Sandoval Chambers
03/21/2023 · Elementary School

ASSESS REASONABLENESS Your friend says that if you deposit \( \$ 940 \) in the account in Exercise 29 , you'll have enough money to go on the trip two years earlier Is your friend's claim reasonable? Explain.

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To determine if your friend's claim is reasonable, we need to know the interest rate, compounding frequency, and the amount needed for the trip. We can then use the future value formula to calculate how much \( \$940 \) will grow over time and compare it to the trip cost.

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