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How much should she have in her back account today

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Question - Lyne is planning for two vacations. Her first trip would be in 4 years' time where she estimates she will need $8,000 to travel throughout Asia, and in 6 years' time she estimates that she will need $9,000 to cover the costs to travel all over Europe. At an interest rate of 4.5% compounded semi-monthly, how much should she have in her back account today to cover for both future trips?

Reference no: EM133173229

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