What will your car cost by the time you graduate

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Reference no: EM131515216

You plan to buy a new car when you graduate in 2 years. The car you want currently costs $25,000 and car prices are expected to increase at an annual rate of 4% per year. What will your car cost by the time you graduate? Suppose you wait another 3 years after graduation to make your purchase? If you can earn 6% per year, how much would you have to invest today to be able to purchase the car in two years? In five years? A. 24,066;24,066;22,729 B. 25,060;25,060; 27,550 C. 22,080;22,080;24,007 D. 22,729;22,729;24,066

Reference no: EM131515216

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