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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Question
Transcribed Image Text:Use the table to calculate the amount of money that must be invested now at 16% annually, compounded quarterly, to obtain $1,400 in three years.
Click the icon to view the $1 present value table.
How much money must be invested at 16% annually, compounded quarterly, to obtain S1,400 in three years?
2$
(Round to the nearest cent as needed.)
Transcribed Image Text:Rate per period
Periods
4%
5%
6%
8%
10%
12%
0.5%
0.99502 0.99010 0.98522 0.98039 0.97561 0.97087 0.96154 0.95238 0.94340 0.92593 0.90909 0.89286
0.99007 0.98030 0.97066 0.96117 0.95181 0.94260 0.92456 0.90703 0.89000 0.85734 0.82645 0.79719
0.98515 0.97059 0.95632 0.94232 0.92860 0.91514 0.88900 0.86384 0.83962 0.79383 0.75131 0.71178
0.98025 0.96098 0.94218 0.92385 0,90595 0.88849 0.85480 0.82270 0.79209 0.73503 0.68301 0.63552
0.97537 0.95147 0.92826 0.90573 0.88385 0.86261 0.82193 0.78353 0.74726 0.68058 0.62092 0.56743
0.97052 0.94205 0.91454 0.88797 0.86230 0.83748 0.79031 0.74622 0.70496 0.63017 0.56447 0.50663
0.96569 0.93272 0.90103 0.87056 0.84127 0.81309 0.75992 0.71068 0.66506 0.58349 0.51316 0.45235
0.96089 0.92348 0.88771 0.85349 0.82075 0.78941 0.73069 0.67684 0.62741 0.54027 0.46651 0.40388
0.95610 0.91434 0.87459 0.83676 0,80073 0.76642 0.70259 0.64461 0.59190 0.50025 0.42410 0.36061
0.95135 0.90529 0.86167 0.82035 0.78120 0.74409 0.67556 0.61391 0.55839 0.46319 0.38554 0.32197
0.94661 0.89632 0.84893 0.80426 0.76214 0.72242 0.64958 0.58468 0.52679 0.42888 0.35049 0.28748
0.94191 0.88745 0.83639 0.78849 0.74356 0.70138 0.62460 0.55684 0.49697 0.39711 0.31863 0.25668
0.93722 0.87866 0.82403 0.77303 0.72542 0.68095 0.60057 0.53032 0.46884 0.36770 0.28966 0.22917
0.93256 0.86996 0.81185 0.75788 0.70773 0.66112 0.57748 0.50507 0.44230 0.34046 0.26333 0.20462
0.92792 0.86135 0.79985 0.74301 0.69047 0.64186 0.55526 0.48102 0.41727 0.31524 0.23939 0.18270
0.92330 0.85282 0.78803 0.72845 0.67362 0.62317 0.53391 0.45811 0.39365 0.29189 0.21763 0.16312
1%
1.5%
2%
2.5%
3%
1
2
3
4.
6.
7
8
10
11
12
13
14
15
16
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