Martha wants to take the next four years off work to travel around the world....
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Accounting
Martha wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $29,000 (if she needs more, she will work odd jobs). Martha believes she can invest her savings at 12% until she depletes her funds. 2 (Click the icon to view Present Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) 2 (Click the icon to view Future Value of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of $1 table.) Read the requirements. Requirement 1. How much money does Martha need now to fund her travels? (Round your answer to the nearest whole dollar.) With the 12% interest rate, Martha needs $ Requirement 2. After speaking with a number of banks, Martha learns she will only be able to invest her funds at 6%. How much does she need now to fund her travels? (Round your answer to the nearest whole dollar.) With a 6% interest rate, Martha would need $ If Martha's savings are earning a lower interest rate (6%), she will need to save to be able to withdraw $29,000 per year
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