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Kevin White is planning to save up for a trip to Europe in three years. He will need $8,600 when he is ready to make

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Kevin White is planning to save up for a trip to Europe in three years. He will need $8,600 when he is ready to make the trip. He plans to invest the same amount at the end of each of the next three years in an account paying 7 percent. What is the amount that he will have to save every year to reach his goal of 8,600 in three years? (Round answer to 2 decimal places, es 5.275.25.) Cash flows $ An investment opportunity requires a payment of $970 for 12 years, starting a year from today. If your required rate of return is 5.5 percent, what is the value of the investment to you today? (Round factor values to 4 decimal places, eg. 1.2514 and final answer to 2 decimal places, eg. 15.25.) Present value of investment $

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