Complete the following using present value. (Use the Table 12.3.) (Do not round intermediate calculations. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.) $ Amount desired at end of period 22,400 Length of time 13 years Rate Compounded 12 % Semiannually On PV Table 12.3 Periods used Rate used % PV factor used PV of amount desired at end of period
Complete the following using present value. (Use the Table 12.3.) (Do not round intermediate calculations. Round the "PV factor" to 4 decimal places and final answer to the nearest cent.) $ Amount desired at end of period 22,400 Length of time 13 years Rate Compounded 12 % Semiannually On PV Table 12.3 Periods used Rate used % PV factor used PV of amount desired at end of period
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
Related questions
Question
Transcribed Image Text:Period 0.5% 1.0%
1 0.9950 0.9901
0.9901
2
0.9901 0.9803
3
4
09
5
3
6
9
7
8
9
9
10
11
12
14
13
14
14
15
16
10
17
"7
18
10
19
19
20
21
21
22
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
0.9851 0.9706
0.9991
0.9609 0.9235
0.9009
0.9802
0.9002
0.9610
0.9754 0.9515
0.9794
0.9283
0.9919
0.9209
0.9705 0.9420
0.8880
0.9145
0.9709 0.9420
0.0000
0.9140
0.9657 0.9327 0.9010
0.9921
0.900
0.90 10
0.8706
0.9143
0.9513 0.9053
0.99 15
0.9901
0.9561
0.9372
0.991€
0.9326 0.8700
0.9920
0.9279 0.8613
0.9€19
0.9233
0.9295
0.9187
0.9141
0.9141
0.9096
0.9096
0.9466 0.8963
0.9400
0.9419 0.8874 0.8364 0.7885
0.94 19 0.0074 0.0904
0.9051
0.9091 0.8195
0.6 199
0.9006
0.9000
02740
0.8610
0.7419
0:0010 0:1970
0.8525
0.0040
0.8482
VOTUE
0.8440
CONTO
2.5%
1.5% 2.0%
0.9852 0.9804 0.9756
0.9707 0.9612 0.9518
0.9563 0.9423
0.9965 0.9429
Present value interest factor of $1 per period at i% for n periods, PVIF(i,n).
4.5% 5.0%
6.0%
0.8204
3.0%
3.5% 4.0%
5.5%
0.9709 0.9662 0.9615 0.9569 0.9524 0.9479
0.9426
0.9426 0.9335 0.9246 0.9157
0.9 197
0.9070 0.8985
0.9019
0.9286 0.9151
0.9260
0.8890 0.8763
0.90 19 0.0090
0.8638
0.6705
0.8516
0.8038
0.8714 0.8548 0.8386 0.8227 0.8072
0.6072
0.07 14 0.0040 0.0900 0.0221
0.7835 0.7651 0.7473 0.7299
0.1999 0.7091 0.7475 0.7299
0.7252 0.7050
0.7402 0.7252 0.7090
6.5% 7.0% 7.5% 8.0% 8.5% 9.0% 9.5% 10.0%
0.9434 0.9390 0.9346 0.9302 0.9259 0.9217 0.9174 0.9132 0.9091
0.8900 0.8817
0.8817 0.8734 0.8653 0.8573
0.6973 0.8495 0.8417
0.04 17
0.8340
0.7829
0.8396 0.8278 0.8163
0.6390
0.8050 0.7938
0.0 103
0.7617 0.7513
0.7829 0.7722
0.1990
0.7921 0.7773 0.7629
0.7350 0.7216 0.7084 0.6956
0.7488
0.7210
0.1029 1.1400 0.7990
0.7130 0.6966 0.6806
0.6499
0.7 130 1.0900
0.6650
0.0000
0.9060 0.8885
0.9000 0.0005
0.0020 0.8420
0.0420
0.8219
0.6219
0.8025
0.0029
0.0499
0.6352
0.7462
0.6853
0.0099
0.6480
0.6302
0.0302
0.6129
0.5963
0.5801
0.7107 0.6874 0.6651
0.6091
0.7 107 0.0074
0.5835
0.5470
0.5649
0.9699
0.5649
0.5298
0.5296
0.6768
0.5403
0.5002
0.6446
0.5002
0.6139
0.6139 0.5854
0.5654
0.8398
0.0990
0.9422
0.9422
0.8070
0.0070
0.9238
0.9236
0.9097
0.9057
0.8877 0.8535
0.6939
0.0077
0.8746 0.8368
0.6300
0.0740
0.8787 0.8240
0.0701 0.0240
0.8118 0.7579
0.0110
0.8617 0.8203
0.0011
0.8489 0.8043
0.0409
0.7999 0.7430
0.7999
0.7430
0.8839 0.8626
0.0099
0.6210 0.5306
0:0€ 10
0.8623
0.6023
0 5000
0.5202
0.8413
0.64 15
0.8007
0.0001
0.7812
0.7012
0.7621
0.7021
0.7436
0.7254
0.7730
0.7254
0.7894
0.8207
0.0201
0.7694
0.7077
0.7077
0.6905
0:0900
0.8375 0.8135
0.6579
0.8131
0.0191
0.4538
0-1000
0.4427
OFTE!
0.7664
0.7664
0.0199 0.1909
0.7903
0.7860 0.7599
0.7000 0.1999
0.7337 0.7026
0.7337
0.7020
0.6756
0.6496
0.6246
0.7014 0.6618
0.7014 0.00 10
0.6394 0.6006
0.0994 0.0000
0.6810
0.00 10
0.7441
0.7089
0.7441 0.7009
0.7224 0.6849
0.7994
0.7594
0.6611
0.0011
0.6419
0.7307
0.7907
0.7679
0.1019
0.1040
0.7348
0.3817
0.00
0.3687
0.000
0.3563
0.3083
0.0000 0.0000
0.7032
0.7092
0.6729
0.07.20
0.2534
0.600m
0.6439
0.6439
0.4970
0.4970 0.4697
0:4091
0.3971 0.3757 0.3555 0.3365
0.4410
0.3906
0.4150
0.3073
0:44 10
0.4190
0.3073
0.4986
0.4726
0.4141 0.3878
0.4425
0.4479 0.4173 0.3888 0.3624
0.4423
0.2807
0.2563
0.7880
0.8528
0.7284
0.6736
0.5767
0.5339
0.1978
0.1978
0.1799
0.1799
0.8114
0.7315
0.7207
0.8961 0 8034
0.5529
0.0598 0.5954 0.5375
0.9994
0.8034
0.6468
0.7207
0.5809 0.5219
0.8916 0.7954 0.7100 0.6342 0.5667 0.5067
0.8872 0.7876 0.6995 0.6217 0.5529 0.4919
0.8828 0.7798 0.6892
0.6095 0.5394 0.4776 0.4231 0.3751
0.8784 0.7720 0.6790 0.5976 0.5262 0.4637 0.4088
0.8740 0.7644 0.6690 0.5859 0.5134 0.4502
0.0000
0.4902
0.0007 7500
0.8697 0.7568 0.6591 0.5744 0.5009 0.4371
0.0097
0.000
FOO 0.0000
101
0.6494 0.5631 0.4887 0.4243
0:00
0-100!
0 5504
0.5521 0.4767
05440
07400
0.8653
0.7493
0.0000
0.3207
0.0630
0:00
0.6398
0.0000
0.8567 0.7346
0.0719
0.0002
0.0657 0.0573
0.0000 000
0.0521
0.0000 0:00
0.0548 0.0474
0.5900
0.3677
0.3900
0.3463 0.3262
0.3677
0.3405 0.3191 0.2992
0.3633
0.3191
0.3095 0.5409
0.2992
0.4810
0.3380 0.3152 0.2941
0.3380
0.2745
0.3152 0.2941
0.7600 0.7284
0.6232
0.0730
0.9707 0.9999 0.4945 0.4581 0.4246 0.3936 0.3651 0.3387 0.3144 0.2919 0.2711 0.2519 0.2341
0.4949 0.4961
0.2919
0.2341
0.8444 0.7764 0.7142 0.6572 0.6050 0.5572 0.5134 0.4732 0.4363 0.4024
0.4303
0.3714 0.3428 0.3166 0.2925 0.2703
0.2925
0.2499 0.2311 0.2138
0.7704
0.8360 0.7649 0.7002 0.6412 0.5874 0.5384 0.4936
0.4936 0.4528
0.4920 0.4155 0.3815 0.3503
0.5905 0.3219 0.2959 0.2720 0.2502
0.2902 0.2303 0.2120 0.1952
0.8277 0.7536
0.7950 0.6864 0.6255 0.5703 0.5202 0.4746 0.4333 0.3957 0.3616 0.3305
0.5509 0.3022 0.2765 0.2531 0.2317 0.2122 0.1945
0.1949 0.1783
0.1783 0.1635
0.7425 0.6730 0.6103 0.5537 0.5026 0.4564 0.4146
0.4564
0.3769
02838
0.3427 0.3118
0.2584
0.2838
0.2354 0.2145 0.1956 0.1784
0.1429
0.1628 0.1486
0.6598
0.4856 0.4388
0.4090
0.3968 0.3589 0.3249 0.2942 0.2665
01803
0.2415 0.2190 0.1987
0.1803 0.1637 0.1487 0.1351
0.4692 0.4220 0.3797 0.3418 0.3079 0.2775 0.2502 0.2257 0.2037 0.1839 0.1662
0. 1839
0 1358
0.1502 0.1358 0.1228
0 4533 0.4057
0.4533
0.3634 0.3256 0.2919 0.2618 0.2349 0.2109 0.1895
0.1703
0.1531 0.1378 0.1240 0.1117
0.4380 0.3901 0.3477 0.3101 0.2767 0.2470 0.2206 0.1971 0.1763
01577 0 1412
0.1412
01264 0.1133 0.1015
0.3327 0.2953 0.2622 0.2330 0.2071 0.1842 0.1640 0.1460 0.1301 0.1160 0.1034 0.0923
0.3607 0.3184 0.2812 0.2486 0.2198 0.1945 0.1722 0.1525 0.1352 0.1199 0.1064 0.0945 0.0839
20
0.3950 0.3468 0.3047 0.2678 0.2356 0.2074 0.1826
0.1419
0.2010
0.1609
0.1252 0.1105 0.0976 0.0863 0.0763
00700
1.2390
0.0970
0.4056
*150* Fo
01040
00000
0.3335 0.2916 0.2551 0.2233 0.1956 0.1715 0.1504 0.1320 0.1159 0.1019 0.0895 0.0788 0.0693
0.000 0910
0-2400 0-1000
100 0-1799
04406
0.0000 0.0099 0.0740 00000
0.2790 0.2429 0.2117 0.1846 0.1610 0.1406 0.1228 0.1073 0.0939 0.0822
0.2790
01070
0.0044 0.0006
1010
01640
0.0022
0404
0.0004 0.0000
0.2670 0.2314 0.2006 0.1741 0.1512 0.1314 0.1142 0.0994 0.0865 0.0754
0.2010
O
E
0.0709
0 4000
0.0000
0.2204 0.1902
0.1643 0.1420 0.1228 0.1063 0.0920 0.0797 0.0691 0.0600
01006 01020 OTHE
04447
0.0050 00206
0.1803 0.1550 0.1333 0.1147 0.0988 0.0852 0.0735 0.0634
0.1990
0.1009
0.0092
9-1990
0 4000
04030 0.0040
00000
0.1999 0.1709 0.1462 0.1252 0.1072 0.0919 0.0789 0.0677 0.0582
0-1700
01000
1996 0.149€ TOTE 0:00 10 0.0108 0.000 0.000€ 0.0000
0.1904 0.1620 0.1379 0.1175 0.1002 0.0855 0.0730 0.0624 0.0534 0.0457
0.1904
9-1910 Conve
458
0.100€ 0.0000 0.0676
0:00
0:00!
0.1813 0.1535 0.1301 0.1103 0.0937 0.0796 0.0676 0.0575 0.0490 0.0417
09000 0.0000
9-1919
9.1991 0.00
AFE
0.009 0:00.00 0:00 0:00
OPONAT
0.4902 0.4111 0.3450 0.2898
0.1727 0.1455 0.1227 0.1036 0.0875 0.0740 0.0626 0.0530 0.0449 0.0381
0.1006 www
0.4000 0:44O!
0.0020
0-1740
64030
0.1441
0.0000
0.0000 0:0440 0.0001
0.0073
0.8315 0.6920 0.5764 0.4806 0.4011 0.3350 0.2800 0.2343 0.1962 0.1644 0.1379 0.1158
0.4000
0.0973 0.0818 0.0688 0.0580 0.0489 0.0412 0.0348
0:0010
OPTOM 0.0000 6000 0.4040 0.190€
0-1100
04007
0.0000
0 5670
0.04.14 0.0040
0.0640
0.0450
0.8274 0.6852 0.5679 0.4712 0.3913 0.3252 0.2706 0.2253 0.1878 0.1566 0.1307 0.1092 0.0914 0.0765 0.0640 0.0537 0.0450 0.0378 0.0318
0:0€14
0.47 12 0.99 19 0.0206 0.4100 0.4400 9.1970 0-1000
0.0937
0.1007 9.1994 0:00
06704
0:0979 0.00.10
00506
0.8232 0.6784 0.5595 0.4619 0.3817 0.3158 0.2614
0.0292
0.2166 0.1797 0.1491
0.0596 0.0497 0.0415 0.0347 0.0290
09990 0:4018 03704
0:9100
0€ 100
0.6747
0:00
0.0497
0:0947 0:0€90
04740
00000
0.0554
0.8191 0.6717 0.5513 0.4529 0.3724 0.3066 0.2526 0.2083 0.1719 0.1420
0.0668 0.0554 0.0460 0.0383 0.0318 0.0265
0.0191 0:00
1-4040 0.9764 0.0000 0.4040 0.2000
0.1920
0:0912
0.0004
0:0009
0.0400
0.0200
0.0004
04945
0.0000
0.3633 0.2976 0.2440 0.2003 0.1645 0.1353 0.1113
0.9099
0.0917 0.0756 0.0624 0.0516 0.0426 0.0353 0.0292 0.0242
0.2970 0.4440 0.2000
0.1999
0:09 1 0.0100 0:00€4 0.0010 0.04.20 0.0000 0.0292 0.0242
OAZA
0.040
4055
0.5351 0.4353 0.3545 0.2890 0.2358 0.1926 0.1574 0.1288 0.1055 0.0865 0.0710 0.0583 0.0480 0.0395 0.0325 0.0268 0.0221 0.0183
0.9991
0.0040 0.2090 0.6000 0.1920
0.1200
1000
0.0009
0:0909
0.0899
200
0.0020 0.0200
0.0007
0.0241 0.0109
0.5272
0:9212 0.4268 0.3458 0.2805 0.2278 0.1852 0.1507 0.1227
0.2210
0.1000 0.0816 0.0667 0.0545 0.0446 0.0365 0.0300 0.0246 0.0202 0.0166
0:4200 0.94990 0.2000
0.1002 www
0.00.10 0.0007
0.0040
0.0040
0.0809
0.0240
0.0000
0.0202
00445
0.0100
0.5194 0.4184 0.3374 0.2724 0.2201 0.1780 0.1442 0.1169 0.0948 0.0770 0.0626 0.0509 0.0415 0.0338 0.0276 0.0226 0.0184 0.0151
0:04994 0:3194 0:4 104
0.2724
0-1700
0.0000
0.0000
0.0040
0.0210
0.0407
0.0009
0.0104 0.0101
0.0000
0.0220
0.7990 0.6391 0.5117 0.4102 0.3292 0.2644
0.1712 0.1380 0.1113
0.2127
0.0899 0.0727 0.0588 0.0476 0.0386 0.0313 0.0254 0.0207 0.0168 0.0137
0.0091 9:31 0:4106
0.2049 0.2121
0904
9-1712
0.0121 0.0000
0.0204
2014 0.0000
04000
0.08.19
0.0207
0.0100
0.7950 0.6327 0.5042 0.4022 0.3211 0.2567 0.2055 0.1646 0.1320 0.1060 0.0852 0.0685 0.0552 0.0445 0.0359 0.0290 0.0235 0.0190 0.0154 0.0125
0.0129
0.1583 0.1263 0.1009 0.0807 0.0647 0.0518 0.0416 0.0334 0.0269 0.0216 0.0174 0.0140 0.0113
0.1522 0.1209 0.0961 0.0765 0.0610 0.0487 0.0389 0.0311 0.0249 0.0199 0.0160 0.0128 0.0103
0.1463 0.1157 0.0916 0.0725 0.0575 0.0457 0.0363 0.0289 0.0230 0.0184 0.0147 0.0117
0.0094
0.1407 0.1107 0.0872 0.0688 0.0543 0.0429 0.0339 0.0269 0.0213 0.0169 0.0134 0.0107 0.0085
0.6303 0.5412 0.4651
0.0000
0.2555
0.0007
0.9412
02030
0-100
0:2000
0*20*
0.7273
0.2099
02600
0:0940
0.7201
0.6118
0.0500
0500
0.010 05406
0.7130 0.6028 0.5100
0000
0:0020
000
0.7059 0.5939 0.5000
7000
0.8356 0.6989 0.5851
0.0000 10000
0.3000
0.0000
0.2437
0.2050
0.4000
0.0000
O
0.1239 0.1031 0.0858 0.0715
0.1091 0.0000
04478
0.1175 0.0972 0.0805
00000
0.0201
0.8151 0.6650 0.5431 0.4440
0.0191
O GERA
0.8110 0.6584
0.0110
GEAD
0.6519
0.0019
0.8030 0.6454
0.0090
0.7910 0.6265 0.4967 0.3943 0.3133 0.2493 0.1985
0.7871 0.6203 0.4894 0.3865 0.3057 0.2420 0.1918
0.7832 0.6141 0.4821 0.3790 0.2982 0.2350 0.1853
0.7793 0.6080 0.4750 0.3715 0.2909 0.2281 0.1791
0.6162
0.0102
0.5897
0.5897
0.5775
0.6178
0.0170
0.5969 0.5553 0.5167
0.5553
0.9900
0.4120
07760
0.4000 0.3442 0.2965
0.000
0.3883 0.3326
0.0064
0.2851 0.2445
0.9999
0.0040
3
0.3770 0.3213 0.2741 0.2340
0.0000
VET 0600
00405
0.4319 0.3660 0.3105
9:4010
0:9100
0.2636 0.2239
0.4000
0.4214 0.3554
0.5643 0.5303
0.9045 0.9505
0.5051
0.5400
0.2143
060
0.6516 0.6274
0.09 10
0.6042
0.0274 0.0042
0.5919
0.6176
0.5674
0.9919 0.9074
0.5847
0.5549
0.9047 0.9949 0.9200
0.5268
0.5584 0.5327
0.0004 0.99€!
0.5568
0.5260
0.9900
0.6435
0.0499
0.4688
0.4000
0.5002
0.0002
0.6663
0.0009
0.0221
0.6227
0.5820
0.9020
0.6028
0.6028
0.5607
0.5007
0.5439 0.5216
0.9499
0.5083 0.4852
0.0009
0.4440
0.4440
0.4751 0.4513
0.4751 0.49 13
0.4199
0.5019 0.4838
0.4090
0.5207
0.5207
0.4799 0.4604
0.4423
0.4632
0.4032
0.4289
0.4076
0.4209
0.4224
0.4224
0.3875
0.4418
0.44 16
0.4035
0.3685
0.6830
0.6830
0.6209
0.5645
0.9049
0.5132
0.9132
0.4665
0.4009
0.4241
0.4241
0.3855
0.3099
0.9900
0.3505
0.3186
0.2897
0.2897
0.2099
0.2633
0.2394
0.2176
0.2170
0.0431
0.049
0.0391
0.009
0.0356
0.0980
0.0323
0.0020
0.0294
0.0267
0:00
0.0207
0.0243
0.0240
0.0221
0:0€€
Transcribed Image Text:Complete the following using present value. (Use the Table 12.3.) (Do not round intermediate calculations. Round the "PV factor" to
4 decimal places and final answer to the nearest cent.)
$
Amount
desired at
end of period
22,400
Length
of time
13 years
Rate
On PV Table 12.3
Compounded Periods used
12 % Semiannually
Rate used
%
PV factor used
PV of amount
desired at
end of period
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