Question: (Compounding using a calculator) Bart Simpson, age 9, wants to be able to buy a really cool new car when he turns 16. His really
(Compounding using a calculator) Bart Simpson, age 9, wants to be able to buy a really cool new car when he turns 16. His really cool cat costs $14.000 today, and its cost is expected so Increase 4 percent annually. Bart wants to make one deposit today the can soll his mint condition original Nuclear Boy comic book) into an account paying 7.1 percent annually in order to buy his car in 7 years. How much will Bart's car cont, and how much does Bart have to save today in order to buy this car at age 107 a. How much will Bart's car cost for 7 years? (Round to the nearest cent)
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