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How much money does martha need now to fund her travels

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Question - Martha wants to take the next five years off work to travel around the world. She estimates her annual cash needs at $31,000 (if she needs more, she will work odd jobs). Martha believes she can invest her savings at 12% until she depletes her funds.

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1. How much money does Martha need now to fund her travels?

2. After speaking with a number of banks, Martha learns she will only be able to invest her funds at 4%. How much does she need now to fund her travels?

Reference no: EM131645156

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