? Assume that you are saving for a trip to several countries that you and three of
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Assume that you are saving for a trip to several countries that you and three of your college friends are planning to take 5 years after graduation. You want to save $15,000 for the trip. Assume that you will make deposits at the end of each quarter for 5 years in an investment that earns 8% compounded quarterly. How much must you invest each quarter to reach your goal? Show your calculation. Assume that you are saving for a trip to several countries that you and three of your college friends are planning to take 5 years after graduation. You want to save $15,000 for the trip. Assume that you will make deposits at the end of each quarter for 5 years in an investment that earns 8% compounded quarterly. How much must you invest each quarter to reach your goal? Show your calculation.
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