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In Ten Years Time You'd Like to Quit Your High

Question 98

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In ten years time you'd like to quit your high pressure job and backpack around the world for two years. Since you plan to pick up odd jobs as you travel, you think you'll be able to manage on $1,500 per month,payable at the beginning of each month. How much must you save at the end of each month to pay for your trip if interest rates are 8% compounded monthly?

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PV of the travel funds needed ...

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