Jane Chang is making plans for a summer vacation.Shewill
Chapter , Problem 9-67(choose chapter or problem)
Jane Chang is making plans for a summer vacation.Shewill take$1000with herin the form of travelers hecks. From the newspaper, she finds that if shepurchases the checks by May 31, she will not haveto pay a service charge. That is, she will obtain$1000 worth of travelers checks for $1000. Butif she waits to buy the checks until just beforestarting her summer trip, she must pay a 1% ser-vice charge. (It will cost her $1010 for $1000 oftravelers checks.)Jane can obtain a 13% interest rate, com- pounded weekly, on her money. How many weeksafter May 31 can she begin her trip and still justifybuying the travelers checks on May 31?
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