You choose to invest your $3,110 income tax refund check (rather than spend it!) in an account earning 5% compounded annually. How much will the account be worth in 30 years? (Use the Table provided.) (Round your answer to the nearest cent.) Worth
You choose to invest your $3,110 income tax refund check (rather than spend it!) in an account earning 5% compounded annually. How much will the account be worth in 30 years? (Use the Table provided.) (Round your answer to the nearest cent.) Worth
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:You choose to invest your $3,110 income tax refund check (rather than spend it!) in an account earning 5% compounded annually. How
much will the account be worth in 30 years? (Use the Table provided.) (Round your answer to the nearest cent.)
Worth
OVi 5:
acer
Transcribed Image Text:Future value interest factor of $1 per period at i% for n periods, FVIF(i,n).
Period 0.5%
3.0%
3.5%
4.5%
1.0450
1.0920
1.1412
1.1925
1.2462
1.3023
1.3609
1.4221
1.4861
1.5530
1.6229
1.0%
1.5%
2.0%
2.5%
4.0%
5.0%
1.0500
1.1025
1.1576
1.2155
1.2763
5.5%
1.0550
1.1130
1.1742
1.2388
1.3070
1.3788
1.4547
1.5347
1.6191
6.0%
1.0600
1.1236
1.1910
1.2625
1.3382
1.4185
1.5036
1.5938
1.6895
1.7908
1.8983
2.0122
6.5%
1.0650
7.0%
1.0700
1.1449
1.2250
1.3108
1.4026
1.5007
1.6058
1.7182
1.8385
1.9672
2.1049
7.5%
1.0750
1.1556
8.0%
1.0800
1.1664
8,5%
9.0%
9.5%
10.0%
1.0050 1.0100 1.0150 1.0200
1.0100 1.0201 1.0302 1.0404
1.0151 1.0303 1.0457 1.0612
1.0202 1.0406 1.0614 1.0824
1.0253 1.0510 1.0773
1.0304 1.0615 1.0934 1.1262
1.0355 1.0721 1.1098 1.1487
1.0407 1.0829 1.1265 1.1717
1.0459 1.0937 1.1434 1.1951
1.0511 1.1046 1.1605 1.2190
1.0564 1.1157 1.1779 1.2434
1.0617 1.1268
1.0670 1.1381 1.2136 1.2936
1.0723 1.1495 1.2318 1.3195
1.0777 1.1610 1.2502 1.3459
1.0831 1.1726 1.2690 1.3728
1.0885 1.1843 1.2880 1.4002
1.0939 1.1961 1.3073 1.4282
1.0994 1.2081 1.3270 1.4568
1,1049 1.2202 1.3469 1.4859
1.1104 1.2324 1.3671 1.5157
22
1.0250
1.0506
1.0300
1.0350
1.0400
1.0850
1.0900
1.0950
1.1000
1.0609
1.0927
1.0816
1.1249
1.1699
1.2167
1.0712
1.1342
1.1772
1.1881
1.1990
1.2100
1.0769
1.1087
1.2079
1.2865
1.3701
1.4591
1.5540
1.6550
1.7626
1.8771
1.2423
1.2597
1.2773
1.2950
1.3129
1.3310
4
1.1038
1.1255
1.1475
1.3355
1.4356
1.5433
1.6590
1.7835
1.9172
2.0610
2.2156
2.3818
2.5604
2.7524
2.9589
3.1808
1.3859
1.5037
1.6315
1.7701
1.9206
1.3605
1.4116
1.4377
1.4641
1.1041
1.1314
1.1593
1.1877
1.4693
1.5386
1.6771
1.8280
1.5742
1.6105
1.2653
1.3159
1.1597
1.1941
1.2293
1.3401
1.5869
1.7238
1.7716
1.1887
1.2299
1.2723
1.4071
1.4775
1.5513
1.7138
1.8876
1.9487
8.
1.2184
1.2668
1.3168
1.3686
1.4233
1.4802
1.5395
1.6010
1.8509
1.9926
2.0669
2.1436
6.
1.2489
1.3048
1.3629
1.4106
1.9990
2.0839
2.1719
2.2632
2.3579
10
1.2801
1.3439
1.6289
1.7081
2.1589
2.3316
2.2610
2.3674
2.5804
2.8127
2.4782
2.7137
2.5937
11
1.3121
1.3842
1.4600
1.7103
1.8021
1.9992
2.4532
2.8531
12
1.1956 1.2682
1.3449
1.4258
1.5111
1.6959
1.7959
2.1291
2.2675
2.4149
2.5718
2.7390
2.2522
2.4098
2.5785
1.9012
2.5182
2.6617
2.9715
3.1384
13
1.4685
1.5126
1.5580
1.3785
1.5640
1.6651
1.7722
1.8856
2.0058
2.1329
2.7196
2.8879
3.0658
3.2537
3.4523
14
1.4130
1.6187
1.7317
1.8009
1.8730
1.8519
2.2609
2.3966
1.9799
2.1161
2.2325
2.9372
3.1334
3.3417
3.5629
3.9013
3.7975
15
1.4483
1.6753
1.9353
2.0789
2.7590
3.1722
3.3997
3.6425
4.1772
16
1.4845
1.6047
1.7340
2.0224
2.1829
2.3553
2.9522
3.4259
2.5404
2.6928
3.6887
3.9703
4.2719
4.5950
17
1.5216
1.6528
1.7947
1.9479
2.1134
2.2920
2.4848
2.9170
3.1588
3.4194
3.7000
4.0023
4.3276
4.6778
5.0545
18
1.5597
1.7024
1.8575
2.0258
2.2085
2.4066
2.6215
3.3799
3.6165
2.8543
3.1067
3.6758
3.9960
4.3425
4.7171
5.1222
5.5599
19
1.5987
1.7535
1.9225
2.1068
2.3079
2.5270
2.7656
3.3086
3.0256
3.2071
3.9515
4.3157
4.7116
5.1417
6.1159
6.7275
5.6088
20
1.6386
1.8061
1.9898
2.1911
2.4117
2.6533
2.9178
3.5236
3.7527
3.8697
4.2479
4.6610
5.1120
5.6044
6.1416
21
1.6796
1.8603
2.0594
2.2788
2.5202
2.7860
3.0782
3.3996
4.1406
4.5664
5.0338
5.5466
6.1088
6.7251
7.4002
1.1160 1.2447 1.3876 1.5460
1.1216 1.2572 1.4084 1.5769
1.1272 1.2697 1.4295 1.6084
1.1328 1.2824 1.4509 1.6406
26
1.7216
1.9161
2.1315
2.3699
2.6337
2.9253
3.2475
3.6035
3.9966
5.4365
5.8715
6.3412
6.8485
7.3964
4.4304
4.9089
6.0180
6.6586
7.3639
8.0635
8.1403
23
1.7646
1.9736
2.2061
2.4647
2.7522
3.0715
3.4262
3.8197
4.2564
4.7405
5.2771
6.5296
7.2579
8.9543
24
1.8087
2.0328
2.2833
2.5633
2.8760
3.2251
3.6146
4.0489
4.5331
5.0724
5.6729
7.0846
7.6868
7.9111
8.8296
9.8497
25
1.8539
2.0938
2.3632
2.6658
3.0054
3.3864
3.8134
4.2919
4.8277
5.4274
6.0983
9.6684
8.6231
10.8347
1.1385 1.2953 1.4727 1.6734
1.1442 1.3082 1.4948 1.7069
1.1499 1.3213 1.5172 1.7410
1.1556 1.3345 1.5400 1.7758
1.1614 1.3478 1.5631 1.8114
31
1.9003
2.1566
2.4460
2.7725
3.1407
3.5557
4.0231
4.5494
5.1415
5.8074
6.5557
8.3401
9.3992
10,5869
11.9182
27
2.2213
2.2879
1.9478
2.5316
2.8834
3.2820
3.7335
4.2444
4.8223
5.4757
6.2139
7.0474
7.9881
9.0490
9.8182
10.2451
11.1671
11.5926
13.1100
28
1.9965
2.6202
2.9987
3.4297
3.9201
4.4778
5.1117
5.8316
6.6488
7.5759
8.6271
12.6939
14.4210
29
2.0464
2.3566
2.7119
3.1187
3.5840
4.1161
4.7241
5.4184
6.2107
7.1143
8.1441
9.3173
10.6528
12.1722
13.8998
15.8631
30
2.0976
2.4273
2.8068
3.2434
3.7453
4.3219
4.9840
5.7435
6.6144
7.6123
8.7550
10.0627
11.5583
13.2677
15.2203
17.4494
1.1672 1.3613 1.5865 1.8476
1.1730 1.3749 1.6103 1.8845
1.1789 1.3887 1.6345 1.9222
1.1848 1.4026 1.6590 1.9607
2.1500
2.5001
2.9050
3.3731
3.9139
4.5380
5.2581
6.0881
7.0443
8.1451
9.4116
10.8677
12.5407
14.4618
16.6662
19.1943
32
2.2038
2.5751
3.0067
3.5081
4.0900
4.7649
5.5473
6.4534
7.5022
8.7153
10.1174
11.7371
13.6067
15.7633
18.2495
21.1138
33
2.2589
2.6523
3.1119
3.6484
4.2740
5.0032
5.8524
6.8406
7.9898
9.3253
10.8763
12.6760
17.1820
18.7284
14.7632
19.9832
23.2252
34
2.3153
2.7319
3.2209
3.7943
4.4664
5.2533
6.1742
7.2510
8.5092
9.9781
11.6920
13.6901
16.0181
21.8816
25.5477
1.1907 1.4166 1.6839 1.9999
1.1967 1.4308 1.7091 2.0399
1.2027 1.4451 1.7348 2.0807
1.2087 1.4595 1.7608 2.1223
1.2147 1.4741 1.7872 2.1647
1.2208 1.4889 1.8140 2.2080
1.2269 1.5038 1.8412 2.2522
1.2330 1.5188 1.8688 2.2972
1.2392 1.5340 1.8969 2.3432
1.2454 1.5493 1.9253 2.3901
1.2516 1.5648 1.9542 2.4379
1.2579 1.5805 1.9835 2.4866
1.2642 1.5963 2.0133 2.5363
1.2705 1.6122 2.0435 2.5871
1.2768 1.6283 2.0741 2.6388
50
35
2.3732
2.8139
3.3336
3.9461
4.6673
5.5160
6.5138
7.6861
9.0623
10.6766
12.5689
14.7853
15.9682
17.3796
20.4140
23.9604
28.1024
36
2.4325
2.8983
3.4503
4.1039
4.8774
5.7918
6.8721
8.1473
9.6513
11.4239
13.5115
14.5249
15.6143
18.8569
22.2512
24.2538
26.2366
30.9127
37
2.4933
2.9852
3.5710
4.2681
5.0969
6.0814
7.2501
8.6361
10.2786
12.2236
17.2456
20.4597
28.7291
34.0039
38
2.5557
3.0748
3.6960
4.4388
5.3262
6.3855
7.6488
9.1543
10.9467
13.0793
18.6253
22.1988
26.4367
31.4584
37.4043
39
2.6196
3.1670
3.8254
4.6164
5.5659
6.7048
8.0695
9.7035
11.6583
13.9948
16.7853
20.1153
24.0857
28.8160
34.4469
41.1448
40
2.6851
3.2620
3.9593
4.8010
5.8164
7.0400
8.5133
10.2857
12.4161
14.9745
18.0442
21.7245
26.1330
31.4094
37.7194
45.2593
41
2.7522
3.3599
4.0978
4.9931
6.0781
7.3920
8.9815
10.9029
13.2231
16.0227
19.3976
23.4625
28.3543
34.2363
41.3027
49.7852
42
2.8210
3.4607
4.2413
5.1928
6.3516
7.7616
9.4755
11.5570
14.0826
17.1443
20.8524
25.3395
30.7644
37.3175
45.2265
54.7637
43
2.8915
3.5645
4.3897
5.4005
6.6374
8.1497
9.9967
12.2505
14.9980
18.3444
22.4163
27.3666
33.3794
40.6761
49.5230
60.2401
44
2.9638
3.6715
4.5433
5.6165
6.9361
8.5572
10.5465
12.9855
15.9729
19.6285
24.0975
25.9048
29.5560
36.2167
44.3370
54.2277
66.2641
45
3.0379
3.7816
4.7024
8.9850
9.4343
5.8412
7.2482
11.1266
13.7646
17.0111
21.0025
31.9204
39.2951
48.3273
59.3793
72.8905
46
3.1139
3.8950
4.8669
6.0748
7.5744
11.7385
14.5905
18.1168
22.4726
27.8477
34.4741
42.6352
52.6767
65.0204
80.1795
47
3.1917
4.0119
5.0373
6.3178
7.9153
9.9060
12.3841
15.4659
19.2944
20.5485
24.0457
29.9363
37.2320
46.2592
57.4176
71.1973
88.1975
48
3.2715
4.1323
5.2136
6.5705
8.2715
10.4013
13.0653
16.3939
25.7289
32.1815
40.2106
49
50.1912
62.5852
77.9611
97.0172
3.3533
4.2562
5.3961
6.8333
8.6437
10.9213
13.7838
17.3775
21.8842
27.5299
34.5951
68.2179
74.3575
43.4274
54.4574
85.3674
106.7190
1.2832 1.6446 2.1052 2.6916
3.4371
4.3839
5.5849
7.1067
9.0326
11.4674
14.5420
18.4202
23.3067
29.4570
37.1897
46.9016
59.0863
93.4773
117.3909
ace
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