6. You and a friend are saving money for a summer in Europe after you graduate. You have each been depositing $500 each month into an interest bearing account so you can make 3 monthly withdrawals to pay for your trip. This investment account provides an annual interest rate of 5%, compounded monthly. Will you have saved enough money for the trip? (Use the table below to clarify cash flows.) 3.18 The TerraMax truck currently being mang and field tested by Oshkosh Truck Co. is less truck intended for military use. Suci would free personnel for non-driving taske Month Deposit, $ Withdrawal, $ reading maps, scanning for roadside by scouting for the enemy. If such trucks wow 1-23 $500/month in reduced injuries to military personnel ing to $15 million three years from now, 24 $2800 the present worth of these benefits at a rate of 10% per year compounded semia 25 $3100 - 26 $3100 3.28 In order to have enough money to finance hi sion for top-level off-road racing, a mech engineer decided to sell some of his "toy