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How much will she have at the end of seven years

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Question - Kathy Flemings is planning on buying a new car in seven years. She thinks that she will need about $25,000 to buy the car that she plans to buy. She has decided to invest $2,500 today and will do so at the beginning of each of the next six years for a total of seven payments. If her investment can earn 12 percent annually, how much will she have at the end of seven years? Will this be enough for her new car? Show all calculations to arrive at this answer.

Reference no: EM133021180

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