Question
You plan to do a expedition to Patagonia during Spring Break in 3 years. The trip will cost $9,000. You already have $3,000 in the
You plan to do a expedition to Patagonia during Spring Break in 3 years. The trip will cost $9,000. You already have $3,000 in the bank and you plan to make a deposit every year beginning one year from today for the next 3 years. If your bank pays 6% EAR, how much does the yearly deposit need to be if you are to have $9,000 3 years from today?
A) $1,705 B) $1,712 C) $1,885 D) $2,245
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