In an attempt to have funds for a down payment, Carmella Carlson plans to save $3,600 a year for the next five years. With an interest rate of 9 percent, what amount will Carmella have available for a down payment after the five years? How do I round time value factor to 3 decimal places and final answer to 2 decimal places? Down payment = ?
In an attempt to have funds for a down payment, Carmella Carlson plans to save $3,600 a year for the next five years. With an interest rate of 9 percent, what amount will Carmella have available for a down payment after the five years? How do I round time value factor to 3 decimal places and final answer to 2 decimal places? Down payment = ?
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
In an attempt to have funds for a down payment, Carmella Carlson plans to save $3,600 a year for the next five years. With an interest rate of 9 percent, what amount will Carmella have available for a down payment after the five years?
How do I round time value factor to 3 decimal places and final answer to 2 decimal places?
Down payment = ?
Transcribed Image Text:Exhibit 1-A Future Value (Compounded Sum) of $1 after a Given Number of Time Periods
9%
Period
1
1%
1.010
7%
1.070
8%
1.080
1.090
10%
1.100
1.210
1.331
2
1.020
1.145
1.166
1.188
3
1.030
1.225
1.260
1.295
4
1.041
1.311
1.360
1.412
1.464
5
1.051
1.403
1.469
1.539
1.611
6
1.062
1.501
1.587
1.677
7
1.072
1.606
1.714
1.828
8
1.083
1.851
1.993
1.718
1.838
9
1.094
1.999
2.172
10
1.105
1.967
2.159
2.367
11
1.116
2.105
2.332
2.580
12
1.127
2.252
2.518
2.813
1.772
1.949
2.144
2.358
2.594
2.853
3.138
3.452
3.797
4.177
4.595
5.054
5.560
6.116
13
1.138
2.410
2.720
3.066
14
1.149
2.579
2.937
3.342
15
1.161
2.759
3.172
3.642
16
1.173
2.952
3.426
3.970
17
1.184
3.159
3.700
4.328
18
1.196
3.380
3.996
4.717
19
1.208
3.617
4.316
5.142
20
1.220
3.870
4.661
5.604
6.727
25
1.282
1.348
5.427 6.848 8.623 10.835
7.612 10.063 13.268 17.449
14.974 21.725 31.409 45.259
29.457 46.902 74.358 117.391
1.489
1.645
30
40
50
Period
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
25
30
40
50
12%
1.120
1.254
1.405
1.574
1.762
1.974
2.211
2.476
2.773
3.106
3.479
3.896
4.363
2%
1.020
1.040
1.061
1.082
1.104
1.126
1.149
Lalalala
1.172
1.195
1.219
1.243
1.268
1.294
1.319
1.346
1.373
1.400
1.428
1.457
1.486
1.641
1.811
2.208
2.692
Holdalalalalala
3%
1.030
1.061
1.093
1.126
1.159
1.194
1.230
1.267
1.305
1.344
1.384
1.426
1.469
1.513
1.558
1.605
1.653
1.702
1.754
1.806
2.094
2.427
3.262
4.384
13%
1.130
1.277
1.443
1.630
1.842
2.082
2.353
2.658
3.004
3.395
3.836
4.335
4.898
4.887
5.535
5.474
6.254
6.130
7.067
6.866
7.986
7.690
9.024
8.613
10.197
9.646
11.523
21.231
17.000
29.960
39.116
132.782
93.051
289.002 450.736
Lokal
M
1.040
1.082
1.125
1.170
1.217
1.265
1.316
1.369
1.423
1.480
1.539
1.601
1.665
1.732
1.801
1.873
1.948
2.026
2.107
2.191
2.666
3.243
4.801
7.107
• S
5%
1.050
1.103
1.158
1.216
1.276
1.340
1.407
1.477
1.551
1.629
1.710
1.796
1.886
1.980
2.079
2.183
2.292
2.407
2.527
2.653
3.386
4.322
7.040
11.467
▬
15%
6%
1.060
1.124
1.191
1.262
1.338
1.419
1.504
1.594
1.689
1.791
1.898
2.012
2.133
2.261
2.397
2.540
2.693
2.854
3.026
3.207
4.292
5.743
10.286
18.420
16%
1.160
1.346
1.561
1.811
2.100
2.436
2.826
3.278
3.803
4.411
5.117
5.936
6.886
7.988
9.266
10.748
12.468
14.463
16.777
19.461
40.874
85.850
378.721
17%
•00
1.170
1.369
1.602
1.874
2.192
2.565
3.001
3.511
4.108
4.807
5.624
6.580
7.699
9.007
10.539
12.330
14.426
16.879
19.748
23.106
50.658
111.065
533.869
18%
1.180
1.392
1.643
1.939
olo
19%
1.190
1.416
1.685
2.005
2.386
2.840
3.379
4.021
4.785
5.695
6.777
8.064
9.596
11.420
13.590
16.172
19.244
14%
1.140
1.150
1.300
1.323
1.482
1.521
1.689
1.749
1.925
2.011
2.288
2.195
2.313
2.700
2.502
2.660
3.185
2.853
3.059
3.759
3.252
3.518
4.435
3.707
4.046
5.234
4.226
4.652
6.176
4.818
5.350
7.288
5.492
6.153
8.599
6.261
7.076
10.147
7.138
8.137
11.974
8.137
9.358
14.129
9.276
10.761
16.672
10.575
12.375
19.673
12.056
14.232
23.214
16.367
27.393
32.919
62.669
13.743
26.462
50.950
188.884
66.212
143.371
2,619.996
267.864
750.378 1,051.668
1,469.772
7,523.164 36,118.865
700.233 1,083.657 1,670.704 2,566.215 3,927.357 5,988.914 9,100.438 70,064.923 497,929.223
-Tum
22.901
27.252
32.429
77.388
184.675
▬▬▬▬▬
11%
1.110
1.232
1.368
1.518
1.685
1.870
2.076
2.305
2.558
2.839
3.152
3.498
3.883
4.310
4.785
5.311
5.895
6.544
7.263
8.062
20%
1.200
1.440
1.728
2.074
2.488
2.986
3.583
4.300
dala
13.585
22.892
65.001
184.565
5.160
6.192
7.430
8.916
10.699
12.839
15.407
18.488
22.186
26.623
31.948
38.338
95.396
237.376
inlin
▬
ala
M
25%
1.250
1.563
1.953
2.441
3.052
3.815
4.768
5.960
7.451
9.313
11.642
14.552
18.190
22.737
28.422
35.527
44.409
55.511
69.389
86.736
264.698
807.794
30%
1.300
1.690
2.197
2.856
3.713
4.827
6.275
8.157
10.604
13.786
17.922
23.298
30.288
39.374
51.186
66.542
86.504
112.455
146.192
190.050
705.641
Transcribed Image Text:Exhibit 1-C Present Value of $1 to Be Received at the End of a Given Number of Time Periods
Period
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
25
30
40
50
Period
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
25
30
40
50
1%
0.990
0.980
0.971
0.961
0.951
0.942
0.933
0.923
0.914
0.905
0.896
0.887
0.879
0.870
0.861
0.853
او اس ام ابادلها
0.844
0.836
0.828
0.820
0.780
0.742
0.672
0.608
اہ اہ اداه
13%
0.885
0.783
0.693
0.613
0.543
0.480
0.425
امامامامام
0.376
0.333
0.295
0.261
0.231
0.204
0.181
0.160
0.141
0.125
بادلہ
اہاہاہاہاہے اماہاہاہا
0.111
0.098
0.087
0.047
0.026
0.008
0.002
2%
0.980
0.961
0.942
0.924
0.906
0.888
0.871
0.853
0.837
0.820
0.804
0.788
0.773
0.758
0.743
0.728
0.714
0.700
0.686
0.673
0.610
0.552
0.453
0.372
▬▬▬
14%
0.877
0.769
0.675
0.592
0.519
0.456
0.400
0.351
0.308
0.270
0.237
0.208
0.182
0.160
0.140
0.123
0.108
0.095
0.083
0.073
0.038
0.020
0.005
0.001
3%
0.971
0.943
0.915
0.888
0.863
0.837
0.813
0.789
0.766
0.744
0.722
0.701
0.681
0.661
0.642
0.623
0.605
0.587
0.570
0.554
0.478
0.412
0.307
0.228
15%
0.870
0.756
0.658
0.572
0.497
0.432
0.376
0.327
0.284
0.247
0.215
0.187
0.163
0.141
0.123
0.107
0.093
0.081
0.070
0.061
0.030
0.015
0.004
0.001
4%
0.962
0.925
0.889
0.855
0.822
0.790
0.760
0.731
0.703
0.676
0.650
0.625
0.601
0.577
0.555
0.534
0.513
0.494
0.475
0.456
0.375
0.308
0.208
0.141
16%
0.862
0.743
0.641
0.552
0.476
0.410
0.354
0.305
0.263
0.227
0.195
0.168
0.145
0.125
0.108
0.093
0.080
0.069
0.060
0.051
0.024
0.012
0.003
0.001
-
5%
0.952
0.907
0.864
0.823
0.784
0.746
0.711
0.677
0.645
0.614
0.585
0.557
0.530
0.505
0.481
0.458
0.436
0.416
0.396
0.377
0.295
0.231
0.142
0.087
17%
0.855
0.731
0.624
0.534
0.456
0.390
0.333
0.285
0.243
0.208
0.178
0.152
0.130
0.111
0.095
0.081
0.069
0.059
0.051
0.043
0.020
0.009
0.002
الواه
0
6%
0.943
0.890
0.840
0.792
0.747
0.705
0.665
0.627
0.592
0.558
0.527
0.497
0.469
0.442
0.417
0.394
0.371
0.350
0.331
0.312
0.233
0.174
0.097
0.054
LLLL
----
18%
0.847
0.718
0.609
0.516
0.437
0.370
0.314
0.266
0.225
0.191
0.162
0.137
0.116
0.099
0.084
0.071
0.060
0.051
0.043
0.037
0.016
0.007
0.001
0
-
...
--لاااا
7%
0.935
0.873
0.816
0.763
0.713
0.666
0.623
0.582
0.544
0.508
0.475
0.444
0.415
0.388
0.362
0.339
0.317
0.296
0.277
0.258
0.184
0.131
0.067
0.034
19%
0.840
0.706
0.593
0.499
0.419
0.352
0.296
0.249
0.209
0.176
0.148
0.124
0.104
0.088
0.074
0.062
0.052
0.044
0.037
0.031
0.013
0.005
0.001
0
8%
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
0.429
0.397
0.368
0.340
0.315
0.292
0.270
0.250
0.232
0.215
0.146
0.099
0.046
0.021
20%
0.833
0.694
0.579
0.482
0.402
0.335
0.279
0.233
0.194
0.162
0.135
0.112
0.093
0.078
0.065
0.054
0.045
0.038
0.031
0.026
0.010
0.004
0.001
0
9%
0.917
0.842
0.772
0.708
0.650
0.596
0.547
0.502
0.460
0.422
0.388
0.356
0.326
0.299
0.275
0.252
0.231
0.212
0.194
0.178
0.116
0.075
0.032
0.013
25%
0.800
0.640
0.512
0.410
0.328
0.262
0.210
0.168
0.134
0.107
0.086
0.069
0.055
ه
0.044
0.035
0.028
0.023
0.018
0.014
0.012
0.004
0.001
م
اه
0
10%
0.909
0.826
0.751
0.683
0.621
0.564
0.513
0.467
0.424
0.386
0.350
0.319
0.290
0.263
0.239
0.218
0.198
0.180
0.164
0.149
0.092
0.057
0.022
0.009
30%
0.769
0.592
0.455
0.350
0.269
0.207
0.159
0.123
0.094
0.073
0.056
0.043
0.033
0.025
0.020
0.015
0.012
0.009
0.007
0.005
0.001
▬▬▬▬▬▬▬▬
0
0
0
11%
0.901
0.812
0.731
0.659
0.593
0.535
0.482
0.434
0.391
0.352
0.317
0.286
0.258
0.232
0.209
0.188
0.170
0.153
0.138
0.124
0.074
0.044
0.015
0.005
35%
0.741
0.549
0.406
0.301
0.223
0.165
0.122
0.091
0.067
0.050
0.037
0.027
0.020
0.015
0.011
0.008
0.006
0.005
0.003
هاهااام
0.002
0.001
0
0
12%
0.893
0.797
0.712
0.636
0.567
0.507
0.452
0.404
0.361
0.322
0.287
0.257
0.229
0.205
0.183
0.163
0.146
0.130
0.116
0.104
▬▬▬
0.059
0.033
0.011
0.003
40%
0.714
0.510
0.364
0.260
0.186
0.133
0.095
0.068
0.048
0.035
0.025
0.018
0.013
0.009
0.006
0.005
0.003
0.002
0.002
0.001
--
0
0
0
0
50%
0.667
0.444
0.296
0.198
0.132
0.088
0.059
0.039
0.026
0.017
0.012
0.008
0.005
0.003
0.002
0.002
0.001
0.001
0
0
0
0
0
0
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