Your dream car cost $$50000$ and the price will increase by $4\%$ per year. The interest rate in a bank is $6\%$ per year. How much should you save every year $($in same amount$)$ in next four year $($ each deposit will be made at the end of the year$)$ in order to buy the car in $4$ years? How much should you save every month in next $4$ years to buy the car. assuming each deposit is made at the end of each month?

Answer rating: 100% (QA)

To calculate how much you should save every year and every month for the next four years to buy the ... View the full answer