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Michaela would like to have $10000 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

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

Jan 25 2020 View more View Less

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