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Dont answer the yeds or no questions Arnold and Helene would like to visit Austria in two years to celebrate their 25th wedding anniversary. Currently,

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Arnold and Helene would like to visit Austria in two years to celebrate their 25th wedding anniversary. Currently, the couple has saved $22,500, but they expect the trip to cost $26,500. 1-a. If they put $22,500 in an account that earns 7% interest, compounded annually, how much will they have in two years? (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answer to 2 decimal places.) Future value 1-b. Will they be able to pay for the trip in two years? Yes No Calculate the future value of the following single amounts. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Annual Rate Future Value 10 % Initial Investment 1. $ 7,700 2. 5,700 3 8,700 Interest Period Compounded Invested Annually 7 years Semiannually Quarterly 12 % 4 years 12 % 4 years Dusty would like to buy a new car in four years. He currently has $5,000 saved. He's considering buying a car for around $9,000 but would like to add a Turbo engine to increase the car's performance. This would increase the price of the car to $13,000. 1-a. If Dusty can earn 8% interest, compounded annually, how much will he have in four years? (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answer to 2 decimal places.) X Answer is not complete. Future value 1-b. Will he be able to get a car with a Turbo engine in four years? No Yes

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