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Q4 (13 points) You are saving for a trip to Europe that you hope to take in 3 years. You want to have $10,000 saved
Q4 (13 points) You are saving for a trip to Europe that you hope to take in 3 years. You want to have $10,000 saved up by then. Currently, your bank is offering you 4% interest compounded weekly. a) How much do you need to put in the account today in order to have your desired amount in 3 years? What would be your total interest earned? b) How much would you need to put away if you put money away weekly instead (ie, what would your weekly payments be) in order to have your desired amount in 3 years? What would be your total interest earned? c) Which of the two options would you choose, and why
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