Question

Laurel wants to take the next four years off work to travel around the world. She ­estimates her annual cash needs at $ 27,000 (if she needs more, she’ll work odd jobs). Laurel believes she can invest her savings at 8% until she depletes her funds.

Requirements
1. How much money does Laurel need now to fund her travels?
2. After checking with a number of banks, Laurel learns she’ll only be able to invest her funds at 6%. How much does she need now to fund her travels?



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  • CreatedAugust 27, 2014
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