Rachel wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $29,000 (if she needs more, she'll work odd jobs). Rachel believes she can invest her savings at 10% until she depletes her funds.
Requirements
1. How much money does Rachel need now to fund her travels?
2. After speaking with a number of banks, Rachel learns she'll only be able to invest her funds at 4%. How much does she need now to fund her travels?