Bobby would like to take a trip to Greece in 5 years. He will need $1,575 monthly while he is there and expects to remain there for 8 months. If money is worth 3.9% compounded m…

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asked Jul 6, 2019 59.2k views

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David Hedlund · Answer 1 · 2019-07-12T11:16:59+0000

The amount Bobby will need at the start of his trip is $12,458.06. In order for his account to have that balance in 5 years, ...
.. he must deposit $10,254.17 now.

Bobby would like to take a trip to Greece in 5 years. He will need $1,575 monthly-example-1

Bobby would like to take a trip to Greece in 5 years. He will need $1,575 monthly-example-2

Bobby would like to take a trip to Greece in 5 years. He will need $1,575 monthly while he is there and expects to remain there for 8 months. If money is worth 3.9% compounded m…

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