Brief Exercise C-8 Calculate the future value of an annuity (LOC-3) Tom and...
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Brief Exercise C-8 Calculate the future value of an annuity (LOC-3) Tom and Suri decide to take a worldwide cruise. To do so, they need to save $18,000. They plan to invest $2,800 at the end of each year for the next six years to earn 9% compounded annually. 1-a. Calculate the future value of the investment. (FV of $1, PV of $1. FVA of $1, and PVA of $1) (Use appropriate factorfs) from the tables provided. Round your answer to 2 decimal places.) 1-b. Will Tom and Suri reach their goal of $18,000 in six years? Yes O No
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