Jane Wants to Set Aside Funds to Take an Around

question 41

Multiple Choice

Jane wants to set aside funds to take an around the world cruise in four years. Assuming that Jane has $12,000 to invest today in an account expected to earn 6% per annum, how much will she have to spend on her vacation?

• A) $9,504.
• B) $15,150.
• C) $52,495.
• D) $16,059.

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