Your investment will grow to just cover the cost of camp

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Reference no: EM131950184

Your child is planning attend summer camp for three months, starting 7 months from now. The cost for camp is $1,000 per month, each month, for the three months she will attend.

If your investments earn 5% APR (compounded monthly), how much must you invest today such that your investment will grow to just cover the cost of the camp?

Reference no: EM131950184

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