Leon and Heidi decided to invest $3,250 annually for only the first seven years of their marriage. The first payment was made at age 25. If theannual interest rate is 9%, how much accumulated interest and principal will they have at age 65?Click the icon to view the interest and annuity table for discrete compounding when i = 9% per year.The accumulated interest and principal will equal $N123456789101112131415161718192021222324253035404550(Round to the nearest dollar.)Single PaymentCompoundAmountFactorTo Find FGiven PF/P1.09001.18811.29501.41161.53861.67711.82801.99262.17192.36742.58042.81273.06583.34173.6425Discrete Compounding; i = 9%3.97034.32764.71715.14175.60446.10886.65867.25797.91118.623113.267720.414031.409448.327374.3575PresentWorth FactorTo Find PGiven FP/F0.91740.84170.77220.70840.64990.59630.54700.50190.46040.42240.38750.35550.32620.29920.27450.25190.23110.21200.19450.17840.16370.15020.13780.12640.11600.07540.04900.03180.02070.0134CompoundAmountFactorTo Find FGiven AF/A1.00002.09003.27814.57315.98477.52339.200411.028513.021015.192917.560320.140722.953426.019229.360933.003436.973741.301346.018551.160156.764562.873369.531976.789884.7009Uniform SeriesPresentWorth FactorTo Find PGiven AP/A0.91741.75912.53133.23973.88974.48595.03305.53485.99526.41776.80527.16077.48697.78628.06078.31268.54368.75568.95019.12859.29229.44249.58029.70669.8226136.307510.273710.566810.7574215.7108337.8824525.8587 10.8812815.0836 10.9617SinkingFundFactorTo Find AGiven FA/F1.00000.47850.30510.21870.16710.13290.10870.09070.07680.06580.05690.04970.04360.03840.03410.03030.02700.02420.02170.01950.01760.01590.01440.01300.01180.00730.00460.00300.00190.0012CapitalRecoveryFactorTo Find AGiven PA/P1.09000.56850.39510.30870.25710.22290.19870.18070.16680.15580.14690.13970.13360.12840.12410.12030.11700.11420.11170.10950.10760.10590.10440.10300.10180.09730.09460.09300.09190.0912

Annual Investment = 3250 This was made for 7 years & first payment was made at age of…

Leon and Heidi decided to invest $3,250 annually for only the first seven years of their marriage. The first payment was made at age 25. If the annual interest rate is 9%, how much accumulated interest and principal will they have at age 65? Click the icon to view the interest and annuity table for discrete compounding when i = 9% per year.

Leon and Heidi decided to invest $3,250 annually for only the first seven years of their marriage. The first payment was made at age 25. If the annual interest rate is 9%, how much accumulated interest and principal will they have at age 65? Click the icon to view the interest and annuity table for discrete compounding when i = 9% per year.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Leon and Heidi decided to invest $3,250 annually for only the first seven years of their marriage. The first payment was made at age 25. If the
annual interest rate is 9%, how much accumulated interest and principal will they have at age 65?
Click the icon to view the interest and annuity table for discrete compounding when i = 9% per year.
The accumulated interest and principal will equal $
N
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
30
35
40
45
50
(Round to the nearest dollar.)
Single Payment
Compound
Amount
Factor
To Find F
Given P
F/P
1.0900
1.1881
1.2950
1.4116
1.5386
1.6771
1.8280
1.9926
2.1719
2.3674
2.5804
2.8127
3.0658
3.3417
3.6425
Discrete Compounding; i = 9%
3.9703
4.3276
4.7171
5.1417
5.6044
6.1088
6.6586
7.2579
7.9111
8.6231
13.2677
20.4140
31.4094
48.3273
74.3575
Present
Worth Factor
To Find P
Given F
P/F
0.9174
0.8417
0.7722
0.7084
0.6499
0.5963
0.5470
0.5019
0.4604
0.4224
0.3875
0.3555
0.3262
0.2992
0.2745
0.2519
0.2311
0.2120
0.1945
0.1784
0.1637
0.1502
0.1378
0.1264
0.1160
0.0754
0.0490
0.0318
0.0207
0.0134
Compound
Amount
Factor
To Find F
Given A
F/A
1.0000
2.0900
3.2781
4.5731
5.9847
7.5233
9.2004
11.0285
13.0210
15.1929
17.5603
20.1407
22.9534
26.0192
29.3609
33.0034
36.9737
41.3013
46.0185
51.1601
56.7645
62.8733
69.5319
76.7898
84.7009
Uniform Series
Present
Worth Factor
To Find P
Given A
P/A
0.9174
1.7591
2.5313
3.2397
3.8897
4.4859
5.0330
5.5348
5.9952
6.4177
6.8052
7.1607
7.4869
7.7862
8.0607
8.3126
8.5436
8.7556
8.9501
9.1285
9.2922
9.4424
9.5802
9.7066
9.8226
136.3075
10.2737
10.5668
10.7574
215.7108
337.8824
525.8587 10.8812
815.0836 10.9617
Sinking
Fund
Factor
To Find A
Given F
A/F
1.0000
0.4785
0.3051
0.2187
0.1671
0.1329
0.1087
0.0907
0.0768
0.0658
0.0569
0.0497
0.0436
0.0384
0.0341
0.0303
0.0270
0.0242
0.0217
0.0195
0.0176
0.0159
0.0144
0.0130
0.0118
0.0073
0.0046
0.0030
0.0019
0.0012
Capital
Recovery
Factor
To Find A
Given P
A/P
1.0900
0.5685
0.3951
0.3087
0.2571
0.2229
0.1987
0.1807
0.1668
0.1558
0.1469
0.1397
0.1336
0.1284
0.1241
0.1203
0.1170
0.1142
0.1117
0.1095
0.1076
0.1059
0.1044
0.1030
0.1018
0.0973
0.0946
0.0930
0.0919
0.0912

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