Connors Corporation acquired manufacturing equipment for use in its assembly line. Below are four independent situations relating to the acquisition of the equipment. (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.) The equipment was purchased on account for $25,000. Credit terms were 2/10, n/30. Payment was made within the discount period and the company records the purchases of equipment net of discounts. Connors gave the seller a noninterest-bearing note. The note required payment of $27,000 one year from date of purchase. The fair value of the equipment is not determinable. An interest rate of 10% properly reflects the time value of money in this situation. Connors traded in old equipment that had a book value of $6,000 (original cost of $14,000 and accumulated depreciation of $8,000) and paid cash of $22,000. The old equipment had a fair value of $2,500 on the date of the exchange. The exchange has commercial substance. Connors issued 1,000 shares of its no-par common stock in exchange for the equipment. The market value of the common stock was not determinable. The equipment could have been purchased for $24,000 in cash. Required: For each of the above situations, prepare the journal entry required to record the acquisition of the equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.)
Connors Corporation acquired manufacturing equipment for use in its assembly line. Below are four independent situations relating to the acquisition of the equipment. (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.) The equipment was purchased on account for $25,000. Credit terms were 2/10, n/30. Payment was made within the discount period and the company records the purchases of equipment net of discounts. Connors gave the seller a noninterest-bearing note. The note required payment of $27,000 one year from date of purchase. The fair value of the equipment is not determinable. An interest rate of 10% properly reflects the time value of money in this situation. Connors traded in old equipment that had a book value of $6,000 (original cost of $14,000 and accumulated depreciation of $8,000) and paid cash of $22,000. The old equipment had a fair value of $2,500 on the date of the exchange. The exchange has commercial substance. Connors issued 1,000 shares of its no-par common stock in exchange for the equipment. The market value of the common stock was not determinable. The equipment could have been purchased for $24,000 in cash. Required: For each of the above situations, prepare the journal entry required to record the acquisition of the equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Connors Corporation acquired manufacturing equipment for use in its assembly line. Below are four independent situations relating to the acquisition of the equipment. (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.)
- The equipment was purchased on account for $25,000. Credit terms were 2/10, n/30. Payment was made within the discount period and the company records the purchases of equipment net of discounts.
- Connors gave the seller a noninterest-bearing note. The note required payment of $27,000 one year from date of purchase. The fair value of the equipment is not determinable. An interest rate of 10% properly reflects the time value of money in this situation.
- Connors traded in old equipment that had a book value of $6,000 (original cost of $14,000 and
accumulated depreciation of $8,000) and paid cash of $22,000. The old equipment had a fair value of $2,500 on the date of the exchange. The exchange has commercial substance. - Connors issued 1,000 shares of its no-par common stock in exchange for the equipment. The market value of the common stock was not determinable. The equipment could have been purchased for $24,000 in cash.
Required:
For each of the above situations, prepare the
Transcribed Image Text:TABLE 1 Future Value of $1
FV
= $1(1+ i)"
ni 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
1.01000 1.01500
1.02000
1.02500
1.03000
1.03500
1.04000 1.04500 1.05000
1.05500
1.06000
1.07000
1.08000
1.09000
1.10000
1.11000
1.12000
1.20000
2 1.02010
1.03022
1.04040
1.05063
1.06090 1.07123
1.08160
1.09203
1.10250
1.11303
1.12360
1.14490
1.16640
1.18810
1.21000
1.23210
1.25440
1.44000
3
1.03030
1.04568 1.06121
1.07689
1.09273
1.10872
1.12486
1.14117
1.15763
1.17424
1.19102
1.22504
1.25971
1.29503
1.33100
1.36763
1.40493
1.72800
4
1.04060
1.06136
1.08243
1.10381
1.12551 1.14752
1.16986
1.19252
1.21551
1.23882
1.26248
1.31080
1.36049
1.41158
1.46410
1.51807
1.57352
2.07360
5
1.05101
1.07728
1.10408
1.13141
1.15927
1.18769
1.21665
1.24618
1.27628
1.30696
1.33823
1.40255
1.46933
1.53862
1.61051
1.68506
1.76234
2.48832
1.06152
1.09344
1.12616
1.15969
1.19405
1.22926 1.26532
1.30226
1.34010
1.37884
1.41852
1.50073
1.58687
1.67710
1.77156
1.87041
1.97382
2.98598
1.07214
1.10984
1.14869
1.18869
1.22987
1.27228 1.31593 1.36086
1.40710
1.45468
1.50363
1.60578
1.71382
1.82804
1.94872
2.07616
2.21068
3.58318
8
1.08286 1.12649
1.17166
1.21840
1.26677
1.31681
1.36857 1.42210 1.47746 1.53469
1.59385
1.71819
1.85093
1.99256
2.14359
2.30454
2.47596
4.29982
1.09369
1.14339
1.19509
1.24886
1.30477 1.36290
1.42331
1.48610 1.55133
1.61909
1.68948
1.83846
1.99900
2.17189
2.35795
2.55804
2.77308
5.15978
10 1.10462
1.16054
1.21899
1.28008
1.34392
1.41060 1.48024 1.55297
1.62889
1.70814
1.79085
1.96715
2.15892
2.36736
2.59374
2.83942
3.10585
6.19174
11
1.11567
1.17795
1.24337
1.31209
1.38423
1.45997 1.53945 1.62285
1.71034
1.80209
1.89830
2.10485
2.33164
2.58043
2.85312
3.15176
3.47855
7.43008
12 1.12683
1.19562
1.26824
1.34489
1.42576
1.51107
1.60103
1.69588 1.79586 1.90121
2.01220
2.25219
2.51817
2.81266
3.13843
3.49845
3.89598
8.91610
13 1.13809
1.21355
1.29361
1.37851
1.46853 1.56396
1.66507
1.77220 1.88565 2.00577
2.13293
2.40985
2.71962
3.06580
3.45227
3.88328
4.36349
10.69932
14 1.14947
1.23176
1.31948
1.41297
1.51259
1.61869
1.73168
1.85194 1.97993 2.11609
2.26090
2.57853
2.93719
3.34173
3.79750
4.31044
4.88711
12.83918
15 1.16097
1.25023
1.34587
1.44830
1.55797 1.67535
1.80094 1.93528
2.07893
2.23248
2.39656
2.75903
3.17217
3.64248
4.17725
4.78459
5.47357
15.40702
16 1.17258
1.26899
1.37279
1.48451
1.60471
1.73399 1.87298 2.02237 2.18287 2.35526
2.54035
2.95216
3.42594
3.97031
4.59497
5.31089
6.13039
18.48843
17 1.18430
1.28802 1.40024
1.52162
1.65285
1.79468 1.94790 2.11338
2.29202 2.48480
2.69277
3.15882
3.70002
4.32763
5.05447
5.89509
6.86604
22.18611
18 1.19615
1.30734
1.42825
1.55966
1.70243
1.85749 2.02582 2.20848
2.40662 2.62147
2.85434
3.37993
3.99602
4.71712
5.55992
6.54355
7.68997
26.62333
19 1.20811
1.32695 1.45681
1.59865
1.75351
1.92250 2.10685 2.30786 2.52695
2.76565
3.02560
3.61653
4.31570
5.14166
6.11591
7.26334
8.61276
31.94800
20 1.22019
1.34686
1.48595
1.63862
1.80611
1.98979
2.19112 2.41171 2.65330
2.91776
3.20714
3.86968
4.66096
5.60441
6.72750
8.06231
9.64629
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
4.14056
5.03383
6.10881
7.40025
8.94917
10.80385
46.00512
25 1.28243
1.45095 1.64061
1.85394
2.09378 2.36324 2.66584 3.00543
3.38635 3.81339
4.29187
5.42743
6,84848
8.62308
10.83471
13.58546
17.00006
95.39622
30 1.34785
1.56308
1.81136
2.09757 2.42726 2.80679
3.24340 3.74532 4.32194 4.98395
5.74349
7.61226
10.06266
13.26768 17.44940
22.89230
29.95992
237.37631
40 1.48886
1.81402
2.20804
2.68506
3.26204 3.95926 4.80102 5.81636
7.03999 8.51331
10.28572 14.97446
21.72452
31.40942
45.25926
65.00087
93.05097
1469.77160
TABLE 3
Future Value of an Ordinary Annuity of $1
(1+ i)" – 1
FVA =
n/i
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
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
1.0000
2.0100
2.0150
2.0200
2.0250
2.0300
2.0350
2.0400
2.0450
2.0500
2.0550
2.0600
2.0700
2.0800
2.0900
2.1000
2.1100
2.1200
2.2000
3
3.0301
3.0452
3.0604
3.0756
3.0909
3.1062
3.1216
3.1370
3.1525
3.1680
3.1836
3.2149
3.2464
3.2781
3.3100
3.3421
3.3744
3.6400
4
4.0604
4.0909
4.1216
4.1525
4.1836
4.2149
4.2465
4.2782
4.3101
4.3423
4.3746
4.4399
4.5061
4.5731
4.6410
4.7097
4.7793
5.3680
5
5.1010
5.1523
5.2040
5.2563
5.3091
5.3625
5.4163
5.4707
5.5256
5.5811
5.6371
5.7507
5.8666
5.9847
6.1051
6.2278
6.3528
7.4416
6
6.1520
6.2296
6.3081
6.3877
6.4684
6.5502
6.6330
6.7169
6.8019
6.8881
6.9753
7.1533
7.3359
7.5233
7.7156
7.9129
8.1152
9.9299
7
7.2135
7.3230
7.4343
7.5474
7.6625
7,7794
7.8983
8.0192
8.1420
8.2669
8.3938
8.6540
8.9228
9.2004
9.4872
9.7833
10.0890
12.9159
8
8.2857
8.4328
8.5830
8.7361
8.8923
9.0517
9.2142
9.3800
9.5491
9.7216
9.8975
10.2598
10.6366
11.0285
11.4359
11.8594
12.2997
16.4991
9.3685
9.5593
9.7546
9.9545 10.1591
10.3685
10.5828
10.8021
11.0266
11.2563
11.4913
11.9780
12.4876
13.0210
13.5795
14.1640
14.7757
20.7989
10 10.4622 10.7027
10.9497
11.2034
11.4639
11.7314
12.0061
12.2882
12.5779
12.8754
13.1808
13.8164
14.4866
15.1929
15.9374
16.7220
17.5487
25.9587
11
11.5668
11.8633
12.1687
12.4835 12.8078 13.1420
13.4864
13.8412
14.2068
14.5835
14.9716
15.7836
16.6455
17.5603
18.5312
19.5614
20.6546
32.1504
12 12.6825
13.0412
13.4121
13.7956 14.1920 14.6020
15.0258
15.4640
15.9171
16.3856
16.8699
17.8885
18.9771
20.1407
21.3843
22.7132
24.1331
39.5805
13
13.8093
14.2368
14.6803
15.1404 15.6178
16.1130
16.6268
17.1599
17.7130
18.2868
18.8821
20.1406
21.4953
22.9534
24.5227
26.2116
28.0291
48.4966
14 14.9474 15.4504
15.9739
16.5190 17.0863 17.6770
18.2919
18.9321
19.5986
20.2926
21.0151
22.5505
24.2149
26.0192
27,9750
30.0949
32.3926
59.1959
15 16.0969
16.6821
17.2934
17.9319 18.5989 19.2957 20.0236
20.7841
21.5786
22.4087
23.2760
25.1290
27.1521
29.3609
31.7725
34.4054
37.2797
72.0351
16 17.2579
17.9324
18.6393
19.3802
20.1569 20.9710
21.8245
22.7193
23.6575
24.6411
25.6725
27.8881
30.3243
33.0034
35.9497
39.1899
42.7533
87.4421
17 18.4304
19.2014
20.0121
20.8647 21.7616 22.7050 23.6975
24.7417
25.8404
26.9964
28.2129
30.8402
33.7502
36.9737
40.5447
44.5008
48.8837
105.9306
18
19.6147 20.4894
21.4123
22.3863
23.4144 24.4997
25.6454
26.8551
28.1324
29.4812
30.9057
33.9990
37.4502
41.3013
45.5992
50.3959
55.7497
128.1167
19 20.8109
21.7967
22.8406 23.9460 25.1169 26.3572 27.6712
29.0636
30.5390
32.1027
33.7600
37.3790
41.4463
46.0185
51.1591
56.9395
63.4397
154.7400
20 22.0190
23.1237
24.2974
25.5447
26.8704 28.2797 29.7781
31.3714
33.0660
34.8683
36.7856
40.9955
45.7620
51.1601
57.2750
64.2028
72.0524
186.6880
21 23.2392
24.4705 25.7833 27.1833 28.6765 30.2695 31.9692
33.7831
35.7193
37.7861
39.9927
44.8652
50.4229
56.7645
64.0025
72.2651
81.6987
225.0256
30 34.7849 37.5387
40.5681
43.9027
47.5754 51.6227
56.0849
61.0071
66.4388
72.4355
79.0582
94.4608
113.2832
136.3075
164.4940
199.0209
241.3327
1181.8816
40 48.8864
54.2679
60.4020
67.4026 75.4013 84.5503 95.0255
107.0303
120.7998
136.6056
154.7620
199.6351
259.0565
337.8824
442.5926
581.8261
767.0914
7343.8578
TABLE 5 Future Value of an Annuity Due of $1
(1+ i)" – 1
FVAD =
x (1+ i)
n/i
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
1.0100
1.0150
1.0200
1.0250
1.0300
1.0350
1.0400
1.0450
1.0500
1.0550
1.0600
1.0700
1.0800
1.0900
1.1000
1.1100
1.1200
1.2000
2.0301
2.0452
2.0604
2.0756
2.0909
2.1062
2.1216
2.1370
2.1525
2.1680
2.1836
2.2149
2.2464
2.2781
2.3100
2.3421
2.3744
2.6400
3.0604
3.0909
3.1216
3.1525
3.1836
3.2149
3.2465
3.2782
3.3101
3.3423
3.3746
3.4399
3.5061
3.5731
3.6410
3.7097
3.7793
4.3680
4
4.1010
4.1523
4.2040
4.2563
4.3091
4.3625
4.4163
4.4707
4.5256
4.5811
4.6371
4.7507
4.8666
4.9847
5.1051
5.2278
5.3528
6.4416
5
5.1520
5.2296
5.3081
5.3877
5.4684
5.5502
5.6330
5.7169
5.8019
5.8881
5.9753
6.1533
6.3359
6.5233
6.7156
6.9129
7.1152
8.9299
6.2135
6.3230
6.4343
6.5474
6.6625
6.7794
6.8983
7.0192
7.1420
7.2669
7.3938
7.6540
7.9228
8.2004
8.4872
8.7833
9.0890
11.9159
7
7.2857
7.4328
7.5830
7.7361
7.8923
8.0517
8.2142
8.3800
8.5491
8.7216
8.8975
9.2598
9.6366
10.0285
10.4359
10.8594
11.2997
15.4991
8.3685
8.5593
8.7546
8.9545
9.1591
9.3685
9.5828
9.8021
10.0266
10.2563
10.4913
10.9780
11.4876
12.0210
12.5795
13.1640
13.7757
19.7989
9.4622
9.7027
9.9497 10.2034 10.4639
10.7314
11.0061
11.2882
11.5779
11.8754
12.1808
12.8164
13.4866
14.1929
14.9374
15.7220
16.5487
24.9587
10
10.5668
10.8633
11.1687 11.4835
11.8078
12.1420
12.4864
12.8412
13.2068
13.5835
13.9716
14.7836
15.6455
16.5603
17.5312
18.5614
19.6546
31.1504
11
11.6825
12.0412
12.4121 12.7956 13.1920
13.6020
14.0258
14.4640
14.9171
15.3856
15,8699
16.8885
17.9771
19.1407
20.3843
21.7132
23.1331
38.5805
12
12.8093
13.2368
13.6803
14.1404
14.6178
15.1130
15.6268
16.1599
16.7130
17.2868
17.8821
19.1406
20.4953
21.9534
23.5227
25.2116
27.0291
47.4966
13
13.9474
14.4504 14.9739 15.5190
16.0863
16.6770
17.2919
17.9321
18.5986
19.2926
20.0151
21.5505
23.2149
25.0192
26.9750
29.0949
31.3926
58.1959
14
15.0969
15.6821
16.2934 16.9319
17.5989
18.2957
19.0236
19.7841
20.5786
21.4087
22.2760
24.1290
26.1521
28.3609
30.7725
33.4054
36.2797
71.0351
15
16.2579
16.9324
17.6393 18.3802
19.1569
19.9710 20.8245
21.7193
22.6575
23.6411
24.6725
26.8881
29.3243
32.0034
34.9497
38.1899
41.7533
86.4421
16 17.4304
18.2014
19.0121
19.8647 20.7616 21.7050
22.6975
23.7417
24.8404
25.9964
27.2129
29.8402
32.7502
35.9737
39.5447
43.5008
47.8837
104.9306
17
18.6147
19.4894 20.4123 21.3863 22.4144 23.4997
24.6454
25.8551
27.1324
28.4812
29.9057
32.9990
36.4502
40.3013
44.5992
49.3959
54.7497
127.1167
18
19.8109 20.7967 21.8406 22.9460
24.1169
25.3572
26.6712
28.0636
29.5390
31.1027
32.7600
36.3790
40.4463
45.0185
50.1591
55.9395
62.4397
153.7400
19
21.0190
22.1237
23.2974 24.5447
25.8704
27.2797 28.7781
30.3714
32.0660
33.8683
35.7856
39.9955
44.7620
50.1601
56.2750
63.2028
71.0524
185.6880
20 22.2392
23.4705
24.7833 26.1833
27.6765
29.2695
30.9692
32.7831
34.7193
36.7861
38.9927
43.8652
49.4229
55.7645
63.0025
71.2651
80.6987
224.0256
21
23.4716 24.8376 26.2990
27.8629
29,5368
31.3289
33.2480
35.3034
37.5052
39,8643
42.3923
48.0057
54.4568
61.8733
70.4027
80.2143
91.5026
270.0307
25
28.5256
30.5140
32.6709
35.0117
37.5530 40.3131
43.3117
46.5706
50.1135
53.9660
58.1564
67.6765
78.9544
92.3240
108.1818
126.9988
149.3339
566.3773
30 35.1327
38.1018
41.3794 45.0003
49.0027
53.4295 58.3283
63.7524
69.7608
76.4194
83.8017 101.0730
122.3459
148.5752
180.9434
220.9132
270.2926
1418.2579
40
49.3752
55.0819
61.6100 69.0876 77.6633
87.5095
98.8265
111.8467
126.8398
144.1189
164.0477 213.6096 279.7810 368.2919 486.8518
645.8269
859.1424 8812.6294
Transcribed Image Text:TABLE 2 Present Value of $1
$1
PV =
(1+ i)"
n/i
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
0.99010 0.98522
0.98039
0.97561
0.97087 0.96618
0.96154 0.95694 0.95238 0.94787
0.94340
0.93458
0.92593 0.91743 0.90909 0.90090 0.89286
0.83333
2 0.98030 0.97066
0.96117 0.95181
0.94260 0.93351
0.92456 0.91573
0.90703
0.89845 0.89000
0.87344
0.85734 0.84168 0.82645
0.81162 0.79719
0.69444
3
0.97059 0.95632 0.94232
0.92860
0.91514 0.90194
0.88900
0.87630
0.86384 0.85161 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 0.82270 0.80722
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 0.66634
0.63017 0.59627 0.56447
0.53464 0.50663
0.33490
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
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 0.38554
0.35218 0.32197
0.16151
11 0.89632 0.84893
0.80426
0.76214
0.72242 0.68495
0.64958 0.61620
0.58468
0.55491
0.52679
0.47509
0.42888
0.38753 0.35049
0.31728 0.28748
0.13459
12 0.88745 0.83639 0.78849
0.74356
0.70138 0.66178 0.62460 0.58966 0.55684 0.52598
0.49697
0.44401
0.39711
0.35553 0.31863
0.28584
0.25668
0.11216
13 0.87866
0.82403
0.77303
0.72542 0.68095 0.63940
0.60057
0.56427
0.53032
0.49856
0.46884
0.41496
0.36770
0.32618
0.28966
0.25751
0.22917
0.09346
14 0.86996
0.81185
0.75788 0.70773
0.66112 0.61778 0.57748 0.53997
0.50507
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 0.78803
0.72845
0.67362
0.62317
0.57671
0.53391 0.49447
0.45811
0.42458
0.39365 0.33873
0.29189
0.25187
0.21763
0.18829
0.16312
0.05409
17 0.84438 0.77639 0.71416 0.65720 0.60502 0.55720
0.51337 0.47318 0.43630 0.40245
0.37136 0.31657 0.27027 0.23107 0.19784 0.16963 0.14564
0.04507
18 0.83602 0.76491
0.70016
0.64117
0.58739
0.53836 0.49363 0.45280
0.41552 0.38147
0.35034 0.29586
0.25025
0.21199 0.17986 0.15282 0.13004
0.03756
19 0.82774 0.75361
0.68643
0.62553
0.57029 0.52016 0.47464 0.43330 0.39573
0.36158
0.33051
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
0.41464
0.37689
0.34273
0.31180
0.25842 0.21455
0.17843
0.14864
0.12403
0.10367
0.02608
21
0.81143
0.73150
0.65978
0.59539
0.53755 0.48557
0.43883 0.39679 0.35894
0.32486
0.29416
0.24151
0.19866 0.16370 0.13513
0.11174
0.09256 0.02174
24 0.78757 0.69954 0.62172
0.55288 0.49193
0.43796 0.39012 0.34770 0.31007 0.27666
0.24698
0.19715
0.15770 0.12640
0.10153 0.08170 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
0.23300 0.18425
0.14602
0.11597
0.09230
0.07361
0.05882
0.01048
28
0.75684
0.65910
0.57437
0.50088
0.43708 0.38165
0.33348
0.29157
0.25509
0.22332
0.19563
0.15040
0.11591
0.08955 0.06934
0.05382
0.04187
0.00607
29 0.74934 0.64936
0.56311
0.48866 0.42435 0.36875
0.32065 0.27902
0.24295
0.21168 0.18456 0.14056 0.10733 0.08215 0.06304 0.04849
0.03738 0.00506
30 0.74192
0.63976
0.55207
0.47674 0.41199
0.35628
0.30832 0.26700
0.23138 0.20064
0.17411 0.13137 0.09938 0.07537 0.05731
0.04368
0.03338
0.00421
31 0.73458 0.63031
0.54125
0.46511
0.39999
0.34423 0.29646 0.25550 0.22036 0.19018 0.16425 0.12277 0.09202 0.06915 0.05210
0.03935
0.02980
0.00351
40 0.67165
0.55126 0.45289 0.37243 0.30656
0.25257 0.20829 0.17193
0.14205
0.11746
0.09722 0.06678
0.04603 0.03184
0.02209
0.01538
0.01075
0.00068
TABLE 4 Present Value of an Ordinary Annuity of $1
1
(1+i)"
PVA =
i
n/i
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
0.99010
0.98522
0.98039
0.97561
0.97087
0.96618
0.96154
0.95694
0.95238
0.94787
0.94340
0.93458
0.92593
0.91743
0.90909
0.90090
0.89286
0.83333
2
1.97040
1.95588
1.94156
1.92742
1.91347
1.89969
1.88609
1.87267
1.85941
1.84632
1.83339
1.80802
1.78326
1.75911
1.73554
1.71252
1.69005
1.52778
3
2.94099
2.91220
2.88388
2.85602
2.82861
2.80164
2.77509
2.74896
2.72325
2.69793
2.67301
2.62432
2.57710
2.53129 2.48685 2.44371
2.40183
2.10648
4
3.90197
3.85438
3.80773
3.76197
3.71710
3.67308
3.62990
3.58753
3.54595
3.50515
3.46511
3.38721
3.31213
3.23972 3.16987 3.10245 3.03735 2.58873
5
4.85343
4.78264
4.71346
4.64583
4.57971
4.51505
4.45182
4.38998
4.32948
4.27028
4.21236
4.10020
3.99271
3.88965 3.79079 3.69590 3.60478 2.99061
6
5.79548
5.69719
5.60143
5.50813
5.41719
5.32855
5.24214
5.15787
5.07569
4.99553
4.91732
4.76654
4.62288
4.48592 4.35526
4.23054
4.11141
3.32551
6.72819
6.59821
6.47199
6.34939
6.23028
6.11454
6.00205
5.89270
5.78637
5.68297
5.58238
5.38929
5.20637
5.03295
4.86842
4.71220 4.56376 3.60459
8
7.65168
7.48593
7.32548
7.17014
7.01969
6.87396
6.73274
6.59589
6.46321
6.33457
6.20979
5.97130
5.74664
5.53482
5.33493
5.14612
4.96764
3.83716
8.56602
8.36052
8.16224
7.97087
7.78611
7,60769
7.43533
7.26879
7.10782
6.95220
6.80169
6.51523
6.24689
5.99525
5.75902
5.53705
5.32825 4.03097
10
9.47130
9.22218
8.98259
8.75206
8.53020
8.31661
8.11090
7.91272
7.72173
7.53763
7.36009
7.02358
6.71008
6.41766 6.14457
5.88923
5.65022
4.19247
11 10.36763
10.07112
9.78685
9.51421
9.25262
9.00155
8.76048
8,52892
8.30641
8.09254
7,88687
7.49867
7.13896
6.80519
6.49506
6.20652 5.93770 4.32706
12
11.25508
10.90751
10.57534
10.25776
9.95400
9.66333
9.38507
9.11858
8.86325
8.61852
8.38384
7.94269
7.53608
7.16073
6.81369
6.49236 6.19437 4.43922
13 12.13374
11.73153
11.34837
10.98319
10.63496
10.30274
9.98565
9.68285
9.39357
9.11708
8.85268
8.35765
7.90378
7.48690
7.10336
6.74987
6.42355 4.53268
14 13.00370
12.54338
12.10625
11.69091
11.29607
10.92052
10.56312
10.22283
9.89864
9.58965
9.29498
8.74547
8.24424
7.78615 7.36669 6.98187 6.62817
4.61057
15 13.86505
13.34323
12.84926
12.38138 11.93794
11.51741
11.11839
10.73955
10.37966
10.03758
9.71225
9.10791
8.55948
8.06069 7.60608
7.19087
6.81086 4.67547
16 14.71787 14.13126 13.57771
13.05500
12.56110
12.09412
11.65230
11.23402
10.83777
10.46216
10.10590
9.44665
8.85137
8.31256 7.82371
7.37916 6.97399
4.72956
17
15.56225
14.90765
14.29187
13.71220 13.16612
12.65132
12.16567
11.70719
11.27407
10.86461
10.47726
9.76322
9.12164
8.54363 8.02155
7.54879
7.11963 4.77463
18 16.39827
15.67256
14.99203
14.35336
13.75351
13.18968
12.65930
12.15999
11.68959
11.24607
10.82760
10.05909
9.37189
8.75563
8.20141
7.70162 7.24967
4.81219
19
17.22601
16.42617
15.67846
14.97889 14.32380
13.70984 13.13394
12.59329
12.08532
11.60765
11.15812 10.33560
9.60360
8.95011
8.36492
7.83929 7.36578 4.84350
20
18.04555
17.16864
16.35143
15.58916 14.87747
14.21240
13.59033
13.00794
12.46221
11.95038
11.46992
10.59401
9.81815
9.12855 8.51356
7.96333
7.46944
4.86958
21
18.85698
17.90014
17.01121
16.18455
15.41502
14.69797
14.02916 13.40472
12.82115
12.27524
11.76408 10.83553
10.01680
9.29224
8.64869
8.07507
7.56200
4.89132
25
22.02316 20.71961
19.52346
18.42438 17.41315
16.48151
15.62208 14.82821
14.09394
13.41393
12.78336 11.65358
10.67478
9.82258 9.07704 8.42174 7.84314 4.94759
30 25.80771
24.01584
22.39646
20.93029
19.60044
18.39205
17.29203
16.28889
15.37245
14.53375
13.76483
12.40904
11.25778 10.27365 9.42691
8.69379 8.05518 4.97894
40 32.83469 29.91585
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
8.95105 8.24378 4.99660
TABLE 6
Present Value of an Annuity Due of $1
1
(1+1)"
PVAD =
x (1+ i)
i
n/i
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
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
1.00000
2
1.99010
1.98522
1.98039
1.97561
1.97087
1.96618
1.96154
1.95694
1.95238
1.94787
1.94340
1.93458
1.92593
1.91743
1.90909
1.90090
1.89286 1.83333
3
2.97040
2.95588
2.94156
2.92742
2.91347
2.89969
2.88609
2.87267
2.85941
2.84632
2.83339
2.80802
2.78326
2.75911
2.73554
2.71252 2.69005 2.52778
4
3.94099
3.91220
3.88388
3.85602
3.82861
3.80164
3.77509
3.74896
3.72325
3.69793
3.67301
3.62432
3.57710
3.53129
3.48685
3.44371
3.40183 3.10648
5
4.90197
4.85438
4.80773
4.76197
4.71710
4.67308
4.62990
4.58753
4.54595
4.50515
4.46511
4.38721
4.31213
4.23972
4.16987
4.10245
4.03735 3.58873
5.85343
5.78264
5.71346
5.64583
5.57971
5.51505
5.45182
5.38998
5.32948
5.27028
5.21236
5.10020
4.99271
4.88965
4.79079
4.69590 4.60478 3.99061
7
6.79548
6.69719
6.60143
6.50813
6.41719
6.32855
6.24214
6.15787
6.07569
5.99553
5.91732
5.76654
5.62288
5.48592
5.35526 5.23054 5.11141 4.32551
8
7.72819
7.59821
7.47199
7.34939
7.23028
7.11454
7.00205
6.89270
6.78637
6.68297
6.58238
6.38929
6.20637
6.03295
5.86842 5.71220
5.56376 4.60459
9
8.65168
8.48593
8.32548
8.17014
8.01969
7.87396
7.73274
7.59589
7.46321
7.33457
7.20979
6.97130
6.74664
6.53482
6.33493
6.14612 5.96764
4.83716
10
9.56602
9.36052
9.16224
8.97087
8.78611
8.60769
8.43533
8.26879
8.10782
7.95220
7.80169
7.51523
7.24689
6.99525
6.75902
6.53705
6.32825
5.03097
11
10.47130
10.22218
9.98259
9.75206
9.53020
9.31661
9.11090
8.91272
8.72173
8.53763
8.36009
8.02358
7.71008
7.41766
7.14457
6.88923 6.65022 5.19247
12
11.36763
11.07112
10.78685
10.51421
10.25262
10.00155
9.76048
9.52892
9.30641
9.09254
8.88687
8.49867
8.13896
7.80519
7.49506
7.20652 6.93770 5.32706
13
12.25508
11.90751
11.57534
11.25776
10.95400
10.66333
10.38507
10.11858
9.86325
9.61852
9.38384
8.94269
8.53608
8.16073
7.81369
7.49236
7.19437 5.43922
14
13.13374
12.73153
12.34837
11.98318
11.63496
11.30274
10.98565
10.68285
10.39357
10.11708
9.85268
9.35765
8.90378
8.48690
8.10336 7.74987 7.42355 5.53268
15
14.00370
13.54338
13.10625
12.69091
12.29607
11.92052
11.56312
11.22283
10.89864
10.58965
10.29498
9.74547
9.24424
8.78615
8.36669
7.98187 7.62817 5.61057
16
14.86505
14.34323
13.84926
13.38138 12.93794 12.51741
12.11839
11.73955
11.37966
11.03758 10.71225
10.10791
9.55948
9.06069
8.60608
8.19087
7.81086 5.67547
17
15.71787
15.13126
14.57771
14.05500
13.56110
13.09412 12.65230
12.23402
11.83777
11.46216
11.10590
10.44665
9.85137
9.31256
8.82371
8.37916 7.97399 5.72956
18
16.56225
15.90765
15.29187
14.71220
14.16612
13.65132 13.16567
12.70719
12.27407
11.86461
11.47726
10.76322 10.12164
9.54363
9.02155
8.54879 8.11963 5.77463
19
17.39827
16.67256
15.99203 15.35336
14.75351
14.18968
13.65930
13.15999
12.68959
12.24607
11.82760
11.05909 10.37189
9.75563
9.20141
8.70162 8.24967 5.81219
20
18.22601
17.42617
16.67846 15.97889
15.32380
14.70984
14.13394
13.59329
13.08532
12.60765 12.15812
11.33560
10.60360
9.95011
9.36492 8.83929
8.36578 5.84350
21
19.04555
18.16864
17.35143 16.58916
15.87747
15.21240 14.59033
14.00794
13.46221
12.95038 12.46992
11.59401
10.81815
10.12855
9.51356 8.96333 8.46944 5.86958
25
22.24339
21.03041
19.91393 18.88499
17.93554
17.05837
16.24696
15.49548
14.79864
14.15170
13.55036
12.46933
11.52876
10.70661
9.98474 9.34814 8.78432 5.93710
30 26.06579
24.37608
22.84438
21.45355 20.18845
19.03577
17.98371
17.02189 16.14107
15.33310
14.59072
13.27767
12.15841
11.19828
10.36961 9.65011
9.02181
5.97472
40
33.16303
30.36458
27.90259 25.73034
23.80822
22.10250
20.58448
19.22966
18.01704
16.92866 15.94907
14.26493
12.87858
11.72552
10.75696 9.93567
9.23303
5.99592
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