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## Q. 1.10

Future worth/compound interest tables. You have \$10K in an account earning 10% per year. What will be in the account in 5 years?

## Verified Solution

Because you know P and want to find F, use the F/P factor. Because i is 10%, use the 10% table. To find the correct factor, go down the F/P column to where it crosses the n = 5 row. The factor is 1.611.

 P/A F/A A/P A/F P/F F/P n (P/A, i%, n) (F/A, i%, n) (A/P, i%, n) (A/F, i%, n) (P/F, i%, n) (F/P, i%, n) n 1 0.909 1.000 1.100 1.000 0.909 1.100 1 2 1.736 2.100 0.576 0.476 0.826 1.210 2 3 2.487 3.310 0.402 0.302 0.751 1.331 3 4 3.170 4.641 0.315 0.215 0.683 1.464 4 5 3.791 6.105 0.264 0.164 0.621 1.611 5 6 4.355 7.716 0.230 0.1296 0.5645 1.772 6 7 4.868 9.487 0.205 0.1054 0.5132 1.949 7 8 5.335 11.436 0.187 0.0874 0.4665 2.144 8 9 5.759 13.579 0.174 0.0736 0.4241 2.358 9 10 6.145 15.937 0.163 0.0627 0.3855 2.594 10 11 6.495 18.531 0.154 0.0540 0.3505 2.853 11 12 6.814 21.384 0.147 0.0468 0.3186 3.138 12 13 7.103 24.523 0.141 0.0408 0.2897 3.452 13 14 7.367 27.975 0.136 0.0357 0.2633 3.797 14 15 7.606 31.772 0.131 0.0315 0.2394 4.177 15

F = P(F/P, 10%, 5) = \$10,000(1.611) = \$16,110