Home / Questions / Michaela would like to have $10000 for a European vacation in four years Currently she has...
Michaela would like to have $10,000 for a European vacation in four years. Currently, she has saved $8,000. If she puts $8,000 in an account that earns 6% interest, compounded annually, will she be able to take the vacation in four years?
57. Compute the present value of the following single amounts to be received at the end of the specified period at the given interest rate.

Invested 
Interest 
Number of 
Item 
Amount 
Rate 
Periods 
a. 
$40,000 
7% 
20 
b. 
$20,000 
6% 
25 
c. 
$50,000 
11% 
10 
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