Question: Your anticipated wedding is three years from today. You don't know who your spouse will be but you do know that you are saving $

Your anticipated wedding is three years from today. You don't know who your spouse will be but you do know that you are saving $11,000 today and $14,000 one year from today for this purpose. You also plan to pay the final $7,000 of anticipated costs on your wedding day. At a discount rate of 4.3 percent, what is the current cost of your upcoming wedding?
(Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)
Note: It is highly recommended to use Excel (or Google Sheets) or a financial calculator to solve this problem.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!