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Bill O'Brien would like to take his wife, Mary, on a trip four years from now to Europe to celebrate their 40th anniversary. He has
Bill O'Brien would like to take his wife, Mary, on a trip four years from now to Europe to celebrate their 40th anniversary. He has just received a $19488 inheritance from an uncle and intends to invest it for the trip. Bill estimates the trip will cost $25892 and he believes he can earn 6.00% annual interest, compounded annually, on his investment. How much will Bill need to pay, in additional to his inheritance, toward the trip in four years? Answer in dollars and cents ($ 0.00 ).
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