6 ch 3 Latoya and her spouse have saved S4,500 for a 12-day cruise vacation...
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6 ch 3 Latoya and her spouse have saved S4,500 for a 12-day cruise vacation in Europe. The couple needs $5,000 for a "nice" cabin or S6,000 for a "luxury" cabin. If cabin prices are expected to remain constant for the next three years and Latoya expects to earn 6% per year on her investments, will the couple's savings be enough to afford the "nice" cabin in three years? Can they afford the luxury cabin? Why or why not? O No, they cannot afford the "nice" cabin or the luxury cabin because their $4,500 investment will only increase to $4,950 by the end of year three o Yes, they can afford o Yes, they can afford the "nice" cabin or the luxury cabin because their S4,500 investment will increase to o Yes, they can afford the nice cabin but NOT the luxury cabin because their S4.500 investment will only the "nice" cabin or the luxury cabin because their $4,500 investment will increase to $5,360 by the end of year three $6,360 by the end of year three increase to S5,360 by the end of year three
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