Question: 1 . When you graduated from middle - school ( when you were 1 4 years old ) your relatives gave you a combined gift

1. When you graduated from middle-school (when you were 14 years old) your relatives gave you a combined gift of $600. Four years later, you graduated from high school, and your relatives gave you a combined gift of $1,100. You have been able to invest this money and earn 8% returns each year. You are now halfway through college (age 20) and want to take a vacation when you graduate in two years. You believe the plane tickets and hotels will cost $3,600 combined. If you are still able to earn 8% from investing over the next two years, how much extra money will you have to set aside today in order to be able to afford to take your vacation? A. $851.26 B. $992.90 C. $1,344.97 D. $1,364.84 E. $1,389.44

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