How much additional money must marie deposit

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Reference no: EM131820800

1. You own a classic car that is currently valued at $64,000. If the value increases by 2.5 percent annually, how much will the car be worth 15 years from now?

A. $94,035.00

B. $86,008.17

C. $80,013.38

D. $92,691.08

E. $91,480.18

2. Marie needs $26,000 as a down payment for a house 4 years from now. She earns 5.25 percent on her savings. Marie can either deposit one lump sum today for this purpose or she can wait a year and deposit a lump sum. How much additional money must Marie deposit if she waits for one year rather than making the deposit today?

A. $878.98

B. $911.13

C. $1,112.36

D. $1,348.03

E. $1,420.18

Reference no: EM131820800

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