You want to travel to Europe to visit relatives when you graduate from college three years from now. The trip is expected to cost a total of $10,000. Your parents have deposited $5,000 for you in a CD paying 6% interest annually, maturing three years from now. Aunt Hilda has agreed to finance the balance. If you are going to put Aunt Hilda's gift in an investment earning 10% annually over the next three years, how much must she deposit now so you can visit your relatives in three years?
+2
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You want to travel to Europe to visit relatives when you graduate from college three years from now. The trip is expected to cost a total ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Home » Business » You want to travel to Europe to visit relatives when you graduate from college three years from now. The trip is expected to cost a total of $10,000.