Question

Brenda plans to reduce her spending by $90 a month. Calculate the future value of this increase in savings over the next 18 years. (Assume an annual deposit to her savings account, and an annual interest rate of 8 percent.) Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value

Answer 1

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z AA AB AC AD AE AF AG AH 7 90 8 90 9 90 10 90 11 90 12 90 13 90 14 90 15 90 16 90 17 90 18 90 19 90 20 90 21 90 22 90 23 90 24 90 25 90 26 90 27 90 28 90 29 90 30 90 31 90 32 90 360.87 358.48 356.11 353.75 351.41 349.08 346.77 344.47 342.19 339.92 337.67 335.44 333.21 331.01 328.82 326.64 324.47 322.33 320.19 318.07 315.96 313.87 311.79 309.73 307.68 305.64 2 Month 0 1 2 3 4 5 6 3 Deposit 90 90 90 90 90 90 4 Annual interest rate : 8% 8% 5 Compounding monthly 6 FY 375.54802 373.06 370.59 368.14 365.7 363.28 = 90*(1+interest rate/12) (time period) Here time period = (18-12- number of month) example: this is first deposit, i.e. first month So time period = (18-12-1) = 215 So, -90"(1-interest rate/12)(215) 12 Total future value 43207.7515 sum of future values of all the months

- 2 AI 33 9 0 AJ 34 90 AK 35 90 AL 36 90 AM 37 90 AN 38 90 AO 39 90 AP 40 90 AQ 41 90 AR 42 90 AS 43 90 AT 44 90 AU 45 90 AV 46 90 AW 47 90 AX 48 90 216 AY AZ 49 50 90 90 BA 51 90 BB 52 90 BC 53 90 BD 54 90 BE 55 90 BF BG 56 57 90 90 BH 58 90 BI 59 90 BJBK 60 61 90 90 BL 62 90 BM 63 90 BN 64 90 BO 65 90 BP 66 90 3 6 303.62 301.6 299.61 297.62 295.65 293.69 291.75 289.82 287.9 285.99 284.1 282.22 280.35 278.49 276.65 274.81 272.99 271.19 269.39 267.61 265.83 264.07 262.32 260.59 258.86 257.15 255.44 253.75 252.07 250.4 248.74 247.1 245.46 243.83 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 1090909090909090909090909090909090909090909090909090909090909090909090 13 242.22 240.62 239.02 237.44 235.87 234.31 232.75 231.21 229.68 228.16 226.65 225.15 223.66 222.18 220.7 219.24 217.79 216.35 214.92 213.49 212.08 210.67 209.28 207.89 206.52 205.15 203.79 202.44 2011 199.77 198.44 197.13 195.82 194.53 101 90 102 90 103 90 104 90 105 90 106 90 107 90 108 90 109 90 110 90 111 90 112 90 113 90 114 90 115 90 116 90 117 90 118 90 119 90 120 90 121 90 122 90 123 90 124 124 90 125 90 125 126 90 126 127 90 127 128 90 128 129 90 129 130 90 130 131 90 132 90 133 90 134 90 20 193.24 191.96 190.69 189.43 188.17 186.93 185.69 184.46 183.24 182.02 180.82 179.62 178.43 177.25 176.07 174.91 173.75 172.6 171.46 170.32 169.19 168.07 166.96 165.85 164.76 163.66 162.58 1 61.5 160.43 159.37 158.32 157.27 156.23 155.19 135 90 136 90 137 90 138 90 139 90 140 90 141 90 142 90 143 90 144 90 145 90 146 90 147 90 148 90 149 90 150 90 151 90 152 90 153 90 154 90 155 90 156 90 157 90 158 90 159 90 160 90 161 90 162 90 163 90 164 90 165 90 166 90 167 90 168 90 154.16 153.14 152.13 151.12 150.12 149.13 148.14 147.16 146.18 145.22 144.25 143.3 142.35 141.41 140.47 139.54 138.62 137.7 136.79 135.88 134.98 134.09 133.2 132.32 131.44 130.57 129.7 128.85 127.99 127.14 126.3 125.47 124.64 123.81 27 28 29 169 90 170 90 171 90 172 90 173 90 174 90 175 90 176 90 177 90 178 90 179 90 180 90 181 90 182 90 183 90 184 90 185 90 186 90 187 90 188 90 189 90 190 90 191 90 192 90 193 90 194 90 195 90 196 90 197 90 198 90 199 90 200 90 201 90 202 90 33 122.99 122.18 121.37 120.56 119.76 118.97 118.18 117.4 116.62 115.85 115.08 114.32 113.56 112.81 112.07 111.32 110.59 109.85 109.13 108.4 107.69 106.97 106.26 105.56 104.86 104.17 103.48 102.79 102.11 101.43 100.76 100.1 99.432 98.774 203 90 204 90 205 90 206 90 207 90 208 90 209 90 210 90 211 90 212 90 213 90 214 90 215 90 216 90 39 98.12 97.47 96.824 96.183 95.546 94.914 94.285 93.661 93.04 92.424 91.812 91.204 90.6 90