You plan on going on a 6 month vacation 8 months from now. You can pay...

You plan on going on a 6 month vacation 8 months from now. You can pay $3,458 per month during the vacation, or you can pay $22,523 today. If you pay today, how much does it save (or cost) you in present value term if your investments earn 3.41% APR (compounded monthly)?

If it costs you more to pay today, state your answer with a negative sign (eg., -2000).

Expert Solution

jeff jeffy answered 2 years ago

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You plan to visit France for 6 months, (starting next month). You will spend $7,558 in...

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