Pat Lechleiter pays an ordinary annuity of ​$2,900 quarterly at 10​% annual interest compounded quarterly to establish supplemental income for retirement. How much will Pat have available at the end of five years?(Round to the nearest cent as​ needed.) Future Value of $1.00 Ordinary Annuity Rate per period Periods ​0.25% ​0.50% ​0.75% ​1.00% ​1.50% ​2.00% ​2.50% ​3.00% ​3.50% ​4.00% 1 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2 2.002 2.005 2.008 2.010 2.015 2.020 2.025 2.030 2.035 2.040 3 3.008 3.015 3.023 3.030 3.045 3.060 3.076 3.091 3.106 3.122 4 4.015 4.030 4.045 4.060 4.091 4.122 4.153 4.184 4.215 4.246 5 5.025 5.050 5.076 5.101 5.152 5.204 5.256 5.309 5.362 5.416 6 6.038 6.076 6.114 6.152 6.230 6.308 6.388 6.468 6.55 6.633 7 7.053 7.106 7.159 7.214 7.323 7.434 7.547 7.662 7.779 7.898 8 8.070 8.141 8.213 8.286 8.433 8.583 8.736 8.892 9.052 9.214 9 9.091 9.182 9.275 9.369 9.559 9.755 9.955 10.159 10.368 10.583 10 10.113 10.228 10.344 10.462 10.703 10.950 11.203 11.464 11.731 12.006 11 11.139 11.279 11.422 11.567 11.863 12.169 12.483 12.808 13.142 13.486 12 12.166 12.336 12.508 12.683 13.041 13.412 13.796 14.192 14.602 15.026 13 13.197 13.397 13.601 13.809 14.237 14.680 15.140 15.618 16.113 16.627 14 14.230 14.464 14.703 14.947 15.450 15.974 16.519 17.086 17.677 18.292 15 15.265 15.537 15.814 16.097 16.682 17.293 17.932 18.599 19.296 20.024 16 16.304 16.614 16.932 17.258 17.932 18.639 19.380 20.157 20.971 21.825 17 17.344 17.697 18.059 18.430 19.201 20.012 20.865 21.762 22.705 23.698 18 18.388 18.786 19.195 19.615 20.489 21.412 22.386 23.414 24.500 25.645 19 19.434 19.880 20.339 20.811 21.797 22.841 23.946 25.117 26.357 27.671 20 20.482 20.979 21.491 22.019 23.124 24.297 25.545 26.870 28.280 29.778 21 21.533 22.084 22.652 23.239 24.471 25.783 27.183 28.676 30.269 31.969 22 22.587 23.194 23.822 24.472 25.838 27.299 28.863 30.537 32.329 34.248 23 23.644 24.310 25.001 25.716 27.225 28.845 30.584 32.453 34.460 36.618 24 24.703 25.432 26.188 26.973 28.634 30.422 32.349 34.426 36.667 39.083 25 25.765 26.559 27.385 28.243 30.063 32.03 34.158 36.459 38.950 41.646 26 26.829 27.692 28.590 29.526 31.514 33.671 36.012 38.553 41.313 44.312 27 27.896 28.830 29.805 30.821 32.987 35.344 37.912 40.710 43.759 47.084 28 28.966 29.975 31.028 32.129 34.481 37.051 39.860 42.931 46.291 49.968 29 30.038 31.124 32.261 33.450 35.999 38.792 41.856 45.219 48.911 52.966 30 31.113 32.280 33.503 34.785 37.539 40.568 43.903 47.575 51.623 56.085 35 36.529 38.145 39.854 41.66 45.592 49.994 54.928 60.462 66.674 73.652 40 42.013 44.159 46.446 48.886 54.268 60.402 67.403 75.401 84.550 95.026 45 47.566 50.324 53.290 56.481 63.614 71.893 81.516 92.720 105.782 121.029 50 53.189 56.645 60.394 64.463 73.683 84.579 97.484 112.797 130.998 152.667

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
icon
Related questions
Question

Pat Lechleiter pays an ordinary annuity of ​$2,900 quarterly at 10​% annual interest compounded quarterly to establish supplemental income for retirement. How much will Pat have available at the end of five years?(Round to the nearest cent as​ needed.)

Future Value of $1.00 Ordinary Annuity
Rate per period
Periods
​0.25%
​0.50%
​0.75%
​1.00%
​1.50%
​2.00%
​2.50%
​3.00%
​3.50%
​4.00%
1
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
1.000
2
2.002
2.005
2.008
2.010
2.015
2.020
2.025
2.030
2.035
2.040
3
3.008
3.015
3.023
3.030
3.045
3.060
3.076
3.091
3.106
3.122
4
4.015
4.030
4.045
4.060
4.091
4.122
4.153
4.184
4.215
4.246
5
5.025
5.050
5.076
5.101
5.152
5.204
5.256
5.309
5.362
5.416
6
6.038
6.076
6.114
6.152
6.230
6.308
6.388
6.468
6.55
6.633
7
7.053
7.106
7.159
7.214
7.323
7.434
7.547
7.662
7.779
7.898
8
8.070
8.141
8.213
8.286
8.433
8.583
8.736
8.892
9.052
9.214
9
9.091
9.182
9.275
9.369
9.559
9.755
9.955
10.159
10.368
10.583
10
10.113
10.228
10.344
10.462
10.703
10.950
11.203
11.464
11.731
12.006
11
11.139
11.279
11.422
11.567
11.863
12.169
12.483
12.808
13.142
13.486
12
12.166
12.336
12.508
12.683
13.041
13.412
13.796
14.192
14.602
15.026
13
13.197
13.397
13.601
13.809
14.237
14.680
15.140
15.618
16.113
16.627
14
14.230
14.464
14.703
14.947
15.450
15.974
16.519
17.086
17.677
18.292
15
15.265
15.537
15.814
16.097
16.682
17.293
17.932
18.599
19.296
20.024
16
16.304
16.614
16.932
17.258
17.932
18.639
19.380
20.157
20.971
21.825
17
17.344
17.697
18.059
18.430
19.201
20.012
20.865
21.762
22.705
23.698
18
18.388
18.786
19.195
19.615
20.489
21.412
22.386
23.414
24.500
25.645
19
19.434
19.880
20.339
20.811
21.797
22.841
23.946
25.117
26.357
27.671
20
20.482
20.979
21.491
22.019
23.124
24.297
25.545
26.870
28.280
29.778
21
21.533
22.084
22.652
23.239
24.471
25.783
27.183
28.676
30.269
31.969
22
22.587
23.194
23.822
24.472
25.838
27.299
28.863
30.537
32.329
34.248
23
23.644
24.310
25.001
25.716
27.225
28.845
30.584
32.453
34.460
36.618
24
24.703
25.432
26.188
26.973
28.634
30.422
32.349
34.426
36.667
39.083
25
25.765
26.559
27.385
28.243
30.063
32.03
34.158
36.459
38.950
41.646
26
26.829
27.692
28.590
29.526
31.514
33.671
36.012
38.553
41.313
44.312
27
27.896
28.830
29.805
30.821
32.987
35.344
37.912
40.710
43.759
47.084
28
28.966
29.975
31.028
32.129
34.481
37.051
39.860
42.931
46.291
49.968
29
30.038
31.124
32.261
33.450
35.999
38.792
41.856
45.219
48.911
52.966
30
31.113
32.280
33.503
34.785
37.539
40.568
43.903
47.575
51.623
56.085
35
36.529
38.145
39.854
41.66
45.592
49.994
54.928
60.462
66.674
73.652
40
42.013
44.159
46.446
48.886
54.268
60.402
67.403
75.401
84.550
95.026
45
47.566
50.324
53.290
56.481
63.614
71.893
81.516
92.720
105.782
121.029
50
53.189
56.645
60.394
64.463
73.683
84.579
97.484
112.797
130.998
152.667

 

Expert Solution
Step 1

Calculate the rate per period and number of periods. Use these values to obtain the decimal from the given table.

steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,