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Econ 3050 Quiz #8 Enter your answers to the items below in Quiz #8 in the Exam 3 Module. 1. Assume you plan to save

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Econ 3050 Quiz #8 Enter your answers to the items below in Quiz #8 in the Exam 3 Module. 1. Assume you plan to save to take a tour of Europe in 3 years. The current price of the tour, all expenses included, is $6,000. a. What is the expected purchase price in 3 years if the expected rate of inflation is 2.5% per year? Round the expected price up to the nearest one hundred. The expected price of the tour in 3 years is $ b . How much must be deposited today in an account that earns 4% annual interest after taxes, compounded quarterly? must be deposited today. C. How much must be saved each quarter in an account that earns 4% annual interest after taxes, compounded quarterly? must be deposited each quarter

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