Sami plans on making a trip to visit England in three years.

She plans on staying for two years.

Sami thinks she will need $30,000 a year while in England. Her account in England will earn 4.75%, compounded annually.

Sami currently has $5,000 saved for the trip in an account earning 6.8%, compounded monthly.

How much must Sami save each month in order to go on the trip?

		$1252.25
		$1353.22
		$1295.72
		$1406.18

Suppose you borrowed $28000 at a rate of 8% and must repay it in 4 equal installments at the end of each of the next 4 years. By how much would you reduce the amount you owe in the first year?

		$6214
		$8454
		$3974
		$1734
		$2240