The amount of money Adam should save now in order to accomplish his goal is $13,470.30.
How much should Adam save now?
In order to determine the amount Adam should save now, the present valaue of $19,000 has to be determined. Present value is the sum of discounted cash flows.
Present value = future value / (1 + interest)^time
Interest = 1.92/2 = 0.96%
Time = 18 x 2 = 36
$19,000 / (1.0096^36) = $13,470.30
To learn more about present value, please check: https://brainly.com/question/26537392
