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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This note was uploaded on 11/13/2011 for the course CIVE 2*** taught by Professor - during the Spring '11 term at Carleton CA.

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