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You are trying to decide how much money to put away to cover future expenses. You currently have 1 , 8 5 5 dollars in
You are trying to decide how much money to put away to cover future expenses. You currently have
dollars in your savings account. You expect the following cash flows at the end of the relevant years: an
expense of dollars three years from now, an expense of dollars seven years from now, and both
an inflow of dollars and outflow of dollars years from now. How much money do you need to
deposit today in order to honor these future financial obligations if your savings account yields per year?
Only a single deposit today is allowed; no other option available. note: round your answer to the nearest
cent, and do not include spaces, currency signs, plus or minus signs, or commas
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