Maria wants to set aside funds to take an around the world cruise in four years. Maria expects that she will need $26000 for her dream vacation. If she is able to earn 7% per annum on an investment, how much will she need to set aside at the beginning of each year to accumulate sufficient funds?

Maria wants to set aside funds to take an around the world cruise in four years. Maria expects that she will need $26000 for her dream vacation. If she is able to earn 7% per annum on an investment, how much will she need to set aside at the beginning of each year to accumulate sufficient funds?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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