Unformatted text preview: Could you not take the $33,750, go to the table and find 33.7502 and then divide to get your answer? Well if you have not seen it yet, the answer is YES; I can work backwards to get the $1,000 by {$33,750/33.7502} So go back to #10. Go to the FV annuity table. Why? Because if you were working it forwards as in #5, we would use the FV annuity table. We therefore must use the same table working it backwards. You find 7.3359. We can now {$60,000/7.3359} to get $8,179 (#10) This is actually two problems in one. We must first calculate what the annuity will grow to. We must then calculate a lump sum problem. a. $3,000 X 15.9374 = $47,812 (FV annuity table) b. $47,812 X 17.449 = $834,275...
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 Fall '10
 SidneyFord
 Accounting

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