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Jazelle Momba wants to visit her family in Zimbabwe in 2022, which is 6 years from now. She knows that it will cost approximately $8,000
Jazelle Momba wants to visit her family in Zimbabwe in 2022, which is 6 years from now. She knows that it will cost approximately $8,000 including flight costs, on-the-ground costs, and extra spending money to stay for 4 months. If she opens an account that compounds interest at 4% semiannually, how much does she need to deposit today to cover the total cost of her visit? (Do not round intermediate calculations. Round your answer to the nearest cent.)
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