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You wish to go on vacation in 5 years. You think the vacation will cost $15,000 in today's dollars, and inflation will cause it to
You wish to go on vacation in 5 years. You think the vacation will cost $15,000 in today's dollars, and inflation will cause it to increase by 9% per year. Assume you have $0 today, and you wish to invest monthly for this. How much will you need to invest monthly if you could get 7% on the money?
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