Question: (Compounding using a calculator) Bart Simpson, age 10 , wants to be able to buy a really cool new car when he turns 18 .

(Compounding using a calculator) Bart Simpson, age 10 , wants to be able to buy a really cool new car when he turns 18 . His really cool car costs $19,000 today, and its cost is expected to increase 4 percent annually. Bart wants to make one deposit today (he can sell his mint-condition original Nuclear Boy comic book) into an account paying 6.60 percent annually in order to buy his car in 8 years. How much will Bart's car cost, and how much does Bart have to save today in order to buy this car at age 18 ?

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