Question: PLEASE SHOW ALL WORK AND FORMULAS, DON'T USE EXCEL. IF YOU USE A FINANCIAL CALCULATOR PLEASE PUT ALL STEPS FOR ENTERING INTO THE CALCULATOR AND

PLEASE SHOW ALL WORK AND FORMULAS, DON'T USE EXCEL. IF YOU USE A FINANCIAL CALCULATOR PLEASE PUT ALL STEPS FOR ENTERING INTO THE CALCULATOR AND WHICH MODES IT NEEDS TO BE ON. PLEASE SHOW ALL WORK AND FORMULAS, DON'T USE EXCEL. IF YOU USE

Question 28 You would like to buy a car but must complete a 2 year commitment to the Peace Corp before you can drive the new car. The current price of the car you want to buy is $25.000 and the dealer expects the price of a similar new car to be $31.250 in 2 years. If you can earn an annual interest rate of 5.00% on your monex should you buy the car now or wait until you return? Why? (Note that storage costs of the car are $0)

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