Question
You wish to go on vacation in 5 years. You think the vacation will cost $15,000 in today's dollars, and inflation will cause it to
You wish to go on vacation in 5 years. You think the vacation will cost $15,000 in today's dollars, and inflation will cause it to increase by 9% per year. How much will you need today to fund this investment if you could earn 7% on the funds?
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Step: 1
Amount needed after 5 years15000...
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Practical financial management
Authors: William r. Lasher
5th Edition
0324422636, 978-0324422634
