You are a freshman in college and are planning
A) You are a freshman in college and are planning a trip to Europe when you graduate from college at the end of four years. You plan to save the following amounts annually, starting today: $620, $660, $660, and $810. If you can earn 6.00 percent annually, how much will you have at the end of four years?(Round answer to 2 decimal places, e.g. 15.25.)B) Jeremy Fenloch borrowed some money from his friend and promised to repay him $1,270, $1,320, $1,470, $1,610, and $1,590 over the next five years. If the friend normally discounts investment cash flows at 7.5 percent annually, how much did Jeremy borrow?(Round answer to 2 decimal places, e.g. 15.25.)
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