Question: (Compounding using a calculator) Lisa Simpson wants to have $1.9 million in 60 years by making equal annual end-of-the-year deposits into a tax-deferred account paying

in 60 years by making equal annual end-of-the-year deposits into a tax-deferred

(Compounding using a calculator) Lisa Simpson wants to have $1.9 million in 60 years by making equal annual end-of-the-year deposits into a tax-deferred account paying 7.25 percent annually. What must Lisa's annual deposit be? The amount of Lisa's annual deposit must be $ (Round to the nearest cent.) (Compounding using a calculator) Bart Simpson, age 10, wants to be able to buy a really cool new car when he turns 16 . His really cool car costs $15,000 today, and its cost is expected to increase 3 percent annually. Bart wants to make one deposit today (he can sell his mint-condition original Nuclear Boy comic book) into an account paying 7.5 percent annually in order to buy his car in 6 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 after 6 years? $ (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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