You want to go to Europe 5 years from now, and you can save $2,600 per year, beginning one year from today.  You plan to deposit the funds in a mutual fund that you think will return 8.5% per year.  Under these conditions, how much would you have just after you make the 5th deposit, 5 years from now?

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To calculate the future value of your savings after 5 years considering a... View the full answer