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Gretchen wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $30,000 (if she
Gretchen wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $30,000 (if she needs more, she will work odd jobs). Gretchen believes she can invest her savings at 10% until she depletes funds. (Click the icon to view Present Value of $1 table.) 3 (Click the icon to view Present Value of Ordinary Annuity of $1 table.) 2 (Click the icon to view Future Value of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of $1 table.) Read the requirements. Requirement 1. How much money does Gretchen need now to fund her travels? (Round your answer to the nearest whole dollar.) With the 10% interest rate, Gretchen needs $ 1. How much money does Gretchen need now to fund her travels? 2. After speaking with a number of banks, Gretchen learns she will only be able to invest her funds at 6%. How much does she need now to fund her travels
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