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Kevin winthrop is saving for an australian vacation in

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Kevin Winthrop is saving for an Australian vacation in three years. He estimates that he will need $4,352 to cover his airfare and all other expenses for a week-long holiday in Australia. If he can invest his money in an S&P 500 equity index fund that is expected to earn an average return of 11.2 percent over the next three years, how much will he have to save every year if he starts saving at the end of this year?

Reference no: EM13613219

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