Jerry wants to take the next three years off work to travel around the world. He estimates his annual cash needs at $35,000. Jerry believes he can invest his savings at 6% until he depletes his funds. Present value annuity at 6% for 3 years is 2.6730 (Present Value Interest Factors for a One-Dollar Annuity Discounted) Requirement: How much money does Jerome need now to fund his travels?

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