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How much money will Fred have in three years

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Reference no: EM132862012

Question - Fred would like to take a nice vacation when he retires in three years. He estimates that he will need $15,000 for the vacation. He invests $12,500 today (assume he can earn a 5% annual return, compounded annually). How much money will Fred have in 3 years?

Reference no: EM132862012

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