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Samantha wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $30,000 (if
Samantha wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $30,000 (if she needs more, she'll work odd jobs). Samantha believes she can invest her savings at 8% until she depletes her funds. (Click the icon to view the present value annuity table.) (Click the icon to view the present value table.) (Click the icon to view the future value annuity table.) Requirements 1. 2. (Click the icon to view the future value table.) How much money does Samantha need now to fund her travels? After checking with a number of banks, Samantha learns she'll be able to invest her funds only at 6%. How much does she need now to fund her travels? Requirement 1. How much money does Samantha need now to fund her travels? Calculate how much money Samantha needs now to fund her travels. (Round your answers to the nearest whole dollar.) With the 8% interest rate, Samantha needs Requirement 2. After checking with a number of banks, Samantha learns she'll be able to invest her funds only at 6%. How much does she need now to fund her travels? Calculate how much she needs to fund her travels if she didn't get the 8% interest rate she had originally planned. (Round your answers to the nearest whole dollar.) With an 6% interest rate, Samantha would need If Samantha's savings are earning a lower interest rate (6%), she'll need to save to be able to withdraw $30,000 per year.
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