Homework Answers
| Money in hand | 1,000.00 | $ |
| Add bank CD interest 6.75% | 67.50 | $ |
| Money in hand after 1 year | 1,067.50 | $ |
| Trip cost now | 1,025.00 | $ |
| Add inflation 4% | 41.00 | $ |
| Trip cost after 1 year | 1,066.00 | $ |
| Money in hand after 1 year is 1067.5$ and trip cost is 1066$ | ||
| So we have enough money to purchase the trip after 1 year | ||
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