Future value interest factor of $1 per period at i% for n periods, FVIF(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% 1.0050 1.0100 | 1.0150 1.0200 1.0100 1.0201 1.0302 1.0404 1.0151 1.0303 1.0457 1.0612 1.0202 1.0406 1.0614 1.0824 1.0253 1.0510 1.0773 1.1041 1.0304 1.0615 1.0934 1.1262 1.0355 1.0721 1.1098 1.1487 1.0407 1.0829 1.1265 1.1717 1.0459 1.0937 1.1434 1.1951 1.0511 1.1046 1.1605 1.2190 1.0564 1.1157 1.1779 1.2434 1.0617 1.1268 1.1956 1.2682 1.0670 1.1381 1.2136 1.2936 1.0723 1.1495 1.2318 1.3195 1.0777 1.1610 1.2502 1.3459 1.0831 1.1726 1.2690 1.3728 1.0885 1.1843 1.2880 1.4002 1.0939 1.1961 1.3073 1.4282 1.0994 1.2081 1.3270 1.4568 1.1049 1.2202 1.3469 1.4859 1.1104 1.2324 1.1160 1.2447 1.1216 1.2572 1.4084 1.5769 1.1272 1.2697 1.4295 1.6084 1.1328 1.2824 1.4509 1.6406 1.1385 1.2953 1.4727 1.6734 1.1442 1.3082 1.4948 1.7069 1.0500 1.0600 1.0950 1.1990 1.3129 1.0250 1.0300 1.0350 1.0400 1.0450 1.0550 1.0650 1.0700 1.0750 1.0800 1.0850 1.0900 1.1000 1.2100 1.3310 1.0506 1.0609 1.0712 1.0816 1.0920 1.1025 1.1130 1.1556 1.1236 1.1910 1.2625 1.1342 1.1449 1.1664 1.1772 1.1881 1.1249 1.1699 1.1742 1.2388 1.3070 1.3788 1.2597 1.3605 1.4693 1.5869 1.0769 1.0927 1.1087 1.1412 1.1576 1.2079 1.2250 1.2423 1.2773 1.2950 4 1.1038 1.1255 1.1475 1.1925 1.2155 1.2865 1.3108 1.3355 1.3859 1.4116 1.4377 1.4641 1.1314 1.1597 1.1887 1.2184 1.2489 1.1593 1.1877 1.2167 1.2462 1.2763 1.3382 1.3701 1.4026 1.4356 1.5037 1.5386 1.5742 1.6105 1.2653 1.3159 1.3686 1.3401 1.4071 1.4775 1.1941 1.2293 1.3023 1.4185 1.4591 1.5007 1.5433 1.6590 1.7835 1.6315 1.6771 1.7238 ी 1.7716 1.6058 1.7138 1.8509 1.9990 2.1589 1.2299 1.2723 1.3609 1.4547 1.5036 1.5540 1.7701 1.8280 1.8876 1.9487 1.3168 1.4221 1.9926 2.1719 1.2668 1.5347 1.5938 1.6550 1.7182 1.9206 2.0669 2.1436 1.6191 1.7081 1.3048 1.3629 1.4233 1.4861 1.5513 1.6895 1.7626 1.8385 1.9172 2.0839 2.2632 2.3579 10 1.2801 1.3439 1.4106 1.4802 1.5530 1.6289 1.7908 1.8771 1.9672 2.0610 2.2610 2.3674 2.4782 2.5937 11 1.3121 1.3842 1.4600 1.5395 1.6229 1.7103 1.8021 1.8983 1.9992 2.1049 2.2156 2.3316 2.4532 2.5804 2.7137 2.8531 こ0031 3.1384 12 1.3449 1.4258 1.5111 1.6010 1.6959 1.7959 1.9012 2.0122 2.1291 2.2522 2.3818 2.5182 2.6617 2.8127 2.9715 13 1.3785 1.4685 1.5640 1.6651 1.7722 1.8856 2.0058 2.1329 2.2675 2.4098 2.5604 2.7196 2.8879 3.0658 3.2537 3.4523 14 1.4130 1.5126 1.6187 1.7317 1.8519 1.9799 2.1161 2.2609 2.4149 2.5785 2.7524 2.9372 3.1334 3.3417 3.5629 こ023 3.9013 3.7975 15 1.4483 1.5580 1.6753 1.8009 1.9353 2.0789 2.2325 2.3966 2.5718 2.7590 2.9589 3.1722 3.3997 3.6425 4.1772 3.6887 4.0023 16 1.4845 1.6047 1.7340 1.8730 2.0224 2.1829 2.3553 2.5404 2.7390 2.9522 3.1808 3.4259 3.9703 4.2719 4.5950 17 1.5216 1.6528 1.7947 1.9479 2.1134 2.2920 2.4848 2.6928 2.9170 3.1588 3.4194 3.7000 4.3276 4.6778 5.0545 18 1.5597 1.7024 1.8575 2.0258 2.2085 2.4066 2.6215 2.8543 3.1067 3.3799 3.6758 3.9960 4.3425 4.7171 5.1222 5.5599 こ000 4.3157 19 1.5987 1.7535 1.9225 2.1068 2.3079 2.5270 2.7656 3.0256 3.3086 3.6165 3.9515 4.7116 5.1417 5.6088 6.1159 20 1.6386 1.8061 1.9898 2.1911 2.4117 2.6533 2.9178 3.2071 3.5236 3.8697 4.2479 4.6610 5.1120 5.6044 6.1416 6.7275 こ230 3.7527 1.3671 1.5157 1.3876 1.5460 21 1.6796 1.8603 2.0594 2.2788 2.5202 2.7860 3.0782 3.3996 4.1406 4.5664 5.0338 5.5466 6.1088 6.7251 7.4002 こ080 3.6035 22 1.7216 1.9161 2.1315 2.3699 2.6337 2.9253 3.2475 3.9966 4.4304 4.9089 5.4365 6.0180 6.6586 7.3639 8.1403 23 1.7646 1.9736 2.2061 2.4647 2.7522 3.0715 3.4262 3.8197 4.2564 4.7405 5.2771 5.8715 6.5296 7.2579 8.0635 8.9543 24 1.8087 2.0328 2.2833 2.5633 2.8760 3.2251 3.6146 4.0489 4.5331 5.0724 5.6729 6.3412 7.0846 7.9111 8.8296 9.8497 25 1.8539 2.0938 2.3632 2.6658 3.0054 3.3864 3.8134 4.2919 4.8277 5.4274 6.0983 6.8485 7.6868 8.6231 9.6684 10.8347 26 1.9003 2.1566 2.4460 2.7725 3.1407 3.5557 4.0231 4.5494 5.1415 5.8074 6.5557 7.3964 8.3401 9.3992 10.5869 11.9182 2.2213 2.5316 2.8834 4.2444 5.4757 9.0490 13.1100 27 1.9478 3.2820 3.7335 4.8223 0.2139 7.0474 7.9881 10.2451 11.5926 Szzo't 28 1.9965 2.2879 2.6202 2.9987 3.4297 3.9201 4.4778 5.1117 5.8316 6.6488 7.5759 8.6271 9.8182 11.1671 12.6939 14.4210 1.1499 | 1.3213 | 1.5172 1.1556 1.3345 1:1410 1.5400 1.7758 1 1614 13478 15631 18114 10 141:34ro| 1.9051|0114 1 1672 13613 15865 18476 29 2.0464 2.3566 2.7119 3.1187 3.5840 4.1161 4.7241 5.4184 6.2107 7.1143 8.1441 9.3173 10.6528 12.1722 13.8998 15.8631 145 7.6123 8.1451 :1441 8.7550 10.0520 11.5583 12.1722 13.2677 2.4273 5.7435 こ430 6.0881 30 2.0976 2.8068 3.2434 3.7453 4.3219 4.9840 6.6144 10.0627 15.2203 17.4494 10.0027 10.8677 10.007 11.7371 31 2.1500 2.5001 2.9050 3.3731 3.9139 4.5380 5.2581 7.0443 9.4116 12.5407 14.4618 16.6662 19.1943 19. 1945 21.1138 32 1.6103 1.8845 2.2038 2.5751 3.0067 3.5081 4.0900 4.7649 5.5473 6.4534 7.5022 8.7153 10.1174 13.6067 15.7633 18.2495 1.6345 1.9222 1.1789 | 1.38871.0345 | 19222 1.1848 1.4026 1.6590 1.9607 33 2.2589 2.6523 3.1119 3.6484 4.2740 5.0032 5.8524 6.8406 7.9898 9.3253 10.8763 12.6760 14.7632 17.1820 19.9832 23.2252 そ32232 25.5477 34 2.3153 2.7319 3.2209 3.7943 4.4664 5.2533 6.1742 7.2510 8.5092 9.9781 11.6920 13.6901 16.0181 18.7284 21.8816 1.1907 1.4166 1.6839 1.9999 1.1967 1.4308 1.7091 2.0399 1.2027 1.4451 1.7348 2.0807 35 2.3732 2.8139 3.3336 3.9461 4.6673 5.5160 6.5138 7.6861 9.0623 10.6766 12.5689 14.7853 17.3796 20.4140 23.9604 28.1024 *.0073 4.8774 36 2.4325 2.8983 3.4503 4.1039 5.7918 6.8721 8.1473 9.6513 11.4239 13.5115 15.9682 18.8569 22.2512 26.2366 30.9127 1.7348 2.0807 1.7608 2.1223 1.2147 1.4741 1.7872 2.1647 * 1039 4.2681 *.200 4.4388 37 2.4933 2.9852 3.5710 5.0969 6.0814 7.2501 8.6361 10.2786 12.2236 14.5249 17.2456 20.4597 24.2538 28.7291 34.0039 38 1.2087 1.4595 1.2087 |1.49951.7000 2.5557 3.0748 3.6960 5.3262 6.3855 7.6488 9.1543 10,9467 13.0793 15.6143 18.6253 22.1988 26.4367 31.4584 37.4043 15.0 145 16.7853 10.7635 18.0442 39 2.6196 3.1670 3.8254 4.6164 5.5659 6.7048 8.0695 9.7035 11.6583 13.9948 20.1153 24.0857 28.8160 34.4469 41.1448 S.1070 3.2620 11.0903 *.0 104 4.8010 こ3099 5.8164 3.0 164 6.0781 40 2.6851 3.9593 7.0400 8.5133 10.2857 12.4161 14.9745 21.7245 26.1330 31.4094 37.7194 45.2593 1.2208 | 1.4889 | 1.8 140 2.2080 1.2269 1.5038 1.8412 2.2522 12330 1.5188 1.8688 2.2972 1.2330 |15 188 | 1.8688 2.2972 1.2392 1.5340 41 2.7522 3.3599 4.0978 4.9931 7.3920 8.9815 10.9029 13.2231 16.0227 19.3976 23.4625 28.3543 34.2363 41.3027 49.7852 *.995 5.1928 *9.7632 54.7637 42 2.8210 3.4607 4.2413 6.3516 7.7616 9.4755 11.5570 14.0826 17.1443 20.8524 25.3395 30.7644 37.3175 45.2265 1:1445 18.3444 20.0524 22.4163 43 1.8969 2.3432 2.8915 3.5645 4.3897 5.4005 6.6374 8.1497 9.9967 12.2505 14.9980 27.3666 33.3794 40.6761 49.5230 60.2401 12.2505 12.9855 1.2454 1.5493 1.9253 2.3901 1.2516 1.5648 1.9542 2.4379 1.2579 1.5805 1.9835 2.4866 1.2642 1.5963 2.0133 2.5363 1.2705 1.6122 2.0435 2.5871 1.2768 1.6283 2.0741 2.6388 1.2832 1.6446 2.1052 2.6916 44 2.9638 3.6715 4.5433 5.6165 6.9361 8.5572 10.5465 15.9729 19.6285 24.0975 29.5560 36.2167 44.3370 54.2277 66.2641 क00 11.1266 *4.3370 48.3273 45 リフブャに 3.0379 3.7816 4.7024 5.8412 7.2482 8.9850 13.7646 17.0111 21.0025 25.9048 31.9204 39.2951 59.3793 72.8905 46 3.1139 ৩.।।3৪ 3.8950 4.8669 6.0748 7.5744 9.4343 11.7385 14.5905 18.1168 22.4726 27.8477 34.4741 42.6352 52.6767 65.0204 80.1795 47 3.1917 4.0119 5.0373 6.3178 7.9153 9.9060 12.3841 15.4659 19.2944 24.0457 29.9363 37.2320 46.2592 57.4176 71.1973 88.1975 48 3.2715 4.1323 5.2136 6.5705 8.2715 10.4013 13,0653 16.3939 20.5485 25.7289 32.1815 40.2106 50.1912 62.5852 77.9611 97.0172 49 3.3533 4.2562 5.3961 6.8333 8.6437 10.9213 13.7838 17.3775 21.8842 27.5299 34.5951 43.4274 54.4574 68.2179 85.3674 106.7190 50 3.4371 4.3839 5.5849 7.1067 9.0326 11.4674 14.5420 18.4202 23.3067 29.4570 37.1897 46.9016 59.0863 74.3575 93.4773 117.3909
Sam Long anticipates he will need approximately $225,000 in 15 years to cover his 3-year-old daughter’s college bills for a 4-year degree.
How much would he have to invest today at an interest rate of 8% compounded semiannually? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.)
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Sam Long anticipates he will need approximately $225,600 in 15 years to cover his 3-year-old daughter’s college bills for a 4-year degree.
How much would he have to invest today at an interest rate of 6% compounded semiannually? (Use the Table provided.)
Note: Do not round intermediate calculations. Round your answer to the nearest cent.