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13. jane wants to set aside funds to take an around the world cruise in four years. assuming that jane has $19,500 to invest today in an account expected to earn 8% per annum, how much will she have to spend on her vacation?

Sagot :

$7,350.30 is the needed amount for Jane. The current value of any sum of money, which is certain to be gained in the future over compounded interest on such investment, is known as present value.

It is critical to investors who are continually looking for improved investment options in the financial planning concept. Higher future values may result from a higher rate of return (HROR) and longer terms.

Using given information, it can be calculated as,

Hence, $7,350.30 is the needed amount for Jane.

Know more on how to calculate Present Value - https://brainly.com/question/27806712

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