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need the answer ASAP please Robert Blandings employer offers its workers an optional two -month unpaid vacation after 7years ofservice to the firm. Robert, who
need the answer ASAP please
Robert Blandings employer offers its workers an optional two
-month unpaid vacation after 7years ofservice to the firm. Robert, who just started working for the firm, plans to spend his vacationtouringEurope at an estimated cost of $24,000. To finance his trip, Robert plans to make an annualdeposit of$2,500 into a savings account at the end of each of the next seven years (the first deposit willoccur oneyear from today). The account pays 8% annual interest.
a. Will Roberts account balance in seven years be enough to pay for his trip?
b. Suppose Robert increases his annual deposit to $2,700. How large will his account balance beinseven years?
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