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Chapter 5, Problem 27RQ

Traveler’s Checks. When would you use a traveler’s check? What are the advantages of using traveler’s checks?

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3 years ago, you invested $9,200. In 3 years, you expect to have $14,167. If you expect to earn the same annual return after 3 years from today as the annual return implied from the past and expected values given in the problem, then in how many years from today do you expect to have $28,798?
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