1.18769 4.0% 4.5% 5.0% 5.5% 1.04000 104500 1.05000 1.05500 1.08160109203 110250 111303 1.12486 1.14117 1.15763 117424 1.16986 1.19252 1.21551 1.23882 1.21665 1.24618 1.27628 1.30696 6.0% 1.06000 1.12360 1.19102 1.26248 1.33823 70% 1.07000 114490 1.22504 1.31080 1.40255 8.0% 1.08000 1.16640 1.25971 1.36049 1.46933 0.0% 1.09000 1.18810 1.29503 1.41158 1.53862 10.0% 1.10000 1.21000 1.33100 1.46410 1.61051 11.0% 111000 1.23210 1.36763 1.51807 1.68506 12.0% 1.12000 1.25440 1.40493 1.57352 1.76234 20.0% 1.20000 1.44000 1.72800 2.07360 2.48832 2.98598 6 7 8 9 10 1.06152 1.09344 1.12616 1.07214 1.10984 1.14869 1.08286 1.12649 1.17166 1.09369 1.14339 1.19509 1.10462 1.16054 121899 1.15969 1.19405 1.22926 126532 1.30226 1.34010 1.37884 1.18869 1.22987 1.27228 1.31593 1.36086 1.40710 1.45468 1.21840 1.26677 1.31681 1.36857 1.42210 1.47746 1.53469 1.24886 1.30477 1.36290 1.42331 1.48610 1.55133 1.61909 1.28008 134392 1.41060 1.48024 1 55297 162889 170814 1.41852 1.50363 1.59385 1.68948 1.79085 1.50073 1.60578 1.71819 1.83846 196715 1.58687 1.67710 1.77156 1.87041 1.97382 1713821.82804 1.948722.07616 2.21068 1.850931.99256 2.14359 2.30454 2.47596 1.99900 2.171892 357952.55804 277308 215892236736259374 2839423.10585 3.58318 4.29982 5.15978 .19174 6 11 1.11567 1.17795 1.24337 1.31209138423 1.45997 153945 162285 1.71034 180209189830 2.10485 12 1.12683 1.19562 1.26824 1.344891.42576 1.51107 1.60103 1.69588 .79586 1.90121201220 225219 13 1.13809 1.21355 1.29361 1.37851 1.46853 1.56396 1.56507 1.77220 1.88565 2.00577 2.13293 2.40985 14 1.14947 1.23176 1.31948 1.41297 1.51259 1.61869 1.73168 1.85194 197993211609 2.260902.57853 15 116097 1.25023 1.34587 1.44830 1.55797 1.67535 1.80094 1.93528 2.07893 223248 239656 2.75903 233164 2.51817 2.71962 2.93719 3.17217 258043 2.81266 3.06580 3.34173 3.64248 2.85312 3.15176 3.47855 3.13843 3.49845 3.89598 3.452273.88328 4.36349 3.79750 4.31044 4.88711 4.17725 4.784595.47357 7.43008 8.91610 10.69932 12.83918 15.40702 16 117258 1.26899 137279 1.48451 160471 1.73399 1.87298 2 02237 218287 235526 254035 17 18430 1.28802 1.40024 1.52162 165285 1.79468 194790 2.11338 229202 248480269277 18 1.19615 1.30734 1.42825 1.55966 1.70243 1.85749 202582 2.20848 2.40662 262147 285434 19 120811 1.32695 1.45681 1.59865 1.75351 1.92250 210685230786 2.52695 2.76565 3.02560 20 1.22019 1.34686 1.48595 163862 1.80611 1.98979 2.19112 2.41171 265330 291776 3.20714 2.95216 3.42594 3.97031 459497 531089613039 3.15882 3.70002432763505447589509686604 3.379933.99602 4.717125.55992 6.54355 7.68997 3.61653 431570 5.14166 6.11591726334 861276 3.86968 466096 5.60441 6.72750 8.06231 9.61629 18.48843 22.18611 26.62333 31.94800 38.33760 21 1.23239 1.36706 1.51567 1.67958 1.86029 2.05943 2.27877 2.52024 2.78596 3.07823 3.39956 25 1.28243 1.45095 1.64061 1.85394 2.09378 2.36324 2.66584 3.00543 3.38635 3.81339429187 30 1.34785 1.56308 1.81136 2.09757 2.42726 2.80679 3.24340 3.74532 4.32194 4.98395 5.74349 40 1.48886 1.81402 2.20804 2.68506 3.26204 3.95926 4.80102 5.81636 7.03999 8.51331 10.28572 4.14056 5.03383 5.42743 6.84848 7.61226 10.06266 14.97446 21.72452 6.108817.40025 8.94917 10.80385 46.00512 8.62308 10.83471 13.58546 17.00006 95.39622 13.26768 17.44940 22.89230 29.95992237.37631 31.40942 45.25926 65.00087 93.05097 1469.77160 TABLE 2 Present Value of $1 $1 PV- (1+1) R 1.0% 1.5% 2.0% 2.5% 3.0% 35% 40% 45% 5.0% 5.5% 60% 70% 8.0% 9,0% 10.0% 11.0% 12.0% 20.0% 10.99010 0.98522 098039 097561 0.97087 0.96618 096154 095694 095238 094787 094340 0.93458 0.92593 0.91743 090909090090 0.89286 083333 2 098030 0.97066 096117 095181 0.94360 0.93351092456 091573 090703 089845 089000 0.87344 0.85734 0.84168 0.83645 0.81162 0.79719 0.69444 3 0.97059 0.95632 094232 092860 091514 0.90194 0.88900087630 086384 085161 0.83962 0.81630 0.79383 0.77218 0.75131 0.73119 0.71178 0.57870 4 0.96098 0.94218 0.92385 0.90595 0.88849 0.87144 0.85480 0.83856 080270 080722 0.79209 0.76290 0.73503 0.70843 0.68301 0.65873 0.63552 0.48225 5 0.95147 0.92826 0.90573 0.88385 0.86261 0.84197 0.82193 0.80245 0.78353 0.76513 0.74726 0.71299 0.68058 0.64993 0.62092 0.59345 0.56743 0.40188 6 0.94205 0.91454 0.88797 0.86230 0.83748 0.81350 0.79031 0.76790 0.74622 0.72525 0.70496 0.6664 0.63017 0.59627 0.56447 0.53464 0.50663 0.33490 7 0.93272 0.90103 0.87056 0.84127 0.81309 0.78599 0.75992 0.73483 0.71068 0.68744 0.66506 0.62275 0.58349 0.54703 0.51316 0.48166 0.45235 0.27908 8 0.92348 0.88771 0.85349 0.82075 0.78941 0.75941 0.73069 0.70319 0.67684 0.65160 0.62741 0.58201 0.54027 0.50187 0.46651 0.43393 0.40388 0.23257 9 0.91434 0.87459 0.83676 0.80073 0.76642 0.73373 0.70259 0.67290 0.64461 0.61763 0_59190 0.54393 0.50025 0.46043 0.42410 0.39092 0.36061 0.19381 10 0.90529 0.86167 0.82035 0.78120 0.74409 0.70892 0.67556 0.64393 0.61391 0.58543 0.55839 0.50835 0.46319 0.42241 038554 0.35218 0.32197 0.16151 11 0.89632 0.84893 0.80426 0.76214 0.72242 0.65495 0.64958 0.61620 0.58468 0.55491 0.52679 0.47509 0.43858 0.38753 0.35049 0.31728 0.28743 0.13459 12 088745 0.83639 0.75549 0.74356 0.70138 0.56178 062460058966055654 0.52598 0.49697044401039711035553 031863 0.28584 0.25665 0.11216 13 0.87866 0.82403 0.77303 0.72542 0.65095 0.639400.60057 056427 053032 0.49856 0.46554 0.41496 0.36770 0.32618 0.28966 0.25751 0.21917 0.09346 14 0.86996 081185 0.75788 0.70773 0.66112 0.61778 0.57745 53997 0S0S07 0.47257 0.44230 0.38782 0.34046 0.29925 0.26333 0.23199 0.20462 0.07789 15 0.86135 0.79985 0.74301 0.69047 0.64186 0.59689 0.55526 0.51672 0.48102 0.44793 0.41727 0.36245 0.31524 0.27454 0.23939 0.20900 0.18270 0.06491 16 0.85282 0.78503 0.72845 0.67362 0.62317 0.57671 0.53391 0.49447 0.45811 0.43458 239365 0.33873 0.29189 0.25187 0.21763 0.18829 0.16312 0.05409 17 0.84435 0.77639 0.71416 0.65720 0.60502 0.55720 0.51337 0.47316 0.43630 0.40245 0.37136 0.31657 0.27027 0.23107 0.19784 0.16963 0.14564 0.04507 13 033602 0.76491 0.70016064117 0.58739053336049363045250041552035147035034029556 0.25025 0.21199017986 0.15282 0.13004 0.03756 19 0.82774 0.75361 0.68543 0.62553 0.57029 0.52016 0.47454 0.43330 39573 0.36158 033051 0.27651 0.23171 0.19449 0.16351 0.13768 0.11611 0.03130 20 0.81954 0.74247 0.67297 0.61027 0.55368 0.50257 0.45639 0.41466 037689 034273031130 0.25842 0.21455 0.17343 0.14364 0.124030.10367 0.02608 21 0.81143 6.73150 0.69978 0_59539 0.53755 0.48.557 0.43883 39679035894 033456 0_29416 0_24151 0.19866 0.16370 0.13513 0.11174 0.092.56 0.02174 24 0.78757 0.69954 0.62172 0.55258 0.491930.43796 039012034770031007 0.27666024698019715 0.15770 0.12640 0.101530.08170 0.06588 0.01258 25 0.77977 0.68921 0.60953 0.53939 0.47761 0.42315 0.37512 0.33273 0.29530 0.26223 0.233000.18435 0.14602 0.11597 0.09230 0.07361 0.05882 0.01048 28 0.75684 0.65910 0.57437 0.50058 0.43708 0.38165 0.33348 0.29157 025509 0.22332 0.19563 0.15040 0.11591 0.08955 0.06934 0.05382 0.04187 0.00607 29074934 0.64936 056311048866 0.4243536375 03206502790214295 021168 15456 014056 0.10733 008215 0.06304 0.04849 0.03738 0.00506 30 0.74192 0.63976 0.55207 0.47674 0.41199 0.35628 31 0.73458 0.63031 0.54125 0.46511 0.39999 0.34423 40 0.67165 0.55126 0.45289 037243 0.30656 0.25257 0.30832 0.36700 0.29546 0.25550 0.20829 0.17193 0.23138 0.22036 0.14205 0.20064 0.17411 0.19018 0.16425 0.11746 0.09722 0.13137 0.09938 0.07537 0.12277 0.09202 0.06915 0.06675 0.04603 0.03184 0.05731 0.04368 0.03338 0.05210 0.03935 0.02980 0.02209 0.01538 0.01075 0.00421 0.00351 0.00068 TABLE 3 Future Value of an Ordinary Annuity of $1 FVA - (1+1 -1 wi 1 2 3 4 1.0% 1.0000 2.0100 3.0301 4.0604 2.5% 10000 2.0150 3.0452 4.0909 2.0% 1.000 2.0200 3.0604 4.1216 2.5% 1.000 2.0250 3.0756 4.1525 3.0% 1.000 2.0300 3.0909 4.1836 35% 4.0% 4,5% 1.000 1.0000 1.000 2.0350 2.04002.0450 3.10623.1216 3.1370 4.21494.2465 4.2782 5.0% 55% 1.0000 10000 20500 20550 3.1525 3.1680 4.31014 3423 6.0% 10000 20600 3.1836 .3746 70% 10000 2.0700 3.2149 4.4399 8.0% 10000 2.0800 3.2464 4.5061 9.0% 1.000 2.0900 3.2781 4.5731 10.0% 1.000 2.1000 3.3100 4.6410 11.0% 1.000 2.1100 3.3421 4.7097 12.0% 1.000 2.1200 3.3744 4.7793 20.0% 1.0000 2.2000 3.6400 5.3680 4 5.4707 5.5256 5.58115.6371 5.7507 5.8666 5.9847 6.1051 6.2278 6.3528 7.4416 7 8 9 10 6.1520 7.2135 8.2857 9.3685 10.4622 6.2296 73230 8.4328 9.5593 10.7027 6.3081 6.3877 7.4343 75474 8.5830 8.7361 9.7546 99545 10.9497 11.2034 6.4684 6.5502 6.6330 6.7169 6.80196.8881 69753 7662577794 78983 8.01928.1420 8.266983938 8.89239.0517921429.3800 9.549197216 9.8975 10.1591 10.3685 10.5828 10.8021 11.0266 11.2563 114913 11.4639 11.7314 12.0061 12.2882 12.5779128754 13.1808 7.15337.33597.52337.7156 79129 8.6540 89228 9.2004 9.4872 9.7833 10 2598 10.6366 11.028511.435911.8594 11 9780 12.4876 13.0210 13.5795 14.1640 13.8164 14.4866 15.1929 159374 16.7220 8.11529.9299 10.0890 12.9159 12.2997 16.4991 14.7757 20.7989 17.5487 259587 11 12 13 14 15 11.5668 12.6825 13.8093 14.9474 16.0969 11.8633 12.1687 13.0412 13.4121 14.2368 14.6803 15.4504 15.9739 16.6821 17.2934 12.4835 13.7956 15.1404 16.5190 17.9319 12.8078 14.1920 156178 17.0863 18.5989 13.1420 14.6020 16.1130 17.6770 19.2957 13.4864 13.8412 15.0258 15.4640 16.6268 17.1599 18 291918.9321 20.0236 20.7841 14.2068 15.9171 17.7130 19.5986 21.5786 14.5835 16.3856 18 2868 20 2926 22.4087 14.9716 15.7836 16.8699 17.8855 18882120.1406 21 0151 22.5505 23.2760 25.1290 16.6455 17.5603 18.5312 18.977120.1407 21.3543 21.4953 22.9534 24.5227 24.2149 26.0192 279750 27.1521 29.360931.7725 19.5614 22.7132 26.2116 30.0949 34.4054 20.6546 24.1331 28.0291 32 3926 37.2797 32.1504 39.5805 48.4966 59.1959 7 2.0351 179324 18.6393 19.3802 20.1569 20.9710 21.8245 17 18.4304 19.2014 20.0121 20.8647 21.7616 22.7050 23.6975 18 19.6147 20.4894 21.4123 22.3863 23.414424.4997 25.6454 19 20.8109 21.7967 22.8406 23.9460 25.1169 26.3572 27.6712 20 22.0190 23.1237 24.2974 25.5447 26.8704 28.2797 29.7781 22.7193 24.7417 26.8551 29.0636 31.3714 23.6575 25.8404 28.1324 30.5390 33.0660 24.6411 25.6725 26.9964 28.2129 29.4812 30.9057 32.1027 33.7600 34.8683367856 27.8881 30 8402 33.9990 37.3790 40.9955 30.334333.0034 33.7502 36.9737 37.450241.3013 41.4463 46.0185 45.7620 51.1601 35.9497 39.1899 42.7533 40.5447 44.5008 48.8837 45.599250.395955.7497 51.1591 56.9395 63.4397 57.2750 64.2028 72.0524 8 7.4421 105.9306 128.1167 154.7400 186.6880 21 30 40 23.2392 24.4705 25.7833 27.1833 28.676530.2695 31.9692 33.7831 35.7193 37.7861 39.9927 44.8652 50.4229 56.7645 64.0025 72.2651 $1.6987 225.0256 34.784937 5387 40.5681 43.9027 47 5754 51.6227 56 084961.0071 66.4388 72.4355 79.058294.4608 113 2832 136 3075 164.4940 199.02092413327 1181.8816 48.8864 54.2679 60.4020 67.4026 75.4013 84.5503 95.0255 107.0303 120.7998 136.6056 154.7620 199.6351 259.0565337.8824 442.5926 581.8261 767.0914 7343.8578 TABLE 4 Present Value of an Ordinary Annuity of $1 1 - 12 PVA =- 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 20.0% 1 2 3 4 0.99010 0.98522 197040 1.95583 2940992.91220 3.90197 3.85438 4.85343 4.78264 0.98039 0.975610.97087 1.94156 1.92742 1.91347 2.88358 2.85602 2.82861 3.807733.76197 3.71710 4.71346 4.64583 4.57971 0.96618 0.96154 0.956940.95238 0.94787 0.94340 0.934580.92593 0.91743 0.90909090090 0.89286 0.83333 89969155609157267 185941 134632 1833391 80802 1.78326 175911 1.73554 1.71252 1.69005 1.52778 2.80164 2.77509 2.74896 2.72325269793267301262432 2577102.53129 2.48685 2.44371 2.40183 2.10648 3.67308 3.62990 3.58753 3.54595 3.50515 3.46511 338721 3.31213 3.23972 3.16987 3.10245 3.03735 2.58873 4.51505 4.45182 4.38998 4.32948 4.27028 421236 4.10020 3.99271 3.88965 3.79079 3.69590 3.60478 2.99061 5 6 5.79548 5.69719 5.60143 5.508135.41719 5.328555.34214 5.15787 5.07569 4.99553491732 4.76654 4.62288 4.48.592 4.35526 4.23054 4.11141 3.32551 7 8 9 10 6.72819 7.65168 8.56602 9.47130 6.59821 6.47199 7.485937.32548 8.36052 8.16224 9.22218 8.98259 6.349396.23028 6.11454 6.00205 5.892705.786375.68297 5.58238 5.389295.20637 7.170147.01969 6.87396 6.73274 6.595896.46321 633457620979597130 5.74664 7.970877.786117.607697.435337.26879710782 695220680169 6.515236.24689 8.75206 8.53020831661 8.11090 791272 772173 753763 736009702358 6.71008 5.03295 5.53482 5.99525 6,41766 4.86842 4.71220 4.56376 5.33493 5.14612 4.96764 5.75902 5.53705 5.32825 6.14457 588923 565022 3.60459 3.83716 4.03097 4.19247 11 10.36763 12 11.25508 13 12.13374 14 13.00370 15 13.86505 10.07112 9.78685 9.51421 10.90751 10.57534 10.25776 11.73153 11.34837 10.98319 12.54338 12.10625 11.69091 13.34323 12.84926 12.38138 9.252629.00155 8.76048 9.95400 9.66333 938507 10.63496 10.30274 9.98565 11.29607 10.92052 10.56312 11.93794 11.51741 11.11839 8.52892 8.30641 9.11858 8.86325 9.68285 9.39357 10.22283 9.89864 10.7395510.37966 .69254 788687 7.49 8.61852838384 794269753608 9.11708 8.85268 8.35765 790378 9.589659.294988.74547 8.24424 10.03758 9.71225 9.10791 8.55948 7.16073 6.81369 7.486907.10336 7.78615 7.36669 8.06069 7.60608 6.49236 6.74987 6.98187 7.19087 6.19437 6.42355 6.62817 6.81086 4.43922 4.53268 4.61057 4.67547 16 14.71787 17 15.56225 18 1639827 19 1722601 2018.04555 14.13126 13.57771 13.05500 12.56110 14.90765 14.29187 13.7122013.16612 15.67256 14.99203 14.35336 13.75351 16.42617 15.67846 14.97589 14.32380 17.16864 16.35143 15.58916 14.87747 12.09412 12.65132 13.18968 13.70984 1421240 11.65230 12.16567 12.65930 13.13394 13.59033 11.23402 10.83777 11.70719 11 27407 12.159991168959 12.59329 12.08532 13.00794 12.46221 10.46216 10.86461 11.24607 11.60765 11.95038 10.105909.446658.85137 8.31256 7.82371 7.37916 6.97399 4.72956 10.47726 9.76322 9.12164 8.54363 8.02155 7.54879 7.11963 4.77463 1082760 10.059099.371893.75563 8.20141 7.701627.24967 4.81219 11.158121033560 9.60360 895011 8.36492783929 736578 4.84350 11.46992 10.59401 9.81815 9.12855 8.51356 796333 746944 4.86958 21 25 30 18.85698 17.90014 17.01121 22.02316 20.71961 19.52346 25.80771 24.01584 22.39646 16.18455 18.42438 20.93029 15.41502 17.41315 19.60044 14.69797 14.02916 16.48151 15.62208 18.39205 17 29203 13.40472 12.82115 14.82821 14.09394 16.288891537245 12.27524 11.76408 13.41393 12.78336 14.53375 13.76483 10.83553 11.65358 12.40904 10.01680 10.67478 11.25778 9.29224 8.64869 3.07507 9.82258 9.07704 3.42174 10.273659.42691 8.69379 7.56200 7.84314 8.05518 4.89132 4.94759 4.97894 91585 27.35548 25.10278 23.11477 21 35507 19.79277 18.40158 17.15909 16.04612 15.04630 13.33171 11.92461 10.75736 9.77905 8.951 TABLE 5 Future Value of an Annuity Due of $1 (1 + 0 - 1 FVAD X (1+i) 1.0961.592.096 2.59 3.096 3.59 4.04455.0 6 .095 704 0 904610.04 1109612096 20.09% 1 2 3 4 5 1.0100 2.0301 3.0604 4.1010 5.1520 1.0150 1.0200 1.0250 1.0300 1.0350 1.0400 20452 2.060420756 2.0909 2.1062 2.1216 3.09093.1216 3.1525 3.1836 3.21493.2465 4.1523 4.2040 4.2563430914.3625 4.4163 52296 53081 53877 5.4684 5.5502 56330 1.0450 2.1370 3.2782 1.2000 2.6400 1.0500 21525 3.3101 10SSO 2.1680 3.3423 1.0600 1.0700 2.1836 22149 3.3746 3.4399 4.6371 4.7507 5975361533 1.0800 1.0900 1.1000 2.24642.2781 23100 3.5061 3.5731 3.6410 4.8666 498475 1051 633596.5233 67156 11100 1.1200 2.3421 2.3744 3.7097 3.7793 52278 691297.1152 4.3680 64416 58881 89299 6 7 8 6.21356.3230 7.2857 74328 8.3685 8.5593 9.4622 9.7027 10.5668 10.8633 6.4343 7.5830 8.7546 9.9497 11.1687 6.5474 7.7361 8.9545 10.2034 11.4835 6.6625 6.7794 7.89238.0517 9.15919.3685 10.4639 10.7314 11.807812.1420 6.8983 8.2142 9.5828 11.0061 12.4864 8.3800 9.8021 11.2882 12.8412 7.1420 726697.39387.6540 79228 8.54918.7216 8.8975 9.25989 .6366 10.0266 10.2563 10.4913 10.9780 11.4876 11.5779118754 12.1808 12.8164 13.4866 13.2068 13.5835 13.9716 14.7836 15.6455 8.2004 10.0285 12.0210 14.1929 16,5603 10.4359 12.5795 14.9374 17.5312 10.8594 13.1640 15.7220 18.5614 11.2997 13.7757 16.5487 19.6546 11.9159 15.4991 19.7989 24 9587 31.1504 9 10 11 12 13 14 15 11.6825 12.0412 12.4121 12.8093 13.2368 13.6803 13.9474 14.4504 14.9739 15.0969156821 16.2934 16.2579 16.9324 17.6393 12.7956 14.1404 15.5190 16.9319 18.3802 13.1920 13.6020 14.6178 15.11.30 16.0863 16.6770 17.598918 2957 19.1569 19.9710 14.0258 14.4640 14.9171 153856 15.6268 16.1599 16.7130172868 17291917.932118.5986 19.2926 19.0236 19.7841 20 5786 21.4087 20.8245217193 22.6575 23.6411 15.869916.8885 17.8821 19.1406 20.0151 21.5505 22 2760 24.1290 24.6725 26.8581 179771 19.140720.3843 20.4953 21.9534 23.5227 23.2149 25.0192 26.9750 26.1521283609 30.7725 29.3243 32.0034 34.9497 21.713223.1331 25 2116 27.0291 29.0949 31.3926 33.4054 36.2797 38.1999 41.7533 38.5805 47.4966 58.1959 71.0351 6.4421 29.840232.7502 16 17.4304 18.2014 19.0121 19.8647 17 18.6147 19.4894 20.4123 21.3863 18 19.8109 20.7967 21.8406229460 19 21.0190 22.1237 23.2974 24.5447 20 22 2392 23.4705 24.7833 26.1833 20.7616 22.4144 24.1169 25.8704 27.6765 21.7050 22.697523.7417 24.8404 23.4997 24.6454 25.8551 27.1324 25.3572266712 28.0636 29 5390 27.2797 28.7781 30.3714320660 29.2695 309692 32.7831 347193 25.9964 27.2129 28.4812 31.1027 32.7600 33.568335.7856 36.7561 38 9927 36.3790 40.4463 39.995544.7620 43 865249.4229 35.9737 40.3013 45.0185 50.1601 55.7645 39.5447 43.5008 44.5992 49.3959 50.1591 55.9395 56 2750 63 2028 63.002571.2651 47.8837 $4.7497 62.4397 71.0524 80 6987 104.9306 127.1167 153.7400 1856850 224.0256 21 23.4716 24.8376 26.2990 27.8629 29.5368 31.328933.2480 25 28.5256 30.5140 32.6709 35.0117 37.5530 40.3131 43.3117 30 35.1327 38.1018 41.379445.000349.0027 53.4295 58.3283 40 49.3752 55.0819 61.6100 69.0876 77.6633 87.509598.6265 35.3034 46.5706 63.7524 111.8467 37.5052 39.8543 50.1135 53.9660 69.7608 76.4194 126.8398 144.1189 42.3923 58.1564 83.8017 164.0477 48.0057 54.4568 67.676578.9544 101.0730 122.3459 213.5096 279.7810 61.8733 92.3240 148.5752 3682 70.4027 80.2143 91.5026 108.1818 126.9988 149.3339 180.9434 220.9132 270.2926 270.0307 566.3773 1418.2579 TABLE 6 Present Value of an Annuity Due of $1 X (1+i) wi 1 2 3 4 5 1.0% 1.00000 1.99010 2.97040 3.94099 4.90197 1.5% 1.00000 1.98522 2.95588 3.91220 4.85438 2.0% 1.00000 1.98039 2.94156 3.88388 4.80773 2.5% 3.0% 1.000001.00000 1.975611.97087 2.92742 291347 3.85602 3.82861 4.76197 4.71710 3.5% 4.0% 4,5% 5.0% 1.00000 100000 1.00000 1.00000 1.96618 1.96154 1.956941.95238 2.89969253609287267 285941 3.80164 3.775093.74896 3.72325 4.67308 4.62990 4.58753 4.54595 5.3% 6.0% 1.00000 1.00000 1.947871.94340 284632 283339 3.69793 3.67301 4.S0S154.46511 70% 1.00000 1.93458 2.80802 3.62432 4:38721 8.0% 0.0% 1.00000 1.00000 1.92593 1.91743 2.78326 2.75911 3.57710 3.53129 4.312134.23972 10.0% 11.0% 100000 100000 1.90909 1.90090 2.73554 2.71252 3.48685 3.44371 4.169874.10245 12.0% 1.00000 1.89286 2.69005 3.40183 4.03735 20.0% 1.00000 1.83333 2.52778 3.10648 3.58873 5.85343 5.78264 5.71346 5.64583 5.57971 5.51505 5.45182 7 6.79548 6.697196.60143 6.50813 6.417196.32855624214 8 7.728197.59821 7.471997.34939723028 711454 7.00205 9 8.65168 8.485938.32548 8.170148,01969 7.87396 7.73274 109.566029.360529.16224 8.970878.78611 3.607698.43533 5.38998 5.27028521236 5.100204.99271 4.88965 4.79079 4.69590 4.60478 3.99061 6.15787 6.07569 5.99553591732 5.76654 5.62288 5.48592535526 523054 5.11141 432551 6.89270 6.78637 6.68297 6.58238 6.389296.20637 6.03295 5.868425.71220 5.56376 4.60459 7.595897.46321733457 7209796-97130 6.74664 6.53482633493 6.14612 5.96764 4.83716 3.26879 8.10782 7.95220 7.801697.51523 7.246896.995256.75902 6.53705 6.32825 .03097 11 10.47130 12 11.36763 13 12.25508 14 13.13374 15 14.00370 10.22218 9.982.59 9.75206 953020 931661 11.07112 10.78685 10.51421 10.25262 10.00155 11.90751 11.57534 11.25776 10.95400 10.66333 12.73153 12.34837 11.98318 11.63496 11.30274 13.54338 13.10625 12.69091 12.29607 11.92052 9.11090891272 8.72173 8.53763 8.360098.623587.71008741766 7.14457 6.88923 6.650225 .19247 9.76048 9.528929.306419.09254 8.88687 3.498678.13896 7.80519 749506 720652 6.93770 5.32706 10.38507 10.118589.86325 9.61852 9.38384 8.942698.53608 8.160737.81369 7.49236 7.19437 5.43922 10.98565 10.68285 1039357 10.117089.85268 935765 8.90378 8.486908.10336 7.749877.42355 553268 11.56312 11.22283 10.89864 10.58965 10.29498 9.74547 924424 8.78615 8.36669 798187 7.62817 5.61057 16 14.86505 14.34323 13.84926 13.38138 12.93794 12.51741 17 15.71787 15.13126 14.57771 14.05500 13.56110 13.09412 18 16.562251590765 15.29187 14.71220 14.16612 13.65132 19 17.39827 16.67256 15.99203 15.35336 14.75351 14.18968 20 18.22601 17.42617 16.67846 15.97889 1532380 14.70984 12.11839 12.65230 13.16567 13.65930 14.13394 11.73955 11.37966 11.03758 10.71225 12 234021183777 11.46216 11.10590 12.70719 12 27407 11.86461 11.47726 13.15999 12.68959 12.24607 11.82760 13.5932913.08532 12.60765 12.15812 10.10791 9.559489.060698.60608 8.19087 7.81086 5.67547 10.44665 9.851379.31256 8.82371 8.37916 797399 5.72956 10.76322 10.12164 9.543639.02155 8.54879 8.11963 5.77463 11.05909 10.371899.75563920141 8.70162 8.24967 5.81219 1133560 10.603609 95011 9.36492 8.83929 8.36578 5.84350 21 19.04555 18.16864 17.35143 16.58916 15.87747 25 22.24339 21.03041 19.91393 18.88499 1793554 30 26.06579 24 37608 22.84438 21.45355 20.18845 40 33.16303 3036458 27.90259 25.73034 23.80822 15.21240 17.05837 19.03577 22.10250 14.59033 1624696 1798371 20.58448 14.00794 13.46221 12.95038 12.46992 15.49548 14.79864 14.15170 13.55036 17.02189 16.14107 1533310 14.59072 19 22966 18.01704 1692866 1594907 11.59401 10.81815 10.12855 12.46933 11.52876 10.70661 13.27767 12.15841 11.19828 14.26493 12.87858 11.72552 9.51356 8.96333 8.46944 5.86958 998474 934814 8.78432 593710 10 36961 9.65011 9.02181 597472 10.75696 993567 9.23303 599592