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Cheryl wants to have $4,200 in spending money to take on a trip to Niagara Falls in three years. Part 2 How much must she
Cheryl wants to have $4,200 in spending money to take on a trip to Niagara Falls in three years.
Part 2
How much must she deposit now in a savings account that pays 6 percent compounded monthly to have the money she needs in three years?
$enter your response here
(Use the time value of money formulas or the TI BA II Plus financial calculator, and enter your answer rounded to the nearestcent.)
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