Question: You plan to spend the next four summers vacationing abroad. The first summer trip which is exactly one year away will cost you $ 3

You plan to spend the next four summers vacationing abroad. The first summer trip which is exactly one year away will cost you $32,000, the second $57,500, the third $55,000, and the fourth $66,000.
How much should you deposit in your account today so that you will have exactly enough to finance all the trips? The account pays interest at 8 percent compounded annually.

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