You saving up to buy a car. You plan on making your first savings deposit one year from today, and then making deposits for the following 3 years. These are the amounts you plan to save at the end of each year:

Year

Projected Savings

Amount

1. $1.500

2. $3.000

3. $2.200

4. $3,000

You expect to earn an annual rate of 9% per year throughout. What amount will you have available at the end of year 4?

$___

Answer rating: 100% (QA)

To calculate the amount you will have available at the end of year 4 we need to calculate the future ... View the full answer