You Want to Set Aside Some Money Today in Order

question 15

Multiple Choice

You want to set aside some money today in order to present your son with a $3,000 trip upon his graduation from high school in seven years. If your opportunity cost of capital is 10% per
Year, how much do you need to set aside? Round your answer to the nearest dollar.

• A)$471
• B)$1,233
• C)$1,539
• D)$4,843