Use the table below to answer the following questions: Present Value of an Annuity of 1 Future Value of an Annuity of 1 Period 4% 5% 8% 10% 4% 5% 8% 10% 4 3.6299 3.5460 3.3121 3.1699 4.2465 4.3101 4.5061 4.6410 5 4.4518 4.3295 3.9927 3.7908 5.4163 5.5256 5.8666 6.1051 6 5.2421 5.0757 4.6229 4.3553 6.6330 6.8019 7.3359 7.7156 7 6.0021 5.7864 5.2064 4.8684 7.8983 8.1420 8.9228 9.4872 8 6.7327 6.4632 5.7466 5.3349 9.2142 9.5491 10.6366 11.4359 9 7.4353 7.1078 6.2469 5.7590 10.5828 11.0266 12.4876 13.5795 10 8.1109 7.7217 6.7101 6.1446 12.0061 12.5779 14.4866 15.9374 11 8.7605 8.3064 7.1390 6.4951 13.4864 14.2068 16.6455 18.5312 Bobby gets a yearly alimony payment from his ex-wife and wants to saves enough to put a 15% down payment on a home in 4 years. Median homes go for $950,000. How much should Bobby put away into an investment each year if he can get a 8% return a year? Group of answer choices $46,262 $31,624 $35,593 $23,131
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Use the table below to answer the following questions: |
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Present Value of an |
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Period |
4% |
5% |
8% |
10% |
4% |
5% |
8% |
10% |
|
4 |
3.6299 |
3.5460 |
3.3121 |
3.1699 |
4.2465 |
4.3101 |
4.5061 |
4.6410 |
|
5 |
4.4518 |
4.3295 |
3.9927 |
3.7908 |
5.4163 |
5.5256 |
5.8666 |
6.1051 |
|
6 |
5.2421 |
5.0757 |
4.6229 |
4.3553 |
6.6330 |
6.8019 |
7.3359 |
7.7156 |
|
7 |
6.0021 |
5.7864 |
5.2064 |
4.8684 |
7.8983 |
8.1420 |
8.9228 |
9.4872 |
|
8 |
6.7327 |
6.4632 |
5.7466 |
5.3349 |
9.2142 |
9.5491 |
10.6366 |
11.4359 |
|
9 |
7.4353 |
7.1078 |
6.2469 |
5.7590 |
10.5828 |
11.0266 |
12.4876 |
13.5795 |
|
10 |
8.1109 |
7.7217 |
6.7101 |
6.1446 |
12.0061 |
12.5779 |
14.4866 |
15.9374 |
|
11 |
8.7605 |
8.3064 |
7.1390 |
6.4951 |
13.4864 |
14.2068 |
16.6455 |
18.5312 |
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Bobby gets a yearly alimony payment from his ex-wife and wants to saves enough to put a 15% down payment on a home in 4 years. Median homes go for $950,000. How much should Bobby put away into an investment each year if he can get a 8% return a year? |
Group of answer choices
$46,262
$31,624
$35,593
$23,131
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