How much does she need to place in a saving account today, Financial Management

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How much does she need to place in a saving account today

Camila plans to go for vacation to Australia in 5 years from now. She estimates that she will need $18,815 for the trip. How much does she need to place in a saving account today that earns 5.85 percent per year (compounded quarterly) to accumulate this amount? Round the answer to two decimal places

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Financial Management: How much does she need to place in a saving account today

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