You Are Investing to Achieve the Following Goals: a Down

question 52

Multiple Choice

You are investing to achieve the following goals: A down payment for a cottage in the amount of $8000 in six years,$4000 for a trip to Europe in three years,and $150000 to supplement retirement income in 24 years.If you can earn 7 percent compounded monthly on your investments,how much should you be saving each month?

• A)$392.
• B)$377.
• C)$409.
• D)$396.

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