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Provide for the purchase of the auto

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The auto of your dreams costs $20,000 today. You have found a way to earn 15% tax free in a savings account. If the cost of your dream car is expected to increase 10% every year, how much must be deposited into the savings account to provide for the purchase of the auto in 5 years?

Reference no: EM131153850

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Provide for the purchase of the auto : The auto of your dreams costs $20,000 today. You have found a way to earn 15% tax free in a savings account. If the cost of your dream car is expected to increase 10% every year, how much must be deposited into the savings account to provide for t..
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