ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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A young engineer wants to surprise her husband with a European vacation for their tenth anniversary, which is five years from now. She determines that the trip will cost $7,000. Assuming an interest rate of 5.5% compounded daily, approximately how much money does she need to deposit today for the trip?

23. A young engineer wants to surprise her husband
with a European vacation for their tenth anniversary,
which is five years from now. She determine that the
trip will cost $7,000. Assuming an interest rate of 5.5%
compounded daily, approximately how much money
does she need to deposit today for the trip?
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Transcribed Image Text:23. A young engineer wants to surprise her husband with a European vacation for their tenth anniversary, which is five years from now. She determine that the trip will cost $7,000. Assuming an interest rate of 5.5% compounded daily, approximately how much money does she need to deposit today for the trip?
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