question archive You are planning to purchase a new car in 5 years
You are planning to purchase a new car in 5 years
Subject:BusinessPrice: Bought3
You are planning to purchase a new car in 5 years. You believe the price of the car will be $70,000 at that time. How much money do you need to save today in an account that pays 6% per year? Question 3 (1 point) You are planning to purchase a new car in 5 years. You believe the price of the car will be $70,000 at that time. Suppose you plan to deposit an equal amount of money at the end of each year to save for the car. How much do you need to deposit each year in an account that pays 6% per year? A Question 4 (1 point) Now suppose that you deposit money into the account at the beginning of each year. How much is your annual deposit?
