Compounded annually to accumulate this amount

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Rose plans to go on vacation to Europe in 6 years from now. She estimates that she will need $24,388 for the trip. How much does she need to place in a savings account today that earns 5.13% per year compounded annually to accumulate this amount? Please show work.

Reference no: EM13980906

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Compounded annually to accumulate this amount : Rose plans to go on vacation to Europe in 6 years from now. She estimates that she will need $24,388 for the trip. How much does she need to place in a savings account today that earns 5.13% per year compounded annually to accumulate this amount? Ple..

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