Question: Will they be able to pay for the trip in four years? Arnold and Helene would like to visit Austria in four years to celebrate

Will they be able to pay for the trip in four years?

Arnold and Helene would like to visit Austria in four years to celebrate their 25 th wedding anniversary. Currently, the couple has savec $20,000, but they expect the trip to cost $24,000. Required: 1-a. If they put $20,000 in an account that earns 8% interest, compounded annually, how much will they have in four years? (FV of $1, PV of $1, FVA of $1, and PVA of $1 ) 1-b. Will they be able to pay for the trip in four years? Complete this question by entering your answers in the tabs below. If they put $20,000 in an account that earns 8% interest, compounded annually, how much will they have in four years? (Use tables, Excel, or a financial calculator. Round your answer to 2 decimal places.)

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