K Present Value. Cheryl wants to have $3,100 in spending money to take on a trip to Disney World in three years. How much must she deposit now in a savings account that pays 9% per year to have the money she needs in three years? To have $3,100 in three years, Cheryl would need to deposit $ (Round to the nearest cent.) (Use your financial calculator or you may use the Financial Tables in Appendix C in computing your answer.)

Present Value. Cheryl wants to have $3,100 in spending money to take on a trip to Disney World in three years. How much must she deposit now in a savings account that pays 9% per year to have the money she needs in three years? To have \$3,100 in three years, Cheryl would need to deposit \$ (Round to the nearest cent) (Uso your financial calculator or you may use the Financial Tables in Appendix C in computing your answer.)