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How much would Carol have to invest today at 6.2% compounded annually to have $4600 for a vacation to China in two years?
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How much would Carol have to invest today at 6.2% compounded annually to have $4600 for a vacation to China in two years?

User Victor Wong
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1 Answer

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4600=P(1.062)²
P=4078.58
Carol would have to invest $4078.58 today to reach the desired goal. ☺☺☺☺
User Jago
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