Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "Rate used" to the nearest tenth percent. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.) On PV Table 12.3 PV of amount desired at Amount Period Length of time Compounded Rate used PV factor used desired at Rate used end of period end of period 24 10,500 3 years 6 % Monthly
Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "Rate used" to the nearest tenth percent. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.) On PV Table 12.3 PV of amount desired at Amount Period Length of time Compounded Rate used PV factor used desired at Rate used end of period end of period 24 10,500 3 years 6 % Monthly
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Transcribed Image Text:Complete the following using present value. (Use the Table provided.) (Do not round intermediate calculations. Round the "Rate
used" to the nearest tenth percent. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.)
On PV Table 12.3
PV of amount
Amount
Period
Length
of time
desired at
Rate
Compounded
Rate used
PV factor used
desired at
used
end of period
end of period
24
10,500
3 years
6 %
Monthly
ePrev.
5 of 18
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Transcribed Image Text:edia.mheducation.com/Media/Connect_Production/bne/Slater_13e/Presentvalue_decimal.jpg
Present value interest factor of $1 per period at i% for n periods, PVIF(i,n).
Period
0.5%
1.0%
2.5%
0.9756
1.5%
2.0%
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%
0.9950
0.9901
0.9852
0.9804
0.9709
0.9662
0.9615
0.9569
0.9524
0.9479
0.8985
0.8516
0.9434
0.9390
0.9346
0.9302
0.9259
0.9217
0.9174
0.9132
0.9091
0.9901
0.9803
0.9707
0.9612
0.9518
0.9426
0.9246
0.8890
0.9335
0.9157
0.9070
0.8900
0.8817
0.8734
0.8653
0.8573
0.8495
0.8417
0.8340
0.8264
0.9851
0.9706
0.9563
0.9423
0.9286
0.9151
0.9019
0.8763
0.8638
0.8396
0.8278
0.8163
0.8050
0.7938
0.7829
0.7722
0.7617
0.7513
0.9802
0.9610
0.9422
0.9238
0.9060
0.8885
0.8714
0.8548
0.8386
0.8227
0.8072
0.7921
0.7773
0.7629
0.7488
0.7350
0.7216
0.7084
0.6956
0.6830
0.9754
0.9515
0.9283
0.9057
0.8839
0.8626
0.8420
0.8219
0.8025
0.7835
0.7651
0.7473
0.7299
0.7130
0.6966
0.6806
0.6650
0.6499
0.6352
0.6209
0.9705
0.9420
0.9145
0.8880
0.8623
0.8375
0.8135
0.7903
0.7679
0.7462
0.7252
0.7050
0.6853
0.6663
0.6480
0.6302
0.6129
0.5963
0.5801
0.5645
0.9657
0.9327
0.9010
0.8706
0.8413
0.8131
0.7860
0.7599
0.7348
0.7107
0.6874
0.6651
0.6435
0.6227
0.6028
0.5835
0.5649
0.5470
0.5298
0.5132
8.
0.9609
0.9235
0.8877
0.8535
0.8207
0.7894
0.7594
0.7307
0.7032
0.6768
0.6516
0.6274
0.6042
0.5820
0.5607
0.5403
0.5207
0.5019
0.4838
0.4665
0.9561
0.9143
0.8746
0.8368
0.8007
0.7664
0.7337
0.7026
0.6729
0.6446
0.6176
0.5919
0.5674
0.5439
0.5216
0.5002
0.4799
0.4604
0.4418
0.4241
10
0.9513
0.9053
0.8617
0.8203
0.7812
0.7441
0.7089
0.6756
0.6439
0.6139
0.5854
0.5584
0.5327
0.5083
0.4852
0.4632
0.4423
0.4224
0.4035
0.3855
11
0.9466
0.8963
0.8489
0.8043
0.7621
0.7224
0.6849
0.6496
0.6162
0.5847
0.5549
0.5268
0.5002
0.4751
0.4513
0.4289
0.4076
0.3875
0.3685
0.3505
12
0.9419
0.8874
0.8364
0.7885
0.7436
0.7014
0.6618
0.6246
0.5897
0.5568
0.5260
0.4970
0.4697
0.4440
0.4199
0.3971
0.3757
0.3555
0.3365
0.3186
13
0.9372
0.8787
0.8240
0.7730
0.7254
0.6810
0.4410
0.4141
0.6394
0.4150
0.3906
0.3677
0.3463
0.3262
0.3073
0.2897
0.2633
0.6006
0.5643
0.5303
0.4986
0.4688
14
0.9326
0.8700
0.8118
0.7579
0.7077
0.6611
0.6178
0.5775
0.5400
0.5051
0.4726
0.4423
0.3878
0.3633
0.3405
0.3191
0.2992
0.2807
0.7999
0.9279
0.9233
15
0.8613
0.7430
0.6905
0.6419
0.5969
0.5553
0.5167
0.4810
0.4479
0.4173
0.3888
0.3624
0.3380
0.3152
0.2941
0.2745
0.2563
0.2394
0.8528
0.7880
0.7284
0.6736
0.6232
0.3144
0.5767
0.5572
16
0.5339
0.4945
0.4581
0.4246
0.3936
0.3651
0.3387
0.2919
0.2711
0.2519
0.2341
0.2176
17
0.9187
0.8444
0.7764
0.7142
0.6572
0.6050
0.5134
0.4732
0.4363
0.4024
0.3714
0.3428
0.3166
0.2925
0.2703
0.2499
0.2311
0.2138
0.1978
18
0.9141
0.8360
0.7649
0.7002
0.6412
0.5874
0.5384
0.4936
0.4528
0.4155
0.3815
0.3503
0.3219
0.2959
0.2720
0.2502
0.2303
0.2120
0.1952
0.1799
0.8277
0.7536
0.3305
0.2531
0.2317
0.2122
0.1783
0.1628
19
0.9096
0.6864
0.6255
0.5703
0.5202
0.4746
0.4333
0.3957
0.3616
0.3022
0.2765
0.1945
0.1635
20
0.9051
0.8195
0.7425
0.6730
0.6103
0.5537
0.5026
0.4564
0.4146
0.3769
0.3427
0.3118
0.2838
0.2584
0.2354
0.2145
0.1956
0.1784
0.1486
21
0.9006
0.8114
0.7315
0.6598
0.5954
0.5375
0.4856
0.4388
0.3968
0.3589
0.3249
0.2942
0.2665
0.2415
0.2190
0.1987
0.1803
0.1637
0.1487
0.1351
0.1502
0.1228
0.1358
0.1240
22
0.8961
0.8034
0.7207
0.6468
0.5809
0.5219
0.4692
0.4220
0.3797
0.3418
0.3079
0.2775
0.2502
0.2257
0.2037
0.1839
0.1662
23
0.8916
0.7954
0.7100
0.6342
0.5667
0.5067
0.4533
0.4057
0.3634
0.3256
0.2919
0.2618
0.2349
0.2109
0.1895
0.1703
0.1531
0.1378
0.1117
24
0.8872
0.7876
0.6995
0.6217
0.5529
0.4919
0.4380
0.3901
0.3477
0.3101
0.2767
0.2470
0.2206
0.1971
0.1763
0.1577
0.1412
0.1264
0.1133
0.1015
25
0.8828
0.7798
0.6892
0.6095
0.5394
0.4776
0.4231
0.3751
0.3327
0.2953
0.2622
0.2330
0.2071
0.1842
0.1640
0.1460
0.1301
0.1160
0.1034
0.0923
26
0.8784
0.7720
0.6790
0.5976
0.5262
0.4637
0.4088
0.3607
0.3184
0.2812
0.2486
0.2198
0.1945
0.1722
0.1525
0.1352
0.1199
0.1064
0.0945
0.0839
27
0.8740
0.7644
0.6690
0.5859
0.5134
0.4502
0.3950
0.3468
0.3047
0.2678
0.2356
0.2074
0.1826
0.1609
0.1419
0.1252
0.1105
0.0976
0.0863
0.0763
28
0.8697
0.7568
0.6591
0.5744
0.5009
0.4371
0.3817
0.3335
0.2916
0.2551
0.2233
0.1956
0.1715
0.1504
0.1320
0.1159
0.1019
0.0895
0.0788
0.0693
29
0.8653
0.7493
0.6494
0.5631
0.4887
0.4243
0.3687
0.3207
0.2790
0.2429
0.2117
0.1846
0.1610
0.1406
0.1228
0.1073
0.0939
0.0822
0.0719
0.0630
30
0.8610
0.7419
0.6398
0.5521
0.4767
0.4120
0.3563
0.3083
0.2670
0.2314
0.2006
0.1741
0.1512
0.1314
0.1142
0.0994
0.0865
0.0754
0.0657
0.0573
0.1228
0.0920
0.0600
0.0521
0.0797
0.0735
0.0677
31
0.8567
0.7346
0.6303
0.5412
0.4651
0.4000
0.3442
0.2965
0.2555
0.2204
0.1902
0.1643
0.1420
0.1063
0.0691
0.5306
0.4538
0.3883
0.3326
0.2851
0.2445
0.2099
0.1803
0.1550
0.1333
0.1147
0.0988
0.0852
0.0634
0.0548
0.0474
0.7273
0.7201
0.6210
32
33
0.8525
0.1709
0.1462
0.1252
0.1072
0.0789
0.0582
0.0500
0.0431
0.0919
0.0855
0.8482
0.6118
0.5202
0.4427
0.3770
0.3213
0.2741
0.2340
0.1999
0.0534
0.0457
0.0391
0.1002
0.0937
34
0.8440
0.7130
0.6028
0.5100
0.4319
0.3660
0.3105
0.2636
0.2239
0.1904
0.1620
0.1379
0.1175
0.0730
0.0624
35
0.8398
0.7059
0.5939
0.5000
0.4214
0.3554
0.3000
0.2534
0.2143
0.1813
0.1535
0.1301
0.1103
0.0796
0.0676
0.0575
0.0490
0.0417
0.0356
36
0.8356
0.6989
0.5851
0.4902
0.4111
0.3450
0.2898
0.2437
0.2050
0.1727
0.1455
0.1227
0.1036
0.0875
0.0740
0.0626
0.0530
0.0449
0.0381
0.0323
0.0412
0.0348
0.0294
0.0489
0.0450
0.0818
0.0973
0.0914
37
0.8315
0.6920
0.5764
0.4806
0.4011
0.3350
0.2800
0.2343
0.1962
0.1644
0.1379
0.1158
0.0688
0.0580
0.0318
0.0267
0.0378
0.0347
38
0.8274
0.6852
0.5679
0.4712
0.3913
0.3252
0.2706
0.2253
0.1878
0.1566
0.1307
0.1092
0.0765
0.0640
0.0537
0.0290
0.0243
0.0415
0.0383
0.8232
0.6784
0.5595
0.4619
0.3817
0.3158
0.2614
0.2166
0.1797
0.1491
0.1239
0.1031
0.0858
0.0715
0.0596
0.0497
39
40
0.0265
0.0242
0.0805
0.0460
0.0318
0.0221
0.0668
0.0624
0.8191
0.6717
0.5513
0.4529
0.3724
0.3066
0.2526
0.2083
0.1719
0.1420
0.1175
0.0972
0.0554
0.6650
0.5431
0.4440
0.3633
0.2976
0.2440
0.2003
0.1645
0.1353
0.1113
0.0917
0.0756
0.0516
0.0426
0.0353
0.0292
0.0201
41
0.8151
0.5351
0.4353
0.3545
0.2890
0.2358
0.1926
0.1574
0.1288
0.1055
0.0865
0.0710
0.0583
0.0480
0.0395
0.0325
0.0268
0.0221
0.0183
42
0.8110
0.6584
0.2278
0.1852
0.1507
0.1227
0.1000
0.0816
0.0667
0.0545
0.0446
0.0365
0.0300
0.0246
0.0202
0.0166
43
0.8070
0.6519
0.5272
0.4268
0.3458
0.2805
0.0226
0.0184
0.0151
0.0338
0.0313
0.8030
0.6454
0.5194
0.4184
0.3374
0.2724
0,2201
0.1780
0.1442
0.1169
0.0948
0.0770
0.0626
0.0509
0.0415
0.0276
44
0.0254
0.0207
0.0168
0.0137
0.0386
0.0359
0.2644
0.2127
0.1712
0.1380
0.1113
0.0899
0.0727
0.0588
0.0476
0.5117
0.5042
0.3292
0.7990
0.7950
45
0.6391
0.4102
0.0290
0.0235
0.0190
0.0154
0.0125
0.2567
0.2055
0.1646
0.1320
0.1060
0.0852
0.0685
0.0552
0.0445
0.4022
0.3943
46
0.6327
0.3211
0.0269
0.0216
0.0174
0.0140
0.0113
47
0.7910
0.6265
0.4967
0.3133
0.2493
0.1985
0.1583
0.1263
0.1009
0.0807
0.0647
0.0518
0.0416
0.0334
0.0311
0.0249
0.0199
0.0160
0.0128
0.0103
0.0487
0.0457
0.0961
0.0765
0.0610
0.0389
0.1522
0.1463
0.1407
0.1209
0.1157
0.2420
0.1918
0.3865
0.3790
0.3057
0.2982
48
0.7871
0.6203
0.4894
0.0289
0.0230
0.0184
0.0147
0.0117
0.0094
0.0363
0.0575
0.0543
49
0.7832
0.6141
0.4821
0.2350
0.1853
0.0916
0.0725
0.0872
0.0688
0.0429
0.0339
0.0269
0.0213
0.0169
0.0134
0.0107
0.0085
50
0.7793
0.6080
0.4750
0.3715
0.2909
0.2281
0.1791
0.1107
23
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