Your grandparents leave on their dream vacation to Antarctica in three years. The cruise vacation will cost them $24,000. If they have already saved $22,500 and are investing it at a rate of 2.50% per year, will they have saved enough money for their trip?

Yes, to have enough money they would have already needed to save $22,101.33 and they already exceed that amount.

Yes, to have enough money they would have already needed to save $22,286.39 and they already exceed that amount.

No, to have enough money they would have already needed to save $23,375.