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What is maximum amount will be able to spend on vacation

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Reference no: EM132592532

Question 1: Upon graduation from college in two years you plan to go for an extravagant European vacation. Your parents will give you a graduation gift of $3,400 to help with the cost of the vacation. You have $2,000 available at present, which you plan to deposit into an account that pays 11 percent interest compounded quarterly. What is the maximum amount you will be able to spend on your vacation?

Reference no: EM132592532

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