The Pirerras are planning to go to Europe 2 years from now and have agreed to set aside $190/month for their trip. If they deposit this money at the end of each month into a savings account paying interest at the rate of 9%/year compounded monthly, how much money will be in their travel fund at the end of the second year? (Round your answer to the nearest cent.)
The Pirerras are planning to go to Europe 2 years from now and have agreed to set aside $190/month for their trip. If they deposit this money at the end of each month into a savings account paying interest at the rate of 9%/year compounded monthly, how much money will be in their travel fund at the end of the second year? (Round your answer to the nearest cent.)
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 23P
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