Question: 5Please fill in exactly the same way as this form Suppose a husband wants to take his wife on a trip three years from now

5Please fill in exactly the same way as this form5Please fill in exactly the same way as this form Suppose ahusband wants to take his wife on a trip three years from

Suppose a husband wants to take his wife on a trip three years from now to Europe to celebrate their 40th anniversary. He has just received a $20,500 inheritance from an uncle and intends to invest it for the trip. The husband estimates the trip will cost $28,700. What interest rate, compounded annually, must be earned to accumulate enough to pay for the trip? Note: Use tables, Excel, or a financial calculator. Do not round your intermediate values. Enter your answer rounded to the nearest whole percentage. (FV of $1,PV of $1,FVA of $1,PVA of $1,FVAD of $1 and PVAD of $1 ) You would like to contribute to a savings account over the next three years in order to accumulate enough money to take a trip to Europe. Assume an interest rate of 4%, compounded quarterly. How much will accumulate in three years by depositing $560 at the end of each of the next 12 quarters? Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (FV of $1,PV of $1,FVA of $1,PVA of $1,FVAD of $1 and PVAD of $1 )

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