$($Click the icon to view the present value annuity table.$)$

$($Click the icon to view the present value table.$)$

$($Click the icon to view the future value annuity table.$)$

$($Click the icon to view the future value table.$)$

Requirements

How much money does Rachel need now to fund her travels?

After checking with a number of banks, Rachel learns she'll be able to invest her funds only at $4\%.$ How much does she need now to fund her travels?

Requirement $1.$ How much money does Rachel need now to fund her travels?

Calculate how much money Rachel needs now to fund her travels. $($Round your answers to the nearest whole dollar.$)$

With the $10\%$ interest rate, Rachel needs

Requirement $2.$ After checking with a number of banks, Rachel learns she'll be able to invest her funds only at $4\%.$ How much does she need now to fund her travels?

Calculate how much she needs to fund her travels if she didn't get the $10\%$ interest rate she had originally planned. $($Round your answers to the nearest whole dollar.$)$

With a $4\%$ interest rate, Rachel would need

If Rachel's savings are earning a lower interest rate $(4\%),$ she'll need to save

to be able to withdraw $$30,000$ per year.