Suppose a husband wants to take his wife on a trip three years from now...
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Suppose a husband wants to take his wife on a trip three years from now to Europe to celebrate their 40th anniversary. He has just received a $25,500 inheritance from an uncle and intends to invest it for the trip. The husband estimates the trip will cost $32,500 and he believes he can earn 8% interest, compounded annually, on his investment. Complete the following table to calculate the future value. Will he be able to pay for the trip
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