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Q1 Question 8 Camila plans to go for vacation to Australia in 11 years from now. She estimates that she will need 29,358 for the

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Question 8

Camila plans to go for vacation to Australia in 11 years from now. She estimates that she will need 29,358 for the trip. How much does she need to place in a saving account today that earns 6.89 percent per year (compounded quarterly) to accumulate this amount?

Round the answer to two decimal places.

Please explain using Excel formula.

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