John Regan, an employee at Home Depot, made deposits of $850 at the end of each year for 6 years. Interest is 6% compounded annually. What is the value of John's annuity at the end of 6 years? (Use Iable 13.1.) (Do not round intermediate calculations. Round your answer to the nearest cent.) John's annuity
John Regan, an employee at Home Depot, made deposits of $850 at the end of each year for 6 years. Interest is 6% compounded annually. What is the value of John's annuity at the end of 6 years? (Use Iable 13.1.) (Do not round intermediate calculations. Round your answer to the nearest cent.) John's annuity
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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Transcribed Image Text:TABLE
13-1
Ordinary annulty table: Compound sum of an annuity of $1
Period 2%
3%
4%
5%
6%
7%
8%
9%
10%
11%
12%
13%
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
2.
2.0200
2.0300
2.0400
2.0500
2.0600
2.0700
2.0800
2.0900
2.1000
2.1100
2.1200
2.1300
3.
3.0604
3.0909
3.1216
3.1525
3.1836
3.2149
3.2464
3.2781
3.3100
3.3421
3.3744
3.4069
4.
4.1216
4.1836
4.2465
4.3101
4.3746
4.4399
4.5061
4.5731
4.6410
4.7097
4.7793
4.8498
5 52040
5.3091
5.4163
5.5256
5.6371
5.7507
5.8666
5.9847
6.1051
6.2278
6.3528
6.4803
9.
6.3081
6.4684
6.6330
6.8019
6.9753
7.1533
7.3359
7.5233
7.7156
7.9129
8.1152
8.3227
7.
7.4343
7.6625
7.8983
8.1420
8.3938
8.6540
8.9228
9.2004
9.4872
9.7833
10.0890
10.4047
8.
8.5829
8.8923
9.2142
9.5491
9.8975
10.2598
10.6366
11.0285
11.4359
11.8594
12.2997
12.7573
6.
9.7546 10.1591
10.5828
11.0265
11.4913 11.9780
12.4876 13.0210
13.5795
14.1640
14.7757
15.4157
10 10.9497 11.4639 12.0061
12.5779
13.1808 13.8164
14.4866
15.1929
15.9374
16.7220
17.5487
20.6546
22.7132 24.1331
18.4197
11 12.1687 12.8078
13.4863
14.2068
14.9716 15.7836
16.6455 17..5603
18.5312
19.5614
218143
12 13.4120 14.1920
15.0258
15.9171
16.8699
17.8884
18.9771
20.1407
21.3843
25.6502
13 14.6803 15.6178 16.6268
17.7129
18.8821 20.1406 21.4953
22.9534
21.0150 22.5505 24.2149 26.0192
24.5227
26 21 16
28.0291
14 15.9739 17.0863
18.2919
19.5986
27.9750
30.0949
32.3926
34.4054 372797
34.8827
15 17.2934 18.5989 20.0236
21.5785
23.2759 25.1290
27.1521
29.3609
31.7725
40.4174
16 18.6392 20.1569 21.8245 23.6574
25.6725
27.8880
30.3243
33.0034
35.9497
39.1899
42.7533
46.67 17
53.7390
17 20.0120 21.7616 23.6975
25.8403
28.2128 30.8402
33.7503
36.9737
40.5447 44.5008
48.8837
18 21.4122 23.4144 25.6454
28.1323
30.9056 33.9990
37.4503
41.3014
45.5992
50.3959
55.7497
61.7251
19 22.8405 25.1169
27.67 12
30.5389
33.7599 37.3789
41.4463
46.0185
51.1591
56.9395
63.4397
70.7494
20 24. 2973 26.8704 29.7781
33.0659
36.7855 40.9954
45.7620
51.1602
57.2750
64.2028
72.0524
98.3471 114.4133 133.3338 155.6194
25 32.0302 36.4593 41.6459 47.7270
80.9468
54.8644 63.2489 73.1060 84.7010
66.4386 79.0580 94.4606 113.2833 136.3077 164.4941 199.0209
40 60 4017 75.4012 95.0254 120.7993 154.7616 199.6346 259.0569 337.8831 442.5928 581.8260 767.0913 1013.7030
50 84.5790 112.7968 152.6669 209.3470 290.3351 406.5277 573.7711 815.0853 1163.9090 1668.7710 2400.0180 3459.50 10
30 40.5679 47.5754 56.0849
241.3327 293.1989
Note: This is only a sampling of tables avalable. The Business Math Handbook shows tables from y% to 15%.
Transcribed Image Text:John Regan, an employee at Home Depot, made deposits of $850 at the end of each year for 6 years. Interest is 6% compounded
annually. What is the value of John's annuity at the end of 6 years? (Use Table 13.1,) (Do not round intermediate calculations. Round
your answer to the nearest cent.)
John's annuity
acer
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