Homework Help is Here – Start Your Trial Now!
Business
Accounting
The following investment requires table factors for periods beyond the table. Using Table 11-1, create the new table factor, rounded to five places, and calculate the compound amount (in $, rounded to the nearest cent.) Principal Time Period (years) Nominal Rate (%) Interest Compounded New Table Factor Compound Amount $17,000 29 6 annually   $

The following investment requires table factors for periods beyond the table. Using Table 11-1, create the new table factor, rounded to five places, and calculate the compound amount (in $, rounded to the nearest cent.) Principal Time Period (years) Nominal Rate (%) Interest Compounded New Table Factor Compound Amount $17,000 29 6 annually   $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
The following investment requires table factors for periods beyond the table. Using Table 11-1, create the new table factor, rounded to five places, and calculate the compound amount (in $, rounded to the nearest cent.)
Principal Time
Period (years)		 Nominal
Rate (%)		 Interest
Compounded		 New Table
Factor		 Compound
Amount
$17,000 29 6 annually   $
TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest) Periods 1% 2% 3% 4% 5% 6% 7% 8% Periods 1.00500 101000 1.01500 1.02000 1.03000 1.04000 1.0S000 1.06000 1.07000 1.08000 2 1.0 1003 102010 1.03023 1.04040 1.06090 1.08 160 1.10250 1.12360 1. 14490 1. 16640 2 3 1.01508 103030 1.04568 1.06121 1.09273 1.12486 1.15763 1.19102 1.22504 1.25971 3 1. 12551 1. 15927 1.02015 1.04060 1.06136 1.08243 1.16986 121551 1.26248 1.31080 1.36049 4 1.02525 1.05 101 1.077 28 1.10408 1.21665 1.27628 1.33823 1.40255 1.46933 1. 19405 1340 10 1.407 10 1.03038 1.06 152 109344 1.12616 1.26532 1.41852 1.50073 1.58687 1.03553 107214 1.10984 1.14869 1.22987 1.31593 1.50363 1.60578 1.71.382 1.0071 1.08286 1.12649 1.17166 1.26677 1.36857 1.47746 1.59385 1.71819 1.85093 104591 1.09369 1.14339 1.19509 1.30477 1.42331 1.55133 1.68948 1.83846 1.99900 10 1.05114 1.10462 1.16054 1.21899 1.34392 1.48024 1.62889 1.79085 1.96715 2.15892 10 11 1.05640 1.11567 1.17795 1.24337 1.38423 1.53945 1.7 1034 1.89830 2. 10485 2.33 164 11 12 1.06168 1.12683 1.19562 1.26824 1.42576 1.60103 1.79586 2.01220 2.25219 2.51817 12 13 1.06699 1.13809 1.21355 1.29361 1.46853 1.66507 1.88565 2.13293 2.40985 2.71962 13 14 1.07232 1.14947 1.23176 131948 1.51259 1.73168 1.97993 2.26090 2.57853 2.93719 14 15 1.07768 1.16097 1.25023 1.34587 1.55797 1.80094 2.07893 2.39656 2.75903 3. 17217 15 16 1.08307 1.17258 1.26899 1.37279 1.60471 1.87298 2.18287 254035 2.95216 3.42594 16 1.18430 1.28802 1.40024 1.65 285 1.94790 2.29202 2.69277 3. 15882 3. 70O02 17 1.08849 17 18 1.09393 1.19615 1.30734 1.42825 1. 70243 2.02582 2.40662 2.85434 3.37993 3.99602 18 19 1.09940 1.20811 1.32695 1.4568I 1.7535 I 2.10685 252695 3.02560 3.61653 4.31570 19 20 1.10490 1.22019 1.346 86 1.48595 1.80611 2.19112 2.65330 3.20714 3.86968 4.66096 20 1.1 1042 1.36706 1.38756 21 1.23239 151567 1.86029 2.27877 2.78596 3.39956 4. 14056 5.03 383 21 22 1.11597 1.24472 1.54598 1.91610 2.36992 292526 3.60354 4.43040 5.43654 22 23 1.12155 1.25716 1.40838 157690 1.97359 2.46472 3.07152 3.81975 4.74053 5.87 146 23 24 1.12716 1.26973 1.42950 1.60844 2.03279 2.56330 3.225 10 4.04893 5.07237 6.34118 24 25 1.13280 1.28243 1.45095 1.64061 2.09378 2.66584 3.38635 4.29187 5.42743 6.84848 25 Periods 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% Periods 1 1.12000 1. 17000 1. 13000 1.27690 1.09000 1.10000 1.11000 1.14000 1.15000 1.16000 1. 18000 1 2 1.18810 121000 1.232 10 1.25440 1.29960 1.32250 1.34560 1.36890 1.39240 2 1.29503 1.33 100 1.36763 1.40493 1.44290 1.48154 1.52088 1.56090 1.60 161 1.64303 3. 1.41158 146410 1.51807 157352 1.63047 1.68896 1.74901 1.81064 1.87 389 1.93878 5 1.53862 1.61051 1.68506 1.76234 1.84244 1.92541 2.01136 2.10034 2. 19245 2.28776 5 6. 1.67710 1.77 156 1.87041 1.97382 2.08 195 2.19497 2.31306 2.43640 2.56516 2.69955 1.82804 1.94872 2.176 16 2.21068 2.35 261 2.50227 2.66002 2.82622 3.00124 3. 18547 1.99256 2.14359 2.30454 2.47596 2.65844 2.85259 3.05902 3.27841 3.51 145 3.75 886 2.17189 2.35795 2.55804 2.77308 3.0004 3.25195 3.51788 3.80296 4. 10840 4.43545 10 2.36736 259374 2.83942 3.10585 3.9457 3.70722 4.045 56 4.41144 4.80683 5.23384 10 11 2.58043 2.85312 3.15176 3.47855 3.83586 4.22623 4.65239 5.11726 5.62.399 6. 17593 11 12 2.81266 3.13843 3.49845 3.89598 4.33452 4.81790 5.35025 5.93603 6.58007 7.28759 12 13 3.06580 345227 3.883 28 4.36349 4.89 801 5.49241 6.15279 6.88579 7.69 868 8.99936 13 14 3.34173 3.79750 4.31044 4.88711 5.53475 6.26135 7.07571 7.98752 9.00745 10. 14724 14 15 3.64248 4.17725 4.78459 5.47357 6.25427 7.13794 8.13706 9.26552 10.53872 11.97375 15 16 3.97031 4.59497 5.31089 6.13039 7.06733 8.13725 9.35762 10.74800 12.33030 14. 12902 16 17 4.32763 5.05447 5.89509 6.86604 7.98608 9.27646 10.761 26 12.46768 14.42646 16.67225 17 18 4.71712 5.55992 6.54355 7.68997 9.02427 10.57517 12.37545 14.46251 16.87895 19.67325 18 19 5.14166 6.11591 7.26334 8.61276 10. 19742 12.05569 14.23177 16.77652 19.74838 23.21444 19 20 5.60441 6.72750 8.06231 9.64629 11.52309 13.74349 16.36654 19.46076 23. 10560 27.39 303 20 21 6.10881 7.40025 8.94917 10.80385 13.02 109 15.66758 18.82152 22.57448 27.03355 32.32378 21 22 6.65860 8.14027 9.93357 12.10031 14.71383 17.86104 21.64475 26.18640 31.62925 38. 14206 22 23 7.25787 8.95430 11.02627 13.55235 16.62663 20.36158 24.89146 30.37622 37.00623 45.00763 23 24 791108 9.84973 12.239 16 15.17863 18.78809 23.21221 28.625 18 35.23642 43.29729 53. 10901 24 10.83471 13.58546 17.00006 21.23054 32.9 1895 40.87424 50.65 783 62.66 M3 25 8.62308 26.46192 25 The values in Table 11-1 were generated by the formula FV = (1+ i)" rounded to five decimal places, where i is the interest rate per period and n is the total number of periods.
Transcribed Image Text:TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest) Periods 1% 2% 3% 4% 5% 6% 7% 8% Periods 1.00500 101000 1.01500 1.02000 1.03000 1.04000 1.0S000 1.06000 1.07000 1.08000 2 1.0 1003 102010 1.03023 1.04040 1.06090 1.08 160 1.10250 1.12360 1. 14490 1. 16640 2 3 1.01508 103030 1.04568 1.06121 1.09273 1.12486 1.15763 1.19102 1.22504 1.25971 3 1. 12551 1. 15927 1.02015 1.04060 1.06136 1.08243 1.16986 121551 1.26248 1.31080 1.36049 4 1.02525 1.05 101 1.077 28 1.10408 1.21665 1.27628 1.33823 1.40255 1.46933 1. 19405 1340 10 1.407 10 1.03038 1.06 152 109344 1.12616 1.26532 1.41852 1.50073 1.58687 1.03553 107214 1.10984 1.14869 1.22987 1.31593 1.50363 1.60578 1.71.382 1.0071 1.08286 1.12649 1.17166 1.26677 1.36857 1.47746 1.59385 1.71819 1.85093 104591 1.09369 1.14339 1.19509 1.30477 1.42331 1.55133 1.68948 1.83846 1.99900 10 1.05114 1.10462 1.16054 1.21899 1.34392 1.48024 1.62889 1.79085 1.96715 2.15892 10 11 1.05640 1.11567 1.17795 1.24337 1.38423 1.53945 1.7 1034 1.89830 2. 10485 2.33 164 11 12 1.06168 1.12683 1.19562 1.26824 1.42576 1.60103 1.79586 2.01220 2.25219 2.51817 12 13 1.06699 1.13809 1.21355 1.29361 1.46853 1.66507 1.88565 2.13293 2.40985 2.71962 13 14 1.07232 1.14947 1.23176 131948 1.51259 1.73168 1.97993 2.26090 2.57853 2.93719 14 15 1.07768 1.16097 1.25023 1.34587 1.55797 1.80094 2.07893 2.39656 2.75903 3. 17217 15 16 1.08307 1.17258 1.26899 1.37279 1.60471 1.87298 2.18287 254035 2.95216 3.42594 16 1.18430 1.28802 1.40024 1.65 285 1.94790 2.29202 2.69277 3. 15882 3. 70O02 17 1.08849 17 18 1.09393 1.19615 1.30734 1.42825 1. 70243 2.02582 2.40662 2.85434 3.37993 3.99602 18 19 1.09940 1.20811 1.32695 1.4568I 1.7535 I 2.10685 252695 3.02560 3.61653 4.31570 19 20 1.10490 1.22019 1.346 86 1.48595 1.80611 2.19112 2.65330 3.20714 3.86968 4.66096 20 1.1 1042 1.36706 1.38756 21 1.23239 151567 1.86029 2.27877 2.78596 3.39956 4. 14056 5.03 383 21 22 1.11597 1.24472 1.54598 1.91610 2.36992 292526 3.60354 4.43040 5.43654 22 23 1.12155 1.25716 1.40838 157690 1.97359 2.46472 3.07152 3.81975 4.74053 5.87 146 23 24 1.12716 1.26973 1.42950 1.60844 2.03279 2.56330 3.225 10 4.04893 5.07237 6.34118 24 25 1.13280 1.28243 1.45095 1.64061 2.09378 2.66584 3.38635 4.29187 5.42743 6.84848 25 Periods 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% Periods 1 1.12000 1. 17000 1. 13000 1.27690 1.09000 1.10000 1.11000 1.14000 1.15000 1.16000 1. 18000 1 2 1.18810 121000 1.232 10 1.25440 1.29960 1.32250 1.34560 1.36890 1.39240 2 1.29503 1.33 100 1.36763 1.40493 1.44290 1.48154 1.52088 1.56090 1.60 161 1.64303 3. 1.41158 146410 1.51807 157352 1.63047 1.68896 1.74901 1.81064 1.87 389 1.93878 5 1.53862 1.61051 1.68506 1.76234 1.84244 1.92541 2.01136 2.10034 2. 19245 2.28776 5 6. 1.67710 1.77 156 1.87041 1.97382 2.08 195 2.19497 2.31306 2.43640 2.56516 2.69955 1.82804 1.94872 2.176 16 2.21068 2.35 261 2.50227 2.66002 2.82622 3.00124 3. 18547 1.99256 2.14359 2.30454 2.47596 2.65844 2.85259 3.05902 3.27841 3.51 145 3.75 886 2.17189 2.35795 2.55804 2.77308 3.0004 3.25195 3.51788 3.80296 4. 10840 4.43545 10 2.36736 259374 2.83942 3.10585 3.9457 3.70722 4.045 56 4.41144 4.80683 5.23384 10 11 2.58043 2.85312 3.15176 3.47855 3.83586 4.22623 4.65239 5.11726 5.62.399 6. 17593 11 12 2.81266 3.13843 3.49845 3.89598 4.33452 4.81790 5.35025 5.93603 6.58007 7.28759 12 13 3.06580 345227 3.883 28 4.36349 4.89 801 5.49241 6.15279 6.88579 7.69 868 8.99936 13 14 3.34173 3.79750 4.31044 4.88711 5.53475 6.26135 7.07571 7.98752 9.00745 10. 14724 14 15 3.64248 4.17725 4.78459 5.47357 6.25427 7.13794 8.13706 9.26552 10.53872 11.97375 15 16 3.97031 4.59497 5.31089 6.13039 7.06733 8.13725 9.35762 10.74800 12.33030 14. 12902 16 17 4.32763 5.05447 5.89509 6.86604 7.98608 9.27646 10.761 26 12.46768 14.42646 16.67225 17 18 4.71712 5.55992 6.54355 7.68997 9.02427 10.57517 12.37545 14.46251 16.87895 19.67325 18 19 5.14166 6.11591 7.26334 8.61276 10. 19742 12.05569 14.23177 16.77652 19.74838 23.21444 19 20 5.60441 6.72750 8.06231 9.64629 11.52309 13.74349 16.36654 19.46076 23. 10560 27.39 303 20 21 6.10881 7.40025 8.94917 10.80385 13.02 109 15.66758 18.82152 22.57448 27.03355 32.32378 21 22 6.65860 8.14027 9.93357 12.10031 14.71383 17.86104 21.64475 26.18640 31.62925 38. 14206 22 23 7.25787 8.95430 11.02627 13.55235 16.62663 20.36158 24.89146 30.37622 37.00623 45.00763 23 24 791108 9.84973 12.239 16 15.17863 18.78809 23.21221 28.625 18 35.23642 43.29729 53. 10901 24 10.83471 13.58546 17.00006 21.23054 32.9 1895 40.87424 50.65 783 62.66 M3 25 8.62308 26.46192 25 The values in Table 11-1 were generated by the formula FV = (1+ i)" rounded to five decimal places, where i is the interest rate per period and n is the total number of periods.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Present Value
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS