How much amount should invest in the account

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Problem 1: Jack has planned to go to watch FIFA world cup that is due in 3 years. The ticket would cost him $1191 in that year. The bank Jack has his account in pays 6% interest on the savings. How much amount should he invest in the account that would allow him to purchase the ticket in 3 years?

Problem 2: If you buy a few preferred stocks that pay you $100 per year forever, how much does it worth today if interest rate of 7%?

Reference no: EM132497100

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