Will you have enough money in a year to purchase the trip

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Reference no: EM131050304

Your parents have given you $1,200 a year before your graduation so that you can take a trip when you graduate. You wisely decide to invest the money in a bank CD that pays 6.83 percent interest. You know that the trip costs $1,233 right now and that inflation for the year is predicted to be 3.82 percent. Will you have enough money in a year to purchase the trip?

Reference no: EM131050304

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