Tom and Suri decide to take a worldwide cruise. To do so, they need to save $30,000.

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Tom and Suri decide to take a worldwide cruise. To do so, they need to save $30,000. They plan to invest $4,000 at the end of each year for the next seven years to earn 8% compounded annually. Determine whether Tom and Suri will reach their goal of $30,000 in seven years.

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Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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