Question
Cheryl wants to have $1,600 in spending money to take on a trip to Disney World in three years. How much must she deposit now
Cheryl wants to have $1,600 in spending money to take on a trip to Disney World in three years. How much must she deposit now in a savings account that pays 1% per year to have the money she needs in threeyears?
To have $1,600 in threeyears, Cheryl would need to deposit $
nothing
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Quantitative Analysis for Management
Authors: Barry Render, Ralph M. Stair, Michael E. Hanna, Trevor S. Ha
12th edition
133507335, 978-0133507331
