Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Question
8%
1.08000
1.16640
1.25971
1.36049
1.46933
1.58687
1.71382
1.85093
1.99900
2.15892
2.33164
2.51817
2.71962
2.93719
3.17217
3.42594
3.70002
3.99602
4.31570
4.66096
5.03383
5.43654
5.87146
6.34118
6.84847
7.39635
7.98806
8.62711
9.31727
10.06266
10.86767
11.73708
12.67605
13.69013
14.78534
15.96817
17.24563
18.62528
20.11530
21.72452
9%
1.09000
1.18810
1.29503
1.41158
1.53862
1.67710
1.82804
1.99256
2.17189
2.36736
2.58043
2.81267
3.06581
3.34173
3.64248
3.97031
4.32763
4.71712
5.14166
5.60441
6.10881
6.65860
7.25787
7.91108
8.62308
9.39916
10.24508
11.16714
12.17218
13.26768
14.46177
15.76333
17.18203
18.72841
20.41397
22.25123
24.25384
26.43668
28.81598
31.40942
10%
1.10000
1.21000
1.33100
1.46410
1.61051
1.77156
1.94872
2.14359
2.35795
2.59374
2.85312
3.13843
3.45227
3.79750
4.17725
4.59497
5.05447
5.55992
6.11591
6.72750
7.40025
8.14028
8.95430
9.84973
10.83471
11.91818
13.10999
14.42099
15.86309
17.44940
19.19434
21.11378
23.22515
25.54767
28.10244
30.91268
34.00395
37.40434
41.14479
45.25926
11%
1.11000
1.23210
1.36763
1.51807
1.68506
1.87041
2.07616
2.30454
2.55803
2.83942
3.15176
3.49845
3.88328
4.31044
4.78459
5.31089
5.89509
6.54355
7.26334
8.06231
8.94917
9.93357
11.02627
12.23916
13.58546
15.07986
16.73865
18.57990
20.62369
22.89230
25.41045
28.20560
31.30821
34.75212
38.57485
42.81808
47.52807
52.75616
58.55934
65.00087
12%
1.12000
1.25440
1.40493
1.57352
1.76234
1.97382
2.21068
2.47596
2.77308
3.10585
3.47855
3.89598
4.36349
4.88711
5.47357
6.13039
6.86604
7.68997
8.61276
9.64629
10.80385
12.10031
13.55235
15.17863
17.00000
19.04007
21.32488
23.88387
26.74993
29.95992
33.55511
37.58173
42.09153
47.14252
52.79962
59.13557
66.23184
74.17966
83.08122
93.05097
TABLE 6.1 Future Value of 1
15%
1.15000
1.32250
1.52088
1.74901
2.01136
2.31306
2.66002
3.05902
3.51788
4.04556
4.65239
5.35025
6.15279
7.07571
8.13706
9.35762
10.76126
12.37545
14.23177
16.36654
18.82152
21.64475
24.89146
28.62518
32.91895
37.85680
43.53532
50.06561
57.57545
66.21177
76.14354
87.56507
100.69983
115.80480
133.17552
153.15185
176.12463
202.54332
232.92482
267.86355
(n)
Periods
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
expand button
Transcribed Image Text:8% 1.08000 1.16640 1.25971 1.36049 1.46933 1.58687 1.71382 1.85093 1.99900 2.15892 2.33164 2.51817 2.71962 2.93719 3.17217 3.42594 3.70002 3.99602 4.31570 4.66096 5.03383 5.43654 5.87146 6.34118 6.84847 7.39635 7.98806 8.62711 9.31727 10.06266 10.86767 11.73708 12.67605 13.69013 14.78534 15.96817 17.24563 18.62528 20.11530 21.72452 9% 1.09000 1.18810 1.29503 1.41158 1.53862 1.67710 1.82804 1.99256 2.17189 2.36736 2.58043 2.81267 3.06581 3.34173 3.64248 3.97031 4.32763 4.71712 5.14166 5.60441 6.10881 6.65860 7.25787 7.91108 8.62308 9.39916 10.24508 11.16714 12.17218 13.26768 14.46177 15.76333 17.18203 18.72841 20.41397 22.25123 24.25384 26.43668 28.81598 31.40942 10% 1.10000 1.21000 1.33100 1.46410 1.61051 1.77156 1.94872 2.14359 2.35795 2.59374 2.85312 3.13843 3.45227 3.79750 4.17725 4.59497 5.05447 5.55992 6.11591 6.72750 7.40025 8.14028 8.95430 9.84973 10.83471 11.91818 13.10999 14.42099 15.86309 17.44940 19.19434 21.11378 23.22515 25.54767 28.10244 30.91268 34.00395 37.40434 41.14479 45.25926 11% 1.11000 1.23210 1.36763 1.51807 1.68506 1.87041 2.07616 2.30454 2.55803 2.83942 3.15176 3.49845 3.88328 4.31044 4.78459 5.31089 5.89509 6.54355 7.26334 8.06231 8.94917 9.93357 11.02627 12.23916 13.58546 15.07986 16.73865 18.57990 20.62369 22.89230 25.41045 28.20560 31.30821 34.75212 38.57485 42.81808 47.52807 52.75616 58.55934 65.00087 12% 1.12000 1.25440 1.40493 1.57352 1.76234 1.97382 2.21068 2.47596 2.77308 3.10585 3.47855 3.89598 4.36349 4.88711 5.47357 6.13039 6.86604 7.68997 8.61276 9.64629 10.80385 12.10031 13.55235 15.17863 17.00000 19.04007 21.32488 23.88387 26.74993 29.95992 33.55511 37.58173 42.09153 47.14252 52.79962 59.13557 66.23184 74.17966 83.08122 93.05097 TABLE 6.1 Future Value of 1 15% 1.15000 1.32250 1.52088 1.74901 2.01136 2.31306 2.66002 3.05902 3.51788 4.04556 4.65239 5.35025 6.15279 7.07571 8.13706 9.35762 10.76126 12.37545 14.23177 16.36654 18.82152 21.64475 24.89146 28.62518 32.91895 37.85680 43.53532 50.06561 57.57545 66.21177 76.14354 87.56507 100.69983 115.80480 133.17552 153.15185 176.12463 202.54332 232.92482 267.86355 (n) Periods 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40
Steve Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Steve has recently come into an inheritance of
$421,000. He estimates that the boat he wants will cost $344,700 when he retires in 6 years.
Click here to view factor tables
How much of his inheritance must he invest at an annual rate of 15% (compounded annually) to buy the boat at retirement? (Round
factor values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 458,581.)
Investment amount
$
149182
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Transcribed Image Text:Steve Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Steve has recently come into an inheritance of $421,000. He estimates that the boat he wants will cost $344,700 when he retires in 6 years. Click here to view factor tables How much of his inheritance must he invest at an annual rate of 15% (compounded annually) to buy the boat at retirement? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 458,581.) Investment amount $ 149182
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