elle Momba wants to visit her family in Zimbabwe in 2022, which is 7 years from now. She knows that it will cost approximately 200 including flight costs, on-the-ground costs, and extra spending money to stay for 4 months. If she opens an account that mpounds interest at 6% semiannually, how much does she need to deposit today to cover the total cost of her visit? (Round your swer to the nearest dollar.) eposit

elle Momba wants to visit her family in Zimbabwe in 2022, which is 7 years from now. She knows that it will cost approximately 200 including flight costs, on-the-ground costs, and extra spending money to stay for 4 months. If she opens an account that mpounds interest at 6% semiannually, how much does she need to deposit today to cover the total cost of her visit? (Round your swer to the nearest dollar.) eposit

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Jazelle Momba wants to visit her family in Zimbabwe in 2022, which is 7 years from now. She knows that it will cost approximately
$7,200 including flight costs, on-the-ground costs, and extra spending money to stay for 4 months. If she opens an account that
compounds interest at 6% semiannually, how much does she need to deposit today to cover the total cost of her visit? (Round your
answer to the nearest dollar.)
Deposit

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