Homework Answers
| Year | PV factor @ 6% | Remarks |
| 1 | 1.0000000 | |
| 2 | 1.0600000 | = 1 * 1.06 |
| 3 | 1.1236000 | = 1.06 * 1.06 |
| 4 | 1.1910160 | = 1.1236 * 1.06 |
| 5 | 1.2624770 | = 1.191016 * 1.06 |
| 6 | 1.3382256 | = 1.262477 * 1.06 |
| 7 | 1.4185191 | = 1.3382256 * 1.06 |
| 8 | 1.5036303 | = 1.4185191 * 1.06 |
| 9 | 1.5938481 | = 1.5036303 * 1.06 |
| 10 | 1.6894790 | = 1.5938481 * 1.06 |
| 11 | 1.7908477 | = 1.689479 * 1.06 |
| 12 | 1.8982986 | = 1.7908477 * 1.06 |
| 13 | 2.0121965 | = 1.8982986 * 1.06 |
| Total | 18.8821377 |
| Annual deposite at the end of year | $ 5,000 |
| Divided by:Future value annuity @6% for 13 periods | 18.8821377 |
| Future value of deposit | $ 94,410.69 |
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