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Author Question: Janice would like to send her parents on a cruise for their 25th wedding anniversary. She has priced ... (Read 235 times)

renzo156

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on: Jul 10, 2018
Janice would like to send her parents on a cruise for their 25th wedding anniversary. She has priced the cruise at 15,000 and she has 5 years to accumulate this money.
 
  How much must Janice deposit annually in an account paying 10 percent interest in order to have enough money to send her parents to cruise? (Round to the nearest whole dollar)
  A) 1,862
  B) 2,457
  C) 3,000
  D) 2,234
  E) 2,135

Question 2

How much will you need in 30 years to have the same purchasing power that 150 has today, if inflation averages 4 per year?
 
  A) 486.51
  B) 180.00
  C) 120.00
  D) 169.08
  E) 330


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leahm14

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Reply #1 on: Jul 10, 2018
Answer to Question 1

B

Answer to Question 2

A


renzo156

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Reply 2 on: Jul 10, 2018
YES! Correct, THANKS for helping me on my review

essyface1

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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