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Posted by on Monday, February 7, 2011 at 10:46pm.

The Pirerras are planning to go to Europe 5 yr from now and have agreed to set aside $190/month for their trip. If they deposit this money at the end of each month into a savings account paying interest at the rate of 9.5%/year compounded monthly, how much money will be in their travel fund at the end of the fifth year?

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