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Gretchen wants to take the next six years off work to travel around the world. She estimates her annual cash needs at $ 35 comma
Gretchen wants to take the next six years off work to travel around the world. She estimates her annual cash needs at $ 35 comma 000 (if she needs more, she will work odd jobs). Gretchen believes she can invest her savings at 10% until she depletes her funds. LOADING...(Click the icon to view Present Value of $1 table.) LOADING...(Click the icon to view Present Value of Ordinary Annuity of $1 table.) LOADING...(Click the icon to view Future Value of $1 table.) LOADING...(Click the icon to view Future Value of Ordinary Annuity of $1 table.) Read the requirementsLOADING.... Question content area bottom Part 1 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
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