College Graduation Trip Group Prject) College Algebra College graduation is a mo
ID: 2405890 • Letter: C
Question
College Graduation Trip Group Prject) College Algebra College graduation is a momentous occasion and should be treated with a special gift to you. Once you start work, it will he a while before you can afford a nice vacation or even get enough time off work to get a nice vacation. So, the purpose of this project is to build a college graduation trip while you are in the college for your 4 year bachelor degrese Type and show your workout clearly You may select from the following trips: Cruise Tou 2. European Tour (pick one) England/Ireland France/Germany Italy 3. Australia Tour 4. Japanese Tour Regardless of the trip selected, it must be 16 days in length. Determine the dates/days and include that information in your paper The following cost information for your chosen trip should be estimated and included in your paper I. air/ship travel 2. hotel 3. meals 4. excursion /sight seeing 5. souvenirs A. Estimate the total cost for your vacation? B. Suppose $2000 principal amount of money is deposited at the start of your freshman year in your account paying 4% interest per year compounded quarterly (four times per year). Find the amount in the account after 4 years with no withdrawals. Do you think you will have enough money to cover your cxpense after your graduation. C. Keeping the principal amount the same at $2000, what level of interest rate should you negotiate with your bank so that you could get sufficient amount of money in your account to cover your trip after 4 years. Assume your bank will offer you interest rate to be compounded daily. D. How much more money will you get if the newly negotiated interest rate is to be compounded continuously (Compare it with C)? Note: Although it is a group project, you will assume the cost of the trip is for an individual student an it will be greater than $2000.Explanation / Answer
A. It is difficult to estimate the total cost of the trip as the cost information for expenses have not been mentioned by any means. Hence, as per the assumption the total cost of the trip should remain at over $2000.