After paying off a car loan or credit card, don’t remove this amount from your budget. Instead, invest in your future by applying some of it to your retirement account. How much would $450 invested at the end of each quarter be worth in 10 years at 4% interest? (Please use the following provided Table.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
After paying off a car loan or credit card, don’t remove this amount from your budget. Instead, invest in your future by applying some of it to your retirement account. How much would $450 invested at the end of each quarter be worth in 10 years at 4% interest? (Please use the following provided Table.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
After paying off a car loan or credit card, don’t remove this amount from your budget. Instead, invest in your future by applying some of it to your retirement account. How much would $450 invested at the end of each quarter be worth in 10 years at 4% interest? (Please use the following provided Table.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
Transcribed Image Text:62 3050
Future value interest factor of an ordinary annuity of $1 per period at i% for n periods, FVIFA(i,n).
Period
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
9.0%
9.5%
10.0%
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
2.0850
1.0000
1.0000
1.0000
2
2.0050
2.0100
2.0150
2.0200
2.0250
2.0300
2.0350
2.0400
2.0450
2.0500
2.0550
2.0600
2.0650
2.0700
2.0750
2.0800
2.0900
2.0950
2.1000
3.0150
3.0452
3.2306
4.4729
3.0301
3.0604
3.0756
3.0909
3.1062
3.1216
3.1370
3.1525
3.3100
3.1680
3.1836
3.1992
3.2149
3.2464
3.2622
3.2781
3.2940
4.0301
4.0604
4.0909
4.1216
4.1525
4.2465
43423
4.4072
4.4399
4.5061
11595
4.1836
4.2149
4.2782
4.3101
4.3746
4
4.2746
4.5395
4.5731
4.6070
4.6410
5.0503
5.1010
5.1523
5.2040
5.2563
5.3091
5.3625
5.4163
5.4707
5.5256
5.5811
5.6371
5.6936
5.7507
5.8084
5.8666
5.9254
5.9847
6.0446
6.1051
6.
6.0755
6.1520
6.2296
とフィc0
6.7169
6.3081
6.3877
6.4684
6.5502
6.6330
6.8019
6.8881
6.9753
7.0637
7.1533
7.2440
7.3359
7.4290
7.5233
7.6189
7.7156
7.1059
7.2135
7.3230
7.4343
7.5474
7.6625
7.7794
7.8983
8.0192
8.1420
8.2669
8.3938
8.5229
8.6540
8.7873
8.9228
9.0605
9.2004
9.3426
9.4872
8
8.1414
8.2857
8.4328
8.5830
8.7361
8.8923
9.0517
9.2142
9.3800
9.5491
9.7216
9.8975
10.0769
10.2598
10.4464
10.6366
10.8306
11.0285
11.2302
11.4359
9
9.1821
9.3685
9.5593
9.7546
9.9545
10.1591
10.3685
10.5828
10.8021
11.0266
11.2563
11.4913
11.7319
11.9780
12.2298
12.4876
12.7512
13.0210
13.2971
13.5795
プライ
11.7314
イフィ
14.1471
に
14.8351
10.2280 10.4622 10.7027 10.9497 11.2034
11.2792 11.5668 11.8633 12.1687 12.4835
12.3356 12.6825 13.0412 13.4121 13.7956
10
11.4639
12.0061
12.2882
12.5779
12.8754
13.1808
13.4944
13.8164
14.4866
15.1929
15.5603
15.9374
11
12.8078
13.1420
13.4864 13.8412
14.2068
14.5835
14.9716
15.3716
15.7836
16.2081
16.6455
17.0961
17.5603
18.0385
18.5312
12
14.1920
14.6020
15.0258
15.4640
15.9171
16.3856
16.8699
17.3707
17.8885
18.4237
18.9771
19.5492
20.1407
20.7522
21.3843
0 に
13.3972 13.8093 14.2368 14.6803 15.1404
し
14
21.4953
24.2149
13
15.6178
16.1130
16.6268
17.1599
17.7130
18.2868
18.8821
19.4998
20.1406
20.8055
22.2109
22.9534
23.7236
24.5227
14.4642 14.9474 15.4504 15.9739 16.5190
15.5365 16.0969 16.6821 17.2934 17.9319
16.6142 17.2579 17.9324 18.6393 19.3802
17.6973 18.4304 19.2014 20.0121 20.8647
18.7858 19.6147 20.4894 21.4123 22.3863
19.8797 20.8109 21.7967 22.8406 23.9460
20.9791 22.0190 23.1237 24.2974 25.5447
22.0840 |23.2392 24.4705 25.7833 27.1833
22
22.5505
26.0192
29.3609
17.0863
17.6770
18.2919
18.9321
19.5986
20.2926
21.0151
21.7673
23.3659
25.0989
26.9774
27.9750
15
18.5989
19.2957
20.0236
20.7841
21.5786
22.4087
23.2760
24.1822
25.1290
26.1184
27.1521
20.2042
28.2323
30.5402
31.7725
22.7193
24.7417
25.6454 26.8551
26.7540
29.4930
16
23.6575 24.6411
31.6320
34.4416
38.7135
20.1569
20.9710
21.8245
25.6725
27.8881
29.0772
30.3243
33.0034
35.9497
17
21.7616
22.7050
23.6975
25.8404
26.9964
28.2129
30.8402
32.2580
33.7502
35.3207
36.9737
40.5447
18
23.4144
24.4997
28.1324
29.4812
30.9057
32.4101
33.9990
35.6774
37.4502
39.3230
41.3013
43.3913
45.5992
19
25.1169
26.3572
27.6712
29.0636
30.5390
32.1027
33.7600
35.5167
37.3790
39.3532
41.4463
43.6654
46.0185
48.5135
51.1591
20
26.8704
28.2797
29.7781
31.3714
33.0660
34.8683
36.7856
38.8253
40.9955
43.3047
45.7620
48.3770
51.1601
54.1222
57.2750
T297年1
ィ 00 00。
21
28.6765
30.2695
31.9692
33.7831
35.7193
37.7861
39.9927
42.3490
44.8652
47.5525
50.4229
53.4891
56.7645
60.2638
64.0025
23.1944 24.4716 |25.8376 27.2990 28.8629
24.3104 25.7163 27.2251 28.8450 30.5844
25.4320 26.9735 28.6335 30.4219 32.3490
26.5591 28.2432 30.0630 32.0303 34.1578
27.6919 29.5256 31.5140 33.6709 36.0117
28.8304 30.8209 32.9867 35.3443 37.9120
29.9745 32.1291 34.4815 37.0512 39.8598
31.1244 33.4504 35.9987 38.7922 41.8563
32.2800 34.7849 37.5387 40.5681 43.9027
33.4414 36.1327 39.1018 42.3794 46.0003
34.6086 37.4941 40.6883 44.2270 48.1503
35.7817 38.8690 42.2986 46.1116 50.3540
36.9606 40.2577 43.9331 48.0338 52.6129
38.1454 41.6603 45.5921 49.9945 54.9282
39.3361 43.0769 47.2760 51.9944 57.3014
40.5328 44.5076 48.9851 54.0343 59.7339
41.7354 45.9527 50.7199 56.1149 62.2273
42.9441 47.4123 52.4807 58.2372 64.7830
44.1588 48.8864 54.2679 60.4020 67.4026
45.3796 50.3752 56.0819 62.6100 70.0876
46.6065 51.8790 57.9231 64.8622 72.8398
47.8396 53.3978 59.7920 67.1595 75.6608
49.0788 54.9318 61.6889 69.5027 78.5523
50.3242 56.4811 63.6142 71.8927 81.5161
51.5758 58.0459 65.5684 74.3306 84.5540
52.8337 59.6263 67.5519 76.8172 87.6679 100.3965 115.3510 132.9454 153.6726 178.1194 206.9842 241.0986 281.4525 329.2244 385.8171 452.9002 532.4606 626.8628 738.9191
54.0978 61.2226 69.5652 79.3535 90.8596 104.4084 120.3883 139.2632 161.5879 188.0254 219.3684 256.5645 300.7469 353.2701 415.7533 490.1322 578.7198 684.2804 810.1164
55.3683 62.8348 71.6087 81.9406 94.1311 108.5406 125.6018 145.8337 169.8594 198.4267 232.4336 272.9584 321.2955 378.9990 447.9348 530.3427 628.9110746.8656 888.0775 1,057.1896
56.6452 64.4632 73.6828 84.5794 97.4843 112.7969 130.9979 152.6671 178.5030 209.3480 246.2175 290.3359 343.1797 406.5289 482.5299 573.7702 683.3684815.0836 973.4448 1,163.9085
30.5368
32.3289
34.2480
36.3034
38.5052
40.8643
43.3923
46.1016
49.0057
52.1190
55.4568
59.0356
62.8733
66.9889
71.4027
36.6179
39.0826 41.6892
23
32.4529
34.4604
38.9370
41.4305
44.1118
46.9958
50.0982
53.4361
57.0279
60.8933
65.0537
69.5319
74.3529
79.5430
54.3546
58.8877
24
34.4265
36.6665
44.5020
47.5380
50.8156
58.1767
62.3050
66.7648
71.5832
76.7898
82.4164
88.4973
25
36.4593
38.9499
41.6459
44.5652
47.7271
51.1526
54.8645
63.2490
67.9779
73.1059
78.6678
84.7009
91.2459
112121
41.3131
98.3471
100 1919
93.3240 100.9143
94.6947 102.7231 111.5012
26
38.5530
44.3117
47.5706
51.1135
54.9660
59.1564
63.7154
68.6765
74.0762
79.9544
86.3546
109.1818
27
40.7096
43.7591
47.0842
50,7113
54.6691
58.9891
63.7058
68.8569
74.4838
80.6319
87.3508
121.0999
95.3388 103.7437 112.9682 123.0938
12.3002123.0938
95.2553 103.9659 113.5620 124.1354 135.7877
28
42.9309
46.2906
49.9676
53.9933
58.4026
63.2335
68.5281
74.3326
80.6977
87.6793
134.2099
29
45.2189
48.9108
52.9663
57.4230
62.3227
67.7114
73.6398
80.1642
87.3465
148.6309
94.4608 103.3994 113.2832 124.2147 136.3075 149.6875
92.9892 102.0730 112.1544 123.3459 135.7730 149.5752 164.9078
90.8898 | 100.0335 110.2182 121.5659 134.2135 148.3137 164.0370 181.5741
30
47.5754
51.6227
56.0849
61.0071
66.4388
72.4355
79.0582
86.3749
164.4940
31
50.0027
54.4295
59.3283
64.7524
70.7608
77.4194
84.8017
181.9434
32
52.5028
57,3345
62.7015
68.6662
75.2988
82.6775
201.1378
L し
97.3432 107.5357 118.9334 131.6834 145.9506 161.9203 179.8003 199.8236
|903 0.30 1000年|3900|1920S|3.000398.0230
94.0771 104.1838 115.5255 128.2588 142.5596 158.6267 176.6836 196.9823 219.8068
33
55.0778
60.3412
66.2095
72.7562
80.0638
88.2248
222.2515
34
57.7302
63.4532
69.8579
77.0303
85.0670
245.4767
90.3203 100.2514 111.4348 124.0347 138.2369 154.2516 172.3168 192.7017 215.7108 241.6885
95.8363 106.7652 119.1209 133.0969 148.9135 166.8205 187.1021 210.0813 236.1247 265.6489
91.0413 101.6281 113.6373 127.2681 142.7482 160.3374 180.3320 203.0703 228.9382 258.3759 291.8855
96.1382 107.7095 120.8873 135.9042 153.0269 172.5610 194.8569 220.3159 249.3980 282.6298 320.6147
90.4091 101.4644 114.0950 128.5361 145.0585 163.9736 185.6403 210.4712 238.9412 271.5968 309.0665 352.0731
95.0255 107.0303 120.7998 136.6056 154.7620 175.6319 199.6351 227.2565 259.0565 295.6825 337.8824 386.5200
99.8265 112.8467 127.8398 145.1189 165.0477 188.0480 |214.6096 245.3008 280.7810 321.8156 369.2919 424.2394
92.6074 104.8196 118.9248 135.2318 154.1005 175.9505 201.2711 230.6322 264.6983 304.2435 350.1699 403.5281 465.5421
35
60.4621
66.6740
73.6522
81.4966
271.0244
36
63.2759
70.0076
77.5983
86.1640
299.1268
37
66.1742
73.4579
81.7022
330.0395
38
69.1594
77.0289
85.9703
364.0434
39
72.2342
80.7249
401.4478
40
75.4013
84.5503
442.5926
41
78.6633
88.5095
487.8518
42
82.0232
537.6370
96.8486 110.0124 125.2764 142.9933 163.5760 187.5076 215.3537 247.7765 285.5507 329.5830 380.9343 440.8457 510.7686
し し L L 0 09
89.0484 101.2383 115.4129 131.9138 151.1430 173.5727 199.7580 230.3517 266.1209 307.9670 356.9496 414.3137 481.5218 560.2917
43
85.4839
592.4007
44
652.6408
92.7199 105.7817 121.0294 138.8500 159.7002 184.1192 212.7435 246.3246 285.7493 332.0645 386.5056 450.5304 525.8587 614.5194
96.5015 110.4840 126.8706 146.0982 168.6852 195.2457 226.5081 263.3357 306.7518 357.9694 418.4261 489.8255 574.1860 673.8987
45
718.9048
791.7953
871.9749
46
47
48
960.1723
49
50
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