You want to take a trip with your friends after graduating. You estimate that you...
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You want to take a trip with your friends after graduating. You estimate that you will need $6,000 to finance the trip, which will take place 3 years from today. With an investment opportunity that generates a 7% annual rate of return, how much do you need to invest today to afford the trip? Round to the nearest dollar. $2,000 $4,898 $6,103 $7,865 $10,486 Let's say you are only able to save $1,000 today (instead of the required amount you calculated for Q2). What additional amount would you need to save each year (years 1 through 3 ) in order to ensure you still have $6,000 at the end of year 3 ? $1,299 $1,388 $1,485 $1,592 $1,667
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