There are funds left in this bucket in your parent portfolio

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Reference no: EM13987839

Your brother Adam has decided to enter graduate school in 4 years. Your parents have been saving $ 3000 per year for the last 10 years. The 4 years have passed and he chooses Officer’s Training School instead. Your parents are delighted and gift him $ 20,000.

Having toiled over the years they plan to use some funds totravel. They have budgeted $ 10,000.

With a degree in finance you know that there are funds left in this bucket in your parent’s portfolio.

You decide to become a Chef. Your parents support your decision and give you the rest. How much will your get?

Assume a 6% interest rate.

Reference no: EM13987839

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