d $22000 for her dream vacation. If she is able to earn 9% per annum on an investment, how much will she need to set aside at the beginning of each year to accumulate sufficient funds?

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12 May, 20:26

d $22000 for her dream vacation. If she is able to earn 9% per annum on an investment, how much will she need to set aside at the beginning of each year to accumulate sufficient funds?

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Alexandra Mccann · Answer 1

The question is incomplete, the complete question is:

Jane wants to set aside funds to take an around the world cruise in four years. Jane expects that she will need $22000 for her dream vacation. If she is able to earn 9% per annum on an investment, how much will she need to set aside at the beginning of each year to accumulate sufficient funds?

= $22000 / (4.50611 * 1.09)

= 22000 / 4.911

=$4479

She need to set aside $4479 at the beginning of each year to accumulate sufficient funds for the world tour.