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Arnold and Helene would like to visit Austria in three years to celebrate their 25th...

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Accounting

Arnold and Helene would like to visit Austria in three years to celebrate their 25th wedding anniversary. Currently, the couple has saved $26,500, but they expect the trip to cost $30,500.

Required:

1-a. If they put $26,500 in an account that earns 6% interest, compounded annually, how much will they have in three years? (FV of $1, PV of $1, FVA of $1, and PVA of $1)

1-b. Will they be able to pay for the trip in

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