P5-6 (similar to) Question Help Time value Personal Finance Problem As part of your financial planning, you wish to purchase a new car 8 years from today. The car you wish to purchase costs 520,000 today, and your research indicates that its price will increase by 3% to 6% per year over the next 8 years a. Estimate the price of the car at the end of 8 years if inflation is (1) 3% per year and (2) 6% per year b. How much more expensive will the car be if the rate of inflation is 6% rather than 3%7 c. Estimate the price of the car if inflation is 3% for the next 3 years and 6% for 5 years after that 3. The price of the car at the end of 8 years, il inflation is 3% per year, is s() (Round to the nearest cent) Enter your answer in the answer box and then click Check Answer 3 parts remaining Clear All Check