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What is the amount that he will have to save every year

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Question - Mike White is planning to save up for a trip to Europe in three years. He will need $7,500 when he is ready to make the trip. He plans to invest the same amount at the end of each of the next three years in an account paying 6 percent. What is the amount that he will have to save every year to reach his goal of $7,500 in three years?

Reference no: EM133041445

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