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Sandra wants to take the next five years off work to travel around the world. She estimates her annual cash needs at $35,000 (if she
Sandra wants to take the next five years off work to travel around the world. She estimates her annual cash needs at $35,000 (if she needs more, she will work odd jobs). Sandra believes she can invest her savings at 8% until she depletes her funds. (Click the icon to view Present Value of S1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of $1 table.) Read the requirements Requirement 1. How much money does Sandra need now to fund her travels? (Round your answer to the nearest whole dollar) With the 8% interest rate, Sandra needs X Requirements 1. How much money does Sandra need now to fund her travels? 2. After speaking with a number of banks, Sandra leams she will only be able to invest her funds at 4%. How much does she need now to fund her travels? Print Print Done
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