Question: (Compounding using a calculator) Bart Simpson, age 10 , wants to be able to buy a realy cool new car when he tums 16 .
(Compounding using a calculator) Bart Simpson, age 10 , wants to be able to buy a realy cool new car when he tums 16 . His realy cool car costs $15,000 today, and its coat in expectod to hat 5 percent annually. Bart wants to make one deposit todey (he can sell his mint-condition original Nuclear Boy comic book) into an account paying 7.8 percent arrually in order to buy his car in 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 16 ? a. How much will Bart's car cost atter 6 years? 5 (Round to the nearest cent.) b. How much does Bart have to save today in order to buy this car at age 16 ? (Round to the nearest cent)
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