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BOBnen would like to take his wife, Mary, on a trip three years from now to Europe to celebrate their 40th anniversary. He has just

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BOBnen would like to take his wife, Mary, on a trip three years from now to Europe to celebrate their 40th anniversary. He has just received a $23.000 inheritance from an uncle and intends to invest it for the trip Billestimates the trio will cost $32.200 EV of St. PV of $1. EVA of S1 PVA 51. FVAD of $1 and PVAD of 50 (Use appropriate factor(s) from the tables provided.) What interest rate, compounded annually, must Bill earn to accumulate enough to pay for the ing? (Round your interest rate to the nearest whole percentage.) Present Value - 5 6 7 00

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