You decide to save for your dream vacation to Europe (London, Paris, and Rome). You want...

Question

Question

Answer 1

Answer #1

Amount required to be deposit today = Present value of amount required in future

= Future Value/(1+Interest Rate)^Number of years

= 5845/(1+9.2%)^9

= $2,647.16

Hence, amount required today = $2,647.16

Answer 2

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