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Elaine Romberg prepares her own income tax return each year. A tax preparer would charge her $60 for this ser 12 years, how much does Elaine gain from preparing her own tax return? Assume she can earn 5 percent on her B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Answer is complete but not entirely correct.

Elaine Romberg prepares her own income tax return each year. A tax preparer would charge her $60 for this ser 12 years, how much does Elaine gain from preparing her own tax return? Assume she can earn 5 percent on her B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Answer is complete but not entirely correct.

Essentials Of Investments
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
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Exhibit 1-B Future value (compounded sum) of $1 paid in at the end of each period for a given number of time periods (an annuity) Period 3% 5% 8% 9% 2% 1 1 1 1 1 2.08 2.09 3.246 3.278 4.506 4.573 5.867 7.336 8.923 10.637 12.488 14.487 16.645 18.977 21.495 24.215 27.152 30.324 33.75 37.45 41.446 45.762 73.106 113.283 259.057 573.77 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 25 30 40 50 WNL 3 4 5 6 7 8 9 10 #NAHAS59983898 11 12 13 14 15 16 17 18 19 20 25 30 40 50 1% 1 2.01 3.03 4.06 5.101 6.152 7.214 8.286 9.369 10.462 11.567 12.683 13.809 14.947 16.097 17.258 18.43 19.615 20.811 22.019 28.243 34.785 48.886 64.463 12% 1 2.12 3.374 4.779 6.353 8.115 10.089 12.3 14.776 17.549 20.655 24.133 28.029 32.393 37.28 42.753 48.884 55.75 63.44 72.052 133.334 241.333 767.091 2400.018 2.02 3.06 4.122 5.204 6.308 7.434 8.583 9.755 10.95 12.169 13.412 14.68 15.974 17.293 18.639 20.012 21.412 22.841 24.297 32.03 40.568 60.402 84.579 13% 2.03 3.091 4.184 5.309 6.468 7.662 8.892 10.159 11.464 12.808 14.192 15.618 17.086 18.599 20.157 21.762 23.414 25.117 26.87 36.459 47.575 75.401 112.797 14% 1 2.14 3.44 4.921 6.61 8.536 10.73 13.233 16.085 2.13 3.407 4.85 6.48 8.323 10.405 12.757 15.416 18.42 21.814 25.65 29.985 34.883 40.417 46.672 53.739 61.725 70.749 78.969 80.947 91.025 155.62 181.871 293.199 356.787 1013.704 1342.025 3459.507 4994.521 19.337 23.045 27.271 32.089 37.581 43.842 50.98 59.118 68.394 4% 1 2.04 3.122 4.246 5.416 6.633 7.898 9.214 10.583 12.006 13.486 15.026 16.627 18.292 20.024 21.825 23.698 25.645 27.671 29.778 41.646 56.085 95.026 152.667 15% 2.15 3.473 4.993 6.742 8.754 11.067 13.727 16.786 20.304 24.349 29.002 34.352 40.505 47.58 55.717 65.075 75.836 88.212 102.444 212.793 434.745 1779.09 7217.716 1 2.05 3.153 4.31 5.526 6.802 8.142 9.549 11.027 12.578 14.207 15.917 17.713 19.599 21.579 23.657 25.84 28.132 30.539 33.066 47.727 66.439 120.8 209.348 16% 2.16 3.506 5.066 6.877 8.977 11.414 14.24 17.519 21.321 25.733 30.85 36.786 43.672 51.66 60.925 71.673 84.141 98.603 115.38 249.214 530.312 2360.757 10435.649 6% 1 2.06 3.184 4.375 5.637 6.975 8.394 9.897 11.491 13.181 14.972 16.87 18.882 21.015 23.276 25.673 28.213 30.906 33.76 36.786 54.865 79.058 154.762 290.336 17% 2.17 3.539 5.141 7.014 9.207 11.772 14.773 18.285 22.393 27.2 32.824 39.404 47.103 56.11 66.649 78.979 93.406 110.285 130.033 292.105 647.439 3134.522 15089.502 7% 1 2.07 3.215 4.44 5.751 7.153 8.654 10.26 11.978 13.816 15.784 17.888 20.141 22.55 25.129 27.888 30.84 33.999 37.379 40.995 63.249 94.461 199.635 406.529 18% 2.18 3.572 5.215 7.154 9.442 12.142 15.327 19.086 23.521 28.755 34.931 42.219 50.818 60.965 72.939 87.068 103.74 123.414 146.628 342.603 790.948 4163.213 21813.094 19% 2.19 3.606 5.291 7.297 9.683 12.523 15.902 19.923 24.709 30.404 37.18 45.244 54.841 66.261 79.85 96.022 115.266 138.166 165.418 402.042 966.712 5529.829 31515.336 5.985 7.523 9.2 11.028 13.021 15.193 17.56 20.141 22.953 26.019 29.361 33.003 36.974 41.301 46.018 51.16 84.701 136.308 337.882 815.084 20% 1 2.2 3.64 5.368 7.442 9.93 12.916 16.499 20.799 25.959 32.15 39.581 10% 1 2.1 3.31 4.641 6.105 7.716 9.487 11.436 13.579 15.937 18.531 21.384 24.523 27.975 31.772 35.95 40.545 45.599 51.159 57.275 98.347 164.494 442.593 1163.909 25% 2.25 3.813 5.766 8.207 11.259 15.073 19.842 25.802 33.253 42.566 54.208 68.76 86.949 11% 1 2.11 3.342 4.71 6.228 7.913 9.783 11.859 14.164 16.722 19.561 22.713 26.212 30.095 34.405 39.19 44.501 50.396 56.939 64.203 114.413 199.021 581.826 1668.771 30% 2.3 3.99 6.187 9.043 12.756 17.583 23.858 32.015 42.619 56.405 74.327 97.625 127.913 167.286 218.472 285.014 371.518 48.497 59.196 72.035 109.687 87.442 138.109 105.931 173.636 128.117 218.045 154.74 273.556 483.973 186.688 342.945 630.165 471.981 1054.791 2348.803 1181.882 3227.174 8729.985 7343.858 30088.655 120392.883 45497.191 280255.693 1659760.743
Transcribed Image Text:Exhibit 1-B Future value (compounded sum) of $1 paid in at the end of each period for a given number of time periods (an annuity) Period 3% 5% 8% 9% 2% 1 1 1 1 1 2.08 2.09 3.246 3.278 4.506 4.573 5.867 7.336 8.923 10.637 12.488 14.487 16.645 18.977 21.495 24.215 27.152 30.324 33.75 37.45 41.446 45.762 73.106 113.283 259.057 573.77 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 25 30 40 50 WNL 3 4 5 6 7 8 9 10 #NAHAS59983898 11 12 13 14 15 16 17 18 19 20 25 30 40 50 1% 1 2.01 3.03 4.06 5.101 6.152 7.214 8.286 9.369 10.462 11.567 12.683 13.809 14.947 16.097 17.258 18.43 19.615 20.811 22.019 28.243 34.785 48.886 64.463 12% 1 2.12 3.374 4.779 6.353 8.115 10.089 12.3 14.776 17.549 20.655 24.133 28.029 32.393 37.28 42.753 48.884 55.75 63.44 72.052 133.334 241.333 767.091 2400.018 2.02 3.06 4.122 5.204 6.308 7.434 8.583 9.755 10.95 12.169 13.412 14.68 15.974 17.293 18.639 20.012 21.412 22.841 24.297 32.03 40.568 60.402 84.579 13% 2.03 3.091 4.184 5.309 6.468 7.662 8.892 10.159 11.464 12.808 14.192 15.618 17.086 18.599 20.157 21.762 23.414 25.117 26.87 36.459 47.575 75.401 112.797 14% 1 2.14 3.44 4.921 6.61 8.536 10.73 13.233 16.085 2.13 3.407 4.85 6.48 8.323 10.405 12.757 15.416 18.42 21.814 25.65 29.985 34.883 40.417 46.672 53.739 61.725 70.749 78.969 80.947 91.025 155.62 181.871 293.199 356.787 1013.704 1342.025 3459.507 4994.521 19.337 23.045 27.271 32.089 37.581 43.842 50.98 59.118 68.394 4% 1 2.04 3.122 4.246 5.416 6.633 7.898 9.214 10.583 12.006 13.486 15.026 16.627 18.292 20.024 21.825 23.698 25.645 27.671 29.778 41.646 56.085 95.026 152.667 15% 2.15 3.473 4.993 6.742 8.754 11.067 13.727 16.786 20.304 24.349 29.002 34.352 40.505 47.58 55.717 65.075 75.836 88.212 102.444 212.793 434.745 1779.09 7217.716 1 2.05 3.153 4.31 5.526 6.802 8.142 9.549 11.027 12.578 14.207 15.917 17.713 19.599 21.579 23.657 25.84 28.132 30.539 33.066 47.727 66.439 120.8 209.348 16% 2.16 3.506 5.066 6.877 8.977 11.414 14.24 17.519 21.321 25.733 30.85 36.786 43.672 51.66 60.925 71.673 84.141 98.603 115.38 249.214 530.312 2360.757 10435.649 6% 1 2.06 3.184 4.375 5.637 6.975 8.394 9.897 11.491 13.181 14.972 16.87 18.882 21.015 23.276 25.673 28.213 30.906 33.76 36.786 54.865 79.058 154.762 290.336 17% 2.17 3.539 5.141 7.014 9.207 11.772 14.773 18.285 22.393 27.2 32.824 39.404 47.103 56.11 66.649 78.979 93.406 110.285 130.033 292.105 647.439 3134.522 15089.502 7% 1 2.07 3.215 4.44 5.751 7.153 8.654 10.26 11.978 13.816 15.784 17.888 20.141 22.55 25.129 27.888 30.84 33.999 37.379 40.995 63.249 94.461 199.635 406.529 18% 2.18 3.572 5.215 7.154 9.442 12.142 15.327 19.086 23.521 28.755 34.931 42.219 50.818 60.965 72.939 87.068 103.74 123.414 146.628 342.603 790.948 4163.213 21813.094 19% 2.19 3.606 5.291 7.297 9.683 12.523 15.902 19.923 24.709 30.404 37.18 45.244 54.841 66.261 79.85 96.022 115.266 138.166 165.418 402.042 966.712 5529.829 31515.336 5.985 7.523 9.2 11.028 13.021 15.193 17.56 20.141 22.953 26.019 29.361 33.003 36.974 41.301 46.018 51.16 84.701 136.308 337.882 815.084 20% 1 2.2 3.64 5.368 7.442 9.93 12.916 16.499 20.799 25.959 32.15 39.581 10% 1 2.1 3.31 4.641 6.105 7.716 9.487 11.436 13.579 15.937 18.531 21.384 24.523 27.975 31.772 35.95 40.545 45.599 51.159 57.275 98.347 164.494 442.593 1163.909 25% 2.25 3.813 5.766 8.207 11.259 15.073 19.842 25.802 33.253 42.566 54.208 68.76 86.949 11% 1 2.11 3.342 4.71 6.228 7.913 9.783 11.859 14.164 16.722 19.561 22.713 26.212 30.095 34.405 39.19 44.501 50.396 56.939 64.203 114.413 199.021 581.826 1668.771 30% 2.3 3.99 6.187 9.043 12.756 17.583 23.858 32.015 42.619 56.405 74.327 97.625 127.913 167.286 218.472 285.014 371.518 48.497 59.196 72.035 109.687 87.442 138.109 105.931 173.636 128.117 218.045 154.74 273.556 483.973 186.688 342.945 630.165 471.981 1054.791 2348.803 1181.882 3227.174 8729.985 7343.858 30088.655 120392.883 45497.191 280255.693 1659760.743
Elaine Romberg prepares her own income tax return each year. A tax preparer would charge her $60 for this service. Over a period of 12 years, how much does Elaine gain from preparing her own tax return? Assume she can earn 5 percent on her savings. Use Exhibit 1- B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Answer is complete but not entirely correct. Future value of total gain $1,002.78
Transcribed Image Text:Elaine Romberg prepares her own income tax return each year. A tax preparer would charge her $60 for this service. Over a period of 12 years, how much does Elaine gain from preparing her own tax return? Assume she can earn 5 percent on her savings. Use Exhibit 1- B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Answer is complete but not entirely correct. Future value of total gain $1,002.78
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