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How much should be set aside today for trip

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Question: Shirley Riddle received a $10,000 gift from her mother and plans a minor renovation to her home. She also plans to make an investment for one year, at which time she plans to take a trip projected to cost $6,999. The current interest rate is 2.3% annually, compounded annually. How much should be set aside today for her trip?

Reference no: EM131623382

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