# 13.2.2 - PV = \$162,715.00 N = 10 YEARS I = 6 \$162,715.00 X...

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COMPLEX TV of \$ PROBLEM #2 SAVINGS REQUIRES IN 15 YRS TO TO PROVIDE \$45,000 PER YR FOR 10 YEARS A = \$45,000.00 N = 10 YEARS I = 6% \$45,000.00 X 7.36 = \$331,200.00 MONEY SAVED IN THE FIRST 10 YEARS LESS \$35,000 FOR THE CAR PURCHASED TODAY A = \$15,000.00 N = 10 YEARS I = 6% \$15,000.00 X 13.181 = \$197,715.00 CAR \$35,000.00 \$162,715.00 GROWTH OF LUMP SUM SAVED (NET OF CAR) TODATE
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Unformatted text preview: PV = \$162,715.00 N = 10 YEARS I = 6% \$162,715.00 X 1.791 = \$291,422.57 SHORT FALL AT YEAR 10 REQUIRED \$331,200.00 SAVED \$291,422.57 SHORT FALL \$39,777.44 SAVINGS REQUIRED FROM YEAR 0 TO 10 (RETIRMENT) ANNUITY X INT FACTOR = FV ANNUITY = FV INT FACTOR N = 10 YEARS I = 6% INT FACTOR = 13.181 \$39,777.44 = \$3,017.79 13.181...
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