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 $17,000 Time Period (years) 29 Nominal Rate (%) 6 Interest Compounded annually New Table Factor $ Compound Amount
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 $17,000 Time Period (years) 29 Nominal Rate (%) 6 Interest Compounded annually New Table Factor $ Compound Amount
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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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
9
10
11
12
13
14
15
DIBDG FE
16
17
18
19
20
21
22
23
24
25
6
7
8
9
10
11
12
13
14
15
16
17
%
2
1.00500
1.01003
1.01508
1.02015 1.04060
1.02525
Periods 9%
1
1.09000
2
1.18810
3
1.29503
4
1.41158
5
1.53862
11/%
1.01500
1.03023
1.04568
1.08243
1.06136
1.05101 1.07728 1.10408
1.06152
1.03038
1.03553 1.07214
1.04071 1.08286
1.04591
1.09369
1.05114
1.10462
1.08307
1.08849
1.09393
1.09940
1.10490
1%
1.01000
1.02010
1.03030
1.05640 1.11567
1.06168
1.12683
1.06699 1.13809
1.07232
1.14947
1.07768
1.16097
1.11042
1.11597
1.12155
1.12716
1.13280
1.17258
1.18430
1.19615
1.20811
1.22019
1.23239
1.24472
1.25716
1.26973
1.28243
1.09344
1.10984
1.12649
1.14339
1.16054
1.17795
1.19562
1.21355
1.23176
1.25023
1.26899
1.28802
1.30734
1.32695
1.34686
10%
11%
1.10000
1.11000
1.21000
1.23210
1.33100
1.36763
1.46410 1.51807
1.61051
1.68506
2%
1.02000
1.04040
1.06121
2.58043 2.85312
2.81266 3.13843
3.06580 3.45227
3.15176
3.49845
3.88328
3.34173 3.79750 4.31044
3.64248 4.17725 4.78459
1.36706
1.51567
1.38756 1.54598
1.40838
1.57690
1.42950
1.60844
1.45095
1.64061
3.97031 4.59497 5.31089
4.32763 5.05447 5.89509
1.12616 1.19405
1.14869 1.22987 1.31593
1.17166
1.19509 1.30477
1.26677 1.36857
1.21899 1.34392
3%
4%
5%
1.03000
1.04000
1.05000
1.06090
1.08160
1.10250
1.12486 1.15763
1.09273
1.12551 1.16986 1.21551
1.15927
1.21665
1.27628
1.24337
1.38423
1.26824 1.42576
1.29361
1.46853
1.31948 1.51259
1.34587 1.55797
1.37279
1.40024
1.42825
1.45681
1.48595
12%
13%
1.12000
1.13000
1.25440
1.27690
1.40493
1.44290
1.57352
1.63047
1.76234 1.84244
1.60471
1.87298
1.65285
1.94790
1.70243 2.02582
1.75351
1.80611
1.58687
1.26532 1.34010 1.41852 1.50073
1.40710 1.50363 1.60578 1.71382
1.47746 1.59385 1.71819 1.85093
1.42331 1.55133 1.68948
1.48024 1.62889
1.83846
1.99900
1.79085
1.96715
2.15892
3.47855 3.83586
3.89598 4.33452
4.36349 4.89801
4.88711 5.53475
5.47357 6.25427
1.53945 1.71034
1.60103
1.89830
1.79586 2.01220
1.88565
1.66507
1.73168
1.97993
1.80094 2.07893
6.13039 7.06733
6.86604
7.98608
6%
7%
1.06000
1.07000
1.12360
1.14490
1.19102 1.22504
1.26248 1.31080
1.33823 1.40255
1.86029
2.27877 2.78596 3.39956
1.91610 2.36992 2.92526 3.60354
1.97359 2.46472 3.07152 3.81975
3.22510 4.04893
3.38635 4.29187
2.03279
2.56330
2.09378
2.66584
14%
1.14000
1.29960
1.48154
1.68896
1.92541
2.10685 2.52695 3.02560
2.19112 2.65330 3.20714
4.22623
4.81790
5.49241
6.26135
7.13794
2.18287 2.54035 2.95216 3.42594
2.29202 2.69277 3.15882 3.70002
2.40662 2.85434 3.37993 3.99602
3.61653 4.31570
3.86968 4.66096
15%
1.15000
1.32250
1.52088
1.74901
2.01136
8%
1.08000
1.16640
1.25971
1.36049
1.46933
2.10485 2.33164
11
2.25219 2.51817 12
2.13293 2.40985 2.71962 13
2.26090 2.57853 2.93719 14
2.39656 2.75903 3.17217 15
16
17
18
19
20
1.77156 1.87041
2.43640 2.56516 2.69955
1.67710
1.97382 2.08195 2.19497 2.31306
1.82804 1.94872 2.07616 2.21068 2.35261 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 3.51145 3.75886
2.17189 2.35795 2.55804 2.77308 3.00404 3.25195 3.51788 3.80296 4.10840 4.43545
2.36736 2.59374 2.83942 3.10585 3.39457 3.70722 4.04556 4.41144 4.80683 5.23384
16%
1.16000
1.34560
1.56090
1.36890 1.39240
1.60161 1.64303
1.81064 1.87389 1.93878
2.10034 2.19245 2.28776
5.03383
21
4.14056
4.43040 5.43654
22
4.74053 5.87146 23
5.07237 6.34118 24
5.42743 6.84848 25
4.65239 5.11726 5.62399
5.35025 5.93603
6.15279 6.88579
7.07571 7.98752
8.13706 9.26552
Periods
1
2
3
4
5
17%
18% Periods
1.17000 1.18000
1
2
3
4
5
6.17593
6.58007 7.28759
7.69868 8.59936
9.00745 10.14724
10.53872 11.97375
6
7
8
9
10
8.13725 9.35762 10.74800 12.33030 14.12902
9.27646 10.76126 12.46768 14.42646 16.67225
6
7
8
9
10
H2EH5
11
12
13
14
15
16
17
Transcribed Image Text: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
$17,000
Time
Period (years)
29
Nominal
Rate (%)
6
Interest
Compounded
annually
New Table
Factor
$
LA
Compound
Amount
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