In order to have money available for replacing their family vehicle, a couple planned to have $$220,000$ available

in $10$ years by investing in a global mutual fund. If they plan to increase their savings by $10\%$ each year, how

much must they invest in year $1$ if they expect to earn $10\%$ per year on their investments?In order to have money available for replacing their family vehicle, a couple planned to have $$220,000$ available

in $10$ years by investing in a global mutual fund. If they plan to increase their savings by $10\%$ each year, how

much must they invest in year $1$ if they expect to earn $10\%$ per year on their inve$/$ments$?$

Screen clipping taken: $9/19/201210$:$07$ AM