\2--

Curtin University

Department of Mathematics and Statistics

End of Semester 2 Central Examinations - October 2012
Attendance Mode:

Internal

Centre(s):

Bentley Campus

Unit(s):

311622
309812

Theory of Interest 202

Theory of Interest 502
Prior to commencement of the examination there will be a
10-minute reading period. During this period notes may be
written in margins of the examination paper.
Commencement of the examination will be indicated by the
supervisor.

Duration:

3 Hours

Total Marks:

100

Calculator:

Yes, as approved by the school

Supplied by the University:

1 x 16 page answer book

Statistical tables & formulae book
Actuarial Science - Selected Compound Interest Tables - separate to
examination paper
Supplied by the Student:
Calculator

THIS IS A CLOSED BOOK EXAMINATION

IMPORTANT INFORMATION
- The possession or use of:
Mobile phones or any other device capable of communicating information, are prohibited during examinations.
Electronic Organisers/PDAs (with the exception of calculators) or other similar devices capable of storing text or restricted
information are prohibited during examinations.
Calculators Only calculators approved specifically by the school/department may be used during this examination. Prior to
the commencement of the examination, calculators will be checked for compliance by the examiner.
Any breach of examination regulations will be considered cheating and appropriate action will be taken in
accordance with University policy.

Other Information:
This paper contains 9 questions.
The questions do not carry equal marks and the total mark for the paper is 100.
Attempt all questions.
All working MUST be shown.
Passing on information from your graphics calculator is not sufficient.

Examination paper IS NOT to be released to student

Page 1 of 6

Theory of Interest

202/502

Second Semester Examination - November

2012

Page

2 of6

Question 1

Calculate the present value of $18,000 in 14 years if interest rates are as follows:
(a)

a nominal rate of interest of 8% pa payable quarterly for the fIrst 3 years, and

(b)

a force of interest of 8% pa for the next 3 years, and

(c)

a nominal rate of discount of 6% pa payable half yearly for the next 4 years, and

(d)

a nominal rate of interest of 6% pa payable every 2 years for the remaining 4

years.

(A total of 8 marks for this question)

Question 2

(a)

List the main features of an investment in a Western Australian State Government

Bond. You should cover such issues as, the security of capital and income, the
protection against inflation and purchasing power, its liquidity and tax
effectiveness.
(4 marks)

(b)

The value of the assets held by an investment fund on 1 January 2011 was $2.3
million.
On 30 April 2011, the value of the assets had risen to $2.9 million and, on 1 May
2011, there was a net cash inflow to the fund of $1.5 million. On 31 December
2011, the value of the assets was $4.2 million.
(i)

Calculate the annual effective time-weighted rate of return (TWRR) for

(2 marks)
2011.

(ii)

Calculate, to the nearer 0.1%, the annual effective money-weighted rate of

return (MWRR) for 2011.
(4 marks)

(iii)

Explain why the TWRR is signifIcantly higher than the MWRR for 2011.
(2 marks)

(A total of 12 marks for this question)

Question 3 is on the next page ...

Theory ofInterest

202/502

Second Semester Examination - November

2012

Page 3 of6

Question 3

(a)

(b)

A nine-month forward contract is issued on 1 March 2011 on a stock with a price

of $9.56 per share at that date. Dividends of 30 cents per share are expected on 1
April 2011 and a further 20 cents on 1 October 2011.
(i)

Calculate the forward price assuming a risk-free rate of interest of 3% per

annum effective and assuming there is no arbitrage.
(4 marks)

(ii)

Explain why the expected price of the share in nine months' time is not
needed to calculate the forward price.
(2 marks)

The force of interest, 5(t), is a function of time and at any time t, measured in
years, is a + bt where a and b are constants. An amount of $45 invested at time
t = 0 accumulates to $55 at time t = 5 and $120 at time t = 10.

b.

(i)

Calculate the values of a &

(ii)

Calculate the annual effective rate of interest that would give rise to the
same accumulation from time t = 0 to time t = 10.
(2 marks)

(5 marks)

(A total of 13 marks for this question)

Question 4

A loan is repayable by quarterly instalments paid in arrears for 20 years. The level
payment per quarter is $1,800.
Calculate the following, using an interest rate of 8% per annum payable quarterly,
(a)

the amount of the original loan

(3 marks)

(b)

the capital repayment in the tenth instalment

(3 marks)

(c)

the interest paid in the last instalment

(2 marks)

(d)

the total interest paid over the whole 20 years

(3 marks)

Remember: You have interest tables.

(A total of 1 1 marks for this question)

Question 5 is on the next page ...

Theory ofInterest

202/502

Second Semester Examination - November

2012

Page

4 of6

Question 5
An investor is considering two projects, Project A and Project B. Project A involves the
investment of $1,309,500 in a retail outlet. Rent is received quarterly in arrears for 25
years, at an initial rate of $100,000 per annum. It is assumed that the rent will increase
at a rate of 5% per annum compound, but with increases taking place every five years.
Maintenance and other expenses are incurred quarterly in arrears, at a rate of $12,000
per annum. The retail outlet reverts to its original owner after 25 years for no payment.

Project B involves the purchase of an office building for $1,000,000. The rent is to be
received quarterly in advance at an initial rate of $85,000 per annum. It is assumed that
the rent will increase to $90,000 per annum after 20 years. There are no maintenance or
other expenses. After 25 years the property reverts to its original owner for no payment.
(a)

Show that the internal rate of return for project A is 9% per annum effective.
(5 marks)

(b)

Calculate the annual effective internal rate of return for Project B. Show your
working.
(4 marks)

(c)

Discuss the extent to which the answers to parts (a) and (b) above will influence
the investor's decision over which project to choose.
(3 marks)

(A total of 12 marks for this question)

Question 6

A fixed-interest security of $100 nominal has just been issued. The security pays half
yearly coupons of 5% per annum in arrears and is redeemable at par twenty (20) years
after issue.
(a)

Calculate the price to provide an investor with a net of tax redemption yield of 6%
per annum effective. The investor pays tax at a rate of 20% on income and is not
(3 marks)
subject to capital gains tax.

(b)

Determine the annual effective gross redemption yield of this security assuming
the price calculated in (a) is paid.
(4 marks)

(c)

Determine the real annual effective gross redemption yield of this security if the
rate of inflation is constant over the twenty (20) years at 3% per annum effective.
(2 marks)

Remember: You have interest tables.

(A total of 9 marks for this question)

Question 7 is on the next page ...

Theory ofInterest

202/502

Second Semester Examination - November

2012

Page

5 of6

Question 7

(a)

(b)

Assuming an effective rate of interest of 6% pa, find the present value as at 1

January 2004 of the following annuities, each with a term of 25 years:
(i)

An annuity payable annually in advance from 1 January 2005, initially of

$3000 pa, and increasing by $500 pa on each subsequent 1 January.
(4 marks)

(ii)

An

annuity as in (i), but only 10 increases are to be made, the annuity then
remaining level for the remainder of the term.
(3 marks)

investor is to receive a special annuity payable annually for a term of 10 years

in which payments are increased by 3% compound each year to allow for
inflation. The first payment is to be $1000 on 1 November 2005. Find the
accumulated value of the annuity payments as at 31 October 2022 if the investor
achieves an effective rate of return of 4% per annum payable half year.
(4 marks)
An

(A total of 1 1 marks for this question)

Question 8

(a)

In a particular bond market, n-year spot rates can be approximated by the function
0.06 - 0.02e-O.ln.
Calculate the gross redemption yield for a 3-year bond which pays coupons of 3%
annually in arrears, and is redeemed at par. Show all workings.
(6 marks)

(b)

individual intends to retire on his 65 th birthday in exactly in four (4) years'

time. The Federal Government will pay a pension to the individual from exactly
age 68 of $12,000 per annum, monthly in arrears. The individual would like to
purchase an annuity certain so that his total income, including the Government
pension is $20,000 per annum, payable monthly in arrears from age 65 until his
78th birthday. He is to purchase the annuity by a series of level payments made
over four (4) years payable quarterly in advance, starting immediately.
An

Calculate the quarterly payments the individual has to make if the present value of
these payments is equal to the present value of the annuity he wishes to purchase
at an effective rate of interest of 5% per annum. Mortality can be ignored. That is,
assume the individual survives to at least age 78.
(7 marks)

(A total of 13 marks for this question)

Question 9 is on the next page ...

Theory ofInterest

202/502

Second Semester Examination - November

2012

Page 6 of6

Question 9

(a)

State the conditions that are necessary for an insurance company to be immunised
from small, uniform changes in the rate of interest.
(2 marks)

(b)

An insurance

company has liabilities to pay $1OOm annually in arrears for the next
40 years. In order to meet these liabilities, the insurance company can invest in
zero coupon bonds with terms to redemption of five years and 40 years.
(i)

Calculate the present value of the liabilities at a rate of interest of 4% per

annum effective.

(ii)

Calculate the duration of the liabilities at a rate of interest of 4% per annum

effective.
(5 marks)

(iii) Calculate the nominal amount of each bond that the fund needs to hold so
that the first two conditions for immunisation are met at a rate of interest of 4%
per annum effective.
(4 marks)

(A total of 1 1 marks for this question)

f'J END OF EXAMINATION PAPERf'J

CURTIN UNIVERSITY
Department of Mathematics & Statistics
ACTUARIAL SCIENCE - SELECTED COMPOUND
INTEREST TABLES

for use in Examinationsl

PLEASE DO NOT MARK
Hand in your examination paper at the conclusion of the
examination.

Compound Interest
lYz%
i

/2)
i(4)

i1
( 2)

0.D15 000

(l+i)I/2

1.007 472
1.003 729

(l+i)1I12 1.001 241

v

v1/2

v l/4

v l/1 2
d
d(2)

0.985 222
0.992 583
0.996 285
0.998 760
0.014 778
0.014 833

d(4)
1
d( 2)

0.014 879

iIP)

1.003 736

ili(4)

1.005 608

0.014 861 .

iIi(l2)

1.006 857

ilo

1.007 481

ild(2)

1.0ll 236

i/d(4)

1.009 358

Ud(12)

1.008 107

(fa);;]

(Da);;]

11

(1 +it

vn

s;;]

a;;]

(fa);;]

(Da).;;]

..

1.000 0
2.015 0
3.045 2
4.090 9
5.152 3

0.985 2
1.955 9
2.912 2
3.854 4
4.782 6

0.985 2
2.926 5
5.795 5
9.564 2
14.205 5

0.985 2
2.941 1
5.853 3
9.707 7
14.490 3

1
2
3
4
5

1
2
3
4
5

1.020 00
1.040 40
1.061 21
1.082 43
1.104 08

0.980 39
0.961 17
0.942 32
0.923 85
0.905 73

1.000 0
2.020 0
3.060 4
4.121 6
5.204 0

0.980 4
1.941 6
2.883 9
3.807 7
4.713 5

0.980 4
2.902 7
5.729 7
9.425 1
13.953 7

0.980 4
2.922 0
5.805 8
9.613 6
14.327 0

1
2
3
4
5

6
7
8
9
10

1.093 44
1.109 84
1.126 49
1.143 39
1.160 54

0.914 54
0.901 03
0.887 71
0.874 59
0.861 67

6.229 6
7.323 0
8.432 8
9.559 3
10.702 7

5.697 2
6.598 2
7.485 9
8.360 5
9.222 2

19.692 8
26.000 0
33.101 7
40.973 0
49.589 7

20.187 5
26.785 7
34.271 7
42.632 2
51.854 4

6
7
8
9
10

6
7
8
9
10

1.126 16
1.148 69
1.171 66
1.195 09
1.218 99

0.887 97
0.870 56
0.853 49
0.836 76
0.820 35

6.308 1
7.434 3
8.583 0
9.754 6
10.949 7

5.601 4
6.472 0
7.325 5
8.162 2
8.982 6

19.281 6
25.375 5
32.203 4
39.734 2
47.937 7

19.928 5
26.400 4
33.725 9
41.888 2
50.870 7

6
7
8
9
10

11
12
13
14
15

1.177 95
1.195 62
1.213 55
1.231 76
1.250 23

0.848 93
0.836 39
0.824 03
0.811 85
0.799 85

11.863 3
13.041 2
14.236 8
15.450 4
16.682 1

10.071 I
10.907 5
11.731 5
12.543 4
13.343 2

58.927 9
68.964 6
79.676 9
91.042 8
103.040 6

61.925 5
72.833 0
84.564 5
97.107 9
110.451 1

11
12
13
14
15

II 1.243 37 0.804 26
12
13
14
15

1.268 24
1.293 61
1.319 48
1.345 87

0.788 49
0.773 03
0.757 88
0.743 01

12.168 7
13.412 1
14.680 3
15.973 9
17.293 4

9.786 8
10.575 3
11.348 4
12.106 2
12.849 3

56.784 6
66.246 5
76.295 9
86.906 2
98.051 4

60.657 6
71.232 9
82.581 3
94.687 6
107.536 8

11
12
13
14
15

16
17
18
19
20

1.268 99
1.288 02
1.307 34
1.326 95
1.346 86

0.788 03
0.776 39
0.764 91
0.753 61
0.742 47

17.932 4
19.201 4
20.489 4
21.796 7
23.123 7

14.131 3
14.907 6
15.672 6
16.426 2
17.168 6

115.649 I
128.847 6
142.616 0
156.934 6
171.784 0

124.582 4
139.490 0
155.162 6
171.588 8
188.757 4

16
17
18
19
20

16
17
18
19
20

1.372 79
1.400 24
1.428 25
1.456 81
1.485 95

0.728 45
0.714 16
0.700 16
0.686 43
0.672 97

18.639 3
20.012 1
21.412 3
22.840 6
24.297 4

13.577 7
14.291 9
14.992 0
15.678 5
16.351 4

109.706 5
121.847 3
134.450 2
147.492 3
160.951 8.

121.114 5
135.406 4
150.398 4
166.076 9
182.428 3

16
17
18
19
20

21
22
23
24
25

1.367 06
1.387 56
10408 38
1.429 50
10450 95

0.731 50
0.720 69
0.710 04
0.699 54
0.689 21

240470 5
25.837 6
27.225 1
28.633 5
30.063 0

17.900 1
18.620 8
19.330 9
20.030 4
20.719 6

187.145 5
203.000 6
219.331 4
236.120 5
253.350 6

206.657 6
225.278 4
244.609 2
264.639 6
285.359 3

21
22
23
24
25

21
22
23
24
25

1.515 67
1.545 98
1.576 90
1.608 44
1.640 61

0.659 78
0.646 84
0.634 16
0.621 72
0.609 53

25.783 3
27.299 0
28.845 0
30.421 9
32.030 3

17.011 2
17.658 0
18.292 2
18.913 9
19.523 5

174.807 1
189.037 5
203.623 1
218.544 4
233.782 7

199.439 5
217.097 6
235.389 8
254.303 7
273.827 2

21
22
23
24
25

26
27
28
29
30

10472 71
1.494 80
1.517 22
1.539 98
1.563 08

0.679 02
0.668 99
0.659 10
0.649 36
0.639 76

31.514 0
32.986 7
34.481 5
35.998 7
37.538 7

21.398 6
22.067 6
22.726 7
23.376 1
24.015 8

271.005 2
289.067 8
307.522 6
326.354 0
345.546 8

306.757 9
328.825 5
351.552 2
374.928 3
398.944 1

26
27
28
29
30

26
27
28
29
30

1.673 42
1.706 89
1.741 02
1.775 84
1.811 36

0.597 58
0.585 86
0.574 37
0.563 II
0.552 07

33.670 9
35.344 3
37.051 2
38.792 2
40.568 1

20.121 0
20.706 9
21.281 3
21.844 4
22.396 5

249.319 8
265.138 0
281.220 5
297.550 8
314.112 9

293.948 2
314.655 1
335.936 4
357.780 8
380.177 2

26
27
28
29
30

31
32
33
34
35

1.586 53
1.610 32
1.634 48
1.659 00
1.683 88

0.630 31
0.620 99
0.6ll 82
0.602 77
0.593 87

39.101 8
40.688 3
42.298 6
43.933 1
45.592 1

24.646 1
25.267 1
25.879 0
26.481 7
27.075 6

365.086 4
384.958 2
405.148 1
425.642 4
446.427 7

423.590 3
448.857 4
474.736 4
501.218 1
528.293 7

31
32
33
34
35

31
32
33
34
35

1.847 59
1.884 54
1.922 23
1.960 68
1.999 89

0.541 25
0.530 63
0.520 23
0.510 03
0.500 03

42.379 4
44.227 0
46.111 6
48.033 8
49.994 5

22.937 7
23.468 3
23.988 6
24.498 6
24.998 6

330.891 5
347.871 8
365.039 3
382.380 3
399.881 3

403.114 9
426.583 3
450.571 8
475.070 4
500.069 0

31
32
33
34
35

36
37
38
39
40

1.709 14
1.734 78
1.760 80
1.787 21
1.814 02

0.585 09
0.576 44
0.567 92
0.559 53
0.551 26

47.276 0
48.985 I
50.719 9
52.480 7
54.267 9

27.660 7
28.237 1
28.805 I
29.364 6
29.915 8

467.490 9
488.819 3
5100400 5
532.222 2
554.272 7

555.954 4
584.191 5
612.996 6
642.361 1
672.277 0

36
37
38
39
40

36
37
38
39
40

2.039 89
2.080 69
2.122 30
2.164 74
2.208 04

0.490 22
0.480 61
0.471 19
0.461 95
0.452 89

51.994 4
54.034 3
56.114 9
58.237 2
60.402 0

25.488 8
25.969 5
26.440 6
26.902 6
27.355 5

417.529 3
435.311 9
453.217 0
471.233 0
489.348 6

525.557 9
551.527 3
577.968 0
604.870 6
632.226 0

36
37
38
39
40

41
42
43
44
45

1.841 23
1.868 85
1.896 88
1.925 33
1.954 21

0.543 12
0.535 09
0.527 18
0.519 39
0.511 71

56.081 9
57.923 1
59.792 0
61.688 9
63.614 2

300459 0
30.994 I
31.521 2
32.040 6
32.552 3

576.540 4
599.014 2
621.683 0
644.536 1
667.563 3

702.735 9
733.730 0
765.251 2
797.291 9
829.844 2

41
42
43
44
45

41
42
43
44
45

2.252 20
2.297 24
2.343 19
2.390 05
2.437 85

0.444 01
0.435 30
0.426 77
0.418 40
0.410 20

62.610 0
64.862 2
67.159 5
69.502 7
71.892 7

27.799 5
28.234 8
28.661 6
29.080 0
29.490 2

507.553 0
525.835 8
544.186 9
562.596 5
581.055 3

660.025 5
688.260 3
716.921 9
746.001 8
775.492 0

41
42
43
44
45

46 1.983 53
47 2.013 28
48 2.043 48
49 2.074 13
50 2.105 24

0.504 15
0.496 70
0.489 36
0.482 13
00475 00

65.568 4
67.551 9
69.565 2
71.608 7
73.682 8

33.056 5
33.553 2
34.042 6
34.524 7
34.999 7

690.754 3
714.099 3
737.588 7
761.213 1
784.963 3

862.900 7
8960453 9
9300496 4
965.021 1
1 000.020 8

46
47
48
49
50

46
47
48
49
50

2.486 61
2.536 34
2.587 07
2.638 81
2.691 59

0.402 15
0.394 27
0.386 54
0.378 96
0.371 53

74.330 6
76.817 2
79.353 5
81.940 6
84.579 4

29.892 3
30.286 6
30.673 1
31.052 1
31.423 6

599.554 4
618.085 0
636.638 8
655.207 8
673.784 2

805.384 3
835.670 9
866.344 0
897.396 1
928.819 7

46
47
48
49
50

20443 22
2.835 46
3.290 66
3.818 95
40432 05

0.409 30
0.352 68
0.303 89
0.261 85
0.225 63

96.214 7
122.363 8
152.710 9
187.929 9
228.803 0

39.380 3
43.154 9
460407 3
49.209 9
51.624 7

1 027.547 7
1 274.320 7
1 5190481 4
1 758.753 7
1 989.075 3

1 374.648 7
1 789.675 2
2 239.511 8
2 719.343 0
3 225.019 8

60
70
80
90
100

60
70
80
90
100

3.281 03
3.999 56
4.875 44
5.943 13
7.244 65

0.304 78
0.250 03
0.205 11
0.168 26
0.138 03

114.051 5
149.977 9
193.772 0
247.156 7
312.232 3

34.760 9
37.498 6
39.744 5
41.586 9
43.098 4

858.458 4
037.332 9
206.531 3
363.757 0
507.851 1

1 261.955 7
1 625.069 0
2 012.774 3
2 420.653 5
2 845.082 4

60
70
80
90
100

60
70
80
90
100

52

a;;]

0.985 22
0.970 66
0.956 32
0.942 18
0.928 26

0.014 916

(1+i)I,'4

s;;]

1.015 00
1.030 23
1.045 68
1.061 36
1.077 28

0.014 898
0.014 889

vn

1
2
3
4
5

0.014 944

(1 +i)n

Compound Interest

1
1
1
1

2%
i

0.020 00Q

t(2)

0.019 901

i(4)

0.019 852

i(12)

0.019 819

0.019 803

(l+i)1/2

1.009 950

(l+i)I/4

1.004 963

0.980 392

1
(1+i/ 12 1.001 652

vl/2

vl/4

vlj l2

0.990 148
0.995 062
0.998 351

0.019 608

d(2)

0.019 705

d(4)

0.019 754

d(12)

0.019 786

iIi(2)

1.004 975

i1i(4)
ifi(12)

1.009 134

i/o

1.009 967

ild(2)

1.014 975

iId(4)

ild(12)

1.007 469

1.012 469
1.010 801

53

Compound Interest

Compound Interest
n

(l+it

1
2
3
4
5

1.025 00
1.050 63
1.076 89
1.103 81
1.131 41

2'l2%
i

0.025 000

P)

0.024 846

;(4)

0.024 769

;(12 )

I)
(I+i)1/2
(1+ ;)1/4

0.024 718
0.024 693
1.012 423
1.006 192

;
(1+ )1/12 1.002 060

/
Vl 2

0.975 610
0.987 730

VI/4

0.993 846

Vlfl2

0.997 944
0.024 390

d(2)

0.024 541

d(4)

0.024 617

d(l2)

uP)
;(;(4)

0.024 667
1.006 211
1.009 327

;
iI ( 12)

1.011 407

ill)

1.012 449

ifd(2)
ild(4)

ifd(l2)

54

1.018 711
1.015 577
1.013 491

0.975 61
0.951 81
0.928 60
0.905 95
0.883 85

s;;]
1.000 0
2.025 0
3.075 6
4.152 5
5.256 3

a;;]
0.975 6
1.927 4
2.856 0
3.762 0
4.645 8

(1 +i)"

(fa);:;]

(Da);:;]

0.975 6
2.879 2
5.665 0
9.288 8
13.708 1

0.975 6
2.903 0
5.759 1
9.521 0
14.166 9

1
2
3
4
5

1
2
3
4
5

1.030 00 0.970 87
1.060 90 0.942 60
1.092 73 0.915 14
1.125 51 0.888 49
1.159 27 0.862 61

a;:;]

(fa);:;]

(Da);:;]

1.000 0
2.030 0
3.090 9
4.183 6
5.309 1

0.970 9
1.913 5
2.828 6
3.717 1
4.579 7

0.970 9
2.856 1
5.601 5
9.155 4
13.468 5

0.970 9
2.884 3
5.713 0
9.430 1
14.009 8

1
2
3
4
5

6.468 4
7.662 5
8.892 3
10.159 1
11.463 9

5.417 2
6.230 3
7.019 7
7.786 1
8.530 2

18.493 4
24.185 0
30.500 3
37.398 1
44.839 0

19.427 0
25.657 2
32.676 9
40.463 0
48.993 2

6
7
8
9
10

s;:;]

3%
0.030 000

P)

0.029 778

;(4)

0.029 668

;(12)

0.029 595

I)

0.029 559

6
7
8
9
10

1.159 69
1.188 69
1.218 40
1.248 86
1.280 08

0.862 30
0.841 27
0.820 75
0.800 73
0.781 20

6.387 7
7.547 4
8.736 I
9.954 5
11.203 4

5.508 1
6.349 4
7.170 1
7.970 9
8.752 1

18.881 9
24.770 7
31.336 7
38.543 3
46.355 3

19.675 0
26.024 4
33.194 5
41.165 4
49.917 4

6
7
8
9
10

6
7
8
9
10

1.194 05 0.837 48
1.229 87 0.813 09
1.266 77 0.789 41
1.304 77 0.766 42
1.343 92 0.744 09

11
12
13
14
15

1.312 09
1.344 89
1.378 51
1.412 97
1.448 30

0.762 14
0.743 56
0.725 42
0.707 73
0.690 47

12.483 5
13.795 6
15.140 4
16.519 0
17.931 9

9.514 2
10.257 8
10.983 2
11.690 9
12.381 4

54.738 9
63.661 5
73.092 0
83.000 2
93.357 2

59.431 7
69.689 4
80.672 6
92.363 5
104.744 9

II

12
13
14
15

11
12
13
14
15

1.384 23 0.722 42
1.425 76 0.701 38
1.468 53 0.680 95
1.512 59 0.661 12
1.557 97 0.641 86

12.807 8
14.192 0
15.617 8
17.086 3
18.598 9

9.252 6
9.954 0
10.635 0
11.296 I
11.937 9

52.785 6
61.202 2
70.054 6
79.310 2
88.938.1

58.245 9
68.199 9
78.834 8
90.130 9
102.068 8

11
12
13
14
15

1
(1+i)" 2

1.002 466

0.970 874

16
17
18
19
20

1.484 51
1.521 62
1.559 66
1.598 65
1.638 62

0.673 62
0.657 20
0.641 17
0.625 53
0.610 27

19.380 2
20.864 7
22.386 3
23.946 0
25.544 7

13.055 0
13.712 2
14.353 4
14.978 9
15.589 2

104.135 2
115.307 5
126.848 5
138.733 5
150.938 9

117.799 9
131.512 1
145.865 5
160.844 3
176.433 5

16
17
18
19
20

16
17
18
19
20

1.604 71 0.623 17
1.652 85 0.605 02
1.702 43 0.587 39
1.753 51 0.570 29
1.806 11 0.553 68

20.156 9 12.561 1
21.761 6 13.166 1
23.414 4 13.753 5
25.116 9 14.323 8
26.870 4 14.877 5

98.908 8
109.194 1
119.767 2
130.602 6
141.676 I

114.629 9
127.796 I
141.549 6
155.873 4
170.750 8

16
17
18
19
20

vIi4
yifl2

28.676 5
30.536 8
32.452 9
34.426 5
36.459 3

152.964 7
164.446 3
176.100 2
187.906 6
199.846 8

186.165 9
202.102 8
218.546 4
235.481 9
252.895 1

21
22
23
24
25

15.415 0
15.936 9
16.443 6
16.935 5
17.413 1

21
22
23
24
25

1.679 58
1.721 57
1.764 61
1.808 73
1.853 94

0.595 39
0.580 86
0.566 70
0.552 88
0.539 39

27.183 3
28.862 9
30.584 4
32.349 0
34.157 8

16.184 5
16.765 4
17.332 I
17.885 0
18.424 4

163.442 0
176.221 0
189.255 1
202.524 I
216.008 8

192.618 1
209.383 5
226.715 6
244.600 6
263.024 9

21
22
23
24
25

21
22
23
24
25

1.860 29
1.916 10
1.973 59
2.032 79
2.093 78

26
27
28
29
30

1.900 29
1.947 80
1.996 50
2.046 41
2.097 57

0.526 23
0.513 40
0.500 88
0.488 66
0.476 74

36.011 7
37.912 0
39.859 8
41.856 3
43.902 7

18.950 6
19.464 0
19.964 9
20.453 5
20.930 3

229.690 9
243.552 7
257.577 3
271.748 5
286.050 8

281.975 6
301.439 6
321.404 5
341.858 0
362.788 3

26
27
28
29
30

26
27
28
29
30

2.156 59 0.463 69
2.221 29 0.450 19
2.287 93 0.437 08
2.356 57 0.424 35
2.427 26 0.411 99

38.553 0 17.876 8 211.902 8

40.709 6 18.327 0 224.057 9
42.930 9 18.764 I 236.296 I
45.218 9 19.188 5 248.602 1
47.575 4 19.600 4 260.961 7

270.771 9
289.099 0
307.863 1
327.051 5
346.652 0

26
27
28
29
30

31
32
33
34
35

2.150 01
2.203 76
2.258 85
2.315 32
2.373 21

0.465 11
0.453 77
0.442 70
0.431 91
0.421 37

46.000 3
48.150 3
50.354 0
52.612 9
54.928 2

21.395
21.849
22.291
22.723
23.145

300.469 3
314.990 0
329.599 2
344.284 0
359.D32 0

384.183 7
406.032 9
428.324 8
451.048 5
474.193 7

31
32
33
34
35

31
32
33
34
35

2.500 08 0.399 99
2.575 08 0.388 34
2.652 34 0.377 03
2.731 91 0.366 04
2.813 86 0.355 38

50.002 7 20.000 4 273.361 3

52.502 8 20.388 8 285.788 I
55.077 8 20.765 8 298.230 0
57.730 2 21.131 8 310.675 5
60.462 1 21.487 2 323.113 9

366.652 4
387.041 I
407.806 9
428.938 8
450.426 0

31
32
33
34
35
36
37
38
39
40

4
2
9
8
2

36
37
38
39
40

2.432 54
2.493 35
2.555 68
2.619 57
2.685 06

0.411 09
0.401 07
0.391 28
0.381 74
0.372 43

57.301 4
59.733 9
62.227 3
64.783 0
67.402 6

23.556 3
23.957 3
24.348 6
24.730 3
25.102 8

373.831 3
388.670 8
403.539 6
418.427 6
433.324 8

497.750 0
521.707 3
546.055 9
570.786 2
595.889 0

36
37
38
39
40

41
42
43
44
45

2.752 19
2.821 00
2.891 52
2.963 81
3.037 90

0.363 35
0.354 48
0.345 84
0.337 40
0.329 17

70.087 6
72.839 8
75.660 8
78.552 3
81.516 1

25.466 1
25.820 6
26.166 4
26.503 8
26.833 0

448.222 0
463.110 4
477.981 4
492.827 2
507.640 1

621.355 I
647.175 7
673.342 2
699.846 0
726.679 0

41
42
43
44
45

46
47
48
49
50

3.113 85
3.191 70
3.271 49
3.353 28
3.437 11

0.321 15
0.313 31
0.305 67
0.298 22
0.290 94

84.554 0
87.667 9
90.859 6
94.131 1
97.484 3

27.154 2
27.467 5
27.773 2
28.071 4
28.362 3

522.412 8
537.138 5
551.810 7
566.423 3
580.970 4

753.833 2
781.300 7
809.073 9
837.145 2
865.507 5

46
47
48
49
50

60
70
80
90
100

4.399 79
5.632 10
7.209 57
9.228 86
11.813 72

0.227 28
0.177 55
0.138 70
0.1 08 36
0.084 65

135.991 6
185.284 1
248.382 7
329.154 3
432.548 7

30.908 7
32.897 9
34.451 8
35.665 8
36.614 1

721.774 3
851.662 1
968.669 9
I 072.215 7
1 162.588 8

1 163.653 7
1 484.085 7
1 821.927 3
2 173.369 3
2 535.435 8

60
70
80
90
100

0.537 55
0.521 89
0.506 69
0.491 93
0.477 61

36
37
38
39
40

2.898 28 0.345 03
2.985 23 0.334 98
3.074 78 0.325 23
3.167 03 0.315 75
3.262 04 0.306 56

63.275 9
66.174 2
69.159 4
72.234 2
75.401 3

21.832 3
22.167 2
22.492 5
22.808 2
23.114 8

335.535 1
347.929 5
360.288 I
372.602 4
384.864 7

472.258 3
494.425 5
516.917 9
539.726 2
562.840 9

41
42
43
44
45

3.359 90
3.460 70
3.564 52
3.671 45
3.781 60

78.663 3
82.023 2
85.483 9
89.048 4
92.719 9

23.412 4
23.701 4
23.981 9
24.254 3
24.518 7

397.067 5
409.203 8
421.267 1
433.251 5
445.151 2

586.253 3
609.954 7
633.936 6
658.190 9
682.709 6

41
42
43
44
45

46
47
48
49
50

96.501 5
3.89504 0.256 74
4.011 90 0.249 26 100.396 5'
4.132 25 0.242 00 104.408 4
4.256 22 0.234 95 108.540 6
4.383 91 0.228 1 1 112.796 9

24.775 4 456.961 1
25.024 7 468.676 2
25.266 7 480.292 2
25.501 7 491.804 7
25.729 8 503.210 1

707.485 0
732.509 7
757.776 4
783.278 I
809.007 9

46
47
48
49
50

1 077.481 2
1 362.552 6
i 659.974 6
1 966.586 4
2 280.036 5

60
70
80
90
100

5.891 60
60
7.917 82
70
80 10.640 89
90 14.300 47
100 19.218 63

0.297 63
0.288 96
0.280 54
0.272 37
0.264 44

0.169 73
0.126 30
0.093 98
0.069 93
0.052 03

163.053 4
230.594 1
321.363 0
443.348 9
607.287 7

27.675 6
29.123 4
30.200 8
31.002 4
31.598 9

610.728 2
705.210 3
786.287 3
854.632 6
911.453 0

1.014 889

(1+i)1/4

1.007 417

(1+;)1/

vli2

0.985 329
0.992 638
0.997 540
0.029 126

d(2 )

0.029 341

d(4)

0.029 450

d(l2)

0.029 522

UP)

1.007 445

if ;(4)

1.011 181

iI i(l2)

1.0B 677

ill)

1.014 926

ild(2)

1.022 445

ild(4)

1.018 681

ild(l2)

1.016 177

55

Compound Interest
4%
i

0.040 000

P)

0.039 608

i(4)
i(12)

0.039 414

0.039 285
0.039 221

(I + i)1/2

1.019 804

(I + i)1/4

1.009 853

(I+ i 1I12
1.003 274
)

y
yl/2
yl/4
yl/12
d

0.961 538
0.980 581
0.990 243
0.996 737
0.Q38 462

d(2)

0.Q38 839

d(4)
d(12)

0.039 157

UP)

1.009 902

0.039 029

i/ i(4)
i/ i(12)

1.018 204

i/o

1.019 869

ild(2)
i/d(4)
ild(l2)

I
2
3
4
5

1.014 877

1.029 902
1.024 877
1.021 537

6
7
8
9
10

(l+it

1.040 00 0.96 I 54
1.081 60 0.924 56
1.124 86 0.889 00
1.169 86 0.854 80
1.216 65 0.821 93
1.265 32
I.315 93
1.368 57
1.423 31
1.480 24

0.790 3 I
0.759 92
0.730 69
0.702 59
0.675 56

(Ia);:;]

(Da);:;]

0.961 5
2.810 7
5.477 6
8.896 9
13.006 5

0.961 5
2.847 6
5.622 7
9.252 6
13.704 4

I
2
3
4
5

17.748 4
23.067 8
28.913 3
35.236 6
41.992 2

18.946 6
24.948 6
31.681 4
39.116 7
47.227 6

49.137 6
56.632 8
64.440 3
72.524 9
80.853 9

55.988 I
65.373 2
75.358 8
85.921 9
97.040 3

12
13
14
15

11.652 3
12.165 7
12.659 3
13.133 9
13.590 3

89.396 4
98.123 8
107.009 I
116.027 3
125.155 0

108.692 6
120.858 3
133.517 6
146.651 5
160.241 8

s;;]

a;;]

1.000 0
2.040 0
3.121 6
4.246 5
5.416 3

0.961 5
1.886 I
2.775 I
3.629 9
4.451 8

6.633 0
7.898 3
9.214 2
10.582 8
12.006 I

5.242 I
6.002 I
6.732 7
7.435 3
8.110 9

(1+it

s;;]

a;;] ,

(fa);:;]

(Da);:;]

3
4
5

1.050 00
1.102 50
1.157 63
1.215 51
1.276 28

0.952 38
0.907 03
0.863 84
0.822 70
0.783 53

1.000 0
2.050 0
3.152 5
4.310 1
5.525 6

0.952 4
1.859 4
2.723 2
3.546 0
4.329 5

0.952 4
2.766 4
5.358 0
8.648 8
12.566 4

0.9574
2.811 8
5.535 0
9.081 0
13.410 5

1
2
3
4
5

6
7
8
9
10

6
7
8
9
10

1.340 10
1.407 10
1.477 46
1.551 33
1.628 89

0.'746 22
0.710 68
0.676 84
0.644 61
0.613 91

6.801 9
8.142 0
9.549 1
11.026 6
12.577 9

5.075 7
5.786 4
6.463 2
7.107 8
7.721 7

17.043 7
22.018 5
27.433 2
33.234 7
39.373 8

18.486 2
24.272 5
30.735 7
37.843 6
45.565 3

6
7
8
9
10

II

II

12
I3
14
15

1.710 34
1.795 86
1.885 6 5
1.979 93
2.078 93

0.584 68
0.556 84
0.530 32
0.505 07
0.481 02

14.206 8
8.306 4
8.863 3
15.917 I
9.393 6
17.713 0
9.898 6
19.598 6
21.578 6 10.379 7

45.805 3
52.487 3
59.381 5
66.452 4
73.667 7

53.871 7
62.735 0
72.128 5
82.027 2
92.406 8

11
12
13
14
15

16
17
18
19
20

16
17
18
19
20

2.182 87
2.292 02
2.406 62
.2.526 95
2.653 30

0.458 11
0.436 30
0.415 52
0.395 73
0.376 89

23.657 5
25.840 4
28.132 4
30.539 0
33.066 0

80.997 5
10.837 8
88.414 5
11.274 1
95.893 9
11.689 6
12.085 3 103.412 8
12.462 2 110.950 6

103.244 6
114.518 7
126.208 3
138.293 6
150.755 8

16
17
18
19
20

II
12
13
14
15

1.539 45 0.649 58
1.601 03 0.624 60
1.665 07 0.600 57
I. 731 68 0.577 48
1.800 94 0.555 26

13.486 4
8.760 5
15.025 8
9.385 I
16.626 8
9.985 6
18.291 9 10.563 I
20.023 6 11.118 4

16
17
18
19
20

1.872 98
1.947 90
2.025 82
2.106 85
2.191 12

21.824 5
23.697 5
25.645 4
27.671 2
29.778 1

21
22
23
24
25

2.278 77 0.438 83
2.369 92 0.42 I 96
2.464 72 0.405 73
2.563 30 0.390 12
2.665 84 0.375 12

31.969 2 14.029 2
34.248 0 14.451 1
36.617 9 14.856 8
39.082 6 15.247 0
41.645 9 15.622 1

134.370 5
143.653 5
152.985 2
162.348 2
171.726 1

174.271 0
188.722 I
203.579 0
218.825 9
234.448 0

21
22
23
24
25

21
22
23
24
25

2.785 96
2.925 26
3.071 52
3.225 10
3.386 35

0.358 94
0.341 85
0.325 57
0.310 07
0.295 30

35.719 3
38.505 2
41.430 5
44.502 0
47.727 I

12.821 2
13.163 0
13.488 6
13.798 6
14.093 9

118.488 4
126.009 1
133.497 3
140.938 9
148.321 5

163.576 9
176.739 9
190.228 5
204.027 2
218.121 1

21
22
23
24
25

26
27
28
29
30

2.772 47 0.360 69
2.883 37 0.346 82
2.998 70 0.333 48
3.118 65 0.320 65
3.243 40 0.308 32

44.311 7 15.982 8
47.084 2 16.329 6
49.967 6 16.663 1
52.966 3 16.983 7
56.084 9 17.292 0

181.104 0
190.468 0
199.805 4
209.104 3
218.353 9

250.430 8
266.760 4
283.423 4
300.407 1
317.699 2

26
27
28
29
30

26
27
28
29
30

3.555 67
3.733 46
3.920'13
4.116 14
4.321 94

0.281 24
0.267 85
0.255 09
0.242 95
0.231 38

51.113 5
54.669 I
58.402 6
62.322 7
66.438 8

14.375 2
14.643 0
14.898 I
15.141 1
15.372 5

155.633 7
162.865 6
170.008 2
177.053 7
183.995 0

232.496 3
247.139 3
262.037 5
277.178 5
292.551 0

26
27
28
29
30

31
32
33
34
35

3.373 I 3
3.508 06
3.648 38
3.794 32
3.946 09

59.328 3
62.701 5
66.209 5
69.857 9
73.652 2

227.544 1
236.666 0
245.711 1
254.671 9
263.541 4

335.287 7
353.161 2
3'71.308 9
389.720 1
408.384 7

31
32
33
34
35

31
32
33
34
35

4.538 04
4.764 94
5.003 19
5.253 35
5.516 02

0.220 36
0.209 87
0.199 87
0.190 35
0.181 29

70.760 8
75.298 8
80.063 8
85.067 0
90.320 3

15.592 8
15.802 7
16.002 5
16.192 9
16.374 2

190.826 1
197.541 9
204.137 7
210.609 7
216.954 9

308.143 8
323.946 5
339.949 0
356.141 9
372.516 I

31
32
33
34
35

36
37
38
39
40

4.103 93 0.243 67
4.268 09 0.234 30
4.438 81 0.225 29
4.616 37 0.216 62
4.801 02 0.208 29

77.598 3 18.908 3 272.313 5

81.702 2 19.142 6 280.982 5
85.970 3 19.367 9 289.543 3 '
90.409 I 19.584 5 297.991 5
95.025 5 19.792 8 306.323 1

427.293 0
446.435 5
465.803 4
485.387 9
505.180 7

36
37
38
39
40

36
37
38
39
40

5.791 82
6.081 41
6.385 48
6.704 75
7.039 99

0.172 66
0.164 44
0.156 61
0.149 15
0.142 05

95.836 3
101.628 1
.107.709 5
114.095 0
120.799 8

16.546 9 223.170 5

389.063 0

36

16.867 9 235.205 7
17.017 0 241.022 4
17.159 I 246.704 3

422.642 1
439.659 2
456.818 3

38
39
40

41
42
43
44
45

4.993 06 0.200 28
5.192 78 0.192 57
5.400 50 0.185 17
5.616 52 0.178 05
5.841 18 0.171 20

99.826 5
104.819 6
110.012 4
115.412 9
121.029 4

314.534 5
322.622 6
330.584 9
338.418 9
346.122 8

525.173 7
545.359 3
565.730 I
586.279 0
606.999 0

41
42
43
44
45

41
42
43
44
45

7.391 99
7.761 59
8.149 67
8.557 15
8.985 01

0.135 28
0.128 84
0.122 70
0.116 86
0.11 I 30

127.839 8
135.231 8
142.993 3
151.143 0
159.700 2

17.294 4
17.423 2
17.545 9
17.662 8
17.774 I

252.250 8
257.662 I
262.938 4
268.080 3
273.088 6

474.112 6
491.535 8
509.081 8
526.744 5
544.518 6

41
42
43
44
45

46
47
48
49
50

6.074 82 0.164 61
6.317 82 0.158 28
6.570 53 0.152 19
6.833 35 0.146 34
7.106 68 0.140 71

126.870 6 20.884 7 353.695 I

132.945 4 21.042 9 361.134 3
139.263 2 21.195 1 368.439 7
145.833 7 21.341 5 375.610 4
152.667 1 21.482 2 382.646 0

627.883 7
648.926 6
670.121 7
691.463 2
712.945 4

46
47
48
49
50

46
47
48
49
50

9.434 26
9.905 97
10.401 27
10.921 33
II.467 40

0.106 00
0.100 95'
0.096 14
0.091 56
0.087 20

168.685 2
178.119 4
188.025 4
198.426 7
209.348 0

17.880 1
17.981 0
18.077 2
18.168 7
18.255 9

277.964 5
282.709 1
287.323 9
291.810 5
296.170 7

562.398 7
580.379 7
598.456 8
616.625 6
634.881 5

46
47
48
49
50

934.412 8
1 165.137 1
1 402.115 2
1 643.318 I
1 887.375 0

60
70
80
90
100

0.053 54
353.583 7
0.032 87
588.528 5
971.228 8
0.020 18
0.012 39 1 594.607 3
0.007 60 2 610.025 2

18.929 3
19.342 7
19.596 5
19.752 3
19.847 9

333.272 5
360.183 6
379.242 5
392.501 I
401.597 I

60 10.519 63
70 15.571 62
80 23.049 80
90 34.119 33
100 50.504 95

56

n
v

Compound Interest

0.533 91
0.513 37
0.493 63
0.474 64
0.456 39

0.296 46
0.285 06
0.274 09
0.263 55
0.253 42

0.095 06
0.064 22
0.043 38
0.029 31
0.019 80 1

17.588 5
17.873 6
18.147 6
18.411 2
18.664 6

19.993 I
20.185 6
20.370 8
20.548 8
20.720 0

237.990 7 22.623 5
364.290 5 23.394 5
551.245 0 23.915 4
827.983 3 24.267 3
237.623 7 24.505 0

445.620 1
495.873 4
535.031 5
565.004 2
587.629 9

60
18.679 19
30.426 43
70
80
49.561 44
90
80.730 37
100 131.501 26

16.711 3 229.2547

405.7743

5%
i
P)

0.050 000
0.049 390

i(4)
l12 )

0.049 089

0.048 790

(1 + i)l/2

1.024 695

(1 + i)l/4

1.012 272

0.048 889

1
(I + i/ 12

1.004 074

0.952 381

vl}2
vl/4

V1/12
d

0.975 900
0.987 877
0.995 942
0.047 619

d(2)

0.048 200

d(4)
d(12)

0.048 691

0.048 494

ilP)

1.012 348

i/ i(4)
i/ i(12)

1.018 559
. 1.022 715

i/o

1.024 797

i/d(2)

1.037 348

ild(4)
ild(12)

1.031 059
1.026 881

37

821.414 2
60
1 013.146 5
70
80
1 208.070 8
1 404.954 8
90
1 603.041 8 100

57

Compound Interest
6%
;

j(2)

i{')

j(12)
S

0.060 000

1.014 674
1.004 868

0.943 396

,1/2

,
viI'

0.971 2 86
0.985 538

Vi{I 2

0.995 156

0.056 604

d(2)
d(')

0.057 428
0.057 847

{l2)

0.058 128

if ;12)

1.014 782

if ;( ')

if j(l2)

1.022 227
1.02 7 2 11

(Ia)nJ

3
4
5

1.070 00 0.934 58
1.144 90 0.873 44
1.225 04 0.816 30
1.310 80 0.762 90
1.402 55 0.712 99

1.000 0
2.070 0
3.214 9
4 43 9 9
5.750 7

0.934 6
1.808 0
2.624 3
3.387 2
4.100 2

0.934 6
2.681 5
5.13 0 4
8.181 9
11.746 9

1.500 73

8
9
10

0.666 34
1.605 78 0.622 75
1.718 19 0.582 01
1.838 46 0.543 93
1.967 15 0.508 3 5

7.153 3
8.654 0
10.259 8
11.978 0
13.816 4

4.766 5
5.389 3
5.971 3
6.515 2

1 5.744 9
20.104 2
24.760 2
29.655 6

7.023 6

34.739

42.520 3

II
12
13
14

2.104 85 0.475 09
2.252 19 0 444 0 I
2.409 85 0.414 96
2.578 53 0.387 82

15 .78 3 6

T.498 7
7.942 7
8.357 7
8.745 5

39.965 2

50.DI8 9

45.293 3
50.687 8
56 .1 17 3
61. 554 0

57.961 6
66.3 19 3
75.064 7
84 .1 72 7

12
13
14
15

9.446 6
9 .763 2
10.059 I

66.973 7
72 . 355 5
77.681 0
82.934 7
. .88. \03 I

93.619 3
103.382 5
113.441 6
123.777 2
134.371 2

16
17
18
19
20

93.174 8
98.140 5

145.206 8
156.268 0
167.540 2

21
22
23
24
25

15

15

16
17

16
17
18

18
19
20

vn

anJ

II
12
13
14

(l+it

SnJ

I
2

to

2.759 03

0.362 45

17.888
20.140
22. 5 50
2 5 .129

2.952 16
3.158 82
3.379 93

0.338 73
0.316 57
0.295 86

27.888 1
30.840 2
33.999 0

5
6

5
0

9.107 9

(Da)nJ
0.934 6
2.742 6
5.366 9
8.754 I

11

2
3
4

12.854 3

17.620 9

23.010 2
28.981 4

35.496 7

8
9
10

II

20

3.616 53 0.276 51
3.869 68 0.258 42

37.379 0 10.335 6
40.995 5 10.594 0

21
22
23

4.140 56 0.241 51
4.430 40 0.225 7I
4.740 53 0.210 95

10.835 5
11.061 2

24

5.072 37 0.197 15

44.865 2
49.005 7
5 3.436 1

11.272 2 102.992 3
58.176 7 11.469 3 107.723 8

179.009 5

25

25

5.427 43

0.184 25

63.249 0

11.653 6

112.330 1

190.663

26

26

5.807 35

0.172 20

116.807

26

11.986 7
12.137 1
12.277 7
12.409 0

202.488 9

6.213 87 0.160 93
6.648 84 0.150 40
7.114 26 0.140 56

68.676 5
74.483 8
80.697 7
87.346 5
94.460 B

11.825 8

27
28
29
30

121.152 3
125.363 5
129.439 9

214.475 6
226.612 7
238.890 4

27
28
29

133.380 9

251.299 4

30

12.531 8
12.646 6
12.753 8
12.854 0
12.947 7

137.186 8
140.858 5
144 .3 97 3
147.804 7
151.082 9

263.831 2
276.477 8

31

289.231 6
302.085 6
315 . 033 3

33
34
35

13.035 2
13.117 0

154.234 2
157.261 2

328.068
34 1.185
3 54.379
36 7.64 3

36
37
38
39

380.975 6

40

19

21
22
23

24

27
28
29
30

1.029 709

ild( 2)

1.044 782

33

1. 03 7 227

34

ild(12)

1.032 211

31
32
35
36

37
38
39
40

41

8.147 25
8.636 09
9.154 25
9 .703 51
1 0.2 85 72

0.115 79
0.109 24
0.103 06
0. 0 97 22

10.902 86

0.091 72

0.122 74

188.944 0
193.095 I
197.114 2
201.003 I

165.047 7

15.138 0

204.763 6

36

371.053 7
385.899 7
400.848 8
415.895 I

37
38
39
40

431.033 I

41

36

11.423 94

148.913 5

9.978

II 0.10022

0.087 54

37
38

12.22362 0.081 81
13.079 27 0.076 46

39

13.994 82

40

14.974 46 0.066.78

41
42

0.071 46

187.507 6

15.306 2

211.907 8

461.563 8

15.383 2
15.455 8

215.296 2
218.565 5

43

43

199.758 0
212.743 5

476.947 0
492.402 8

44
45

44
45

19.628 46
21.002 45

0.050 95
0.047 6 1

14.590 49 0.068 54
15.465 92 0.064 66
16.393 87 0.061 00
17.377 50 0.057 55
18,420 15 0.054 29

226.508 I
241.098 6
256.564 5
272.958 4
290.335 9

15.524 4
15.589 0
15.650 0
15.707 6
15.761 9

221.71 8 2

507.92 7 2
523.516 2
539.166 2
554.873 B
570.635 7

46

46
47

22.472 62
24.045 71

48
49
50

0.044 50
0.041 59

25.728 91 0.Q3 8 87
27.529 93 0.036 32
29.457 03 0.033 95

533. 128 2
967.932 2

16.161 4
16.384 5
16.509 I

60
70

57.946 43

46
47

60
70
80
90

14.736 8
14.846 0
14.949 I
15.046 3

356.316 9

10.676 58 0.093 66

102.073 0
110.218 2
118.933 4
128.258 8
138.23 6 9

8.145 11 0.122 77
8.715 27 0.114 74
9 .325 34 0 . 1 07 2 3

0.017 0 I
0.072 65

12.985 48
13.764 61

SO

184.659 6

31
32
33
34
35

16.022 67 0.062 41
17.144 26 0.058 33
18.344 35 0.054 51

44
45

48

127.268 I
135.904 2
145.058 5
154.762 0

14.621 0

0.131 37

446.2576

11.55703 0.086 53

49

119.120 9

7.612 26

175.950 5 15.224 5 208.3978

42

43

12.250 45

0.081 63

32.987 69

0.030 3 1

59.075 93

0.016 93

105.795 99

0.009 45

189.464 51

0.005 28

100 339.30208 0.0029 5

58

(Da)

7
8
9

j/o

ild{')

(la)nJ

0.058 269

(I + i)11I2

a;;,

0.058 411

(I +;)1/4

SnJ

2
3
4

0.058 695

1.029 563

vn

0.059 126

(I + ;)1/2

(l+it

Compound Interest

I 746.599 9

3 141.075 2

5 638.368 I

16.578 7

16.617 5

224.757 2
227.685 1
230.504 B
233.219 2
255 . 204 2
26 9.711 7

279.058 4

284.973 3

288.664 6

730.642 9
893.590 9
1 058. 1 81 2
I 223.688 3
1 389.707 6

42

47

48

49
50
60
70

80
90
100

0.017 26

113.989 39 0.008 77
80 224.234 39 0.004 46

90
100

441.102 98 0.002 27
867.716 33 0.001 15

160.337 4
\72.561 0 13.193 5 160.166 5
185.640 3 13.264 9 162. 953 3
199.635 I 13.331 7 165.624 5

214.609 6 13.394 I 168.183 3

230.632 2 13.452 4 170.633 I

247.776 5 13.507 0 172.977 2

266.120 9 1 3 557 9 1 75.218 8

5
5

394.369 7
407.822 2

32

421.329 I

44
45

285.749 3

13.605 5

177.361 4

306.751 8
329.224 4

13.650 0
13.691 6

179.408 4
181.363 0

462.142 6
475.834 2

46
47

353.270 1 13 .730 5 183.228 6

378.999 0 13.766 8 185.008 5
406.528 9 13.800 7 186.705 9

489.564 7
503.331 4
517.132 2

48
49
50

60
70

214.957 5 1082.095 3
216.469 3 1 224.725 0

90
100

813.520 4

14.039 2

199.806 9

1 614.134 2 14.160 4 207.678 9

3 189.062 7 14.222 0 212.296 8
6 287.185 4
12 381.661 8

14.253 3
14.269 3

656.583

797.7 08 7
939.685 6

i(2)

if')

0.070 000
0.0 6 8 816
0.068 234

j(12)

0.067850

I)

0.067659

(I + i)1{2 1.034 408

(I+i)I/.

(I +i)"12
v

1.005654
0.934 579

,,1/2
,,1/

1.017 059

vim

d(2)

df')
{l
d 2)

0.966 736
0.983 228
0.994 378
0.065 421
0.066 527
0.067 090

0.067468

if ;(2)

1.017204

if jl"

1.025 880

if ;(l2)

1.031 691

i/o

1.034 605

i/d(l)

1.052 204

;Id{<)

1.043 380

ildfl2)

1.037525

41

42
43

434.887 0
448.492 5

7%

80

59

Compound Interest
8%
;

(1 + i)"

I
2
3
4
5

1.080 00
1.166 40
1.259 71
1.360 49
1.469 33

0.925 93
0.857 34
0.793 83
0.735 03
0.680 58

1.000 0
2.080 0
3.246 4
4.506 I
5.866 6

6
7
8
9
10

1.586 87
1.713 82
1.850 93
1.999 00
2.158 92

0.630 17
0.583 49
0.540 27
0.500 25
0.463 19

II
12
13
14
15

2.331 64
2.518 17
2.719 62
2.937 19
3.172 17

16
17
18
19
20

(Da);;j

0.925 9
1.783 3
2.577 I
3.312 I
3.992 7

0.925 9
2.640 6
5.022 1
7.962 2
11.365 I

0.925 9
2.709 2
5.286 3
8.598 4
12.591 I

1
2
3
4
5

7.335 9
8.922 8
10.636 6
12.487 6
14.486 6

4.622 9
5.206 4
5.146 6
6.246 9
6.710 1

15.146 2
19.230 6
23.552 7
28.055 0
32.686 9

17.214 0
22.420 4
28.167 0
34.413 9
41.124 0

6
7
8
9
10

0,428 88
0.397 11
0.367 70
0.340 46
0.315 24

16.645 S
18.977 I
21.495 3
24.214 9
27.152 I

7.13 9 0
7.536 I
7.903 8
8.244 2
8.559 5

37.404 6
42.170 0
46.950 I
51.716 5
56.445 I

48.262 9
55.799 0
63.702 8
71.947 0
80.506 5

12
13
14
15

3.425 94
3.700 02
3.996 02
4.'315 70
4.660 96

0.29 I 8 9
0.270 27
0.250 25
0.23 1 71
0.214 5 5

30.3243
33 .750 2
37.450 2
41.446 3
45.762 0

8.851 4
9.121 6
9.371 9
9.603 6
9.818 1

61.115 4
65.710 0
70.214 4
74.617 0
78.907 9

89.357 9
98.479 5
107.851 4
117.455 0
127.273 2

16
17
18
19
20

21
22
23
24
25

5.033 83
5.436 54
5.871 46
6.341 18
6.848 48

0.198 66
0.183 94
0.170 3 2
0.157 70
0.146 02

50.422 9
55.456 8
60.893 3
66.764 8
73.105 9

10.016 8
10.200 7
10.371 1
10.528 8
10.674 8

83.079 7
87.126 4
91.043 7
94.828 4
98.478 9

137.2900

147.490 7
157.861 8
168.390 5
179.065 3

21
22
23
24
25

26
27
28
29
30

7.396 35
1.988 06
8.627 I I
9.317 27
10.062 66

0.135 20
0.125 19
0.115 91
0.107 33
. 9.099 3 8

79.954 4
87.350 8
95.338 8
103.965 9
113.283 2

10.810 0
10.935 2
11.051 I
11.158 4
11.257 8

101.994 I
105.374 2
108.619 8
111.732 3
114.713 6

189.875 3
200.810 4
211.861 5
223.019 9
234.277 7

26
27
28
29
30

31
32
33
34
35

10.867 67
11.737 08
12.676 05
13.690 13
14.785 34

0.092 02
0.085 20
0,078 89
0.073 OS
0.067 63

123.345 9
134.213 5
145.950 6
158.626 7
172.316 8

11.349 8
11.435 0
11.513 9
11.586 9
11.654 6

117.566 I
120.292 5
122.895 8
125.379 3
127.746 6

245.627 5
257.062 5
268.576 4
280.163 3
291.817 9

31
32
33
34
35

36
37
38
39
40

15.968 17
17.245 63
18.625 28
20.115 30
21. 724 52

0.062 62
0.057 99
0.053 69
0.049 71
0.046 03

187.102 I
203.070 3
220.315 9
238.941 2
259.056 5

11.717 2
I J.775 2
11.828 9
11.878 6
11.924 6

130.001 0
132.146 5
1.34.186 8
136.125 6
137.966 8

303.535 1
315.3103
327.139 1
339.017 7
350.942 3

36
37
38
39
40

36
37
38
39
40

22.251 23
24.253 84
26.436 68
28.815 98
31.409 42

0.044 94
0.041 23
0.037 83
0.034 70
0.031 84

236.124 7
258.375 9
282.629 8
309.066 5
337.882 4

10.611 8
10.653 0
10.690 8
10.725 5
10.757 4

110.543 7
112.069 2
1 \ 3.506 6
114.860 0
116.133 5

282.091 5
292.744 5
303.435 3
314.160 9
324.918 2

36
J7
38
39
40

41
42

23.462 48 0.042 62
25.339 48 0 .039 46

280.781 0 11.967 2 139.714 3

304.243 5 12.006 7 141.371 8

44
45

29.555 97 0.033 83
31.920 45 0.031 3 3

356.949 6 12.077 I 144.431 7

386.505 6 12.1084 145.841 5

329.583 0 12.043 2 142.943 0

362.909 6
374.916 3
386.959 5
399.036 6
411.145 0

41
42
43
44
45

41
42
43
44
45

34.236 27
37.317 53
40.676 I I
44.336 96
48.327 29

0.029 21
0.026 80
0.024 58
0.022 55
0.020 69

369.291 9
403.528 I
440.845 7
481.521 8
525.858 7

10.786 6
10.813 4
10.838 0
10.860 5
10.881 2

117.3311
118.456 6
119.513 7
120.506 I
121.437 3

335.704 8
346.518 2
357.356 I
368.216 6
379.097 8

4\
42
43
44
45

46
47
48

34.474 09 0.029 01
37.232 01 0.026 86

418.426 1 12.13 7 4 147.175 8

452.900 2 12.164 3 148.43 8 2
490.132 2 12.189 1 149.63 1 9

423.282 4
435,446 7
447.635 8

573.770 2 12.233 5 151.826 3

472.081 4

46
47
48
49
50

52.676 74
57.417 65
62.585 24
68.217 9\
74.357 52

0.018 98
0.017 42
0.015 98
0.014 66
0.013 45

574.186 0 10.900 2
626.862 8 10.917 6
684.280 4 10.933 6
746.865 6 10.948 2
815.083 6 10.961 7

122.310 5
123.129 I
123.896 0
124.6\4 3
125.286 7

389.998 0
400.915 6
411.849 2
422.797 4
433.759 I

46
47
48
49

46.901 61 0.021 3 2

46
47
48
49
50

11.048 0
11.084 4
11.099 8
11.106 4
11.109 1

130.016 2
132.378 6
133.530 5
lJ4.082 I
134.342 6

60
543.911 2
70
654.617 2
80
765.5572
90
876.596 I
987.676 6 100

0.078 461

i()

0.077 706

(1
; 2)

0.077 208

Ii

0.076 961

(I + ;)
(1+;)

'/

2 1.039 230

1/4

1.019 427

(I +i)11I2 1.006 434

I'

0.925 926

0.962 250

l/2

vI{
,,'/12

d
d(2)
d')

d(1l )

iI;(2)
iii''

0.980 944
0.993 607
0.074 074
0.075 499
0.076 225
0.076 715
1.019 615
1.029 519

l
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1.036 157

ilB

1.03 9 487

ild(2)

1.059 615

ifd')

1.049 519

ild(1l1

1.042 824

43

49

50

60

v"

27.366 64 0.03654

40.21057 0.024 87
43.427 42 0.023 03

60
101.25 7 06
70
218.606 41
80
471.954 83
90 1 018.915 09
100 2 199.761 26

.-

"
v

(la);;j

0.080 000

i(2)

Compound Interest

s;;]

a;;j

530.342 7 12.212 2 150.760 2

0.009 8 8
I 253.213 3
0.004 57
2 720.080 I
0.002 12
5 886.935 4
0.000 98 12123.938 6
0.000 45 2 7 484.515 7

12.376 6
12.442 8
12.473 5
12.487 7
12.494 3

459.848 0

(1 + i)"

S;;]

a;;]

(fa);;j

(Da)

P)

;r41

0.090 000
0.088 061
0.087 JI)

;f'2'

0.086 488

1)

0.086 178

(l+i)'/2 1.044 031 i

(I + i)I/. 1.021 778
"12
1.007 207
(I + ;)

II

159.676 6
595.293 I
60
163.975 4
719.464 8
70
166.273 6
844.081 I
80
167.480 3
968.903 3
90
168.105 0 1 093.821 0 100

9%

0.978 686

0.082 569

dm
d(')

d(l2)
;U(2)

1 944.792 1
0.005 68
4 619.223 2
0.002 40
0.001 01 10 950.574 1
0.000 43 25 939.184 2
0.000 18 61 422.675 5

0.992 844

0.084 347
0.085 256
0.085 869

1.022015
1.033 144

i/o

1.044 354

if d(ll)

176.031 29
60
416.730 09
70
986.551 67
80
90 2 335.526 58
100 5 529.040 79

0.957 826

if I')
2
iI ;(1 )

if dill
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.
.

0.917431

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1.040 608

1.067 015
1.055 644
1.048 108

SO

61

Compound Interest
1 0%
i
ill)

0. 1 00 000
0.097 6 1 8

i" )

0.096 455

i(ll)

0.095 690

0.095 3 1 0

( I + ;)

1/2

1 .048 809

(I + i) 1/4

1 .024 1 1 4

(1 + ;)1 /1 2 1 .007 974

v

0.909 091

vl/2

0.953 463

v l/4

0.976 454

VI/12

d
d(2)

dl'}

0.992 089
0.090 909
0.093 075
0.094 1 84

d(ll)

0.094 933

iI P)

1 .024 404

inf'}

1 .036 756

(l
if ; 2 )

1 .045 045

i/8

1 .049 206

i I d(Z)
ild(')

1 .074 404

ild(1 2)

1 .06 1 756
1 .053 378

(I + it

v"

I
2
3
4
5

1 . I 00 00
1 .2 1 0 00
1 .33 1 00
1 .464 1 0
1 .6 1 0 5 1

0.909 09
0.826 45
0.75 1 3 1
0.683 0 1
0.620 92

6
7
8
9
10

1 .77 1 56
1 .948 72
2 . 1 43 59
2.357 95
2.593 74

11
12
\3
14
15
16
17
18
19
20

(fa);;,

(Da);;,

1 .000 0 0.909 I
2. 1 00 0 1 .735 5
3.3 1 0 0 2.486 9
4.64 1 0 3. 1 69 9
6. 1 05 I 3.790 8

0.909 I
2.562 0
4.8 1 5 9
7.548 0
1 0 .652 6

0.909 1
2.644 6
5.13 1 5
8.30 1 3
1 2.092 1

1
2
3
4
5

0.564 47
0.5 1 3 1 6
0.466 5 1
0.424 1 0
0.385 54

7.7 1 5 6 4.355 3
9.487 2 4.868 4
1 1 .435 9 5.334 9
1 3.579 5 5.759 0
1 5.937 4 6. 1 44 6

1 4.039 4
1 7.63 1 5
2 1 .363 6
25. 1 80 5
29.035 9

1 6.447 4
2 1 .3 1 5 8
26.650 7
32.409 8
38.554 3

6
7
8
9
10

2.853 1 2
3 . 1 38 43
3.452 27
3.797 SO
4.177 2 S

0.350 49
0.3 1 8 63
0.289 66
0.263 33
0.239 39

1 8.53 1 2
2 1 .384 3
24.522 7
27.975 0
3 1 .772 5

6.495 I
6.8 1 3 7.
7. 1 03 4
7.366 7
7.606 I

32.891 3
36.7 1 4 9
40.480 5
44. 1 67 2
47.758 I

45.049 4
5 1 .863 I
58.966 4
66.333 I
73.939 2

1 1
12
13
14
15

4.594 97
5.054 47
5.559 92
6.1 1 5 9 1
6.727 50

0.2 1 7 63
0. 1 97 84
0. 1 79 86
0. 1 63 5 1
0 . 1 4 8 64

35.949 7
40.544 7
45.599 2
5 1 . 1 59 I
57.275 0

7.823 7
8.021 6
8.201 4
8.364 9
8.5 1 3 6

5 1 .240 1
54.603 5
57.84 1 0
60.947 6
63.920 5

8 1 .762 9
89.784 5
97.985 9
1 06.350 8
1 14.864 4

16
17
18
19
20

a;;,

64.002 5 8,048 7
7 1 .402 7 8:7 7 1 5
79.543 0 8.883 2
88.497 3 8.984 7
98.347 I 9.077 0

21
22
23
24
25

7.400 25
8 . 1 40 27
8.954 30
9.849 73
1 0.834 7 1

0. 1 3 5 1 3
0. 1 22 85
0. 1 1 1 68
0. 1 0 1 53
0.092 30

26
27
28
29
30

1 1.918 18
1 3. 1 09 99
14.420 99
1 5.863 09
1 7.449 40

0.083 9 1
0.076 28
0.069 3 4
0.063 04
0.057 3 1

1 09. 1 8 1 8
1 2 1 .099 9
1 34.209 9
1 48.630 9
1 64.494 0

31
32
33
34
35

1 9. 1 94 34 0.052 1 0
2 1 . 1 1 3 78 0.047 36
23.225 1 5 0.043 06
25.547 67 0.039 1 4
28. 1 02 44 0.035 58

1 8 1 .943 4
20 1 . 137 8
222.251 5
245.476 7
2 7 1 .024 4

I
1 23 . 5 1 3

66.758 2
69.460 8
72.029 4
74.466 0
76.773 4

1 32.284 6
1 4 1 . 1 67 8
1 50. 1 52 6
1 59.229 6

21
22
23
24
25

9. 1 60 9
9.237 2
9.306 6
9.369 6
9.426 9

78.955 0
8 1 .0 1 4 5
82.956 1
84.784 2
86.503 5

1 68.390 5
1 77.627 8
1 86.934 3
1 96.303 9
205.730 9

26
27
28
29
30

9.479 0
9.526 4
9.569 4
9.608 6
9.644 2

88. 1 1 8 6 2 1 5.209 9
89.634 2 224.736 2
9 1 .055 0 234.305 7
92.385 9 243.9 1 4 3
93.63 1 3 253.558 4

31
32
33
34
35

(I + i)"

v"

s;;,

a;;]

(/a);;]

(Da);;]

1 2%

i(')

;( 1 2)

l .028 737

0.892 857

vl/Il

23 1 .729 9
239.937 4
248. 1 58 4
256.391 4
264.635 2

36
37
38
39
40

36
37
38
39
40

36
37
.
38
39
40

59. 1 35 57
66.23 1 84
74. 1 79 66
83.081 22
93.050 97

0.0 1 6 9 1
0.0 1 5 1 0
0.0 1 3 48
0.0 1 2 04
0.0 1 0 75

41

49.785 1 8

487.85 1 8

9.799 I

60.240 07 0.0 1 6 60
66.264 08 0.0 1 5 09
72.890 48 0.0 1 3 72

592.400 7
652.640 8
7 1 8.904 8

9.834 0
9.849 1
9.862 8

41
42
43
44
45

41
42
43
44
45

1 04.2 1 7 09
1 1 6.723 1 4
\30.729 91
1 46.4 1 7 50
1 63.987 60

0.009 60
0.008 57
0.007 65
0.006 83
0.006 1 0

860. 1 42 4
964.359 5
1 08 1 .082 6
1 21 1. 8 1 2 5
I 358.230 0

8.253 4
8.26 1 9
8.269 6
8.276 4
8.282 5

73.753 1 272.888 6

43
44
45

99.555 I 3 1 2.008 6
1 00.322 I 32 1 .826 0
1 0 1 .035 9 33 1 .660 0
1 0 1 .699 9 341 .509 1
1 02.3 1 7 2 3 5 1 .3 7 1 9

74. 1 1 2 9
74.44 1 8
74.742 3
75.0 1 6 7

28 1 . 150 5
289.420 I
297.696 5
305.979 0

41
42
43
44
45

46
47
48
49
50

80. 1 79 53 0.0 1 2 47
88. 1 97 49 0.01 1 34
97.0 1 7 23 0.0 1 0 3 1
1 06.7 1 8 96 0.009 3 7
1 1 7.390 85 0.008 52

791 .795 3 9.875 3

8 7 1 .974 9 9.886 6
960. 1 72 3 9.896 9
I 057. 1 89 6 9..906 3
I 1 63.908 5 9.9 1 4 8

1 02.89 1 0
1 03.423 8
1 03.9 1 8 6
1 04.377 8
1 04.803 7

46
47
48
49
50

46
47
48
49
50

1 83.666 12
205.706 05
230.390 78
258.037 67
289.002 1 9

0.005 44
0.004 86
0.004 34
0.003 88
0.003 46

1 522.2 1 7 6
I 705.883 8
1 9 1 1 .589 8
2 1 4 1.980 6
2 400.0 1 8 2

8.288 0
8.292 8
8.297 2
8.301 0
8.304 5

75.267 2
75.495 7
75.704 0
75.893 9
76.066 9

3 1 4.267 0
322.559 8
330.857 0
339. 1 58 0
347.462 5

46
47
48
49
50

60
70
80
90
1 00

304.48 1 64 0.003 28
789.746 96 0.00 I 27
2 048.400 2 1 0.000 49
5 3 1 3.022 6 1 0.000 1 9
1 3 780.6 1 2 34 0.000 07

3 034.8 1 6 4 9.967 2
7 887.469 6 9.987 3
20 474.002 I 9.995 I
53 1 20.226 I 9.998 1
1 3 7 796. 1 23 4 9.999 3

7 47 1 .64 1 I
0.001 I I
23 223.33 1 9
0.000 3 6
72 1 45.692 5
0.000 1 2
0.000 04 224 09 1 . 1 1 8 5
0.000 0 1 696 0 1 0.547 7

8.324 0
8.330 3
8.332 4
8.333 0
8.333 2

77. 1 34 I
77.540 6
77.691 8
77.747 0
77.766 9

430.632
5 1 3.9 1 3
597.230
680.558
763.889

897.596 93
60
70 2 787.799 83
8 658.483 H j
80
90 26 89 1 .934 22
1 00 83 522.265 73

0.990 600

d (')

0. 1 1 1 738

0. 1 1 0 1 78
0. 1 1 2 795

i I i(2)

1 .029 150

iI i(')

1 .043 938

i f i(12)

1 .053 875

i/o

1 .058 867

i l d ( 2)
i t d(')
7 1 .389 4
7 1 .948 I
72.460 4
72.929 8
73.359 6

0.972 065

0.ID7 1 43

d( ll )

8 . 1 92 4
8.207 5
8.22 1 0
8.233 0
8.243 8

0.944 9 1 1

del)

94.795 9 263.234 9
95.884 0 272.940 8
96.899 9 282.673 5
97.847 8 292.430 4
98.73 1 6 302.209 5

1 07.668 2 500.328 4 60
1 08.974 4 600. 1 26 6
70
1 09.555 8 700.048 8
80
1 09.809 9 800.0 1 8 8
90
1 09.9 1 9 5 900.007 3 1 00

(I + i)I/'

,,114

9.676 5
9.705 9
9.732 7
9.757 0
9.779 I

3 6 1 .247 2
3 71 . 1 33 8
3 8 1 .030 7
390.937 0
400.85 1 9

0.1 1 3 329

vl/2

299. 126 8
330.039 5
364.043 4
4 0 1 .447 8
442.592 6

537.637 0 9.8 1 7 4

0.1 1 3 866

( I + i)11I2 1 .009 489

30.9 1 2 68 0.03 2 35
34.003 9 5 0.029 4 1
37.404 34 0.026 73
4 1 . 1 44 78 0.024 30
45.259 26 0.022 09
0.020 09

0 . 1 1 6 60 1
0 . 1 1 4 949

(1 +;)'/2 l .058 301

36
37
38
39
40

54.763 70 0.0 1 8 26

0. 1 20 000

;(2)

484.463 I
543.598 7
609.830 5
684.0 1 0 2
767.091 4

42

62

s;;,

Compound Interest

i l d(lll

1 .089 1 50
1 .073 938
1 .063 875

60
70
80
f
90
7 100

9
8
2

63

Compound Interest
15%

i
j(2)
)
.
il

a;;]

(la);;]

(Da);;]

(1 + ir

s;;]

yn

O;;j

(/a);;]

(Da);;]

0. 1 44 761

20%
pI

0.142 232
0. 140 579

Ii

fr. 1 3 9 762

(I + /)V

4
(l + i)V

Vi/I 2
)

vl/2

vl/4

0.965 663

1 .095 445
1 .046 635
1 .0 1 5 309
0.833 333

0.91 2 871
0.955 443

0.988 4 2 1

vlfl2

0 . 1 3 0 43 5

0.166 667

dCC)

0. 1 78 229

d(2)

0 . 1 3 4 990

d(')

0. 1 3 7 348

dIl l)

0.138 951

i l l{2)

1 .036 190

i de )

0. 1 82 322

0.932 505

c
vll

/)
(l + 1) 112

0.869 565

0. 1 90 890

0. 1 86 54 1
0. 1 83 7 1 4

(I + i)ll.
"12
(I + i)

0.200 000

j(1 Z}

1 .035 558
1 .0 1 1 7 1 5

t
vl/

iCC)

1 .072 3 8 1

(I + i)1 1I 2

s;;J

Compound Interest

0. 1 50 000

;(12)

d( 2

(I + i)"

n
v

d(12)
i l P)

0.984 921

0. 1 74 258

0.180 943

1 .047 723

)
i I ;(12

1 .067 0 1 6

i f iCC)
i f icI 21

i/o

\.073 254

i1 0

1 . I 1 l 190

ifd(2)

1 . 1 47 723

1 .092 1 1 3

ildc')

1 .122 153

i t de

l)

II d(C)
)
il dCl2

1 .054 6 1 3

36
37
38
39
40

1 53 . 1 5 1 85
1 76. 1 24 63
202.543 3 2
232.924 82
267.863 S5

41
42
43

308.043 08
354.249 5 4
407.386 97

44
45

46
47
48
49
50

64

ild(l2)

1 .079 5 16

0 .006 53
0.005 68
0.004 94
0.004 29
0.003 73
0.003 25
0.002 8 2

I 0 1 4.345 7
1 1 67.497 5
1 343.622 2

1 546. 165 5

1 779.090 3

6.623 I
6.628 8
6.633 8
6.638 0
6.64 1 8

49 .2 1 0 3

49.420 4
49.608 0
49.775 4
49.924 8

3 539.009 4

4.992 9

29.703 7

1 55.035 3

2 4.994 1
5 4.995 1
2 4.995 9
8 4.996 6

29.747 2
29.784 5
29.8 1 6 3
29.843 S

1 60.029 4 37
1 65.024 5 38
1 70.020 4 39
175.0 1 7 0 40

I 763.725 88 0.000 57
2 1 16.471 06 0.000 47
2 539.765 27 0.000 39

8 8 1 3.629 4 4.997 2 29.866 8

1 0 577.355 3 4.997 6 29.886 6
1 2 693.826 3 4.998 0 29.903 5

1 80.0 1 4 2 4 1
1 85.01 1 8 42
1 90.009 8 43

708.80 1 87

0.00 1 4 1

1 95.845 8

36

36

202.474 6
209. 1 08 3
2 1 5.746 4
222.388 1

37
38
39
40

37
38
39
40

850.562 25 0.001 1 8
1 020.674 70 0.000 98
1 224.809 64 0.000 82
1 469.7 7 1 57 0.000 68

4 247.8 1 1
5 098.373
6 1 1 9.048
7 343.857

6.645 0
6.647 8

50.057 9
50. 1 76 4

229.033 2
235.68 1 0

41
42

41
42

3 1 1 6.633 4
3 585.128 5

50.282 0
50.375 9
50.459 4

242.3 3 1 3
248.983 8
255.63 8 0

43
44
45

43
44
45

3 047.7 1 8 32
3 657.261 99

0.000 3 3
0.000 27

1 5 233.59 1 6
1 8 2 8 1 .309 9

4.998 4
4.998 6

29.9 1 8 0
29.930 3

1 95 .008 2
200.006 8

44
45

61
40
22
06

4 1 23.897 7
4 743.482 4
5 456.004 7
6 275.405 5

6.655 9 50.533 7
6.657 3 50.599 6
6.658 5 ' 50.658 2
6.659 6 50.7 1 0 2

262.294 0
268.95 1 3
275.609 8
282.269 4

46
47
48
49

46 4 388.7 1 4 39

47 5 266.457 26 0.000 .1 9 26 327.286 3 4.999 I 29.949 7 2 1 0.004 7 47

48 6 3 1 9.748 72 0.000 1 6 3 1 593.743 6 4.999 2 29.957 3 2 15.004 0 48
49 7 583.698 46 0.000 1 3 37 9 1 3.492 3 4.999 3 29.963 7 220.003 3 49

0.000 23

2 1 938.57 1 9

4.998 9

29.940 8

205.005 7

46

0.000 92

7 2 1 7.7 1 6 3

6.660 5

288.929 9

50

50

0.000

II

45 497. 1 90 8

4.999 5

29.969 2

225.002 7

50

468.495 02
538.769 2 7

6 1 9.584 66
7 1 2.522 36
8 1 9.400 7 1
942.3 1 0 82

0.001
0.00 1
0.00 1
0.00 1

083.657 44

2 046.953 9
2 354.996 9
2 709.24 6 5

50.756 3

9 1 00.438 1 5

1 .096 963

1 .088 65 1

1 . 105 3 1 7

36

6.650 3
6.652 4
6.654 3

0.002 4 5
0.002 1 3
0.001 86

1 .072 153

65